The Development and Transformation of the Bank Card Market as an Imperative for Digitalization: the Case of Central and Eastern European Countries

• Authors: Olena Sobolieva-Tereshchenko , Olesya Moyseyenko , Valeriia Zharnikova

Title variants

PL

Rozwój i transformacja rynku kart bankowych jako imperatyw cyfryzacji na przykładzie krajów Europy Środkowo‑Wschodniej

Abstracts

PL

Celem niniejszego opracowania jest określenie trendów rozwojowych głównych determinant rynku kart bankowych w ośmiu krajach Europy Środkowo-Wschodniej w okresie 2010–2019. Kontynuując badanie przeprowadzone w 2018 r. przeprowadzono dalszą analizę porównawczą zaproponowanego wcześniej „Indeksu Rynku Kart Bankowych” opartego na systemie powiązanych ze sobą wskaźników bankowych kart płatniczych, bankomatów i terminali POS. Przedstawiono przegląd rankingów Ukrainy, Białorusi, Mołdawii, Rosji, Rumunii, Polski, Węgier i Słowacji przy użyciu międzynarodowych systemów rankingowych, takich jak „The Legatum Prosperity Index”, „Doing Business”, „The Index of Economic Freedom” i „Вank Cards Market Index”. Dalsze badania trzech międzynarodowych systemów rankingowych, a także „Вank Cards Market Index” ponownie potwierdziły podobieństwo modeli rozwoju rynku kart bankowych w Polsce i na Ukrainie. Aby zbadać wpływ cyfryzacji gospodarki i pandemii Covid–19 na rynek kart bankowych, przeprowadzono pogłębioną analizę dwóch przypadków (Polski i Ukrainy jako dwóch podobnych rynków kart bankowych) za pomocą „Digital Evolution Index”. W trakcie badań stwierdzono, że „Вank Cards Market Index” może być z powodzeniem wykorzystany do dalszych badań sektora bankowego w różnych krajach. Zauważono również trend wzrostowy płatności bezgotówkowych na rynku kart bankowych i możliwą transformację rynku pod wpływem Covid–19 oraz globalną cyfryzację gospodarki. Biorąc pod uwagę powyższy trend, dalsze badania systemu powiązanych wskaźników bankowych kart płatniczych, bankomatów i terminali POS powinny być prowadzone z wykorzystaniem „Digital Evolution Index” lub innych międzynarodowych wskaźników charakteryzujących poziom cyfryzacji gospodarki w badanych krajach.

EN

The purpose of this study is to determine the development trends of the major determinants of the bank card market in eight countries of Central and Eastern Europe in the period from 2010 to 2019. Continuing a study carried out in 2018, further comparative analysis of the “Bank Cards Market Index” proposed earlier and based on a system of interrelated indicators of bank payment cards, ATMs and POS‑terminals, was carried out. We provide an overview of the rankings of Ukraine, Belarus, Moldova, Russia, Romania, Poland, Hungary, Slovakia using international ranking systems such as “The Legatum Prosperity Index,” “Doing Business,” “The Index of Economic Freedom,” and the “Вank Cards Market Index.” Further studies of three international ranking systems, as well as the “Bank Cards Market Index,” again confirmed the similarity of the development models of the bank card market in Poland and Ukraine. To study the impact of the digitalization of economics and Covid–19 on the bank card market, a deeper analysis of two cases (Poland and Ukraine, as two similar bank card markets) was carried out using the “Digital Evolution Index.” In the course of the research, it was concluded that the “Вank Cards Market Index” can be successfully used for further research of the banking sector of different countries. Also, the growth trend of cashless payments in the bank card market and the possible transformation of the market under the influence of Covid–19, and the global digitalization of economics were noticed. Taking into account the above trend, further studies of the system of interrelated indicators of bank payment cards, ATMs, and POS terminals should be carried out using the “Digital Evolution Index” or other international indexes that characterize the level of digitalization of the economy in the researched countries.

Keywords

PL

Bank; Polska; Ukraina; karty bankowe; wskaźniki; ranking krajów; indeks; gospodarka cyfrowa; cyfryzacja

EN

bank; Poland; Ukraine; bank cards; indicators; ranking of countries; index; digital economy; digitalization

• Publisher: Uniwersytet Łódzki. Wydawnictwo Uniwersytetu Łódzkiego
• Journal: Comparative Economic Research. Central and Eastern Europe
• Year: 2021
• Volume: 24
• Issue: 4
• Pages: 45-67

Dates

published

2021

Contributors

author

Olena Sobolieva-Tereshchenko

• Ph.D., Associate Professor, Borys Grinchenko Kyiv University, Chair of Finance and Economics, Kyiv, Ukraine

