Financial innovations role in consumer behavior at Russian retail payments market

Egor Krivosheya () and Polina Belyakova ()
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Egor Krivosheya: Moscow School of Management SKOLKOVO; National Research University - Higher School of Economics
Polina Belyakova: National Research University - Higher School of Economics

No 9511955, Proceedings of Economics and Finance Conferences from International Institute of Social and Economic Sciences

Abstract: This study estimates the effect of contactless payment and various financial innovations on the frequency of payments in terms of number of transactions for different individuals at the Russian retail payments market. Using the representative nation-wide survey of 1500 individuals, it was found that various types of financial innovations promote activity of consumers at the retail payments market. This paper contributes to the existing literature in payment economics by empirically analyzing the effects of emerging and existing retail financial innovations on the consumers? behavior at Russian retail payments market. The results of the paper provide important implications for both consumers and merchants, as well as help to overcome barriers that prevent spread and use various financial innovations in the future.

Keywords: Retail payments; payment cards; customers? behavior; financial services; benefits; financial innovation (search for similar items in EconPapers)
JEL-codes: D53 E42 G21 (search for similar items in EconPapers)
Pages: 40 pages
Date: 2019-10
New Economics Papers: this item is included in nep-ban, nep-cis, nep-mac and nep-pay
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Published in Proceedings of the Proceedings of the 12th Economics & Finance Conference, Dubrovnik, Oct 2019, pages 166-205

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Persistent link: https://EconPapers.repec.org/RePEc:sek:iefpro:9511955

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