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The role of financial innovations in consumer behavior in the Russian retail payments market

Egor Krivosheya

Technological Forecasting and Social Change, 2020, vol. 161, issue C

Abstract: This study estimates the effect of financial innovations on the frequency of cashless payments by cardholders in the Russian retail payments market. Using a representative nation-wide survey of 1500 individuals from 2017 this study finds significant robust evidence that various types of financial innovations promote activity of consumers in the retail payments market. This paper contributes to the existing literature in retail payments by empirically analyzing the effects of emerging and existing retail financial innovations on the consumers’ behavior in the Russian retail payments market. The results of the paper offer important implications for financial services providers and regulators by outlining the role of financial innovations in promoting cardholders activity.

Keywords: Retail payments; Payment cards; Consumer behavior; Financial services; Cashless payments frequency; Financial innovation (search for similar items in EconPapers)
JEL-codes: G21 D53 E42 L14 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:eee:tefoso:v:161:y:2020:i:c:s0040162520311306

DOI: 10.1016/j.techfore.2020.120304

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