Bank Payment Cards Research Articles

РОЗРОБКА МАНІПУЛЯТОРА ДЛЯ ПОВНОЇ АВТОМАТИЗАЦІЇ ПРОЦЕСУ ЗАРЯДЖАННЯ ЕЛЕКТРОМОБІЛЕЙ

Electric cars are gradually gaining popularity both in the world and in Ukraine. But in order for them to be freely used throughout the country, an appropriate infrastructure is needed. Unlike traditional cars with internal combustion engines, electric cars can be refuelled anywhere there is access to an electrical outlet. The main problems of electric cars during their operation over long distances are related to the duration of the journey on one charge and the low development of the infrastructure for them. Systems of automated charging stations are also gradually developing. There are already terminals of charging stations with payment by bank card and other payment systems, but they work on the principle of self-service. For full automation of the charging process, connecting the charging station to the electric car without human intervention is not enough. Wireless charging can solve this problem, but at this stage of development, the power transferred in this way is not always enough. To solve this problem, a combination of a manipulator arm and a typical charging station was proposed. The manipulator will determine the vehicle's position and insert the charging station's socket into the car's plug using sensors and machine vision. As part of this work, we made a conceptual project of a manipulator that will automatically connect the connector of the charging station to the car. Also, for this charging complex, a system of monitoring and protection of the electrical connection of the charger with the consumer against short circuit, overheating, sparking and arcing connector was developed, taking into account various interchangeable connectors. When developing the manipulator's arms, the following tasks were taken into account: ensuring sufficient kinematic freedom of movement to cover the working area of the charging station service and maximally simplifying the design. To reliably ensure access to any point of the working space, a kinematic scheme with two translational and three rotational links was used. Next, to determine the position of the manipulator in the workspace, the direct and inverse kinematics problems for this scheme were solved. The physical model of the manipulator along with servomotors, PID controllers and control system based on the equations of kinematics problems was simulated in the Matlab application software package. The implementation of a machine vision system and a switching device protection system is proposed for a full-fledged control system of the automated charging station. The resulting design of the automated charging station is experimental and does not have many analogues in the world. The modularity of the design ensures the versatility of its use at other types of charging stations, as well as the possibility of its modernization.

Fraud Using Bank Payment Cards: A Way for Financing of Terrorism and Separatism

It is substantiated that intensification of terrorism and separatism in Ukraine in time of war rises the priority of problems related with fight against their financing. The banking system, offering a diversity of financial services and tools, is an attractive object for using fraudulent schemes. Money laundering using bank payment cards and with further financing of terrorism and separatism is a significant component of criminal activities. The article’s objective is to explore the main categories of fraud using bank payment cards as a way for financing of terrorism and separatism, and to determine methods for elimination of these activities. The research process involved methods of induction, deduction, system approach, logical generalization, graphic visualization. It was revealed that the fraud was taking new and more sophisticated forms and ways, of which the most common ones were skimming, cash trapping, fishing, or phone call to obtain secret data. It is argued that the principal methods for minimizing the fraud with bank payment cards is raising awareness and financial literacy of bank clients in issues related with various categories of fraudulent actions, as well as modernization and upgrading the software protection system in a bank. 
 It is determined that the current phase of digitalization in the bank sector creates new risks of fraud using bank payment cards for financing of terrorism and separatism. It is substantiated that the system designed to counteract financing of terrorism and separatism by way of fraud involves two mechanisms: identification, by bank employees, of persons applying to banks for financial services, and surveillance of financial transactions made by these persons, to detect the ones that may involve financing terrorism and separatism. The risk zone in Ukraine spreads on the financial transactions that, not being subject to identification, may be used to finance terrorist actions or support separatism. It refers to the financial transactions made by use of payment systems.

Further Insight into the Usage of Bank Cards Over Cash at the Point-of-Sale?

