Answers are grounded in this paper and cite their sources.
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.
No takes yet. Share an insight, caveat, or question.
Agarwal et al. (2019) studied this question.
Synapse has enriched 10 related papers. Consider them for comparative context: