Cashless payment and economic growth

Tee, Hock-Han; Ong, Hway‐Boon

doi:10.1186/s40854-016-0023-z

Cited by 107 publications

(97 citation statements)

References 20 publications

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“…Generally, in the course of time, efforts have been made to assess the impact of cashless policy vis-à-vis electronic payment on several economic variables in Nigeria [4,7,36,37]. Outside Nigeria as well, studies have established a link between electronic payment and economic growth, financial inclusion and household consumption [24,25,29,35].…”

Section: Open Accessmentioning

confidence: 99%

Electronic payment adoption and consumers’ spending growth: empirical evidence from Nigeria

2020

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The study investigates the determinants of electronic payment adoption and the role of electronic payment on consumers' purchase decisions as well as its effects on consumers' spending growth in Nigeria. To achieve this, both primary and secondary data were deployed. The primary data were collected through a cross-sectional survey of banks' customers who have experienced the e-payment modes in Lagos state, Nigeria. The questionnaire was designed in line with Likert scale and validated. Fifty copies of the questionnaire were piloted. The copies retrieved were subjected to Cronbach alpha test of reliability. All the six variables were found to be reliable ranging between 0.725 and 0.828 Cronbach alpha values, which are within the acceptable limit. The sample size for this study, as determined through Cochran formulae is 384. In like manner, the instrument of data collection was administered on 420 respondents by using the multistage sampling technique to sample respondents across five divisions (locations) of Lagos. The data retrieved were analysed using descriptive (frequency and percentage) and inferential statistics (Pearson correlation, hierarchical regression analysis and analysis of variance). The results revealed that there is a positive significant relationship between electronic payment systems determinants (convenience, security and safety, trust, social influence) and e-payment adoption in Nigeria. These variables accounted for more than half ( 3 / 5 ) of what influences consumers' adoption of e-payment mode of transaction in Nigeria. The results from the estimations show that factors such as educational attainment, financial inclusion, income level, internet service availability and other financial infrastructures such as point-of-sale machines and mobile banking services are critical determinants of e-payment adoption in Nigeria. The results also indicate that electronic payment influences consumers' purchase decisions and thus increasing consumers' spending growth in Nigeria. The policy implication advanced by this study is that the Nigerian government can leverage on electronic payment to increase consumers' spending and thus improve aggregate demand which will consequently stimulate investment and economic growth in the country.

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Section: Open Accessmentioning

confidence: 99%

Electronic payment adoption and consumers’ spending growth: empirical evidence from Nigeria

2020

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“…A recent theoretical and empirical contribution is Durusu-Ciftci et al (2017). The literature on the effect of different types of payments on growth, however, is thin; see, e.g., Tee and Ong (2016). We found an obscure reference to research published in the early 1990s on stages of banking and economic development: St Hill (1992).…”

Section: Stages Of Development In Payment Systems and Related Literaturementioning

confidence: 87%

Stages Of Development Of Payment Systems : Leapfrogging Across Countries And MENA's Place In The World

Gevaudan¹,

Lederman²

2020

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The Policy Research Working Paper Series disseminates the findings of work in progress to encourage the exchange of ideas about development issues. An objective of the series is to get the findings out quickly, even if the presentations are less than fully polished. The papers carry the names of the authors and should be cited accordingly. The findings, interpretations, and conclusions expressed in this paper are entirely those of the authors. They do not necessarily represent the views of the International Bank for Reconstruction and Development/World Bank and its affiliated organizations, or those of the Executive Directors of the World Bank or the governments they represent.

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“…Therefore, this paper considers neutral feedback as a negative review. Positive reviews often have positive effects on individuals' attitudes toward products (Floyd et al, 2014;Mukhopadhyay, 2016). In contrast, negative reviews usually negatively affect individual perception of products (C. Luo, X. Luo, Xu, Warkentin, & Sia, 2015;Cheng & Ho, 2015;Floyd et al, 2014;Berger, Sorensen, & Rasmussen, 2010).…”

Section: Literature Reviewmentioning

confidence: 99%

The Dynamic Effects of Online Product Reviews on Purchase Decisions

Chen

Kou

Peng

2018

Technological and Economic Development of Economy

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Previous studies have demonstrated that online reviews play an important role in the purchase decision process. Though the effects of positive and negative reviews to consumers’ purchase decisions have been analyzed, they were examined statically and separately. In reality, online review community allows everyone to express and receive opinions and individuals can reexamine their opinions after receiving messages from others. The goal of this paper is to study how potential customers form their opinions dynamically under the effects of both positive and negative reviews using a numerical simulation. The results show that consumers with different membership levels have different information sensitivities to online reviews. Consumers at low and medium membership levels are often persuaded by online reviews, regardless of their initial opinion about a product. On the other hand, online reviews have less effect on consumers at higher membership levels, who often make purchase decisions based on their initial impressions of a product.

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Cashless payment and economic growth

Cited by 107 publications

References 20 publications

Electronic payment adoption and consumers’ spending growth: empirical evidence from Nigeria

Electronic payment adoption and consumers’ spending growth: empirical evidence from Nigeria

Stages Of Development Of Payment Systems : Leapfrogging Across Countries And MENA's Place In The World

The Dynamic Effects of Online Product Reviews on Purchase Decisions

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