We examine the relationship between national culture and a country’s Bitcoin usage. Given that Bitcoin is a high-risk currency/investment that is frequently used for illegal purposes and whose market is relatively opaque, we focus on the cultural dimension of individualism, which has been...

The market for payment cards is inherently two sided. Consumers benefit from increased merchant acceptance of payment cards and vice versa. To quantify the interdependence of consumer and merchants or network externalities, we construct and estimate a structural two-sided model of a payment...

Central banks worldwide have started researching and developing central bank digital currencies (CBDCs). In the digital economy context, concerns regarding the integrity, competition, and privacy of CBDC systems have also gradually emerged. Against this backdrop, this study aims to evaluate...

This investigation was carried out on the adoption of the e-money payment model with the application of a quantitative and qualitative approach (mixed methods). Online questionnaires, which included closed-ended questions on a Likert five-point scale and open-ended questions, were distributed...

In this paper, we examine the determinants of the choice of payment instrument for low-value day-to-day transactions. Using Japanese household data from 2007 to 2014, we find that three payment instruments, namely, cash, electronic money, and credit cards, comprise the major payment choices for...