Abstract The several benefits of e-payment for consumers, businesses, and economies make decreasing or ideally eliminating the use of cash an important concern of governments and policymakers. In several emerging countries, there is substantial evidence that using bank cards for payment in retail Point-Of-Sale is still less popular than cash, especially for small-value purchases. Attitudinal factors are amongst the major understudied motives of bank card payment behavior. Little is known about the effects of perceived benefits of bank card use on trust and the subsequent outputs of this trust. Building on the Technology Acceptance Model and the Theory of Planned Behavior, this research proposes and empirically tests a model explaining the roles of perceived benefits and security in affecting consumer trust and the consequent effect of trust on consumers’ attitudes toward bank card payment. This attitude is supposed to build continued usage of bank cards for in-store payment. Respondents were approached in real conditions where the experience of payment in retail Point-Of-Sale occurs. A questionnaire was administered face-to-face with respondents surveyed before they left several small retail stores such as grocery stores, convenience stores, and minimarkets in Southeast Tunisia. The PLS-SEM results show that consumers have built up trust because of their perceived benefits and security of bank card payments. Trust has a positive effect on consumers’ attitudes toward bank cards. The positive attitude persuades consumers to use bank cards for payment purposes at Point-Of-Sale. The findings help inform the research community by elucidating the nature of the relationships between perceived benefits, perceived security, trust, attitude, and continued payment with bank cards in retail Point-Of-Sale. Governments, financial service providers, and businesses need to focus on developing valuable perceived benefits of using bank cards to increase trust, positive attitude, penetration, and continued customers’ usage of bank cards. This will benefit local and national economies by winning greater market share from cash. The Tunisian context is examined in this research. However, the results might be applied to many other in-developing countries.

A cross-impact analysis of the bank payment card market parameters and non-financial sectors’ indicators in the Ukrainian economy

In Ukraine, card payment systems develop at a rate similar to that of modern digital payment instruments in most European countries. The purpose of the paper is to establish interdependence and explain the nature of changing situations in the market of bank payment cards (BPC) taking into account the dynamics of economic development parameters in non-financial sectors of the Ukrainian economy. The methodology of the study includes graphic methods analyzing the dynamics of economic development indicators and a method for analyzing the cause-and-effect relationship between the studied parameters considered with different lags. Results showed that the most significant parameters for the development of the payment card infrastructure were the level of provision with POS terminals and the share of non-cash transactions. Their correlation with the economic development indicators reached 0.97. Up to the stage when the volume of non-cash payments by cards reached 5% of GDP, the impact of the BPC market on the change in the level of economic development had been insignificant according to the general idea. The development of the economy up to that point stimulated the development of the BPC market. Subsequently, the BPC market that was already sufficiently developed became one of the drivers aimed at the development of non-financial sectors of the Ukrainian economy after overcoming the 5% GDP level.

Evolution of accounting and information systems in cashless payments

Introduction. Digitalization of the market economy creates conditions for minimizing cash payments. The abandonment from cash payments is justified by positive trends in: distancing e-commerce, the use of cashless payment systems and pandemic changes in socio-economic processes. Changes in the cash payments methods require the introduction of accounting and information systems for electronic recording of money operations, accounting and reporting of payment transactions, guarantees for the safety and control of cashless money.Purpose. The aim of the article is to research the evolution of accounting and information systems in the implementation of cashless payments in international and domestic markets for payment services, theoretical justification of the definition of «cashless payments» and develop proposals for their streamlining.Method. Methods of scientific research are: systematic approach to the study of economic processes, elements of the theory of scientific knowledge, dialectical method to determine the essence of cashless payments; historical - to research the evolution of cashless payments; analytical - to assess modern information systems for the organization and accounting of cashless payments.Results. The research of the cashless payments evolution shown the permanence changes in the methods of conducting money transactions. The accounting and information system of enterprises and corporations must timely respond on innovative transformations. The article improves and regulates the elements of the conceptual apparatus for cashless payments using bank payment cards, electronic money and other modern payment methods for the developing of their registration and reflection in accounting and reporting. Perspectives. Technological progress and the COVID-19 pandemic have become the driving force of society’s transition to expanding the cashless payment regime. Technologies for remote banking and non-banking payment systems are permanently improving. Accounting and information systems for providing complete and objective information to business and society should be in line with this progress.

