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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. Chen, S. & Doerr, S. & Frost, J. & Gambacorta, L. & Shin, H.S., 2023. "The fintech gender gap," Journal of Financial Intermediation, Elsevier, vol. 54(C).
    2. 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).
    3. David Bounie & Youssouf Camara, 2020. "Card-Sales Response to Merchant Contactless Payment Acceptance," Post-Print hal-02296302, HAL.
    4. Camara,Youssouf, 2021. "Digital Payments and Business Resilience : Evidence in the Time of COVID-19," Policy Research Working Paper Series 9665, The World Bank.
    5. Ashwarya Kapoor & Rajiv Sindwani & Manisha Goel, 2024. "Mobile Wallets: Theoretical and Empirical Analysis," Global Business Review, International Management Institute, vol. 25(2_suppl), pages 211-228, April.
    6. Haitham Mohamed Elsaid, 2021. "A review of literature directions regarding the impact of fintech firms on the banking industry," Qualitative Research in Financial Markets, Emerald Group Publishing Limited, vol. 15(5), pages 693-711, October.
    7. Lilis Ardini & Mochammad Fahlevi & Mochamad Dandi & Olivia Putri Dahlan & Sahara Putri Dahlan, 2024. "Digital Financial Literacy and Its Impact on Financial Skills and Financial Goals in Indonesia’s Digital Payment Ecosystem," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 7, pages 181-199.
    8. Yang, Tong & Zhang, Xun, 2022. "FinTech adoption and financial inclusion: Evidence from household consumption in China," Journal of Banking & Finance, Elsevier, vol. 145(C).
    9. David Bounie & Youssouf Camara, 2019. "Card-Sales Response to Merchant Contactless Payment Acceptance: Causal Evidence," Working Papers hal-02296302, HAL.
    10. Bounie, David & Camara, Youssouf, 2020. "Card-sales response to merchant contactless payment acceptance," Journal of Banking & Finance, Elsevier, vol. 119(C).
    11. Antonio Gargano & Alberto G. Rossi, 2024. "Goal Setting and Saving in the FinTech Era," Journal of Finance, American Finance Association, vol. 79(3), pages 1931-1976, June.

    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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