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Benefits of the retail payments card market: Evidence from Russian merchants

Author

Listed:
  • Egor Krivosheya

    (Moscow school of management SKOLKOVO)

  • Andrew Korolev

    (Moscow school of management SKOLKOVO)

Abstract

This article evaluates merchants' benefits resulting from the participation in the retail payments market. Using surveys to obtain a representative sample of 800 traditional (offline) Russian merchants, the article finds significant, robust evidence in favor of positive merchant' benefits. This study further separates the benefits into direct and opportunity finding that the non-welfare improving regulatory initiatives might result from the failure to account opportunity benefits of merchants. This article also examines the factors affecting the level of merchants' benefits. Results show that factors affecting the value of benefits and the probability to accept payment cards differ. Findings imply that unbalanced intervention may be detrimental to the agents' welfare and propose a mechanism for ex-ante evaluation of the effect of shocks and interventions.

Suggested Citation

  • Egor Krivosheya & Andrew Korolev, 2017. "Benefits of the retail payments card market: Evidence from Russian merchants," Proceedings of International Academic Conferences 4607900, International Institute of Social and Economic Sciences.
    • Handle: RePEc:sek:iacpro:4607900
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    File URL: https://iises.net/proceedings/31st-international-academic-conference-london/table-of-content/detail?cid=46&iid=026&rid=7900
    File Function: First version, 2017
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    Cited by:

    1. Egor A. Krivosheya, 2018. "Evaluating Efficient Multilateral Interchange Fees: Evidence from End-User Benefits," HSE Working papers WP BRP 66/FE/2018, National Research University Higher School of Economics.

    More about this item

    Keywords

    Retail payments; payment cards; merchant?s acceptance; benefits; 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
    • D53 - Microeconomics - - General Equilibrium and Disequilibrium - - - Financial Markets

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