The Impact of Global Economy: Mobile Wallet and Entrepreneurial Growth

Sumit Agarwal; Wenlan Qian; Bernard Y. Yeung; Xin Zou

doi:10.1257/pandp.20191010

The Impact of Global Economy: Mobile Wallet and Entrepreneurial Growth

Sumit Agarwal, Wenlan Qian, Bernard Y. Yeung, Xin Zou

Research output: Contribution to journal › Journal article

Abstract

Using mobile wallet and card transaction data from a leading Singapore bank, this paper studies the effect of a mobile wallet payment technology introduction in 2017 on business growth. We find that mobile wallet usage doubled after the new technology introduction, and the improved payment efficiency generated a significant spillover effect. Small merchants experienced a monthly increase in debit and credit card sales amount (count) of 3.5 percent (3.4 percent) compared to large merchants. The payment technology promoted sales growth primarily for new businesses by facilitating customer acquisition.

Original language	English
Pages (from-to)	48-53
Number of pages	6
Journal	AEA Papers and Proceedings
Volume	109
DOIs	https://doi.org/10.1257/pandp.20191010
Publication status	Published - May 2019

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10.1257/pandp.20191010

Cite this

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title = "The Impact of Global Economy: Mobile Wallet and Entrepreneurial Growth",

abstract = "Using mobile wallet and card transaction data from a leading Singapore bank, this paper studies the effect of a mobile wallet payment technology introduction in 2017 on business growth. We find that mobile wallet usage doubled after the new technology introduction, and the improved payment efficiency generated a significant spillover effect. Small merchants experienced a monthly increase in debit and credit card sales amount (count) of 3.5 percent (3.4 percent) compared to large merchants. The payment technology promoted sales growth primarily for new businesses by facilitating customer acquisition.",

author = "Sumit Agarwal and Wenlan Qian and Yeung, {Bernard Y.} and Xin Zou",

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N2 - Using mobile wallet and card transaction data from a leading Singapore bank, this paper studies the effect of a mobile wallet payment technology introduction in 2017 on business growth. We find that mobile wallet usage doubled after the new technology introduction, and the improved payment efficiency generated a significant spillover effect. Small merchants experienced a monthly increase in debit and credit card sales amount (count) of 3.5 percent (3.4 percent) compared to large merchants. The payment technology promoted sales growth primarily for new businesses by facilitating customer acquisition.

AB - Using mobile wallet and card transaction data from a leading Singapore bank, this paper studies the effect of a mobile wallet payment technology introduction in 2017 on business growth. We find that mobile wallet usage doubled after the new technology introduction, and the improved payment efficiency generated a significant spillover effect. Small merchants experienced a monthly increase in debit and credit card sales amount (count) of 3.5 percent (3.4 percent) compared to large merchants. The payment technology promoted sales growth primarily for new businesses by facilitating customer acquisition.

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