The race to dominate the mobile payments platform: Entry and expansion strategies

Staykova, Kalina S.; Damsgaard, Jan

doi:10.1016/j.elerap.2015.03.004

Cited by 68 publications

(39 citation statements)

References 34 publications

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“…This is demonstrated by, for example, the fact that in February 2016, Japan was considering legal changes that would define Bitcoin and other cryptocurrencies to be treated as currencies. 9 While there are still a host of unresolved question related to digital payments and payment platforms in general -ranging from the trust issues to payment ecosystems -the decentralized nature of blockchain technology create a new set of so-far unaddressed research challenges that emerge when different platforms and services are designed, developed, introduced and eventually used.…”

Section: Payment Systems and Platformsmentioning

confidence: 99%

“…Digital payments are simply payments that are conducted through digital means, for example as near field communication transactions between electronic wallet and a cash register, or through digital money [9]. Consequently digital platform is "a proprietary or open modular layered technological architecture that support efficient development of innovative derivatives, which are embedded in a business or social context."…”

Section: Key Definitionsmentioning

confidence: 99%

See 1 more Smart Citation

Opportunities and Risks of Blockchain Technologies: A Research Agenda

Lindman¹,

Tuunainen²,

Rossi³

2017

Proceedings of the Annual Hawaii International Conference on System Sciences

196

105

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Section: Payment Systems and Platformsmentioning

confidence: 99%

Section: Key Definitionsmentioning

confidence: 99%

Opportunities and Risks of Blockchain Technologies: A Research Agenda

Lindman¹,

Tuunainen²,

Rossi³

2017

Proceedings of the Annual Hawaii International Conference on System Sciences

196

105

View full text Add to dashboard Cite

show abstract

“…They also introduced card readers and an international system of document flow and payment. More companies in this industry could benefit fully from the effects of these innovative ideas and investments (Leblebici, 2012;Cieślik, 2014;Staykova, 2015).…”

Section: Innovative Imitationmentioning

confidence: 99%

Imitation and innovation in business environment

Wierzbicki

Nowodziński

2019

Production Engineering Archives

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The main aim of this article is to demonstrate that in a dynamically changing business environment, an organization should focus on embracing imitation strategies such as a safer form of building up its market position. The author addresses issues of innovation and imitation, provides definitions and defines realistic conditions and advantages of imitation strategies. Innovation does not guarantee a company's market success. The research conducted has shown that imitation is not only a commonly used strategy of creating competitiveness, but it is also the foundation of many firms’ success stories. Innovative imitation, technological diffusion, creative imitation should be treated equally as innovation – as a another development strategy, different form of strategy implementation, assuming less risk and wider market access with less risk and cost.

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“…It is clear that mobile wallets through their services enable interactions between consumers and merchants, involving payments of goods/services and other forms of interactions based on the wallet value added services that consumers can benefit from it. A multi-sided platform has the following characteristics (Staykova & Damsgaard, 2015;Kazan & Damsgaard, 2013):…”

Section: The Mobile Wallet Ecosystemmentioning

confidence: 99%

“…Banks already hold customers" financial accounts and are established issuers of payment cards and other payment instruments, allowing them to obtain economies of scale and scope. However, to take full advantage of these opportunities, banks need to cope with factors such as time-to-market, speed of execution, new security and authentication procedures, in order to gain a deep understanding of the mobile environment (Staykova & Damsgaard, 2015;Tabakovic & Sylvest Olsen, Mobile Wallet: Strategic Options for Banks, 2013).…”

Section: From Mobile Payments To Mobile Walletsmentioning

confidence: 99%

Fintech and the Future of the Payment Landscape: The Mobile Wallet Ecosystem - A Challenge for Retail Banks?

Omarini¹

2018

IJFR

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Technological innovation, recent regulatory initiatives and mass consumers’ changing expectations are quickly re-shaping the payments’ sector, paving the way to a more open environment where even non-banking players see a huge opportunity to gain momentum and disrupt the incumbents, namely the financial institutions. Fintech startups, high-tech firms but also mobile network operators are indeed challenging the status quo with their innovative propositions, trying to disintermediate banks from their traditional function of payment service providers. In the payments market, mobile wallets represent one of the innovations with highest potential of growth in the consumer-to-business segment. Payment market is a large and profitable segment for retail banking. Besides revenue streams from card payment transactions, new sources of revenueas and value creation have been unleashed by digital payments. This paper contributes to provide a better understanding of the mobile wallet ecosystem, also analyzing a set of four business cases so to identify potential sources of competitive advantage for retail banks in a market characterized by an increased non-bank competition. Mobile wallet platforms can be a powerful tool for banks to cope with the customer-centric approach. The structure of the paper analyse the recent trends in the financial services industry, involving the entry of new players (Fintech); the evolution of payments in the market; the concept of ecosystem applied to the new payment landscape; and it outlines the banks’ roles in the new mobile payment environment.

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The race to dominate the mobile payments platform: Entry and expansion strategies

Cited by 68 publications

References 34 publications

Opportunities and Risks of Blockchain Technologies: A Research Agenda

Opportunities and Risks of Blockchain Technologies: A Research Agenda

Imitation and innovation in business environment

Fintech and the Future of the Payment Landscape: The Mobile Wallet Ecosystem - A Challenge for Retail Banks?

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