Technology revolution is enhanced in everywhere of the world. It is more power based and essential aspects in each and every sector of an industry. Technologies are more adoptable and favorable to the customers. Technologies in the banking sectors are developed at the peak. Over the years, banks...

This paper develops a dynamic model of technology adoption featuring strategic complementarities: the benefits of usage increase with the number of adopters. We study the diffusion of new means of payments, where such complementarities are pervasive. We show that complementarities give rise to...