Abstract
This study is aimed at evaluating the correlation between determinants of non-cash payments (ATMs, number of bank branches, and number of mobile phone users) and various economic indicators (broad money, inflation, consumer prices) as well as further studying which of the factors and to what extent influence each other in different periods. Non-cash payments are provided by ATMs. The sample considers panel data on nine developing countries. The data for calculation were taken from The World Bank, for Kazakhstan – from the Bureau of National Statistics of the Republic of Kazakhstan. The data collected during the study were analyzed using the SPSS software. Spearman’s correlation analysis was used. The results obtained in the empirical study briefly showed that the alternative hypothesis is confirmed for the period 2004–2009 (that the existing relationships are significant), at the same time, the null hypothesis was confirmed in terms of the level of significance for the period 2019–2020. Accordingly, this study showed that modern developments differ from those provided earlier and financial technology transformation is still in the process. The results of this study also indicated the need for further studies of non-traditional measures of financial development, which can lead to sustainable economic growth in the post-crisis period. AcknowledgmentsThe study was carried out within the framework of program targeted IRN OR11465433 funding by the Science Committee of the Ministry of Education and Science of the Republic of Kazakhstan “Development of the concept and mechanisms of balanced territorial development of the economy and society of Kazakhstan”.
Highlights
At present, the consequences of the crisis caused by the COVID-19 pandemic are great
This study is aimed at evaluating the correlation between determinants of non-cash payments (ATMs, number of bank branches, and number of mobile phone users) and various economic indicators as well as further studying which of the factors and to what extent influence each other in different periods
The results obtained in the empirical study briefly showed that the alternative hypothesis is confirmed for the period 2004–2009, at the same time, the null hypothesis was confirmed in terms of the level of significance for the period 2019–2020
Summary
The consequences of the crisis caused by the COVID-19 pandemic are great. Non-cash payments are an additional means of the very beginning flourished through computers protection and minimize contact through cash in through the use of online banking, which made the context of the COVID-19 pandemic According it possible to enter a card number to complete a to WHO, as of 2020, the virus affected more than transaction (Dahlberg et al, 2008; Chen & Nath, 200 countries, while more than 20 million peo- 2008). While in countries with example, of all banks in Kazakhstan, the most developing economies money, credit policy was high-tech one for 2020 is Kaspi It was this bank tied to target inflation, which showed excellent that first introduced this payment method in economic growth indicators, 36 devel-.
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