• https://orcid.org/0000000210861192

author

Olesya Moyseyenko

• Ph.D. student, Kyiv National University of Trade and Economics, Kyiv, Ukraine

• https://orcid.org/0000000246986843

author

Valeriia Zharnikova

• Ph.D. Student, Kyiv National University of Trade and Economics, Kyiv, Ukraine

• https://orcid.org/0000000243355149

References

• Banca Naţională a României, Payments Statistics, http://www.bnr.ro/Payments-Statistics-5312.aspx (accessed: 18.01.2021).
• Bank of the Russia, National Payment System, http://www.cbr.ru/eng/statistics/nps/ (accessed: 18.01.2021).
• Chakravorti, B., Chaturvedi, R.S., Filipovic, Ch., Brewer, G. (2020), Digital in the time of Covid. Trust in the Digital Economy and Its Evolution Across 90 Economies as the Planet Paused for a Pandemic, https://sites.tufts.edu/digitalplanet/files/2021/03/digital-intelligence-index.pdf (accessed: 18.01.2021).
• Fedorova, A.Y., Dorozhkina, N.I., Cherkashnev, R.Y. (2016), Organization of the market of Bank cards, “Arkhivarius”, 8 (12), https://cyberleninka.ru/article/n/organization-of-the-market-of-bank-cards (accessed: 18.01.2021).
• Khetagurov, G.V. (2018), Development Trends in the Global Payment Card Market, “Journal of the Ural State University of Economics”, 19 (1), pp. 16–24, https://doi.org/10.29141/2073-1019-2018-19-1-2
• Klement, L., Lesáková, Ľ., Klementová, V., Elexa, Ľ. (2016), Innovation performance of the Slovak Republic, “Journal of Forum Scientiae Oeconomia”, 4 (3), pp. 115–126.
• Legatum Prosperity Index (2020), Prosperity rankings: Full data set, https://www.prosperity.com/about/resources (accessed: 18.01.2021).
• Miller, T., Kim, A.B., Roberts, J.M. (2019), 2019 Index of Economic Freedom, https://www.heritage.org/index/pdf/2019/book/index_2019.pdf (accessed: 18.01.2021).
• Národná Banka Slovenska, Payment systems, https://www.nbs.sk/sk/platobne-systemy (accessed: 18.01.2021).
• Narodowy Bank Polski, Payment System, http://www.nbp.pl/homen.aspx?f=/en/system_platniczy/system_cards.html (accessed: 18.01.2021).
• National Bank of Moldova, BNM Reports Generator, http://www.bnm.md/bdi/pages/reports/dsp/DSP1.xhtml (accessed: 18.01.2021).
• National Bank of Ukraine, Cashless Payments, https://bank.gov.ua/en/payments/nocash (accessed: 18.01.2021).
• National Bank of Ukraine, Statistics, https://bank.gov.ua/en/statistic (accessed: 18.01.2021).
• National Bank of Ukraine (2020), Undeniable Card Market Trends in 2020: Online Settlements and Contactless Payments, https://bank.gov.ua/en/news/all/bezzaperechni-trendi-kartkovogo-rinku-u-2020-rotsi--rozrahunki-v-interneti-ta-bezkontaktni-plateji (accessed: 18.01.2021).
• Panibratov, A., Ribberink, N., Veselova, A., Nefedov, K. (2018), Entry modes and liability of foreignness effects: evidence from Russian firms on the German market, “Journal of Organizations and Markets in Emerging Economies”, 9 (1), pp. 106–122, https://doi.org/10.15388/omee.2018.10.00006
• Ramskyi, A., Loiko, V., Sobolieva-Tereshchenko, O., Loiko, D., Zharnikova, V. (2017), Integration of Ukraine into the European banking system: cleaning, rebooting and Basel III , “Journal of Banks and Bank Systems”, 12 (4), pp. 163–174, https://doi.org/10.21511/bbs.12(4-1).2017.05
• Slovak Banking Association (2021), Štatistika vydávania a prijímania platobných kariet, https://www.sbaonline.sk/novinka/statistika-vydavania-a-prijimania-platobnych-kariet (accessed: 18.01.2021).
• Sobolieva-Tereshchenko, O. (2018), The Bank Card Market: a Comparative Analysis of Ukraine and its Neighboring Countries, “Comparative Economic Research. Central and Eastern Europe”, 21 (4), pp. 25–44, https://doi.org/10.2478/cer-2018-0025
• Statistical Data Warehouse, Payments and Settlement Systems Statistics, https://sdw.ecb.europa.eu/browse.do?node=9691545 (accessed: 18.01.2021).
• Świecka, B., Terefenko, P., Paprotny, D. (2021), Transaction factors” influence on the choice of payment by Polish consumers, “Journal of Retailing and Consumer Services”, 58, https://doi.org/10.1016/j.jretconser.2020.102264
• The Magyar Nemezeti Bank, Payment data, http://www.mnb.hu/en/statistics/statistical-data-and-information/statistical-time-series/xiv-payment-systems/payment-data (accessed: 18.01.2021).
• The National Bank of the Republic of Belarus, https://www.nbrb.by/publications/bulletin (accessed: 18.01.2021).
• Van, D.T.T., Linh, N.H. (2019), The Impacts of Financial Inclusion on Economic Development: Cases in Asian-Pacific Countries, “Comparative Economic Research. Central and Eastern Europe”, 22 (1), pp. 7–16, https://doi.org/10.2478/cer-2019-0001
• Verisk Financial, Payment Industry Trends. Europe, https://www.veriskfinancialresearch.com/reports/country-reports/europe.html (accessed: 18.01.2021).
• World Bank Group (2018), Doing Business 2018. Reforming to Create Jobs, International Bank for Reconstruction and Development/The World Bank, Washington https://www.doingbusiness.org/content/dam/doingBusiness/media/Annual-Reports/English/DB2018-Full-Report.pdf (accessed: 18.01.2021).
• World Bank Group (2019), Doing Business 2019. Training for Reform, International Bank for Reconstruction and Development/The World Bank, Washington, https://www.doingbusiness.org/content/dam/doingBusiness/media/Annual-Reports/English/DB2019-report_web-version.pdf (accessed: 18.01.2021).

Identifiers

DOI

10.18778/1508-2008.24.30

Biblioteka Nauki

2033923