The retail payments market is developing, and the implementation of digital payments has been one... more The retail payments market is developing, and the implementation of digital payments has been one of the trends in consumer finance worldwide. This is the first study to jointly examine the perception of digital payment methods and financial services’ role, for consumers with and without disabilities. First, based on a nationwide survey on Internet users in Poland, the authors compared the popularity of selected financial services among consumers, then the perception of characteristics of payment methods. The results revealed that consumers with disabilities use a wide range of payment services, and they are included in digital finance. Moreover, contactless payment cards are used by consumers with disabilities even more often than by consumers on average. The results suggest that the control over finances make digital payments an important empowering tool for consumers with disabilities. Finally, the paper provides recommendations for the banking sector, on strategies for offering digital financial services.
As more and more societies are transforming into cashless economies, questions about the social n... more As more and more societies are transforming into cashless economies, questions about the social nature of this transformation are arising. With this paper we present specific insights into the process of the institutionalization of cashlessness in Poland. The paper elaborates the concept that the institutional field of cashlessness emerges with the gradual expansion of interaction structure, solidification of interests, articulation of ideas and finally the creation of sanctions and norms. The paper presents the cashlessness’ institutionalization from the perspective of Small and Medium Enterprises (SMEs). To reach our objectives, we have used empirical data collected in SMEs’ sector research in Poland – 74 individual in-depth interviews with SMEs owners. The analysis is grounded in the qualitative research design and the theory of neo-institutionalism. We show that the complex impact of interlocked social interactions, financial sanctions, narrations, and norms are creating the matrix for SMEs’ decision whether to implement cashless payments into their business.
Research in International Business and Finance, 2022
Abstract Since Bitcoin price is highly volatile, forecasting its volatility is crucial for many a... more Abstract Since Bitcoin price is highly volatile, forecasting its volatility is crucial for many applications, such as risk management or hedging. We study which model is the most suitable for forecasting Bitcoin volatility. We consider several GARCH and two heterogeneous autoregressive (HAR) models and compare them. Since we utilize realized variance estimated from high frequency data as a proxy for true volatility, we can draw sharper conclusions than studies which use only daily data. We find that EGARCH and APARCH perform best among the GARCH models. HAR models based on realized variance perform better than GARCH models based on daily data. Superiority of HAR models over GARCH models is strongest for short-term volatility forecasts.
Using a survey of 5,504 respondents from 22 European countries, we examine preferences regarding ... more Using a survey of 5,504 respondents from 22 European countries, we examine preferences regarding cash and cashless payments at the point of sale (POS) during the COVID-19 crisis. Consumers favor cashless transactions when they believe that handling cash presents a higher risk of infection. Moreover, the habits they develop during periods of restrictions and lockdowns appear to further diminish their appetite for transacting in cash. Not only do these factors affect current choice of payment method, but also influence declared future intentions to move away from cash after the pandemic is over.
DOAJ (DOAJ: Directory of Open Access Journals), May 1, 2018
Celem artykulu jest podsumowanie aktualnego stanu wiedzy na ten temat kosztow instrumentow platni... more Celem artykulu jest podsumowanie aktualnego stanu wiedzy na ten temat kosztow instrumentow platniczych w gospodarkach panstw Unii Europejskiej. Zaprezentowano w nim podstawowe defini-cje stosowane w rachunku kosztow platności i ujednoliconą metodyke badania, zrealizowanego pod kierunkiem Europejskiego Banku Centralnego. Wyniki badan wykazaly, ze mimo duzego udzialu w kosztach spolecznych ogolem, gotowka ma najnizsze jednostkowe koszty realizacji platności. Jed-nak wraz ze wzrostem liczby transakcji elektronicznych, spadają ich koszty spoleczne, a w krajach o duzym wykorzystaniu kart debetowych są one najtanszą metodą platności. Sugeruje to zasadnośc promowania rozwoju obrotu bezgotowkowego.
