1. Introduction The payment market is an example of a two-sided market where technological and business platforms compete (Rochet and Tirole, 2003; Milne, 2005; Chakravorti and Roson, 2006), so the platforms have to be accepted by both customers and merchants. A strong influence of network effects and economies of scale can be observed on this market (Van Hove, 1999; Gowrisankaran and Stavins, 2004; Bolt and Humphrey, 2007; Scholnick et al., 2008). The
growing significance of e-commerce all over the world led to that it has become a subject of
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many studies (e.g. Eastin, 2002; Min and Galle, 2003; Koyuncu and Bhattacharya, 2004; Liu et al., 2008; Schrödera and Zahariab, 2008). However, most of these studies focus on the demand side of the market and take into account various factors influencing the preferences and choices of individual customers (examples concerning payment choice studies are following: Hayashi and Klee, 2003; Zhang and Li, 2006; Borzekowski and Kiser, 2008; Bolt et al., 2009; Hyytinen and Takalo; 2009; von Kalckreut论文网http://www.youerw.com/ h et al., 2009). Factors affecting the decisions of merchants have not been studied thoroughly, probably due to that they are more difficult to analyse. It should be remarked that the availability of payment instruments accepted on the Internet for customers is an extremely important, but simultaneously frequently underestimated, factor influencing the development of e-commerce. In a situation where the basic instruments are available to a limited degree, an example of which is the
availability of credit cards in Poland1, on-line shops managers’ decisions concerning the
methods of payment become more and more important.
Just as payment instruments influence the expansion of online shopping, e-commerce is a vital stimulus to the development of payment services (Evans and Schmalensee, 2008). Analyses of innovations conducted in the field of payment services over the last 20 years have clearly shown that on-line payment systems have provided more solutions than those used in local Points-of-Sale (OECD, 2006; Heng, 2007; Chande, 2008). On the one hand this results from highly varied payment needs of Internet users, but on the other hand, it stems from relatively low costs of online payment systems, owing to which niche solutions can function (Heng, 2007). Low costs needed to introduce online payments into the market result from the fact that these services do not require the development of a dedicated nation-wide network of acceptance in local Points-of-Sale (Levitin, 2007) as they use the already existing and universal infrastructure of the Internet. The abundance of online payment methods compel Internet shops to select only those that will be accepted. Results of these decisions strongly affect the development of the whole e-commerce market.
This study seeks to identify the drivers underlying the decision of online shop managers to accept particular payment methods. The empirical analysis presented here is based on a sample of online shop managers and employs an extensive set of explanatory variables. The logit models were constructed to explain the reasons for accepting or rejecting the most important seven payment methods by an online shop. The novelty of our approach result from comprehensive analysis, covering very w本文来自优.文~论^文·网原文请找腾讯3249.114 ide range of payment methods available2456