Mobile Wallet and Entrepreneurial Growth

30 Pages Posted: 27 Dec 2018

See all articles by Sumit Agarwal

Sumit Agarwal

National University of Singapore

Wenlan Qian

National University of Singapore - NUS Business School

Bernard Yin Yeung

National University of Singapore - Business School

Xin Zou

Hong Kong Baptist University (HKBU)

Date Written: December 9, 2018

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 the mobile wallet usage doubled after the new technology introduction, and the improved payment convenience 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.

Keywords: mobile wallet, cashless payment, entrepreneurship, small business, sales growth, credit card, debit card, banking, fintech, digital economy

JEL Classification: D12, D14, E21, G21

Suggested Citation

Agarwal, Sumit and Qian, Wenlan and Yeung, Bernard Yin and Zou, Xin, Mobile Wallet and Entrepreneurial Growth (December 9, 2018). Available at SSRN: https://ssrn.com/abstract=3298266 or http://dx.doi.org/10.2139/ssrn.3298266

Sumit Agarwal

National University of Singapore ( email )

15 Kent Ridge Drive
Singapore, 117592
Singapore
8118 9025 (Phone)

HOME PAGE: http://www.ushakrisna.com

Wenlan Qian

National University of Singapore - NUS Business School ( email )

15 Kent Ridge Drive
Singapore 117592, 119245
Singapore
(65) 65163015 (Phone)

HOME PAGE: http://sites.google.com/site/wenlanqian/

Bernard Yin Yeung

National University of Singapore - Business School ( email )

15 Kent Ridge Drive
BIZ 1 Level 6
Singapore, 119245
Singapore
65 6516 3075 (Phone)
65 6779 1365 (Fax)

Xin Zou (Contact Author)

Hong Kong Baptist University (HKBU) ( email )

Kowloon
Hong Kong

HOME PAGE: http://sites.google.com/site/shirleyxinzou/

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