Drivers of Cashless Payments in Emerging Markets

Cashless payments are gaining popularity around the world. Countries are competing to build digital payment ecosystems in order to accelerate the adoption of cashless payments. The purpose of this study is to find out what drives cashless payments in emerging markets. The panel data regression method was used to analyse a panel data collection of nine emerging market economies. The research demonstrates the significant impact of internet use on cashless payments. The amount of cards has a detrimental impact on the outcome. Internet based payments are becoming more popular which is easy and convenient method of cashless payments.