IDEAS home Printed from https://ideas.repec.org/a/eee/lajcba/v2y2021i4s2666143821000223.html
   My bibliography  Save this article

The adoption of a mobile payment system: the user perspective

Author

Listed:
  • León, Carlos

Abstract

Mobile wallets replicate physical wallets on a mobile device, in which users can store different payment instruments to make mobile payments. As the mobile wallet is adopted, a mobile payment system emerges. I study the mobile payment system of Movii—the first fintech firm in Colombia operating under a financial non-banking license for electronic deposits and payments. Based on a unique dataset of daily bilateral transfers between Movii's mobile wallet users, I build, visualize, and analyze Movii's network. Besides the anticipated increase in the number of users and the value of transfers, the visual and quantitative complexity of the network of transfers increases over time. This increase in complexity is likely to be linked to the adoption of Movii's mobile wallet. The behavior of users in the network of transfers shows that they find new ways to use mobile payments beyond person-to-person transfers, including person-to-business and business-to-business.

Suggested Citation

  • León, Carlos, 2021. "The adoption of a mobile payment system: the user perspective," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 2(4).
    • Handle: RePEc:eee:lajcba:v:2:y:2021:i:4:s2666143821000223
    DOI: 10.1016/j.latcb.2021.100042
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S2666143821000223
    Download Restriction: Gold Open Access
    File URL: https://libkey.io/10.1016/j.latcb.2021.100042?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Wen, Tao & Jiang, Wen, 2019. "Measuring the complexity of complex network by Tsallis entropy," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 526(C).
    2. Flood, Mark D. & Kenett, Dror Y. & Lumsdaine, Robin L. & Simon, Jonathan K., 2020. "The Complexity of Bank Holding Companies: A Topological Approach," Journal of Banking & Finance, Elsevier, vol. 118(C).
    3. Polasik, Michał & Huterska, Agnieszka & Iftikhar, Rehan & Mikula, Štěpán, 2020. "The impact of Payment Services Directive 2 on the PayTech sector development in Europe," Journal of Economic Behavior & Organization, Elsevier, vol. 178(C), pages 385-401.
    4. Kaur, Puneet & Dhir, Amandeep & Bodhi, Rahul & Singh, Tripti & Almotairi, Mohammad, 2020. "Why do people use and recommend m-wallets?," Journal of Retailing and Consumer Services, Elsevier, vol. 56(C).
    5. Mikołaj Morzy & Tomasz Kajdanowicz & Przemysław Kazienko, 2017. "On Measuring the Complexity of Networks: Kolmogorov Complexity versus Entropy," Complexity, Hindawi, vol. 2017, pages 1-12, November.
    6. Ben Fung & Miguel Molico & Gerald Stuber, 2014. "Electronic Money and Payments: Recent Developments and Issues," Discussion Papers 14-2, Bank of Canada.
    7. Solomon, Elinor Harris, 1999. "What should regulators do about consolidation and electronic money?," Journal of Banking & Finance, Elsevier, vol. 23(2-4), pages 645-653, February.
    8. McAndrews, James J., 2020. "The case for cash," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 1(1).
    9. Singh, Supriya, 1999. "Electronic money: understanding its use to increase the effectiveness of policy," Telecommunications Policy, Elsevier, vol. 23(10-11), pages 753-773, November.
    10. Jon Frost, 2020. "The economic forces driving FinTech adoption across countries," Working Papers 663, DNB.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. León, Carlos, 2021. "The dawn of a mobile payment scheme: The case of Movii," Working papers 78, Red Investigadores de Economía.
    2. Naili Farida & Elia Ardyan & Nuryakin, 2016. "Gender Differences in Interest in Using Electronic Money: An Application of Theory Planned Behavior," International Review of Management and Marketing, Econjournals, vol. 6(4), pages 898-903.
