Record Details

PAYMENT INNOVATIONS IN POLAND: THE ROLE OF PAYMENT SERVICES IN THE STRATEGIES OF COMMERCIAL BANKS

Ekonomia i Prawo. Economics and Law

View Archive Info
 
 
Field Value
 
Authentication Code dc
 
Title Statement PAYMENT INNOVATIONS IN POLAND: THE ROLE OF PAYMENT SERVICES IN THE STRATEGIES OF COMMERCIAL BANKS
 
Added Entry - Uncontrolled Name Polasik, Michał; Nicolaus Copernicus University
Piotrowski, Dariusz; Nicolaus Copernicus University
The article was funded by The Warsaw Institute of Banking and ALTERUM Grant No. WIB/2014/01.
 
Uncontrolled Index Term payment innovation; bank strategy; payment services; FinTech; payment card
E42; G21; L21; O31
 
Summary, etc. <p class="Textofsummary">This paper examines the significance of innovations in the area of payment services for strategies implemented by commercial banks in Poland. We propose a definition of payment innovations and present the evolution of their introduction in the Polish market, indicating the impact of legal regulations and the critical character of the new FinTech phenomenon. The analysis that we conducted was based on the results of a survey which obtained responses from 24 commercial banks representing almost the entire Polish retail banking sector based on the number of personal accounts maintained. The study helped to determine the main elements of the strategies implemented by banks in Poland. It also revealed the methods for competing in the area of payment services utilized by the banks, with innovative services as one of the leading elements. The results of the study indicated that there was a significant differentiation of applied strategies depending on a bank’s size. In the case of larger banks, the main motivation for introducing payment innovations was characteristic of an offensive strategy, and for smaller banks — more often a defensive one. We also proposed a theoretical model for using the specific nature of payment innovations to build customer relationships and to apply cross-selling.</p>
 
Publication, Distribution, Etc. Uniwersytet Mikołaja Kopernika w Toruniu
2016-03-31 00:00:00
 
Electronic Location and Access application/pdf
http://www.apcz.pl/czasopisma/index.php/EiP/article/view/EiP.2016.006
 
Data Source Entry Ekonomia i Prawo. Economics and Law; Vol 15, No 1 (2016)
 
Language Note en
 
Terms Governing Use and Reproduction Note Copyright (c) 2016 Ekonomia i Prawo. Economics and Law