Determinants of Non-Cash Payments

National Bank of Poland Working Paper No. 196

74 Pages Posted: 22 Aug 2015 Last revised: 9 Jul 2016

See all articles by Lucas Goczek

Lucas Goczek

University of Warsaw

Bartosz Witkowski

Warsaw School of Economics (SGH)

Date Written: February 9, 2015


The development of the card payment system allows for lowering the costs of money emission and circulation and thereby leads to significant economic gains. Yet relatively small amount of research has been dedicated to the analysis of the determinants of these developments. Therefore, the aim of the article is to seek cross-country determinants of retail card payments. The focus of was put on two econometric models. One was constructed using survey data for Poland, the second model was based on panel data from the EU countries in the years 2000-2012. Based on the results from the second model forecasts for the number of cards and the value of card transactions per person were compiled.

Keywords: card payments, noncash transactions, retail payments

JEL Classification: E42, E58

Suggested Citation

Goczek, Lucas and Witkowski, Bartosz, Determinants of Non-Cash Payments (February 9, 2015). National Bank of Poland Working Paper No. 196, Available at SSRN: or

Lucas Goczek (Contact Author)

University of Warsaw ( email )

Krakowskie Przedmiescie 26/28
Warszawa, Pl-00681

Bartosz Witkowski

Warsaw School of Economics (SGH) ( email )

aleja Niepodleglosci 162
PL-Warsaw, 02-554

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