Tut, Daniel (2020): FinTech and the COVID-19 Pandemic: Evidence from Electronic Payment Systems.
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Abstract
ArticlePDF Available FinTech and the COVID-19 Pandemic: Evidence from Electronic Payment Systems: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3660987 January 2020SSRN Electronic Journal Authors: Daniel Tut York University
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Abstract and Figures This paper investigates the effects of the Covid-19 pandemic on financial institutions and consumers’ adoption of FinTech in payments. We find [1] The covid-19 pandemic has accelerated the adoption of FinTech platforms in payments. We document an approximate increase of 54% in mobile banking transactions, an increase of 19.56% in Mobile agents and an increase of 14.56% in Mobile banking accounts [2] The use of all electronic payment cards has significantly declined during the pandemic. [3] The pandemic has magnified interbank contagion and liquidity risks and has reduced both domestic and international electronic fund transfers via both the Real-Gross Settlement system (RTGS) and via Clearing house (ACH).Overall, our results shows that FinTech not only alleviated the negative impact of theCovid-19 pandemic during Q1 but that the pandemic has also accelerated consumers’ adoption of FinTech platforms and digital onboarding specially in Q3 and Q4.
Item Type: | MPRA Paper |
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Original Title: | FinTech and the COVID-19 Pandemic: Evidence from Electronic Payment Systems |
English Title: | FinTech and the COVID-19 Pandemic: Evidence from Electronic Payment Systems |
Language: | English |
Keywords: | Covid-19, Coronavirus, Fintech, Mobile Payment, Central Banks, Financial Intermediaries, Financial Technologies, Banks, Interbank transfers, Diaspora Remittances, Settlement and Liquidity risks, clearing houses, financial stability, Pandemic, M-PESA, Digital Banking. |
Subjects: | E - Macroeconomics and Monetary Economics > E3 - Prices, Business Fluctuations, and Cycles > E32 - Business Fluctuations ; Cycles E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E52 - Monetary Policy E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E58 - Central Banks and Their Policies G - Financial Economics > G2 - Financial Institutions and Services > G21 - Banks ; Depository Institutions ; Micro Finance Institutions ; Mortgages G - Financial Economics > G2 - Financial Institutions and Services > G28 - Government Policy and Regulation G - Financial Economics > G3 - Corporate Finance and Governance > G32 - Financing Policy ; Financial Risk and Risk Management ; Capital and Ownership Structure ; Value of Firms ; Goodwill O - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development > O16 - Financial Markets ; Saving and Capital Investment ; Corporate Finance and Governance O - Economic Development, Innovation, Technological Change, and Growth > O3 - Innovation ; Research and Development ; Technological Change ; Intellectual Property Rights > O31 - Innovation and Invention: Processes and Incentives O - Economic Development, Innovation, Technological Change, and Growth > O3 - Innovation ; Research and Development ; Technological Change ; Intellectual Property Rights > O32 - Management of Technological Innovation and R&D O - Economic Development, Innovation, Technological Change, and Growth > O3 - Innovation ; Research and Development ; Technological Change ; Intellectual Property Rights > O33 - Technological Change: Choices and Consequences ; Diffusion Processes O - Economic Development, Innovation, Technological Change, and Growth > O3 - Innovation ; Research and Development ; Technological Change ; Intellectual Property Rights > O38 - Government Policy O - Economic Development, Innovation, Technological Change, and Growth > O5 - Economywide Country Studies > O55 - Africa |
Item ID: | 107077 |
Depositing User: | Dr. Daniel Tut |
Date Deposited: | 10 Apr 2021 04:26 |
Last Modified: | 25 Dec 2024 18:45 |
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URI: | https://mpra.ub.uni-muenchen.de/id/eprint/107077 |
Available Versions of this Item
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FinTech and the COVID-19 Pandemic: Evidence from Electronic Payment Systems. (deposited 14 Aug 2020 13:55)
- FinTech and the COVID-19 Pandemic: Evidence from Electronic Payment Systems. (deposited 10 Apr 2021 04:26) [Currently Displayed]
- FinTech and the COVID-19 Pandemic: Evidence from Electronic Payment Systems. (deposited 10 Apr 2021 04:25)