Two-sided markets: Payment card fees in Colombia

Is there fault in the way payment card fees are being determined in Colombia?

Project details

  • Client

    Colombian Association of Banks (Asobancaria)
  • Services

    Analysis of the determination of interchange fees in Colombian payment cards markets to establish if they can be associated to abuse of market power.

  • Team in charge

    David Bardey

    Marcela Meléndez

  • Year

  • Categories


Project summary

To contribute to a better understanding of the rationale for government intervention in the Colombian payment cards industry, and in particular of the challenges facing competition policy, we analysed the industry in light of the lessons from the theory of two-sided markets.

A review of the relevant economic literature was combined with an empirical analysis of the industry in Colombia, in which transaction-level data made available by Visa and Redeban, under confidentiality agreements, were for the first time applied to the investigation of how these markets operate in practice.


  • Product: Academic paper: D. Bardey and M. Meléndez, La economía de los mercados de dos lados: aplicación al análisis de las tarjetas de pago en Colombia. CEDE Working Paper No. 27, 2012.