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Adou Christelle LOBA

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Adou Christelle LOBA UNIVERSITÉ MONTESQUIEU – BORDEAUX IV ÉCOLE DOCTORALE de SCIENCES ÉCONOMIQUES, GESTION ET DEMOGRAPHIE (E.D. 42) Laboratoire d’Analyse et de Recherche Économiques : économie et finance internationales (EA 2954) DOCTORAT ès SCIENCES ÉCONOMIQUES Adou Christelle LOBA La modernisation des systèmes de paiement – Le projet SEPA (Single Euro Payments Area - Espace unique de paiement en euros) Thèse dirigée par M. Dominique LACOUE-LABARTHE, Professeur à l'université de Bordeaux IV Soutenue le 24 janvier 2011 Jury : Mlle. Sophie BRANA, Professeur des universités, Université de Bordeaux IV, M. Gilles JACOUD, Professeur des universités, Université de Saint-Étienne, rapporteur, M. Dhafer SAÏDANE, Maître de conférences, Université de Lille III, rapporteur. ___________________________________________________________________________ RÉSUMÉ Le morcellement de l'environnement des paiements de détail entre les 25 (et plus) systèmes nationaux différents des États membres, constitue un obstacle à l’achèvement du marché intérieur, porte atteinte à l’intégration monétaire européenne, et diminue l’efficacité économique de l’Union européenne (UE). Pour répondre à ces problèmes, le secteur bancaire a créé l’Espace unique de paiement en euros (SEPA). Le SEPA est un espace dans lequel tous les agents économiques peuvent effectuer et recevoir des paiements en euros, depuis le même compte, que ce soit à l’intérieur de leur pays ou bien entre deux pays différents, dans les mêmes conditions et avec les mêmes droits et obligations. Cette thèse, qui s'intéresse à la construction du SEPA, s'inscrit dans le champ de l'économie industrielle. Elle répond à trois interrogations : Pourquoi a-t-il fallu établir le SEPA ? En quoi consiste-t-il ? Quel sera son impact sur l’environnement des paiements de détail en euros ? Le premier chapitre présente l’environnement des paiements de détail en Europe suite à l’instauration de la monnaie unique. En utilisant les théories économiques sur les industries de réseaux, il expose la marche vers l’unification de cet environnement. Le second chapitre offre une vision détaillée du SEPA. Il présente ses effets à travers une analyse coûts – avantages, puis expose l'état de sa mise en place. Enfin, le troisième chapitre dévoile les effets non escomptés du SEPA. En mobilisant les apports de la littérature sur les marchés bifaces, il traite des commissions d’interchange et des possibilités de pratiques anticoncurrentielles dans l'industrie de paiement par carte. MOTS-CLES SEPA, réseau, systèmes de paiement, moyens de paiement, cartes de paiement, commissions d'interchange, marchés bifaces, comportements anticoncurrentiels. TITLE The payment systems modernization – The SEPA project (Single Euro Payments Area) SUMMARY The fragmentation of the retail payments environment between the 25 (or more) different member states's national systems constitutes an obstacle to completing the internal market, undermines the European monetary integration and reduces the economic efficiency of the European Union. In response to these problems, the banking industry created the SEPA. SEPA is the area where all economic actors are able to make and receive payments in euros, within Europe, whether between or within national boundaries under the same basic conditions, rights and obligations, regardless of their location. This thesis, which focuses on the SEPA building, is in the field of industrial economics. It addresses three questions : Why was it necessary to establish the SEPA ? What does it consist of ? What will its impact on the retail payments environment in euros be ? The first chapter presents the retail payments environment in Europe after the introduction of the single currency. By using economic theories on network industries, it describes the unification's steps of this environment. The second chapter provides a detailed vision of the SEPA. It explains its effects through a costs-benefits analysis, then shows the state of its implementation. Finally, the third chapter reveals the unplanned effects of SEPA. By raising the contribution of the literature on two-sided markets, it treats interchange fees and the possibility of anticompetitive behavior in the card payment industry. ii KEYWORDS SEPA, network, payment systems, payment means, payment cards, interchange fees, two- sided markets, anticompetitive behavior. Laboratoire d’Analyse et de Recherche Économiques : économie et finance internationales Université Montesquieu-Bordeaux IV - Bâtiment Recherche Economie - Avenue Léon Duguit 33608 Pessac cedex. iii L'Université de Bordeaux IV n'entend donner aucune approbation ni improbation aux opinions émises dans cette thèse ; elles doivent être considérées comme propres à leurs auteurs. iv