The Influence of the Effect of Marketing Incentives on the Dynamics of the Development of Classic and Cryptocurrency Payment Systems

Victor Dostov, Victor Dostov, Pavel Pimenov, Pavel Shoust, Pavel Shoust, Victor Titov, Victor Titov

2022

Abstract

The article examines the role of marketing incentives and social hype on the growth rate and the number of customers of developing payment systems, both classic and cryptocurrency. The authors prove that using marketing incentives can have only a short-term positive effect, which does not provide changes in the typical trend of the payment system development. The conclusions were confirmed by a comparative analysis of the results of the modified Bass equation application and by an empirical study conducted by Indonesian researchers in the form of a sociological survey. For this purpose, a trend for the number of transactions using electronic money in Indonesia was built. The study confirmed generally the findings of Indonesian researchers. Nevertheless, it is established that in contradiction with the conclusions of Indonesian researchers, marketing incentives provide an effect on the market, however relatively small one. The same results were demonstrated for Bitcoin and WebMoney payment systems dynamics.

Paper Citation

in Harvard Style

Dostov V., Pimenov P., Shoust P. and Titov V. (2022). The Influence of the Effect of Marketing Incentives on the Dynamics of the Development of Classic and Cryptocurrency Payment Systems. In Proceedings of the 3rd International Symposium on Automation, Information and Computing - Volume 1: ISAIC; ISBN 978-989-758-622-4, SciTePress, pages 580-585. DOI: 10.5220/0011961700003612

in Bibtex Style

@conference{isaic22,
author={Victor Dostov and Pavel Pimenov and Pavel Shoust and Victor Titov},
title={The Influence of the Effect of Marketing Incentives on the Dynamics of the Development of Classic and Cryptocurrency Payment Systems},
booktitle={Proceedings of the 3rd International Symposium on Automation, Information and Computing - Volume 1: ISAIC},
year={2022},
pages={580-585},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0011961700003612},
isbn={978-989-758-622-4},
}

in EndNote Style

TY - CONF

JO - Proceedings of the 3rd International Symposium on Automation, Information and Computing - Volume 1: ISAIC
TI - The Influence of the Effect of Marketing Incentives on the Dynamics of the Development of Classic and Cryptocurrency Payment Systems
SN - 978-989-758-622-4
AU - Dostov V.
AU - Pimenov P.
AU - Shoust P.
AU - Titov V.
PY - 2022
SP - 580
EP - 585
DO - 10.5220/0011961700003612
PB - SciTePress