Advanced Payment Research Articles

Factors Affecting the Acceptance of Modern Payment Systems in the Delhi NCR: An Empirical Study

Purpose: This study looks at the factors affecting the acceptance of modern payment systems in the Delhi NCR area. It expects to recognize key segment and conduct determinants affecting the reception of advanced payment innovations. Methodology: An observational methodology was utilized, including an overview of 135 respondents from the Delhi NCR locale. Information were investigated utilizing ANOVA and relationship examinations to evaluate the effect of factors like age, orientation, training, pay, saw security, and convenience. Findings/Results: The study finds that younger age groups, higher income levels, and higher education levels are significantly associated with greater acceptance of modern payment systems. Perceived security and ease of use also play critical roles in influencing adoption rates. Originality/Value: This research provides a comprehensive analysis specific to the Delhi NCR context, filling gaps in existing literature on digital payment adoption in emerging markets. It offers valuable insights for financial institutions and policymakers aiming to enhance the adoption of digital payment systems. Implications: The findings suggest that targeted educational programs and security enhancements could improve the acceptance of modern payment systems. Policymakers and financial institutions can use these insights to design strategies that address the barriers and promote the benefits of digital payments. Paper Type: Empirical research paper focused on the factors affecting the acceptance of modern payment systems, providing actionable insights for stakeholders in the financial sector.

Two-Warehouse Inventory Model: Interval Valued Costs, Advanced Payment, Stock-Dependent Demand, and Partial Backlogging

A great deal of inventory costs are typically unpredictable because of the unpredictability of a competitive market. The fluctating demand from customer's and the unpredictability of the market economy make it difficult for researchers and operation research practitioners to appropriately replicate an inventory problem. In order to prevail this type of unpredictability circumstances, in this paper, we have represented the inventory parameters as interval. Using this concept, we progressed a two-warehouse inventory model for deteriorating items with a fixed Shelf life, partially backlogging shortages and interval-valued deterioration rate. In addition to this the parameters like ordering cost, purchase cost, shortage cost, deterioration cost for both the rented and owned warehouse except the backlogging parameter have been considered as interval-valued. The uncertainty in the inventory parameters motivated us to view them as interval-valued in the present research. Based on the assumptions, the cost function of this problem is a highly nonlinear constraint optimization problem. Mathematica is used to tackle this nonlinear optimization problem. A numerical example has been presented to demonstrate the computational result. Then, a sensitivity analysis has been performed to study the effect of changes of different parameters of the model on the optimal policy.

Inventory policy for degrading items under advanced payment with price and memory sensitive demand using metaheuristic techniques

Inventory policy for degrading items under advanced payment with price and memory sensitive demand using metaheuristic techniques

Technology roadmapping for the e-commerce sector: A text-mining approach

Due to rapid technological advancements and shifting consumer dynamics, the e-commerce industry has undergone rapid transformation. Further, emerging technologies, including artificial intelligence, blockchain, and augmented reality, have the ability to revolutionize the e-commerce landscape. However, limited studies have mapped the technological evolution in the e-commerce sector. Therefore, this study offers a multi-faceted forecast of e-commerce technologies by combining patent analysis, semantic network analysis, and topic modelling approaches. The study analyzes 4113 patents and categorizes them into two time periods: 2001–2012 and 2013–2023. This study constructs co-word maps, defines the relationships between the words, and examines how the co-word relationships have changed over the time period. In the period between 2001 and 2012, the patents are categorized into four clusters: information processing and communication technologies, product purchase and sale management, e-commerce systems, and digital transaction and security management. For the period spanning between 2013 and 2023, the patents are classified into seven clusters: user experience, integrating devices, product information management, e-commerce infrastructure, advanced e-commerce authentication, pricing and payment solution, platform development, and e-commerce optimization. It aims to bridge theory and practice by developing a roadmap of near-, mid-, and far-future e-commerce technologies. The study highlights implications for practice and theory.

Optimal decisions for green products with advanced payment scheme and selling price‐dependent demand under interval uncertainty

In the current competitive market, green products are becoming more and more in demand across all customer demographics due to environmental contamination. Consequently, this has a direct impact on the notable rise in product demand. Conversely, a product cannot be used or repurposed if its maximum useful life has already elapsed. Therefore, the product's maximum lifespan plays a crucial role in inventory management. Advance payment is a critical component of the supplier–retailer relationship for a seasonal product with high demand. By integrating these issues, an inventory model for perishable goods is created, wherein the demand for the good is impacted by both its selling price and its green level. The model also includes linearly time‐dependent holding costs. According to this model, product greenness has an increasing effect on per‐unit costs. Different numerical examples are studied for supporting this model. Optimality of the objective function is shown graphically as well as numerically with the help of MATHEMATICA software. Finally, a fruitful conclusion is reached after performing a sensitivity analysis and visually depicting the impact of changing various factors.