Remerciements J'adresse ma profonde reconnaissance à mon directeur de thèse, Monsieur Dominique Lacoue-Labarthe, pour la confiance qu'il m'a accordée en me proposant cette thèse. Ses conseils judicieux et sa rigueur ont favorisé la maturation de mes réflexions et l'avancement de ce travail. Je tiens également à remercier le professeur Gilles Jacoud et M. Dhafer Saïdane, maître de conférences à Lille 3, pour m'avoir fait l'honneur de rapporter cette thèse. Je remercie aussi le professeur Sophie Brana pour avoir accepté de participer à ce jury. Enfin, mes pensées se tournent vers ma famille. Merci à mon père qui m'a toujours poussé dans les études et qui m'a incité à atteindre les plus hauts niveaux. Merci à ma mère qui m'a aidé à avancer pendant les moments les plus difficiles par son soutien, ses encouragements et ses conseils. Merci à Jérôme pour m'avoir supporté lors de la rédaction de cette thèse et pour l'immense patience dont il a fait preuve. Et merci à mes frères et sœurs, Hermann, Stéphanie et Annette, qui ont toujours cru en moi. v À mes parents, vi O bôbô dior, o siyô o bôbô dior, o simayô o bobo dior ; C'est pour toi-même, si tu le fais bien tu en recevras les gratifications, si tu le fais mal tu en subiras les conséquences. vii SOMMAIRE INTRODUCTION GENERALE ................................................................................... 1 CHAPITRE 1 : L'ENVIRONNEMENT DES PAIEMENTS DE DETAIL..................... 13 Introduction......................................................................................................................................................... 14 Section 1. Les principaux acteurs de l'environnement des paiements............................................................ 15 Section 2. Les instruments et les systèmes de paiement dans la zone euro..................................................... 26 Section 3. Analyse économique de l’environnement des paiements................................................................ 44 Section 4. Le besoin de moderniser l'environnement des paiements de détail en euros ............................... 60 Conclusion ........................................................................................................................................................... 79 CHAPITRE 2 : L’ESPACE UNIQUE DE PAIEMENT EN EUROS ........................... 81 Introduction......................................................................................................................................................... 82 Section 1. Présentation de l’Espace unique de paiement en euros.................................................................. 83 Section 2. Les effets du SEPA sur l'environnement des paiements............................................................... 115 Section 3. Réseaux et changements technologiques : le passage à SEPA ..................................................... 143 Conclusion ......................................................................................................................................................... 158 CHAPITRE 3 : LES LACUNES DE L’ESPACE UNIQUE DE PAIEMENT EN EUROS ............................................................................................................................... 162 Introduction....................................................................................................................................................... 163 Section 1. Les effets du SEPA sur le secteur des paiements par carte.......................................................... 164 Section 2. L’allocation des prix dans les systèmes de carte ........................................................................... 175 Section 3. Les commissions d’interchange face aux suspicions d’entente et d’abus de position dominante (antitrust)........................................................................................................................................................... 208 Conclusion ......................................................................................................................................................... 229 CONCLUSION GENERALE................................................................................... 233 ANNEXE 1 : LE SYSTEME DE CARTE ................................................................ 241 BIBLIOGRAPHIE ................................................................................................... 244 Sitographie......................................................................................................................................................... 273 viii Introduction générale La monnaie est un intermédiaire indispensable aux échanges. Elle est transmise entre les agents économiques à travers des instruments de
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