Sukces technologii zbli eniowej w bankowo ci na przyk adzie rozwoju polskiego rynku kart p atnicz... more Sukces technologii zbli eniowej w bankowo ci na przyk adzie rozwoju polskiego rynku kart p atniczych Kody JEL: E42, G21, O33 S owa kluczowe: karty zbli eniowe, system p atniczy, innowacje bankowe Streszczenie. Technologia zbli eniowa w relatywnie krótkim czasie sta a si w Polsce standardem obs ugi p atno ci detalicznych. Celem artyku u jest wskazanie czynników sukcesu rozwoju p atno ci zbli eniowych w Polsce. Ze wzgl du na sieciowy charakter rynku us ug p atniczych i mechanizmy funkcjonowania systemów kart p atniczych, wyst puj bardzo du e bariery dla zmian technologicznych w tych systemach. Sukces rozwi zania zbli eniowego osi gni to dzi ki strategii organizacji p atniczych, polegaj cej na jednoczesnym wsparciu rozwoju sieci akceptacji i wydawnictwa kart. W rezultacie polski sektor bankowy skorzysta z renty zapó nienia w zakresie migracji do standardu EMV, staj c si liderem tej innowacji w Europie. Wprowadzenie Wspó czesny sektor finansowy jest miejscem testowania wielu wysoko zaawansowanych technologicznie rozwi za p atniczych, z których wi kszo ci nie udaje si jednak zdoby powa niejszego udzia u w rynku. W tym kontek cie interesuj ce wydaje si przedstawienie studium przypadku wprowadzania innowacji do systemów kart p atniczych-na rynku polskim, co by o jednym z najwi kszych wiatowych sukcesów. Celem artyku u jest wskazanie czynników sukcesu rozwoju p atno ci zbli eniowych w Polsce. W pracy wykorzystano wyniki cyklu w asnych bada ankietowych polskiego sektora bankowego oraz dane statystyczne Narodowego Banku Polskiego (NBP). Ana
The retail payments market is developing, and the implementation of digital payments has been one... more The retail payments market is developing, and the implementation of digital payments has been one of the trends in consumer finance worldwide. This is the first study to jointly examine the perception of digital payment methods and financial services’ role, for consumers with and without disabilities. First, based on a nationwide survey on Internet users in Poland, the authors compared the popularity of selected financial services among consumers, then the perception of characteristics of payment methods. The results revealed that consumers with disabilities use a wide range of payment services, and they are included in digital finance. Moreover, contactless payment cards are used by consumers with disabilities even more often than by consumers on average. The results suggest that the control over finances make digital payments an important empowering tool for consumers with disabilities. Finally, the paper provides recommendations for the banking sector, on strategies for offering digital financial services.
As more and more societies are transforming into cashless economies, questions about the social n... more As more and more societies are transforming into cashless economies, questions about the social nature of this transformation are arising. With this paper we present specific insights into the process of the institutionalization of cashlessness in Poland. The paper elaborates the concept that the institutional field of cashlessness emerges with the gradual expansion of interaction structure, solidification of interests, articulation of ideas and finally the creation of sanctions and norms. The paper presents the cashlessness’ institutionalization from the perspective of Small and Medium Enterprises (SMEs). To reach our objectives, we have used empirical data collected in SMEs’ sector research in Poland – 74 individual in-depth interviews with SMEs owners. The analysis is grounded in the qualitative research design and the theory of neo-institutionalism. We show that the complex impact of interlocked social interactions, financial sanctions, narrations, and norms are creating the matrix for SMEs’ decision whether to implement cashless payments into their business.
