Banks and Modular Structure of Payment Systems: a Business Management Perspective of Studies (Banche e struttura modulare dei sistemi di pagamento: una prospettiva di analisi economico-aziendale)
Rivista Italiana di Ragioneria e di Economia Aziendale (Rirea), vol. 119, n. 5-6-7-8, 2019, pp. 188-199.
Posted: 28 Oct 2019
Date Written: May 15, 2019
This paper adopts a business management perspective of studies to examine the distinctive factors of the adoption and diffusion of technological innovation in the economics of payments systems. Different theoretical and empirical perspectives analyse the process of adoption and diffusion of innovations in the banking industry. These different perspectives point out the complexity of the issue and the many implications on the shaping of the boundaries of a payment system. Although the existence of substantial research on payment systems and financial innovation in the literature, none has directly focused on the modularity properties of payment systems and the subsequent processes of network integration, adoption and diffusion of innovations. It leaves a gap that the paper aims to overcome.
Keywords: payment system, banking, modularity, innovation, finance, regulation, money.
JEL Classification: G01, G20, G21, G32, M10, M20, M21.
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