Supply chain finance-based payment scheme strategies in a pull supply chain

A pull supply chain can reduce unnecessary inventory and lower carbon emissions. However, suppliers' capital constraints in the pull supply chain hinder their production and may disrupt the entire supply chain, limiting participants' efforts in sustainability actions. To alleviate this situation and motivate upstream and downstream enterprises in the supply chain to reduce carbon emissions for sustainable development, many core companies or financial institutions have employed payment-term-based supply chain finance (SCF) mechanisms such as carbon trade financing, including advanced payment, delayed payment, and reverse factoring. In this study, we acquire the optimal decisions for the supplier and manufacturer under each model and investigate the impacts of different payment schemes on the performance of individuals and the entire supply chain. In addition to reducing carbon emissions to promote sustainability goals, these payment mechanisms are also profitable. By comparing SCF-based payment schemes with the classic bank at-once payment, we show that the optimal payment scheme depends on financing priority. Furthermore, SCF-based payment schemes enhance profit efficiency in response to increasing demand fluctuations. The findings of our study provide insights for supply chain participants to choose the best payment-term-based SCF programmes to optimise operations, enhance their profitability, and achieve sustainable development.

An inventory model with preservation technology investments and stock-varying demand under advanced payment scheme

An inventory model with preservation technology investments and stock-varying demand under advanced payment scheme

A Two-Generation, Early Childhood Advanced Primary Care Model.

It is well recognized that early experiences produce long-term impacts on health outcomes, yet many children are at risk of not achieving their full potential because of health and service disparities related largely to poverty and racism. Although many pediatric primary care (PPC) models address these needs, most are isolated, add-on efforts that struggle to be scalable and sustainable. We describe 3-2-1 IMPACT (Integrated Model for Parents and Children Together), an initiative to transform the model of PPC delivered within New York City Health + Hospitals, the largest public hospital system in the United States, to address the full range of child and family needs in early childhood. Taking advantage of the frequent contact with PPC in the early years and linking to prenatal services, the model assesses family mental, social, and physical health needs and offers evidence-based parenting supports and integrated mental health services. Launching and sustaining the model in our large health system has required coalition building and sustained advocacy at the state, city, and health system levels. Long-term sustainability of the IMPACT model will depend on the implementation of early childhood-focused advanced payment models, on which we have made substantial progress with our major contracted Medicaid managed care plans. By integrating multiple interventions into PPC and prenatal care across a large public-healthcare system, we hope to synergize evidence-based and evidence-informed interventions that individually have relatively small effect sizes, but combined, could substantially improve child and maternal health outcomes and positively impact health disparities.

Optimization of Diagnosis-Related Groups for 14,246 Patients with Uterine Leiomyoma in a Single Center in Western China Using a Machine Learning Model.

Uterine leiomyoma (UL) is one of the most common benign tumors in women, and its incidence is gradually increasing in China. The clinical complications of UL have a negative impact on women's health, and the cost of treatment poses a significant burden on patients. Diagnosis-related groups (DRG) are internationally recognized as advanced healthcare payment management methods that can effectively reduce costs. However, there are variations in the design and grouping rules of DRG policies across different regions. Therefore, this study aims to analyze the factors influencing the hospitalization costs of patients with UL and optimize the design of DRG grouping schemes to provide insights for the development of localized DRG grouping policies. The Mann-Whitney U-test or the Kruskal-Wallis H-test was employed for univariate analysis, and multiple stepwise linear regression analysis was utilized to identify the primary influencing factors of hospitalization costs for UL. Case combination classification was conducted using the exhaustive chi-square automatic interactive detection (E-CHAID) algorithm within a decision tree framework. Age, occupation, number of hospitalizations, type of medical insurance, Transfer to other departments, length of stay (LOS), type of UL, admission condition, comorbidities and complications, type of primary procedure, other types of surgical procedures, and discharge method had a significant impact on hospitalization costs (P<0.05). Among them, the type of primary procedure, other types of surgical procedures, and LOS were the main factors influencing hospitalization costs. By incorporating the type of primary procedure, other types of surgical procedures, and LOS into the decision tree model, patients were divided into 11 DRG combinations. Hospitalization costs for UL are mainly related to the type of primary procedure, other types of surgical procedures, and LOS. The DRG case combinations of UL based on E-CHAID algorithm are scientific and reasonable.

