Abstract

In mature and highly regulated markets, digital entrepreneurship may demand institutional changes to flourish. This paper aims to analyze institutional changes associated with the entry of new digital entrepreneurs (fintechs) into a national payment system. To achieve this goal, we conducted a case study in the Brazilian mobile payment system, with data collected from multiple sources, such as interviews with fintech entrepreneurs, document analysis, a survey with 580 users and non-users of mobile payments, and participant observations during a fintech summit. The Institutional Theory supported the understanding of institutional changes regarding the regulatory, normative, and cultural/cognitive pillars of the mobile payment system needed to support the new entrants (fintechs). The institutional work performed to carry on these changes is also analyzed.

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