<abstract xmlns="http://www.w3.org/1999/xhtml"><p> The reasons for disintermediation in the financial systems can be found on both sides of supply and demand. This progressing phenomenon is a result of numerous changes in the post-crisis financial sector landscape. In this article, the authors analyse the underlying causes of the shift away from formal financial institutions in the area of financial services as well as present the Polish payment services market as an example of banks’ receding role in the traditional intermediation between market players.</p></abstract>

The reasons for disintermediation in the financial systems can be found on both sides of supply and demand. This progressing phenomenon is a result of numerous changes in the post-crisis financial sector landscape. In this article, the authors analyse the underlying causes of the shift away from formal financial institutions in the area of financial services as well as present the Polish payment services market as an example of banks’ receding role in the traditional intermediation between market players.

The Development of Payment Services as an Example of Disintermediation in the Financial System

Department of Treasury, Collegium of Socio-Economics, Warsaw School of Economics,

Financial Internet Quarterly

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

The reasons for disintermediation in the financial systems can be found on both sides of supply and demand. This progressing phenomenon is a result of numerous...

The Development of Payment Services as an Example of Disintermediation in the Financial System

Published Online: Feb 09, 2017

Page range: 60 - 73

Received: Jul 02, 2015

Accepted: Oct 17, 2016

DOI: https://doi.org/10.1515/fiqf-2016-0144

Keywords
banks, disintermediation, PSD, payment services, deregulation

© 2017

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

The Development of Payment Services as an Example of Disintermediation in the Financial System

Published Online: Feb 09, 2017

Page range: 60 - 73

Received: Jul 02, 2015

Accepted: Oct 17, 2016

DOI: https://doi.org/10.1515/fiqf-2016-0144

Keywordsbanks, disintermediation, PSD, payment services, deregulation

© 2017

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

Keywords
banks, disintermediation, PSD, payment services, deregulation