Abstract
The paper seeks to focus attention on the power relationships between retailers and their suppliers of financial services. Using international examples, it draws attention to the different ways in which retailers are seeking to enhance their position in the payment systems supply chain. The economics of this supply chain are explained and the rationale behind the acceptance of payment by plastic card is developed. Hypotheses are advanced, for each of the international examples, as to how their aspirations might affect the payment system supply chain, and the conclusion is offered that the balance of power is shifting from the traditional payment system providers to the payment system users: the retailers.
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