Where Are All the Specialists? Current Challenges of Integrating Specialty Care Into Population-Based Total Cost of Care Payment Models.

The Centers for Medicare & Medicaid Services Innovation Center (CMMI) has set the goal for 100% of traditional Medicare beneficiaries to be part of an accountable care relationship by 2030. Lack of meaningful financial incentives, intolerable or unpredictable risk, infrastructure costs, patient engagement, voluntary participation, and operational complexity have been noted by the provider and health care delivery community as barriers to participation or reasons for exiting programs. In addition, most piloted and implemented population-based total cost of care (PB-TCOC) payment models have focused on the role of the primary care physician being the accountability (that is, attributable) leader of a patient's multifaceted care team as well as acting as the mayor of the "medical neighborhood," leaving the role of specialty care physicians undefined. Successful provider specialist integration into PB-TCOC models includes meaningful participation of specialists in achieving whole-person, high-value care where all providers are financially motivated to participate; there is unambiguous prospective attribution and clearly defined accountability for each participating party throughout the care journey or episode; there is a known care attribution transition accountability plan; there is actionable, transparent, and timely data available with appropriate data development and basic analytic costs covered; and there is advanced payment to the accountable person or entity for management of the care episode that is part of a longitudinal care plan. Payment models should be created to address the 7 challenges raised here if specialists are to be incented to join TCOC models that achieve CMMI's goal.

Advance Payment System using Wireless RFID Technology

As the world is moving toward a digital era, cashless payments are quite in demand. Smart cards that need to be swiped are vulnerable to skimming attacks and data theft. Thus, there is a need to have a cashless transaction system that is fast as well as secure and allows hassle-free transactions. This Work propose a novel approach to develop an advanced cashless payment system based on RFID that can be deployed anywhere to enable faster smoother, and secure transactions. The users of the system will have to be pre- registered and all the user-related information will be saved in a MySQL database the system will be programmed using HTML, CSS, and PHP or any supporting back-end programming language. The RFID reader will interact with a microcontroller ESP32 WROOM and the Microcontroller will be connected with an application using a WIFI module built into the micro-controller. Key Words: RFID Technology, Wireless Payment Systems, Secure Transactions.

Virtual credit and debit card issuing system

Malawi's technological landscape is rapidly evolving across various sectors, including finance and business, driven by innovative individuals who are constantly pushing the boundaries of innovation. The internet plays a pivotal role in this transformation, enabling seamless online transactions that have become integral to modern financial practices. This technological evolution relies heavily on advanced payment methods, including traditional options like Visa cards and cutting-edge cryptocurrencies such as Bitcoin. The practicality of implementing a Virtual Card Issuing System to address key concerns like security, transaction speed, spending control, and cost savings is evident and increasingly necessary. Due to the digital nature of virtual cards, they inherently mitigate risks associated with physical cards, offering significant resistance to loss or theft. They provide precise spending control for both individuals and businesses, ensuring that expenditures can be monitored and managed with great accuracy. Additionally, rapid decentralized (blockchain) transaction processing ensures customer engagement by facilitating quick and efficient transactions, fostering loyalty, and enhancing profitability. Furthermore, the proposed system optimizes cash flow management, extends float periods, and introduces new income-generation opportunities. These features are particularly beneficial in a dynamic economic environment, as they allow businesses to maintain liquidity and leverage financial resources more effectively. Additional key findings of the study highlight that virtual cards can significantly reduce administrative overhead and fraud detection costs. They also facilitate real-time expense tracking and reporting, which enhances financial transparency and accountability, making financial oversight more straightforward and less time-consuming. Moreover, the study underscores that virtual cards offer a scalable solution that can grow with the needs of both small enterprises and large corporations, providing flexibility and adaptability in an ever-changing market. In the context of Malawi's growing technological landscape, this project holds significant promise for enhancing financial efficiency and security. It aligns with the nation's digital aspirations by encouraging broader economic growth, digital literacy, and the widespread adoption of digital financial tools. By fostering a more secure and efficient financial environment, the implementation of a Virtual Card Issuing System can contribute to the overall economic development of Malawi. It can empower individuals and businesses alike, providing them with the tools necessary to thrive in a digital economy. As a result, this initiative not only supports current technological trends but also lays a foundation for future innovations.