Міжнародний досвід розвитку ринку платіжних карток і проблеми функціонування платіжних карток в Україні

Cash, payment systems and instruments in modern conditions are the basis of the economy and life of each country, ensuring the possibility of exchange between the owners of certain goods or services, which, in turn, is one of the main conditions for the existence of credit and the State. The presence of a bank payment card gives its owner a number of advantages, including convenience during the calculation, reliability of saving the own funds, paying bills online. Bank payment cards are effective and profitable for all participants of the payment system, as evidenced by their rapid spread. For banking institutions, such operations bring profit in the form of commission income from servicing card accounts, accomplished transactions, as well as from an increase in the number of customers through the provision of new services, reducing the bank’s costs for servicing cash, etc. Bank payment cards are one of the most progressive tools for providing banking services. In the circumstances of the unstable situation in the financial market because of the hostilities on the territory of Ukraine, the coronavirus epidemic, the lack of financial resources, it becomes extremely necessary to expand and improve cashless payments due to the introduction of innovations in the payment card market. The article is aimed at summarizing the problems with functioning and development of the payment card market in Ukraine, along with the possibilities of using international experience to solve them. The article defines the advantages and disadvantages of practical use of payment cards in the financial market of Ukraine. Taking into account the mentioned shortcomings in the use of bank payment cards in non-cash payments, factors that hamper the development of the domestic payment card market are identified. The results of the study of the development of the payment card market allowed to outline the main problems of using payment cards in Ukraine. The ways of their solution are proposed and substantiated. International experience in the development of the payment card market is studied and analyzed

The Development and Transformation of the Bank Card Market as an Imperative for Digitalization: the Case of Central and Eastern European Countries

The purpose of this study is to determine the development trends of the major determinants of the bank card market in eight countries of Central and Eastern Europe in the period from 2010 to 2019. Continuing a study carried out in 2018, further comparative analysis of the “Bank Cards Market Index” proposed earlier and based on a system of interrelated indicators of bank payment cards, ATMs and POS‑terminals, was carried out. We provide an overview of the rankings of Ukraine, Belarus, Moldova, Russia, Romania, Poland, Hungary, Slovakia using international ranking systems such as “The Legatum Prosperity Index,” “Doing Business,” “The Index of Economic Freedom,” and the “Вank Cards Market Index.” Further studies of three international ranking systems, as well as the “Bank Cards Market Index,” again confirmed the similarity of the development models of the bank card market in Poland and Ukraine. To study the impact of the digitalization of economics and Covid–19 on the bank card market, a deeper analysis of two cases (Poland and Ukraine, as two similar bank card markets) was carried out using the “Digital Evolution Index.” In the course of the research, it was concluded that the “Вank Cards Market Index” can be successfully used for further research of the banking sector of different countries. Also, the growth trend of cashless payments in the bank card market and the possible transformation of the market under the influence of Covid–19, and the global digitalization of economics were noticed. Taking into account the above trend, further studies of the system of interrelated indicators of bank payment cards, ATMs, and POS terminals should be carried out using the “Digital Evolution Index” or other international indexes that characterize the level of digitalization of the economy in the researched countries.

Cryptocurrency as a secondary form of manifestation of finance virtualization

Object: Object of the paper is to develop theoretical principles that reveal the content, functions and role of cryptocurrency as new, quite controversial means of settlements appeared in digital society. Cryptocurrency is studied as a secondary form of finance virtualization. The investigation is directed on cryptocurrency’s theoretical and practical aspects of functioning.Methods: The investigation used statistical and economic-mathematical methods to analyze the current trend of development in bank and non-bank payment systems. The authors collected data about legal status of cryptocurrencies, then the obtained data was analyzed according to its official status in developed and developing countries.Findings: It was found that the biggest non-bank electronic payment system PayPal, as a secondary form of virtualization manifestation it currently shows higher growth of rate than the biggest bank card payment system — VISA. The position of cryptocurrencies in National Legal Systems of developed and developing countries was collected and analyzed, according to its legal status. The possible risks and controversial questions of cryptocurrency’s influence on price stability, stability of payment and financial systems are determined.Conclusions: Emergence of cryptocurrency in modern society is the evidence of global digitalization. Virtualization in its primary and secondary manifestation form affects financial sector. Secondary form of virtualization results in non-bank sector development, namely non-bank electronic payment systems (e.g., PayPal) and non-institutional digital schemes of settlements (cryptocurrency). Developed countries are mostly more progressive in cryptocurrency regulation than developing countries. In the case of global cryptocurrency spreading wide there are some risks national economies may face. They include the problem of price stability, the stability of the financial system, the stability of payment systems. Generally, the authors substantiate the requirement for search of the complete definition of cryptocurrency that may be integrated into national legal system for further regulation and risks controlling.

