State Regulation of Loyalty Programs in Banking Sector
https://doi.org/10.21686/2413-2829-2026-1-161-172
Abstract
The article studies the impact of loyalty programs, in particular cash-back on economic activities of finance service consumers. It was underlined that in line with obvious benefits there are risks connected with insufficient transparency and aggressive marketing strategies. The authors analyzed available investigations in the field of cashback and loyalty programs highlighting key hypotheses concerning the impact of these tools on customer behavior. They substantiated the necessity of state regulation to protect customer rights and provide sustainability of finance market. The article put forward arguments in favor of strict rules and standards aimed at risk minimization and transparency rising. Concrete measures were elaborated necessary to upgrade loyalty program regulation, which can foster sustainable development of finance sector.
About the Authors
S. V. Boyko
Donetsk Academy of Management and Public Administration
Россия
Россия
Svitlana V. Boyko, PhD, Associate Professor, Associate Professor of the Department of Financial Services and Banking of Donetsk Academy of Management and Public Administration
163а Chelyuskintsev Str., Donetsk, 83015
M. I. Sukhinina
Donetsk Academy of Management and Public Administration
Россия
Россия
Marina I. Sukhinina, Assistant of the Department of Financial Services and Banking of Donetsk Academy of Management and Public Administration
163а Chelyuskintsev Str., Donetsk, 83015
References
1. Beldina O. G., Burlaka S. N. Pravovoe regulirovanie programm loyalnosti [Legal Regulation of Loyalty Programs]. Gumanitarnye, sotsialno-ekonomicheskie i obshchestvennye nauki [Humanities, Socio-Economic and Social Sciences], 2022, No. 11-2, pp. 31–33. (In Russ.).
2. Gromova I. N., Kovalev A. Yu. Psikhologiya potrebleniya: kak keshbek vliyaet na vybor finansovykh produktov [Psychology of Consumption: How Cashback Affects the Choice of Financial Products]. Sotsiologiya i ekonomika [Sociology and Economics], 2020, No. 7, pp. 29–37. (In Russ.).
3. Gryaznov S. A. Spetsifika kreditnykh kart s kеshbekom [Specificity of Credit Cards with Cashback]. Aktualnye problemy menedzhmenta, ekonomiki i ekonomicheskoy bezopasnosti: sbornik materialov VI Mezhdunarodnoy nauchnoy konferentsii. Kostanay, 11–12 noyabrya 2024 goda [Actual Problems of Management, Economics and Economic Security. Proceedings of the 6th International Scientific Conference, Kostanai, November 11–12, 2024]. Cheboksary, OOO «Izdatelskiy dom "Sreda"», 2024, pp. 45–48. (In Russ.).
4. Kuznetsova N. V. Vliyanie programm keshbeka na potrebitelskoe povedenie: analiz i perspektivy [Influence of Cashback Programs on Consumer Behaviour: Analysis and Perspectives]. Zhurnal marketinga [Journal of Marketing], 2021, No. 3, pp. 45–52. (In Russ.).
5. Lebedeva M. P., Kuzmin V. I. Analiz vliyaniya keshbeka na finansovoe povedenie molodezhi [Analysis of the Impact of Cashback on the Financial Behaviour of Young People]. Molodezh i ekonomika: vyzovy i resheniya [Youth and Economy: Challenges and Solutions], 2023, pp. 90–97. (In Russ.).
6. Mashkov S. N. Rol marketinga v povyshenii effektivnosti vzaimootnosheniy s klientami na primere PAO «Sberbank» [The Role of Marketing in Increasing Efficiency of Customer Relations on the Example of PJSC «Sberbank»]. Vestnik evraziyskoy nauki [Bulletin of Eurasian Science], 2024, Vol. 16, No. S2. (In Russ.).
7. Mikhaylova T. A., Petrov V. S. Rol keshbeka v formirovanii loyalnosti klientov k finansovym uchrezhdeniyam [The Role of Cashback in the Formation of Customer Loyalty to Financial Institutions]. Finansoviy zhurnal [Financial Journal], 2022, No. 4, pp. 12–19. (In Russ.).
8. Pavlov S. V., Nikiforov A. A. Keshbek i ego vliyanie na ekonomicheskuyu aktivnost potrebiteley: empiricheskoe issledovanie [Keshback and Its Impact on Economic Activity Consumers: an Empirical Study]. Nauchniy vestnik universiteta [Scientific Bulletin of the University], 2022, No. 6, pp. 15–22. (In Russ.).
9. Prokopenko R. V. Programmy loyalnosti kak instrument rosta effektivnosti prodazh [Loyalty Programmes as a Tool for Sales Efficiency Growth]. Epomen. Global, 2024, No. 48, pp. 137–141. (In Russ.).
10. Ryabova O. A., Tarasova N. V. Keshbek kak faktor povysheniya konkurentosposobnosti finansovykh uslug [Keshback as a Factor in Increasing the Competitiveness of Financial Services]. Vestnik ekonomiki i upravleniya [Vestnik of Economics and Management], 2021, No. 9, pp. 101–108. (In Russ.).
11. Sergeev A. I. Keshbek kak instrument stimulirovaniya potrebitelskogo sprosa [Keshback as a Tool to Stimulate Consumer Demand]. Ekonomika i upravlenie [Economics and Management], 2020, No. 5, pp. 23–30. (In Russ.).
12. Slavova A. V., Kozlova N. P. Faktory formirovaniya loyalnosti klientov v bankovskom sektore Rossii [Factors of Forming Customer Loyalty in the Banking Sector of Russia]. Teleskop: zhurnal sotsiologicheskikh i marketingovykh issledovaniy [Telescope: Journal of Sociological and Marketing Research], 2024, No. 1 (13), pp. 62–67. (In Russ.).
13. Tikhomirov D. A. Vliyanie keshbek-programm na potrebitelskoe povedenie v sfere kreditovaniya [Influence of Cashback Programs on Consumer Behaviour in Lending]. Zhurnal finansovykh issledovaniy [Journal of Financial Research], 2021, No. 1, pp. 50-56. (In Russ.).
14. Shulyateva G. M. Keshbek kak instrument vliyaniya banka na sotsialno-ekonomicheskoe razvitie regiona [Cashback as a Tool of the Bank's Influence on the Socio-Economic Development of the Region]. Tendentsii i perspektivy razvitiya bankovskoy sistemy v sovremennykh ekonomicheskikh usloviyakh: materialy V Vserossiyskoy nauchno-prakticheskoy konferentsii s mezhdunarodnym uchastiem. Bryansk, 20 dekabrya 2023 goda [Trends and Prospects of the Banking System Development in Modern Economic Conditions. Proceedings of the 5th All-Russian Scientific and Practical Conference with International Participation. Bryansk, December 20, 2023]. Bryansk, Bryanskiy gosudarstvenniy universitet im. akad. I. G. Petrovskogo, 2024, pp. 92–96. (In Russ.).
15. Sutarso Yu., Sekarsari L. A., Ilfitiah A. M., Martha L. S. Understanding Female Segments Based on Benefit of Loyalty Program. Jurnal Aplikasi Manajemen, 2023, Vol. 21, No. 2, pp. 516–533.
Review
For citations:
Boyko S.V., Sukhinina M.I. State Regulation of Loyalty Programs in Banking Sector. Vestnik of the Plekhanov Russian University of Economics. 2026;(1):161-172. (In Russ.) https://doi.org/10.21686/2413-2829-2026-1-161-172
Views:
21
JATS XML
Email this article 