Card Payments in Poland: Determinants and Prospects

Lukasz Goczek and Bartosz Witkowski

Gospodarka Narodowa. The Polish Journal of Economics, 2015, issue 3, 159-177

Abstract: The paper examines Poland’s card payment market. It analyzes the determinants of card transactions and makes projections for the development of this market from 2015 to 2017. Studies point to a strong relationship between the development of cashless transactions and the rate of economic growth recorded by countries, the authors say. The article seeks to identify the key factors driving the card payment market, such as the number and value of card transactions, the number of cards held by individuals, and the number of electronic-funds-transfer-at-point-of-sale (EFTPOS) terminals. The authors build models based on panel data from European Union countries from 2000-2012. They use Blundell and Bond’s system-GMM estimator to treat the results in terms of causality rather than coexistence of the obtained effects. The role of trust in society and GDP growth are found to be important determinants of the development of the cashless transactions market. The authors’ projections suggest that Poland’s cashless transactions market will develop rapidly in the years ahead even if economic growth is slower than projected.

Keywords: card payments; non-cash transactions; retail payments (search for similar items in EconPapers)
JEL-codes: E42 E58 (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:sgh:gosnar:y:2015:i:3:p:159-177

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