Competition of payment systems in Russia: Numerical analysis

Mathematical Interpretation of Global Competition between Payment Systems

“…Source: Bott and Milkau [4], Berg et al [5], Jeziorski [29], The Bank of New York Mellon Corporation [30], WorldPay [26].…”

“…The cost of maintaining and servicing the technology was ranked as less important. The scales are ordinal and range from 'Low importance' (1) to 'High importance' (5). The letters A-C indicate statistically significant differences in the importance of factors at p ≤ 0.005 (after applying the Bonferroni correction).…”

“…This finding suggests a competitive payment system must offer both innovative products and services to create the need and inform about the existing proposals. The scales are ordinal and range from 'Low importance' (1) to 'High importance' (5). The letters A-B (none of the criteria fell into the C category) indicate statistically significant differences in the importance of factors at p ≤ 0.005 (after applying the Bonferroni correction).…”

“…Hence, companies that utilize novel tech can gain more competitive advantages. The scales are ordinal and range from 'Low importance' (1) to 'High importance' (5). The letters A-B (none of the criteria fell into the C category) signify statistically significant differences in the importance of factors at p ≤ 0.005 (after applying the Bonferroni correction).…”

“…Payment systems are of central importance for supporting financial inclusion; a transaction account allows people to make and receive payments in a cost-effective way [3]. Today, the global payments landscape is experiencing fundamental change [4], driven by the emergence of new technology and business methods, the rise of new economic powers, and changes in the global currency landscape [5]. A payment nowadays is viewed as something more than just the settlement of a transaction or the movement of funds.…”