Advanced payment strategy for EOQ model regarding perishable product with maximum lifetime, customer return, preservation technology and partial backlogging

Advanced payment strategy for EOQ model regarding perishable product with maximum lifetime, customer return, preservation technology and partial backlogging

Impact of Perceived Convenience on Intention to Use Mobile Payments in Mediating Perceived Risk

This study analyzes the ease of use of consumer m-payment systems, besides that the risk factors for use are also studied related to the ease of use factor on the intention to use m-payment Gen Z to make payment transactions. The sample in this study was FEB Unmus management students with an average age of 22 years, totaling 165 respondents based on the returned questionnaire. The data were obtained using a research questionnaire adjusted to the variable construct. OLS regression was used to explain the influence of each factor. Given the increasingly advanced mobile technology and online payment instrument competition that continues to grow. The dominant consumer response to PEU2 items provides a clear picture, that privacy data security risks greatly interfere with the intention to use m-payment. Implicitly, mobile-based technology financial services are more compatible with the social behavior of Generation Z consumers, because for them using a mobile platform is a spontaneous solution. This study is certainly not perfect in explaining the role of the TAM model, further implications need to examine other factors such as subjective norms or lifestyle factors, and convenience factors because they use mobile devices anytime to make payments and m-payments quickly and easily. This means that Generation Z will use mobile payments more if they think that m-payment suits their lifestyle.

The Future of Finance: Fintech and Digital Transformation

The realm of financial technology, or fintech, has been increasingly gaining attention and interest as it pertains to the integration of technology in financial services. This paper endeavors to provide an overview of various facets of fintech, including its impact on online payments, Peer-to-Peer (P2P) lending, Robo-advice, and blockchain technology. One significant effect of fintech is observed in the area of online payments, where traditional banking methods are being substituted with more advanced online payment systems. Fintech has emerged as a promising solution to the challenge of convenient, secure, and fast payment transactions for goods and services. P2P lending, another fintech innovation, enables borrowers to obtain loans without having to go through traditional financial institutions. This process has been simplified and made more accessible through the use of fintech platforms that connect borrowers with lenders. The paper also addresses the use of Robo-advice in fintech, which utilizes algorithms and artificial intelligence to provide financial advice to clients. Robo-advice technology has increased accessibility to financial advice for a more extensive range of people, reducing the barriers that might have limited access to this type of financial service. Finally, this paper examines the importance of blockchain technology in fintech, with its potential to streamline processes and ensure security in financial transactions. The decentralized nature of blockchain technology offers a robust solution to financial security, ensuring that transactions are secure, transparent, and immutable. In conclusion, the essay underlines the transformative potential of fintech in the financial industry with its numerous innovations.

Present State and Future Directions of Digital Payments System: A Historical and Bibliographic Examination

Purpose: The purpose of this research is to conduct a bibliographic analysis of digital payment systems. Theoretical framework: The digital payments system is a technologically advanced payment system that enables individuals, businesses, and nations to become self-sufficient, contactless, and tap-less when conducting transactions. Understanding the significance of the digital payment system is crucial. There remains much to investigate and discover. Design/methodology/approach: The using of an academic search method on the Scopus database, a bibliometric study of 714 publications on digital payment systems from the year 2000 to 2022 was conducted. For this experiment, we made use of Biblioshiny, an R-based web application available in the Bibliometrix package. We were able to identify significant publications, authors, nations, and article themes by using the software's automatic technique. We studied the citations, co-citations, and social networks. Findings: The results were able to identify significant publications, authors, nations, and article themes by using the software's automatic technique. We studied the citations, co-citations, and social networks. The statistics revealed that the number of publications increased gradually in the early years, followed by a sharp rise between the years 2005 and 2022. These years correspond to the political attempts to recover from the 2008 global financial crisis. India conducts the most significant scientific research in this field, followed by United States and China. Research, Practical &amp; Social implications: This study not only identifies the research fields in digital payment systems, but also identifies the central key themes with possible research directions, in the area of electronic money, mobile money, authentication, security, Internet of things, blockchain, FinTech, mobile banking and Covid – 19. Originality/value: The findings of this study may be used by policymakers to inform the design of digital payment systems, policy initiatives, and other policy measures. Banking, financial planning, and investment management professionals would understand the rising concerns completely. Therefore, researchers, practitioners, and policymakers will use the current literature while doing fresh research on the Payments system's strengths and weaknesses.

