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Mobile Wallet and Entrepreneurial Growth

Author

Listed:
  • Sumit Agarwal
  • Wenlan Qian
  • Bernard Y. Yeung
  • Xin Zou

Abstract

Using mobile wallet and card transaction data from a leading Singapore bank, this paper studies the effect of a mobile wallet payment technology introduction in 2017 on business growth. We find that mobile wallet usage doubled after the new technology introduction, and the improved payment efficiency generated a significant spillover effect. Small merchants experienced a monthly increase in debit and credit card sales amount (count) of 3.5 percent (3.4 percent) compared to large merchants. The payment technology promoted sales growth primarily for new businesses by facilitating customer acquisition.

Suggested Citation

  • Sumit Agarwal & Wenlan Qian & Bernard Y. Yeung & Xin Zou, 2019. "Mobile Wallet and Entrepreneurial Growth," AEA Papers and Proceedings, American Economic Association, vol. 109, pages 48-53, May.
    • Handle: RePEc:aea:apandp:v:109:y:2019:p:48-53
    Note: DOI: 10.1257/pandp.20191010
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    Citations

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    Cited by:

    1. David Bounie & Youssouf Camara, 2020. "Card-Sales Response to Merchant Contactless Payment Acceptance," Post-Print hal-02296302, HAL.
    2. Bounie, David & Camara, Youssouf, 2020. "Card-sales response to merchant contactless payment acceptance," Journal of Banking & Finance, Elsevier, vol. 119(C).
    3. Chen, S. & Doerr, S. & Frost, J. & Gambacorta, L. & Shin, H.S., 2023. "The fintech gender gap," Journal of Financial Intermediation, Elsevier, vol. 54(C).
    4. Bounie, David & Camara, Youssouf & Galbraith, John W., 2023. "Consumer mobility and expenditure during the COVID-19 containments: Evidence from French transaction data," European Economic Review, Elsevier, vol. 151(C).
    5. Camara,Youssouf, 2021. "Digital Payments and Business Resilience : Evidence in the Time of COVID-19," Policy Research Working Paper Series 9665, The World Bank.
    6. Yang, Tong & Zhang, Xun, 2022. "FinTech adoption and financial inclusion: Evidence from household consumption in China," Journal of Banking & Finance, Elsevier, vol. 145(C).
    7. David Bounie & Youssouf Camara, 2019. "Card-Sales Response to Merchant Contactless Payment Acceptance: Causal Evidence," Working Papers hal-02296302, HAL.

    More about this item

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • L86 - Industrial Organization - - Industry Studies: Services - - - Information and Internet Services; Computer Software
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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