ОБРАЗОВАНИЕ НАУКА И ИННОВАЦИОННЫЕ
ИДЕИ В МИРЕ
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ECONOMIC ANALYSIS OF ECOSYSTEM COMPETITION IN THE
DIGITAL PAYMENTS MARKET
J.Z.Rajabov
–
Samarkand branch of Tashkent state university of economics,
assistant
N.I.Sharqiyeva -
Samarkand branch of Tashkent state university of
economics, assistant
Annotation
The current stage of digitalization of the economy leads to radical changes in the
financial sector, especially in the field of payment solutions. Digital payment platforms
play a key role in transforming the ways of interaction between business, government
and consumers. This article aims to comprehensively analyze the competitive
environment in the digital payments market with an emphasis on platforms such as
Click, Payme and Stripe. The mechanisms of the ecosystem functioning, market
strategies are revealed, and a quantitative assessment of their economic efficiency is
carried out. Particular attention is paid to statistical modeling, methods for calculating
the market profitability of platforms, and an assessment of the role of digital payments
in macroeconomic development.
The article additionally considers areas for improving the regulation of digital
payment systems and possible models of sustainable growth of this sector in the context
of economic security. It is emphasized that the development of digital payment
infrastructure contributes to financial inclusion, increased transparency of financial
transactions and strengthening the competitive environment in regional markets.
Keywords:
digital payments, fintech, ecosystem, competitiveness, Click,
Payme, Stripe, market analysis, payment technologies, financial inclusion,
digitalization.
ОБРАЗОВАНИЕ НАУКА И ИННОВАЦИОННЫЕ
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Introduction
With the development of digital technologies and the acceleration of the pace of
digitalization of society, there is an active growth of the electronic payments sector.
The market of digital payment solutions has become a key element of the financial
infrastructure, ensuring fast and secure exchange of funds between all participants in
the economic system. Against the backdrop of this transformation, competition is
intensifying between traditional banking structures, fintech startups and global
technology platforms.
In Uzbekistan, the active development of platforms such as Click and Payme
reflects not only the internal needs of the market, but also global trends towards
accelerating non-cash payments and reducing transaction costs.
Methodology
The modern digital economy is based on the concept of an ecosystem approach,
in which companies do not compete individually, but interact within a single digital
environment. According to the theory of platform competition digital platforms
become infrastructure hubs that unite many participants, from suppliers and developers
to end users.
Within the framework of the “network economy” model the main source of value
is not just a product, but a network of participants that create a synergistic effect.
Payment systems such as Click, Payme and Stripe are forming their own digital
ecosystems, offering API interfaces, loyalty modules, analytical panels and services
for embedding into third-party platforms.
Competition in digital payment ecosystems occurs not only on price or quality of
service, but also due to:
•
level of user experience (UX);
•
availability of cross-platform solutions;
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•
degree of trust in data protection;
•
depth of integration with other digital services (e.g. marketplaces,
government services, banks).
According to Porter's approach, payment platforms can enhance their
competitiveness through differentiation and reduction of transaction costs, as well as
by creating sustainable relationships with key consumers.
•
The following methods were used to achieve the goal of the study:
•
statistical analysis of transaction data;
•
calculation of profitability ratios and market share;
•
use of the geometric growth model for forecasts;
•
comparative analysis of platforms (benchmarking);
•
logical-structural analysis of the impact of the ecosystem on the
macroeconomy.
Economic and statistical analysis
Platform
Transactions/month
(mln)
Average
bill
(sum)
Commission
(%)
Annual
turnover
(trillion
soums)
Commission
income
(trillion sum)
Click
30
110 000 1.0%
39.6
0.396
Payme
35
125 000 1.2%
52.5
0.63
Calculations:
Turnover = Transactions × Receipt × 12 / 1,000,000,000,000
Income = Turnover × Commission
Competitiveness Index (CI)
—
commission income per 1% of market share:
ОБРАЗОВАНИЕ НАУКА И ИННОВАЦИОННЫЕ
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Click: 0.396 / 0.38 ≈ 1.04
Payme: 0.63 / 0.42 ≈ 1.50
Geometric growth model forecast:
Vₙ = V₀ × (1 + r)ⁿ
For Payme:
V₀ = 52.5 trill
ion soums, r = 15%, n = 2 years
V₂ = 52.5 × (1.15)^2 ≈ 69.5 trillion soums in 2025
Additional section: Macroeconomic context
Digital payment systems have a multiplier effect on the economy, contributing to:
•
increased financial inclusion;
•
reduction of the shadow economy;
•
increased tax revenues;
•
increased transaction transparency.
World Bank: +10% digital payments = +0.5% to GDP in developing countries.
Central Bank of Uzbekistan: the share of non-cash transactions reached 70% in
2023.
Conclusion
The analysis showed that local platforms (Click, Payme) demonstrate high
profitability and a stable customer base. Payme outperforms its competitor in terms of
profitability index by 1% of market share, which indicates better monetization and user
activity.
The digital payment market remains a driver of economic growth and requires
active government support and investment openness. Effective regulation and
innovation determine the competitiveness of platforms in the long term.
References
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