Assessing the relationship between non-cash payments and various economic indicators

Abstract

This study is aimed at evaluating the correlation between determinants of non-cash payments (ATMs, number of bank branches, and number of mobile phone users) and various economic indicators (broad money, inflation, consumer prices) as well as further studying which of the factors and to what extent influence each other in different periods. Non-cash payments are provided by ATMs. The sample considers panel data on nine developing countries. The data for calculation were taken from The World Bank, for Kazakhstan – from the Bureau of National Statistics of the Republic of Kazakhstan. The data collected during the study were analyzed using the SPSS software. Spearman’s correlation analysis was used. The results obtained in the empirical study briefly showed that the alternative hypothesis is confirmed for the period 2004–2009 (that the existing relationships are significant), at the same time, the null hypothesis was confirmed in terms of the level of significance for the period 2019–2020. Accordingly, this study showed that modern developments differ from those provided earlier and financial technology transformation is still in the process. The results of this study also indicated the need for further studies of non-traditional measures of financial development, which can lead to sustainable economic growth in the post-crisis period. AcknowledgmentsThe study was carried out within the framework of program targeted IRN OR11465433 funding by the Science Committee of the Ministry of Education and Science of the Republic of Kazakhstan “Development of the concept and mechanisms of balanced territorial development of the economy and society of Kazakhstan”.

Indicators of banks and economic indicators on non-cash payments in ASEAN-7 countries

“…This means that the variable broad money significantly and positively affects Automated Teller Machines (ATM), indicating that the higher the level of broad money, the higher the usage of Automated Teller Machines (ATM). This study supports previous research by Kredina et al (2022) that found a strong, positive, and significant correlation between Broad Money and ATM in 2007 and 2008.…”

“…This research uses secondary data with the dependent variable being Automated Teller Machines (ATM). This study is also an extension of previous research conducted by Kredina et al (2022) which discussed the influence of mobile cellular subscriptions, commercial bank branches, broad money, and inflation on Automated Teller Machines. Meanwhile, the independent variables are commercial bank branches, broad money, and inflation obtained from the World Bank.…”

“…There is previous research supporting this hypothesis, conducted by Kredina et al (2022) which found a strong, positive, and significant correlation between Broad Money and ATM in 2007 and 2008, while in 2019 and 2020, the relationship between the two completely disappeared. Similar research was also conducted by Afifah (2017), who found a positive relationship between M2/Broad Money and ATM in both the short and long term.…”

“…Furthermore, based on the research findings of Kredina et al (2022) also added in their study that the number of bank branch offices is not correlated with the number of ATMs, as there are often more ATMs than bank branches. However, according to Petkov (2023), bank branch offices are still crucial for increasing financial inclusion through the services they provide.…”

Islamic Law Perspective in the Application of My Pertamina as a Non-Cash Payment System and Control of Fuel Subsidy Flow

“…The deployment of fuel purchases through the My Pertamina program elicited a variety of responses from the public. The community's responses are then shared on their individual social media platforms with a variety of comments, some of which are positive, but not few of which are negative (Kredina et al, 2022).…”