Evolving consumer expectations and the future of digital banking

The financial services industry has a long history of deploying new technology to respond to evolving customer expectations. The rise of digital banking in recent years represents a significant acceleration of technological change, fuelled by factors like the COVID-19 pandemic and shifting demographics. In the vanguard of sweeping industry changes are the FinTech providers. Advances such as cloud computing APIs and machine learning are being deployed to deliver seamless, 24/7 finance and banking services to consumers who now expect immediate, accessible digital solutions that provide both safety and convenience. Banks need to keep up with the incredible pace of change but face challenges in the form of entrenched legacy systems, siloed operations, a vast beachfront of propositional enhancements and compliance with regulations — issues that typical single-minded FinTechs are less burdened with. Many banks, however, are seeking to overcome these challenges, knowing that otherwise they face diminished market relevance. For many, the answer lies in partnering with existing FinTechs in mutually beneficial engagements that can deliver for increasingly digitally savvy users, such as a partnership between Barclays and TransferMate to deliver advanced cross-border payment services. Regulatory developments like Open Banking have set the scene for increased market competition as well as integrated disparate systems between multiple providers for the benefit of the end user. Onto this stage have entered traditional big-tech firms like Apple, Amazon Google and Meta, seeking opportunities to reshape the digital payments space. In parallel with these developments has emerged decentralised finance (DeFi) offerings that leverage concepts like Blockchain technology, smart contracts and distributed ledgers to provide solutions outside of the centralised processes of traditional finance. This paper explores the changing shape of digital banking; the potential for both competition and collaboration between banks, FinTechs and traditional tech companies; and examines how consumer demands are driving innovation.

Is RFID adoption a double-edged sword? The impacts of a capital-constrained manufacturer

This paper uses a newsvendor game model to investigate RFID adoption strategy in a supply chain incorporating a retailer with misplaced inventory problem and a capital-constrained manufacturer who has limited access to the advanced payment financing or the peer-to-peer (P2P) financing. Our work endeavors to investigate the interaction between supply chain members’ RFID adoption strategy and the manufacturer’s financing decision. We solve the model analytically and obtain several interesting findings. The RFID technology can be adopted precisely when the unit RFID tagging cost falls below a certain threshold. One Surprising finding is that RFID adoption has two effects, a negative effect can exacerbate the manufacturer’s financial difficulties, and a positive effect can alleviate or even essentially change the manufacturer’s financial status. However, such fundamental changes are restricted by the size of retailer’s misplacement rate. Also surprisingly, we expose that the manufacturer’s financing decision is significantly influenced by RFID adoption strategy at a middle level of initial capital. With the differentiated sizes of the lower limit of initial capital, the manufacturer will adjust financing decision in response to RFID adoption strategy.

Payment Integration Plays a Crucial Role in the B2B eCommerce Landscape

In the rapidly evolving realm of B2B eCommerce, payment integration emerges as a pivotal component for ensuring streamlined transactions and enhancing client relationships. This article investigates the vital aspects of payment integration within B2B platforms, highlighting the significance of the payment experience to eCommerce success. It explores strategies to optimize payment processes, addresses integration challenges, and discusses employing advanced payment technologies. The focus is on the need for secure, efficient payment solutions adapted to the complex dynamics of B2B transactions, including varied pricing structures, approval workflows, and system synchronizations. The article concludes that businesses that adopt industry best practices for payment integration are better positioned to achieve growth and maintain a competitive edge in B2B eCommerce.

Crypto Currencies (challenges, risks, and ways to confront)

This study mainly aims to clarify the concept of virtual currencies (encrypted) mainly and the extent to which they are related to the rest of the other digital currencies, as technological progress and the resulting innovations have contributed to bringing about radical changes with regard to the way the institutional unit manages its business and provides its services, the most prominent of which is related to the emergence of Encrypted virtual currencies, as Bitcoin is one of the most widespread and famous globally, in addition to the severe fluctuations in its currency and the presence of many risks associated with it. However, it has gained the confidence of its dealers within the global Internet due to its ability to benefit from financial services closely related to it easily and smoothly through the electronic platforms available on the Internet, which encouraged some institutions around the world to deal with it and accept it as a means of payment. Therefore, this study will review and analyze the benefits and advantages of cryptocurrencies, in addition to diagnosing the challenges and risks, and what these digital currencies require in all their forms and types of appropriate infrastructure for their adoption and application, because of their direct impact on the level of the financial and banking industry, especially the payment sector and money transfer through systems Advanced payment and settlement. Therefore, it is necessary to focus on tracking developments in these currencies and analyzing the results of combining information technology and policy analysis with the aim of diagnosing their potential effects on payments and monetary policies, as well as financial services, targeting financial stability, and adopting the necessary measures to deal with these currencies and their effects