Table 3.
Variable | Coefficients |
---|---|
Ratio of POS-terminals installed within the State’s programme (dl_posrat) | 0.251** |
(4.763) | |
Ratio of interchange fees to card payment turnover in category 1 (dl_mifrat) | − 0.141** |
(− 2.246) | |
AR(1) | 0.372* |
(1.928) | |
AR(2) | − 0.446** |
(− 2.246) |
*and **Indicates significance at 10 and 5 percent level respectively. Mifrat was calculated by merchant categories i.e. interchange fees paid by merchants in the given category, compared to the card payment turnover of retailers in the given category
Numbers in parenthesis are t-statistics.