The impact of Payment Services Directive 2 on the PayTech sector development in Europe
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F20%3A00116212" target="_blank" >RIV/00216224:14560/20:00116212 - isvavai.cz</a>
Result on the web
<a href="https://www.sciencedirect.com/science/article/pii/S0167268120302328?utm_campaign=STMJ_1563183421_AUTH_SERV_OTR&utm_medium=email&utm_acid=80928837&SIS_ID=&dgcid=STMJ_1563183421_AUTH_SERV_OTR&CMX_ID=&utm_in=DM131680&utm_source=AC_" target="_blank" >https://www.sciencedirect.com/science/article/pii/S0167268120302328?utm_campaign=STMJ_1563183421_AUTH_SERV_OTR&utm_medium=email&utm_acid=80928837&SIS_ID=&dgcid=STMJ_1563183421_AUTH_SERV_OTR&CMX_ID=&utm_in=DM131680&utm_source=AC_</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1016/j.jebo.2020.07.010" target="_blank" >10.1016/j.jebo.2020.07.010</a>
Alternative languages
Result language
angličtina
Original language name
The impact of Payment Services Directive 2 on the PayTech sector development in Europe
Original language description
The implementation of Payment Services Directive 2 (PSD2) has radically changed the regulatory environment for providing payment services in the European Economic Area. The main objective of the study is to determine the impact of PSD2 on the number of newly established PayTech companies. The second objective is to explain the factors driving the distribution of PSD2-licensed entities across the European Union countries. The difference-in-difference method and the Poisson regression model served our empirical analysis. The results show that the adoption of PSD2 in November 2015 caused a rapid but temporary surge in PayTech start-ups in Europe. After national transpositions of the directive, the number of new entrants fell in 2018; however, it remained at a higher level than before the adoption of PSD2, which indicates its positive impact. The analysis has proved that market potential, the characteristics of payment systems, including the popularity of payment cards, and the public environment for FinTech start-ups provided by the authorities significantly affected the number of PSD2 licences issued. The introduction of the PSD2 has made the size of the domestic market play a smaller role, as PayTechs can operate on a pan-European level also while based in a smaller country. The importance of an open business environment has increased and offering regulatory sandboxes has proven to effectively support the development of the PayTech sector.
Czech name
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Czech description
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Classification
Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
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OECD FORD branch
50202 - Applied Economics, Econometrics
Result continuities
Project
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Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace
Others
Publication year
2020
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
Journal of Economic Behavior & Organization
ISSN
0167-2681
e-ISSN
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Volume of the periodical
178
Issue of the periodical within the volume
October
Country of publishing house
NL - THE KINGDOM OF THE NETHERLANDS
Number of pages
17
Pages from-to
385-401
UT code for WoS article
000579859100018
EID of the result in the Scopus database
2-s2.0-85089414178