Documenting the Purchase of Fuels and Lubricants by the Enterprise

The order of documentation of operations on receipt of fuels and lubricants to the enterprise as a result of their acquisition through stationary points on production sites and through third-party gas stations with various forms of calculations is defined. It is found that companies receive fuel and lubricants on the basis of agreements concluded with gas stations, which indicate the brand, type of fuel, its price, the moment of transfer of ownership, method of receipt, place of receipt of fuel. It is established that the implementation and reflection in the accounting of the purchase of fuels and lubricants is influenced by the method of refueling – through gas stations or stationary points at the production sites of the enterprise. Documenting the refueling of motor vehicles through stationary points at the production sites of the enterprise is similar to the registration of the movement of inventories. Documenting the refueling of motor vehicles through gas stations depends on the type of payment (cash or non-cash) and their form (information, coupons, fuel cards). It is reported when purchasing fuel and lubricants by cashless payment without the use of coupons for the release of fuel at the gas station. The peculiarity of the release of fuel on coupons is the restriction of their validity for a certain period. It is established that the modern means of payment for purchased fuel are liter and cash fuel cards, as well as bank payment cards. The authors developed document flow schemes for operations on the receipt of fuel and lubricants when refueling vehicles through stationary points at the production sites of the enterprise and through third-party gas stations in the case of information, coupons, fuel cash and liter cards can be used to improve the accounting of fuel and lubricants at the enterprise.

ОЦІНОЧНІ ПОКАЗНИКИ СТАНУ РОЗВИТКУ КЛІЄНТСЬКОЇ БАЗИ РИНКУ ЕЛЕКТРОННИХ ЗАСОБІВ ПЛАТЕЖУ В УКРАЇНІ

As a result of the rapid development of IT technologies, a new stage of development of the financial services market has begun, which is characterized by extremely high dynamics of financial flows. In Ukraine, an integral part of the development strategy of banking and other credit and financial institutions was the development and implementation of high-tech financial instruments and products to dynamically develop the domestic financial services market and ensure financial flow management in e-business systems, especially electronic payment market. The high dynamics of the payment card market is due to the fact that since 2000 the popularity of electronic payment instruments in Ukraine has grown rapidly due to the convenience and efficiency of their use by consumers, and close connection with the development of the relevant infrastructure. However, since 2015, due to the occupation of Crimea and Donbass by the Russian Federation, as well as the beginning of the reform of the banking system of Ukraine, the number of banks participating in payment systems has decreased, primarily due to loss of territory and reduction in the number of banks and the number of electronic payment holders. The same dynamics was observed for electronic means of payment in circulation. The development of the market of electronic payment systems and their instruments in Ukraine was influenced by a number of factors, in particular transactions with bank payment cards, are extremely profitable for banks, because, on the one hand, expand the range of bank services, making it more attractive to customers; on the other hand they are a powerful source of resources in both foreign and national currencies, and provides intensification of the bank's activities, which ultimately leads to a reduction in the bank's costs, primarily for staff salaries and rent. An important factor hindering the development of electronic payments in Ukraine is the high level of cash use in payments in the country's economy. Keywords: plastic card, electronic payment means, banks which are the participants of card payment systems, operations with payment cards, indicators of the electronic payment means market

