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Network effects at retail payments market: evidence from Russian merchants

Author

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  • Egor Krivosheya

    (Moscow school of management SKOLKOVO, National Research University Higher School of Economics, Russian Federation)

Abstract

This research examines the role of network externalities in card acceptance by merchants on the retail payments market in Russia. The work empirically tests the effects of both direct and indirect network externalities for the merchants? card acceptance probability based on the representative survey of 800 traditional (offline) merchants from all Russian regions. The main finding of this study is that the probability of cashless payments acceptance by merchants increases with the presence of direct and indirect or both types of network externalities, controlling for a large set of control variables, including merchants? characteristics and location-specific differences between the retailers. The results are robust to the changes in measures of network externalities and inclusion of shadow economy controls. The findings are significant both statistically and economically.

Suggested Citation

  • Egor Krivosheya, 2018. "Network effects at retail payments market: evidence from Russian merchants," Proceedings of Economics and Finance Conferences 6910312, International Institute of Social and Economic Sciences.
    • Handle: RePEc:sek:iefpro:6910312
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    File URL: https://iises.net/proceedings/10th-economics-finance-conference-rome/table-of-content/detail?cid=69&iid=020&rid=10312
    File Function: First version, 2018
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    Cited by:

    1. Krivosheya, Egor, 2020. "The role of financial innovations in consumer behavior in the Russian retail payments market," Technological Forecasting and Social Change, Elsevier, vol. 161(C).

    More about this item

    Keywords

    Retail payments; payment cards; network effects; merchants' acceptance; financial services;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System

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