Mathematical Interpretation of Global Competition between Payment Systems
The present study seeks to present a mathematical interpretation of the perception of new entrants to the global payments market on whether FinTech’s innovations promote competitiveness in the market. The study also quantitatively evaluates the competitive trends observed in the global payments mark...
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doaj-5d796ec71d0d4d1c9070211ab6b6caee2021-09-09T13:52:16ZengMDPI AGMathematics2227-73902021-08-0192070207010.3390/math9172070Mathematical Interpretation of Global Competition between Payment SystemsXinyu Cai0Marko Milojevic1Denis Syromyatnikov2Anastasia Kurilova3Beata Ślusarczyk4School of Labor Economics, Capital University of Economics and Business, Beijing 100070, ChinaDepartment of Accounting and Audit, Singidunum University, 11000 Belgrade, SerbiaDepartment of Economy and Foreign Economic Activity, North-Caucasus Federal University, 355035 Stavropol, RussiaDepartment of Masters Degree Programs (Business Programs), Togliatti State University, 445051 Togliatty, RussiaThe Management Faculty, Czestochowa University of Technology, 42-201 Czestochowa, PolandThe present study seeks to present a mathematical interpretation of the perception of new entrants to the global payments market on whether FinTech’s innovations promote competitiveness in the market. The study also quantitatively evaluates the competitive trends observed in the global payments market. The sampling frame consists of 504 respondents across 28 countries. The study is based on the analysis of the survey results using SPSS Statistics and Stata. The survey addressed four groups of factors influencing the competitiveness of the payment system (i.e., ‘Costs’, ‘Service Channels’, ‘Privacy and Security’, ‘Quality and Efficiency’). The respondents believe that FinTech innovations have a strong positive effect on the payment system’s competitiveness (M = 4.32). The results of the present study may be of interest to specialists and researchers who deal with the competitive dynamics of the global payments business, with payment innovations, and with convergence and transformation of the payments industry.https://www.mdpi.com/2227-7390/9/17/2070competitive dynamicscompetitivenessfinancial technology (FinTech)payment innovationpayment system |
collection |
DOAJ |
language |
English |
format |
Article |
sources |
DOAJ |
author |
Xinyu Cai Marko Milojevic Denis Syromyatnikov Anastasia Kurilova Beata Ślusarczyk |
spellingShingle |
Xinyu Cai Marko Milojevic Denis Syromyatnikov Anastasia Kurilova Beata Ślusarczyk Mathematical Interpretation of Global Competition between Payment Systems Mathematics competitive dynamics competitiveness financial technology (FinTech) payment innovation payment system |
author_facet |
Xinyu Cai Marko Milojevic Denis Syromyatnikov Anastasia Kurilova Beata Ślusarczyk |
author_sort |
Xinyu Cai |
title |
Mathematical Interpretation of Global Competition between Payment Systems |
title_short |
Mathematical Interpretation of Global Competition between Payment Systems |
title_full |
Mathematical Interpretation of Global Competition between Payment Systems |
title_fullStr |
Mathematical Interpretation of Global Competition between Payment Systems |
title_full_unstemmed |
Mathematical Interpretation of Global Competition between Payment Systems |
title_sort |
mathematical interpretation of global competition between payment systems |
publisher |
MDPI AG |
series |
Mathematics |
issn |
2227-7390 |
publishDate |
2021-08-01 |
description |
The present study seeks to present a mathematical interpretation of the perception of new entrants to the global payments market on whether FinTech’s innovations promote competitiveness in the market. The study also quantitatively evaluates the competitive trends observed in the global payments market. The sampling frame consists of 504 respondents across 28 countries. The study is based on the analysis of the survey results using SPSS Statistics and Stata. The survey addressed four groups of factors influencing the competitiveness of the payment system (i.e., ‘Costs’, ‘Service Channels’, ‘Privacy and Security’, ‘Quality and Efficiency’). The respondents believe that FinTech innovations have a strong positive effect on the payment system’s competitiveness (M = 4.32). The results of the present study may be of interest to specialists and researchers who deal with the competitive dynamics of the global payments business, with payment innovations, and with convergence and transformation of the payments industry. |
topic |
competitive dynamics competitiveness financial technology (FinTech) payment innovation payment system |
url |
https://www.mdpi.com/2227-7390/9/17/2070 |
work_keys_str_mv |
AT xinyucai mathematicalinterpretationofglobalcompetitionbetweenpaymentsystems AT markomilojevic mathematicalinterpretationofglobalcompetitionbetweenpaymentsystems AT denissyromyatnikov mathematicalinterpretationofglobalcompetitionbetweenpaymentsystems AT anastasiakurilova mathematicalinterpretationofglobalcompetitionbetweenpaymentsystems AT beataslusarczyk mathematicalinterpretationofglobalcompetitionbetweenpaymentsystems |
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