PayTech on BigTech platforms

IF 4 2区经济学 Q1 BUSINESS, FINANCE

Journal of Banking & Finance Pub Date : 2026-01-01 Epub Date: 2025-11-05 DOI:10.1016/j.jbankfin.2025.107585

Jonathan Chiu , Thorsten V. Koeppl

引用次数: 0

Abstract

Why do BigTech platforms introduce payment services? And do their users benefit? Digital platforms often run business models where activities on the platform generate data that can be monetized off the platform. The platform then trades off the value of such data against the cost that arises from subsidizing activities in order to compensate users for their loss of privacy. The way data interact with payments determines whether payments are introduced and how the introduction impacts users. When data help to provide better payments (data-driven payments), platforms have too little incentives to introduce payments, even though users benefit. Introduction is more likely when payments also generate additional data (payment-driven data), but the adoption of better payments may then hurt users.

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PayTech在BigTech平台上

为什么大科技平台会引入支付服务？他们的用户从中受益了吗？数字平台通常运行的商业模式是，平台上的活动产生的数据可以在平台外货币化。然后，该平台将这些数据的价值与补贴活动所产生的成本进行权衡，以补偿用户失去的隐私。数据与支付互动的方式决定了支付是否被引入，以及这种引入如何影响用户。当数据有助于提供更好的支付（数据驱动的支付）时，即使用户受益，平台也没有太多动力来引入支付。当支付也产生额外的数据（付费驱动的数据）时，引入更有可能，但采用更好的支付方式可能会伤害用户。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Banking & Finance Multiple-

CiteScore

6.40

自引率

5.40%

发文量

262

期刊介绍： The Journal of Banking and Finance (JBF) publishes theoretical and empirical research papers spanning all the major research fields in finance and banking. The aim of the Journal of Banking and Finance is to provide an outlet for the increasing flow of scholarly research concerning financial institutions and the money and capital markets within which they function. The Journal''s emphasis is on theoretical developments and their implementation, empirical, applied, and policy-oriented research in banking and other domestic and international financial institutions and markets. The Journal''s purpose is to improve communications between, and within, the academic and other research communities and policymakers and operational decision makers at financial institutions - private and public, national and international, and their regulators. The Journal is one of the largest Finance journals, with approximately 1500 new submissions per year, mainly in the following areas: Asset Management; Asset Pricing; Banking (Efficiency, Regulation, Risk Management, Solvency); Behavioural Finance; Capital Structure; Corporate Finance; Corporate Governance; Derivative Pricing and Hedging; Distribution Forecasting with Financial Applications; Entrepreneurial Finance; Empirical Finance; Financial Economics; Financial Markets (Alternative, Bonds, Currency, Commodity, Derivatives, Equity, Energy, Real Estate); FinTech; Fund Management; General Equilibrium Models; High-Frequency Trading; Intermediation; International Finance; Hedge Funds; Investments; Liquidity; Market Efficiency; Market Microstructure; Mergers and Acquisitions; Networks; Performance Analysis; Political Risk; Portfolio Optimization; Regulation of Financial Markets and Institutions; Risk Management and Analysis; Systemic Risk; Term Structure Models; Venture Capital.