Wilko Bolt appointed as Professor of Payment Systems at VU University
Since January 1st 2017, Wilko Bolt - senior economist in the Economics & Research department of DNB - has been appointed as a Professor of Payment Systems at the Faculty of Economics and Business Administration of the VU University Amsterdam.
Wilko Bolt will be researching the behavioural aspects of the various players in the payment system: from consumers to retailers and from banks to fintech companies. According to Wilko Bolt, the payment system is at the intersection of monetary economics, banking and industrial organisation: "Pricing, competition, security and regulation all play an important role. Think for example of all the rules imposed by Brussels that apply to payment services – they make the economic decision-making process even more complex." Innovation and technology in the payment system are also high on Bolt's research agenda.
Wilko Bolt will also be teaching. "I want to encourage students to discover this new area. Payment systems are at the core of the economy, and have an increasingly international dimension. These systems are not a "free lunch" and the distribution of costs and revenues is a very complicated issue. Payment systems open up new opportunities, but also gives rise to new risks and problems. I look forward to giving students the chance to study these issues.”
Payment Systems is a new part-time chair at the Faculty of Economics and Business Administration of VU University Amsterdam. Payment systems are an emerging field of study. The new chair is a joint initiative of the Finance department at the VU, the Dutch Payments Association and De Nederlandsche Bank.