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Events

Home Events
On the Rise of Payment Firms
13Apr
Finance

On the Rise of Payment Firms

13 Apr 2022 | 4:30 p.m. – 6:00 p.m.
Zoom
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Speaker: 

Prof. Tobias Berg
Professor of Finance
Frankfurt School of Finance & Management

 

Abstract: 

Payment firms have experienced an exceptional growth over the past decade, with payment firms’ market capitalization now exceeding the combined market capitalization of all banks in the U.S. We show that stock returns of payment firms are strongly correlated with stock returns of E-commerce firms. Using three million observations at an online retailer, we provide micro-level evidence on the importance of payment firms for E-commerce purchases. When a customer’s preferred payment type is not seamlessly available, approximately a quarter of customers abandon the purchase instead of switching to a different payment type. We document this strong clientele effect both for credit cards, PayPal, as well as Buy-Now-Pay-Later (BNPL) products. Our results suggest that – although E-Commerce firms have access to many payment types – each payment firm has a significant bargaining power vis-à-vis E-Commerce firms.

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214th Congregation (Summer Congregation 2025)
7Jul-8Jul
Faculty Level | Event
214th Congregation (Summer Congregation 2025)
Grand Hall, Centennial Campus, HKU
Semiparametric Identification of the Discount Factor and Payoff Function in Dynamic Discrete Choice Models
Semiparametric Identification of the Discount Factor and Payoff Function in Dynamic Discrete Choice Models
Semiparametric Identification of the Discount Factor and Payoff Function in Dynamic Discrete Choice Models
Semiparametric Identification of the Discount Factor and Payoff Function in Dynamic Discrete Choice Models
Semiparametric Identification of the Discount Factor and Payoff Function in Dynamic Discrete Choice Models
18Jun
Economics | Seminar
Semiparametric Identification of the Discount Factor and Payoff Function in Dynamic Discrete Choice Models
18 June 2025 | 2:15 PM - 3:30 PM
KK 910 K. K. Leung Building, HKU
Prof. Katsumi Shimotsu
About Speaker
Prof. Tobias Berg

Professor of Finance, Frankfurt School of Finance & Management

On the Rise of Payment Firms
13 Apr 20224:30 p.m. – 6:00 p.m.
Zoom
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