The dawn of a mobile payment scheme: The case of Movii
Authors
León, Carlos
Editor
Publication date
2021-04-07
Document language
eng
Publisher
Metrics
downloads: 0
abstract_views: 0
Journal Title
Journal ISSN
Volume Title
Abstract
Mobile wallets replicate physical wallets on a mobile device, in which users can store different
payment instruments (e.g., cards, transfers) to make mobile payments. As the mobile wallet is
adopted, a mobile payment scheme emerges, with its users as elements in a network of transfers.
In this article, I study the mobile payment scheme of Movii— the first fintech firm in Colombia
operating under a financial non-banking license for electronic deposits and payments. Based on a
unique dataset of bilateral transfers between Movii’s mobile wallet users, I build, visualize and
analyze Movii’s network, daily from November 18, 2017, to November 25, 2020. Besides the
anticipated increase in the number of users and the value of transfers, the visual and quantitative
complexity of the network of transfers increases over time. This increase in complexity is likely
to be linked to the adoption of Movii’s mobile wallet, which results in users finding new ways to
use mobile payments beyond person-to-person transfers, including person-to-business and
business-to-business. Also, results suggest the Covid-19 pandemic accelerated the evolution of
Movii’s mobile payments scheme.
Description
Códigos JEL
L14 - Transactional Relationships; Contracts and Reputation; Networks, D85 - Network Formation and Analysis: Theory, E42 - Monetary Systems; Standards; Regimes; Government and the Monetary System; Payment Systems
item.page.subjectjelspa
Keywords
Payments, Mobile, Networks, Fintech, Paytech, Complexity