ПРОГРАМИ ЛОЯЛЬНОСТІ УКРАЇНСЬКИХ БАНКІВ: АНАЛІЗ І ПЕРСПЕКТИВИ РОЗВИТКУ

In recent years, a variety of loyalty programs have been promoted among clients in the banking services market. The high level of competition, the rapid development of digital technologies and other factors encourage banks to actively promote such programs. The choice by the bank of a specific or complex loyalty program depends on the goals determined by the management of the financial institution. The purpose of the article is to study loyalty programs of leading Ukrainian banks, to determine the main goals for the achievement of which such programs are introduced, to determine the basic requirements for bank loyalty programs, to group loyalty programs according to certain criteria. The article analyzes the main components of the loyalty programs of the leading Ukrainian state and private banks. The most extensive and accessible for clients is the Monobank loyalty program. It has been established that the loyalty program is chosen by the bank depending on the goals set for itself by the financial institution. Such a goal may be to increase profits or other specific goals – to increase the customer base, promote a particular banking product, increase competitiveness, etc. The analysis of the existing bank loyalty programs made it possible to determine the main characteristics and formulate general requirements for them. It was found that the simplicity of the formulation of the basic concepts and the application algorithm makes such programs more efficient and effective. It was determined that the programs offered by the banks of Ukraine, despite their different names and conditions of use, are quite similar, which allows them to be grouped according to certain criteria. It has been established that loyalty programs associated with the use of bank payment cards are funded by the interchanging commission, the amount of which will decrease over the next years, which will lead to a change in the types and percentages of profitability for certain programs. Consequently, it is predicted that gradual changes will be introduced in the use of loyalty programs, in the form of selective client access to these programs, reduction of the duration of individual programs and the popularization of non-material programs.

Brend i pravna zaštita kao preduslova uspešnog poslovanja

Product labeling has been carried out since the market existed, and the two main functions from the very beginning were to show the origin of the product and guarantee quality. A trademark or symbol serves to protect manufacturers and consumers from possible false substitutions, as a sign of differentiation from the same or similar products, and is a guarantee of quality. Technologies undoubtedly bring us numerous improvements. However, numerous studies show that digital piracy and the damage it does to the economies of many countries is very great. It is estimated that almost a million victims are reported worldwide each year, or 12 victims per second, a figure that speaks to the seriousness of the problem and the need for perpetrators to be prosecuted. The abuses are massive, and the instruments are the Internet, global social and computer networks, piracy, counterfeiting brands, misuse of bank payment cards, and many others. There are many ways to fight high-tech crime and brand piracy, and top experts in the field of IT and computers, special teams and legislation are engaged in that fight.

CYBER OFFENSE AS A THREAT TO ECONOMIC SECURITY OF UKRAINE

Purpose: the objective factors arising from the specificity of cybercrime, threats and their negative impact on the economic security of the state are considered, criminal offenses in the field of bank payment cards are characterized, features that distinguish cybercrime from other criminal offenses, the definition of «cybercrime» a cyber security system that must be based on certain principles, objects and entities that provide it. Methods: the study was conducted using methods such as analysis, synthesis, comparison. Results: it is concluded that cybercrime poses a threat to Ukraine’s economic security, so measures are taken at the legislative level to prevent and counteract such manifestations. Discussion: cybersecurity issues and prevention of cybercrime in the economic sphere. The widespread use of modern information technology in economic relations puts the solution of problems of economic security of society in the first place. Currently, the number of offenses committed in the industry is increasing in proportion to the number of users of computer networks. Such growth is an inevitable process for both the development of information technology and the improvement of the professionalism of offenders in the sphere of economic relations. In Ukraine, measures are being put in place at the legislative level to ensure cybersecurity in all spheres of society, including in the economic sphere. The manifestations of criminal use of high information technologies in the economic security of society is one of the main directions of counteracting cybercrime in the country. Cybersecurity should be an ongoing process for the activities of relevant government agencies to prevent and counteract cyberspace threats to Ukraine. It should be based on the principles of: the rule of law; ensuring the balance of rights and interests of a person, citizen, state; interaction between government agencies and the public. On the basis of the foregoing, we propose to identify cybercrime in the field of economic security as a system of cybercrime that encroaches on vital public relations in the economic sphere using computer systems and computer technologies.

Comprehensive use of identification technologies and distributed ledger technology for the development of electronic services provided through multi-purpose smart documents

The article covers the possibilities of comprehensive use of identification technologies and Distributed Ledger Technology (DLT) for increasing the efficiency of electronic services provided through multi-purpose student cards. The main advantages and disadvantages of the existing intellectual document emission systems in the Belarusian education system are assessed, including: centralized (the “Student Card” project) and decentralized (the electronic student card) ones. The proposal to use the DLT-model for issuing multi-purpose electronic student cards combined with bank payment cards has been grounded. Such model makes it possible to implement new functional capabilities when providing electronic services and has a number of advantages over the existing systems of electronic student documents issuance. The article describes how Public Blockchain and Private Blockchain can be used to issue and control intellectual documents, to accelerate the development of the electronic services provided through Smart Contract, and how the Smart Contract technology can be used to promote fair competition among electronic services providers. The methodology of evaluating the electronic services provider rating basing on the weighting factor of “usefulness” or “being in demand” is proposed. The article provides information on the expected effects of the proposed DLT-model implementation, obtained through the comprehensive use of identification technologies and distributed ledger technology.

