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You can’t get there from here: The role of the installed base in payment system adoption
Journal of Payments Strategy & Systems,
4
(1),
6-16
(2010)
Abstract
The use of payment instruments varies across countries. These differences persist even after the arrival of new global payment technologies. Countries often implement these global technologies in different ways. The role of the installed base of prior payment systems is explored as an explanation. Because new payment technologies are subject to strong network effects, compatibility with existing systems greatly increases the attractiveness of new payment technologies.
Keywords: payment instruments; installed base; country differences; technology succession
The full article is available to subscribers to the journal.
Author's Biography
Gottfried Leibbrandt is a former CEO of Swift, the cross-border payments network. He is currently on the board of CLS, as well as the advisory board of yes.com. He is the co-author of the book ‘The Payoff: How Changing the Way We Pay Changes Everything’. He also serves as senior adviser to McKinsey & Co, where he was a partner before joining Swift.
