Before revision:  In this paper we consider the in- teraction due to payments and, by investigating a large proprietary dataset of Italian firms, we characterize the topological properties of the payment network. We then focus on the relation between the net- work of payments and the risk of firms.
After revision:  In this paper we consider the in- teraction due to payments and, by investigating a large proprietary dataset of Italian firms, we characterize the topological properties of the payment networks, and then we focus our attention on the relation between the net- work of payments and the risk of firms.