Research in International Business and Finance, 2022
Abstract Since Bitcoin price is highly volatile, forecasting its volatility is crucial for many a... more Abstract Since Bitcoin price is highly volatile, forecasting its volatility is crucial for many applications, such as risk management or hedging. We study which model is the most suitable for forecasting Bitcoin volatility. We consider several GARCH and two heterogeneous autoregressive (HAR) models and compare them. Since we utilize realized variance estimated from high frequency data as a proxy for true volatility, we can draw sharper conclusions than studies which use only daily data. We find that EGARCH and APARCH perform best among the GARCH models. HAR models based on realized variance perform better than GARCH models based on daily data. Superiority of HAR models over GARCH models is strongest for short-term volatility forecasts.
Using a survey of 5,504 respondents from 22 European countries, we examine preferences regarding ... more Using a survey of 5,504 respondents from 22 European countries, we examine preferences regarding cash and cashless payments at the point of sale (POS) during the COVID-19 crisis. Consumers favor cashless transactions when they believe that handling cash presents a higher risk of infection. Moreover, the habits they develop during periods of restrictions and lockdowns appear to further diminish their appetite for transacting in cash. Not only do these factors affect current choice of payment method, but also influence declared future intentions to move away from cash after the pandemic is over.
DOAJ (DOAJ: Directory of Open Access Journals), May 1, 2018
Celem artykulu jest podsumowanie aktualnego stanu wiedzy na ten temat kosztow instrumentow platni... more Celem artykulu jest podsumowanie aktualnego stanu wiedzy na ten temat kosztow instrumentow platniczych w gospodarkach panstw Unii Europejskiej. Zaprezentowano w nim podstawowe defini-cje stosowane w rachunku kosztow platności i ujednoliconą metodyke badania, zrealizowanego pod kierunkiem Europejskiego Banku Centralnego. Wyniki badan wykazaly, ze mimo duzego udzialu w kosztach spolecznych ogolem, gotowka ma najnizsze jednostkowe koszty realizacji platności. Jed-nak wraz ze wzrostem liczby transakcji elektronicznych, spadają ich koszty spoleczne, a w krajach o duzym wykorzystaniu kart debetowych są one najtanszą metodą platności. Sugeruje to zasadnośc promowania rozwoju obrotu bezgotowkowego.
Sukces technologii zbli eniowej w bankowo ci na przyk adzie rozwoju polskiego rynku kart p atnicz... more Sukces technologii zbli eniowej w bankowo ci na przyk adzie rozwoju polskiego rynku kart p atniczych Kody JEL: E42, G21, O33 S owa kluczowe: karty zbli eniowe, system p atniczy, innowacje bankowe Streszczenie. Technologia zbli eniowa w relatywnie krótkim czasie sta a si w Polsce standardem obs ugi p atno ci detalicznych. Celem artyku u jest wskazanie czynników sukcesu rozwoju p atno ci zbli eniowych w Polsce. Ze wzgl du na sieciowy charakter rynku us ug p atniczych i mechanizmy funkcjonowania systemów kart p atniczych, wyst puj bardzo du e bariery dla zmian technologicznych w tych systemach. Sukces rozwi zania zbli eniowego osi gni to dzi ki strategii organizacji p atniczych, polegaj cej na jednoczesnym wsparciu rozwoju sieci akceptacji i wydawnictwa kart. W rezultacie polski sektor bankowy skorzysta z renty zapó nienia w zakresie migracji do standardu EMV, staj c si liderem tej innowacji w Europie. Wprowadzenie Wspó czesny sektor finansowy jest miejscem testowania wielu wysoko zaawansowanych technologicznie rozwi za p atniczych, z których wi kszo ci nie udaje si jednak zdoby powa niejszego udzia u w rynku. W tym kontek cie interesuj ce wydaje si przedstawienie studium przypadku wprowadzania innowacji do systemów kart p atniczych-na rynku polskim, co by o jednym z najwi kszych wiatowych sukcesów. Celem artyku u jest wskazanie czynników sukcesu rozwoju p atno ci zbli eniowych w Polsce. W pracy wykorzystano wyniki cyklu w asnych bada ankietowych polskiego sektora bankowego oraz dane statystyczne Narodowego Banku Polskiego (NBP). Ana
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