Mathematical Interpretation of Global Competition between Payment Systems

Xinyu Cai, Marko Milojevic, Denis Syromyatnikov, Anastasia Kurilova and Beata Ślusarczyk
Additional contact information
Xinyu Cai: School of Labor Economics, Capital University of Economics and Business, Beijing 100070, China
Marko Milojevic: Department of Accounting and Audit, Singidunum University, 11000 Belgrade, Serbia
Denis Syromyatnikov: Department of Economy and Foreign Economic Activity, North-Caucasus Federal University, 355035 Stavropol, Russia
Anastasia Kurilova: Department of Masters Degree Programs (Business Programs), Togliatti State University, 445051 Togliatty, Russia
Beata Ślusarczyk: The Management Faculty, Czestochowa University of Technology, 42-201 Czestochowa, Poland

Mathematics, 2021, vol. 9, issue 17, 1-18

Abstract: The present study seeks to present a mathematical interpretation of the perception of new entrants to the global payments market on whether FinTech’s innovations promote competitiveness in the market. The study also quantitatively evaluates the competitive trends observed in the global payments market. The sampling frame consists of 504 respondents across 28 countries. The study is based on the analysis of the survey results using SPSS Statistics and Stata. The survey addressed four groups of factors influencing the competitiveness of the payment system (i.e., ‘Costs’, ‘Service Channels’, ‘Privacy and Security’, ‘Quality and Efficiency’). The respondents believe that FinTech innovations have a strong positive effect on the payment system’s competitiveness (M = 4.32). The results of the present study may be of interest to specialists and researchers who deal with the competitive dynamics of the global payments business, with payment innovations, and with convergence and transformation of the payments industry.

Keywords: competitive dynamics; competitiveness; financial technology (FinTech); payment innovation; payment system (search for similar items in EconPapers)
JEL-codes: C (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://www.mdpi.com/2227-7390/9/17/2070/pdf (application/pdf)
https://www.mdpi.com/2227-7390/9/17/2070/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jmathe:v:9:y:2021:i:17:p:2070-:d:623026

Access Statistics for this article

Mathematics is currently edited by Ms. Emma He

More articles in Mathematics from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().