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My Reflections on Money 20/20

Although Anil Aggarwal had personally invited me back in 2012 to Money20/20, I only made it to the conference this year. Catching up with attendees after past conferences, I always regretted not going. This year’s...

National Institute of Bank Management

NIBM
We invited Bob to conduct three workshops at the National Institute of Bank Management in Pune, India on the state of FinTech globally, cryptocurrencies and digital lending to SMEs during our training program for senior managers at financial institutions in December 2019. Bob brought an international perspective regarding the application and implementation of innovative solutions to increase access to financial products to previously underserved market segments. He also provided insights for the Indian market. His workshops were highly praised by participants. We would highly recommend him as an engaging presenter to those that are looking for insightful analysis of the FinTech industry and its impact on financial markets and the economy more broadly.
- Deepankar Roy, Assistant Professor
Article

New Paper Explores Incentives to Reduce Carbon in the Atmosphere

Chakravorti along with three researchers at Palo Alto Research Center publish working paper titled, Incentivizing Gigaton-Scale Carbon Dioxide Removal via a Climate-Positive Blockchain.
Article

New Payment Technologies: Back to Basics

A core function of any banking system is the provision of payments. However, a greater number of non-banks are becoming part of the payments landscape. Payments can be made via fiat or crypto currencies, bank...
Article

New Working Paper Explores Policies to Scale Voluntary Carbon Markets

Based on interviews with market participants and our own research, Chakravorti, Cook, DeAlto and Rioux make several recommendations to improve transparency, efficiency, and trust in VCMs. Today, corporates are facing increasing pressure to make net-zero...
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News

Recent activities of Chakra Advisors LLC are covered here.
Article

Payment Instrument Choice: The Case of Prepaid Cards

In this article, Chakravorti and Lubasi conclude that prepaid applications potentially provide a more cost-effective means to transfer funds when: 1) recipients of funds do not have transactions accounts; 2) disbursers of funds do not...
Topic

Payments

The Payments topic covers research in the area of all types of payments from consumer, business, government, interbank, cross border, and others.

Article

Platform Competition In Two-Sided Markets: The Case Of Payment Networks

Chakravorti and Roson construct a model to study competing payment networks, where networks offer differentiated products in terms of benefits to consumers and merchants. We study market equilibria for a variety of market structures: duopolistic...
Topic

Policy and Regulation

The Policy and Regulation topic covers existing and future policy and regulation of financial markets.

Article

Pricing in Retail Payment Systems: A Public Policy Perspective on Pricing of Payment Cards

The provision of retail payment services is complex with many participants engaging in a series of interrelated bilateral transactions and subject to large economies of scale and scope along with strong adoption, usage and network...
Topic

Product Analyses

The Product Analyses topic covers research in new financial products.

Article

Professors Carbo and Rodriguez along with Bob Chakravorti Advising World Bank

Professors Santiago Carbo Valverde and Francisco Rodriguez Fernandez, members of Chakra Advisors’ Advisory Board, and Bob are advising the World Bank Group. They are part of a team of consultants studying how incentives impact the...
Article

Regulating Retail Payment Systems: The Case of Payment Cards

Bolt and Chakravorti discuss different types of market interventions by public authorities in retail payment markets. They concentrate on three types of market interventions. First, they analyze the impact of removing pricing restrictions placed on...
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Research

Our innovative research uses cutting-edge empirical tools that informs strategic business decisions, shapes sound public policy, and enables greater financial inclusion. Our team's research has appeared in well-known industry, central bank, academic outlets, and cited...
Article

Retail Payment Economics: Theory and Practice

In his presentation to Bank of Mexico economists and payment experts, Chakravorti presented an update of economic models that consider various forms of regulation.
Article

Rodriguez Presented Policy-Relevant Research at the 7th Joint Bank of Canada and Payments Canada Symposium

Rodriguez, a Chakra Advisors' Global Advisory Board member, presented at the 7th Joint Bank of Canada and Payments Canada Symposium.
Team

Santiago Carbo Valverde, PhD

Santiago Carbo Valverde is a Professor of Economics at the University of Granada (Spain).
Article

Scaling Voluntary Carbon Markets: A Market-Based Mechanism for Corporates to Meet Their Net-Zero Commitments

In this working paper, Chakravorti, Cook, DeAlto, and Rioux discuss how to scale voluntary carbon markets to enable us to meet our climate goals. Today, corporates are facing increasing pressure to make net-zero commitments whereby...
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Short Topic Briefs

Chakra Advisors LLC provides topical analysis on issues facing financial markets. Target audiences include industry leaders, central banks, academics, and policymakers.

Article

Small Business in the Digital Age: Recommendations for Recovery and Resilience

Greater digitization of commerce has brought enormous benefits to businesses and consumers. By using digital payment capabilities and online marketplaces, many micro, small, and medium enterprises (MSMEs) are more able to compete with larger firms...
Article

Surcharging and Honor-All-Cards Rules

Bob Chakravorti discusses surcharging and honor-all-cards rules for payment cards. Generally, merchants charge the same price regardless of the type of payment instrument used to make purchases. In many jurisdictions, merchants are not allowed to...
Article

The Economics of Retail Payments: Theory and Practice

In his lecture as part of a broader course on Effective Oversight of Payment and Settlement Systems: Maintaining Financial Plumbing edited by Charles Kahn, Chakravorti describes the underlying economics of retail payments including substitution of...
Article

The Evolving Payments Landscape And Its Implications For Monetary Policy

The key questions that Chakravorti asks in this book chapter are: (1) How is the payment system evolving? (2) What are the economic forces driving the adoption of new payment instruments? (3) Would recent developments...