신용카드 산업 의 시장 구조 개선 및 중 장기 적 발 전방 안 에 관한 연구 ( A study on the credit card market structure reform and development ) 
 정책 연구 시리즈 / 2013 - 16 
 978 - 89 - 8063 - 810 - 9 ( 93320 ) 
 This report studies how to improve the policies in the Korea credit card market . In particular , this report reviews theories on merchant service charges ( MSC ’ s ) for credit card services , explores the credit card market in Korea , and derives how to efficiently regulate the MSC ’ s . 
 The credit card market is two - sided in the sense that there exist cross network externalities , which are internalized by credit card network operators . MSC ’ s are in general high , but they can be passed through on the cardholder by various fees and increased price of the final good . Hence the high MSC ’ s per se do not cause inefficiency nor decrease welfare in the market . However , when the price of the final good increases , consumers who use non - card payment systems would be worse off , which distorts efficiency of the payment systems . ( The rest omitted )