The Information Costs,Compatible Uses and Interchange Fee in Bankcard Payment System:Competition Between Credit Card and Debit Card Based on the Sole Two-sided Market
构建了信息成本和兼容使用限制下信用卡与借记卡竞争模型，揭示了中国银行卡支付系统的发展逻辑，指出统一交换费扭曲了定价结构，建议差异化交换费。
This paper builds a model of payment instruments competing between credit card and debit card under the restrictions of information costs and compatible uses of credit and debit cards by merchant,It unveils the inherent logic of the development of bankcard payment system in China.The compatibility increases the cardholders' surplus.It also shows that the same interchange fee for credit card and debit card is the distortion to the pricing structure,because the fee did not reflect the staged character of bankcard payment system in China under the restrictions of information costs.Then,the different interchange fee is suggested.