    3. Naili Farida & Elia Ardyan & Nuryakin, 2016. "Gender Differences in Interest in Using Electronic Money: An Application of Theory Planned Behavior," International Review of Management and Marketing, Econjournals, vol. 6(4), pages 898-903.
    4. Janet Hua Jiang & Enchuan Shao, 2014. "Understanding the Cash Demand Puzzle," Staff Working Papers 14-22, Bank of Canada.
    5. Christie Smith & Aaron Kumar, 2018. "Crypto‐Currencies – An Introduction To Not‐So‐Funny Moneys," Journal of Economic Surveys, Wiley Blackwell, vol. 32(5), pages 1531-1559, December.
    6. Jebarajakirthy, Charles & Shankar, Amit, 2021. "Impact of online convenience on mobile banking adoption intention: A moderated mediation approach," Journal of Retailing and Consumer Services, Elsevier, vol. 58(C).
    7. Correa, Ricardo & Goldberg, Linda S., 2022. "Bank complexity, governance, and risk," Journal of Banking & Finance, Elsevier, vol. 134(C).
    8. Imola Drigă & Codruța Dura & Loredana Cristea, 2016. "Non-Cash Payments - Trends and Prospects," Annals of the University of Petrosani, Economics, University of Petrosani, Romania, vol. 16(2), pages 13-20.
    9. Pennathur, Anita K., 2001. ""Clicks and bricks":: e-Risk Management for banks in the age of the Internet," Journal of Banking & Finance, Elsevier, vol. 25(11), pages 2103-2123, November.
    10. Ben Fung & Hanna Halaburda, 2016. "Central Bank Digital Currencies: A Framework for Assessing Why and How," Discussion Papers 16-22, Bank of Canada.
    11. Janet Hua Jiang & Enchuan Shao, 2020. "The Cash Paradox," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 36, pages 177-197, April.
    12. Igor Khanin & Volodimir Bilozubenko & Yevhen Sopin, 2022. "Improving The Level Of Economic Effectiveness Of Electronic Payment Services In A Global Digital Economy," Baltic Journal of Economic Studies, Publishing house "Baltija Publishing", vol. 8(1).
    13. Talwar, Manish & Talwar, Shalini & Kaur, Puneet & Tripathy, Naliniprava & Dhir, Amandeep, 2021. "Has financial attitude impacted the trading activity of retail investors during the COVID-19 pandemic?," Journal of Retailing and Consumer Services, Elsevier, vol. 58(C).
    14. Warren E. Weber, 2014. "The Efficiency of Private E-Money-Like Systems: The U.S. Experience with State Bank Notes," Staff Working Papers 14-15, Bank of Canada.
    15. Girang Permata Gusti, 2020. "Is There Any Impact Of Electronic Money To Increase Knowledge Of Financial Literacy?: In The Pandemic Situation Of Covid-19 In Pontianak City," Malaysian E Commerce Journal (MECJ), Zibeline International Publishing, vol. 4(2), pages 48-53, August.
    16. Dey, Bikash Koli & Sarkar, Mitali & Chaudhuri, Kripasindhu & Sarkar, Biswajit, 2023. "Do you think that the home delivery is good for retailing?," Journal of Retailing and Consumer Services, Elsevier, vol. 72(C).
    17. Supriya Singh, 2000. "Electronic Commerce and the Sociology of Money," Sociological Research Online, , vol. 4(4), pages 67-75, February.
    18. Walter Engert & Ben Fung, 2017. "Central Bank Digital Currency: Motivations and Implications," Discussion Papers 17-16, Bank of Canada.
    19. Xin Liao & Dongming Wu & Qianqian Zhang & Ge Han, 2021. "How to Improve Users’ Loyalty to Smart Health Devices? The Perspective of Compatibility," Sustainability, MDPI, vol. 13(19), pages 1-17, September.
    20. Alan Munodei & Athenia Bongani Sibindi, 2023. "Fintech Innovation in Social Service Provision: A Bibliometric Review," Social Sciences, MDPI, vol. 12(1), pages 1-22, January.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:lajcba:v:2:y:2021:i:4:s2666143821000223. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: https://www.journals.elsevier.com/latin-american-journal-of-central-banking .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.