Abstract
Payment technology is quintessential to our economy. It is as old as trade and constantly evolves from the ancient physical evidence of claims to digital medium of exchange. New technologies and regulations have emerged making the evolutions dynamic. Drawing on a longitudinal case study of payment technologies in Sweden from 1624 to 2017, we identify the interwoven nature of institutions, regulations, infrastructures, users, and markets and their role in the evolution of payment technologies. We build on past research on technology evolution, extend the multilevel perspective, and develop a payments technology transformation model (PTTM) that encompasses demand-side technologies with network effects. We also find that niche innovation is limited to regulated digital technologies. Being a modular technology, payment technologies layers evolve through different patterns, with its three layers of access technology, payment instrument, and funds.
| Original language | English |
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| Title of host publication | Proceedings of the Eighty-fifth Annual Meeting of the Academy of Management |
| Editors | Sonia Taneja |
| Number of pages | 1 |
| Place of Publication | Valhalla, NY |
| Publisher | Academy of Management |
| Publication date | Jun 2025 |
| DOIs | |
| Publication status | Published - Jun 2025 |
| Event | The Academy of Management Annual Meeting 2025 - Bella Center, København, Denmark Duration: 25 Jul 2025 → 29 Jul 2025 Conference number: 85 https://aom.org/events/annual-meeting/2025-copenhagen-denmark |
Conference
| Conference | The Academy of Management Annual Meeting 2025 |
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| Number | 85 |
| Location | Bella Center |
| Country/Territory | Denmark |
| City | København |
| Period | 25/07/2025 → 29/07/2025 |
| Internet address |
| Series | Academy of Management Annual Meeting Proceedings |
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| ISSN | 0065-0668 |