The move towards a digital payment market: a cross-country analysis of the European Union

Sammanfattning: The payment landscape is evolving rapidly and changes in technology allows for new payment solutions to arise. There are several factors that have an impact on the digital payment landscape. The focus of this thesis has been to analyze factors that seem to be related to the amount of digital payments in a country within the European Union and to test if the findings are consistent with previous research. Data from Eurostat and European Central Bank has been used. It consists of data from 28 member countries of the EU over a time period of four years, 2014-2017. The data has been analyzed using fixed effects regression in order to control for time fixed effect and country fixed effect, where the dependent variable is the amount digital payments per million inhabitants. Five of the variables are found to be significant in the data analysis, thus leading to the conclusion that they are related to the amount of digital payments in a country within the EU. These findings are also consistent with previous research.