Effects of institutional environment and technology development on payment choice

    Francisco J. Callado-Muñoz Affiliation
    ; Jana Hromcová Affiliation
    ; Natalia Utrero-González Affiliation


The purpose of this paper is to analyze the combination of institutional factors and tech­nology advances as determinants for the choice of payment instruments. The theoretical set up suggests that countries that enter into a new institutional environment adopt the attitudes of the accepting group towards the payment choices as a consequence of institutional pressure and tech­nology development. We apply the results of the model to the European Union enlargement process of 2004. Our findings confirm the relevance of both institutional environment and technology de­velopment in retail payment choice decisions particular to Central and Eastern European Countries.

First published online 2 November 2015

Keyword : technology, institutions, European integration, payment

How to Cite
Callado-Muñoz, F. J., Hromcová, J., & Utrero-González, N. (2018). Effects of institutional environment and technology development on payment choice. Technological and Economic Development of Economy, 24(1), 81–107.
Published in Issue
Jan 17, 2018
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