EXPERT-CRIMINAL PROVIDING PROCESS OF INVESTIGATION OF STORES INVOLVED IN USE OF BANK PAYMENT CARD

The concept, legal support, significance and procedure of forensic examination in the investigation of fraud committed with the use of bank payment cards are analyzed. The value of the technical and forensic expert research of bank payment cards is determined. The knowledge of objects of forensic examination of bank payment cards is noted. The article notes the importance of the examination of electronic signature in these cases. The order of appointment of forensic accounting examinations in the investigation of fraud committed with the use of bank payment cards is analyzed. The objects of expertise here are the primary documents and financial statements. The importance of the expert’s conclusion as a source of evidence in the investigation of fraudulent use of bank payment cards is analyzed. Key words: fraud, bank payment cards, document, forensic accounting expertise, software and technical expertise.

Види шахрайства з банківськими картками та способи протидії їх проявам

The article analyzes the current state of fraud committed with the use of bank payment cards, justifies the need to improve ways to counteract its manifestations in modern conditions. A brief description of the main types of fraud with bank cards is given. Possible ways of preventing crimes connected with fraudulent actions in the banking system are offered. The authors concluded that fraud with bank cards has significant negative consequences for the stability of the financial system, since it impedes the proliferation of cashless forms of payment, which is a recognized priority of the development of the world financial system. According to the results of the study, it is suggested that justified priority measures to prevent the commission of crimes related to fraudulent actions in the banking system should be considered.

Аспекти запобігання правопорушенням у сфері використання банківських платіжних карток під час проведення безконтактних й інтернет-платежів та їх кваліфікація

Аспекти запобігання правопорушенням у сфері використання банківських платіжних карток під час проведення безконтактних й інтернет-платежів та їх кваліфікація

Analysis of the security system in the field of Internet - payments using payment cards

The main ways to protect money held on bank payment cards when making Internet payment were analyzed. A number of certificates and licenses were also analyzed, providing guarantees to customers of sites from which purchases using payment cards are made; an assessment of the effectiveness of existing methods has been made and new ways of implementing bank card security in the process of Internet payments using payment cards have been proposed.

The Bank Card Market: a Comparative Analysis of Ukraine and its Neighboring Countries

The purpose of this study is to define the major determinants of the bank card market to investigate the banking sector of different countries. Using three models of ranking, we discuss what can be used to rank the financial market and how it translates into the ranking of the bank card market. We use comparative analysis to verify our assumption, referring to a total of 8 countries: Ukraine and its neighboring countries. Afterward, we conduct a more in‑depth analysis of two cases (Poland and Ukraine) as two similar bank card markets. The research question is founded on the assumption that for a comparative analysis, it is necessary to use a system of interrelated indicators of bank payment cards, ATMs and POS terminals as the explicative variables.

A METHODOLOGICAL FRAMEWORK FOR MEASURING THE LEVEL OF CONVENIENCE OF TRANSPORT TICKETING SYSTEMS

Public transport sustainability is becoming a major driver for public transport development. Public transport ridership represents one of the key performance indicators of sustainability in the sense of balancing the economic, social and environmental aspects of public transport. There are various methods for improving the attractiveness of public transport for passengers by reducing resistances, which discourage potential and existing passengers to use public transport. Transport ticketing is one of the methods. This article presents a methodological framework for evaluating transport ticketing technologies with the use of a transport ticketing convenience model developed by the authors as well as some survey results through the application of the developed framework on traditional smart ticketing and contactless payment card ticketing technologies. First, a methodological framework for modelling ticketing convenience based on end-to-end passenger experience is presented. Second, a ticketing convenience model for barrier-free and double-sided validation baseline ticketing systems is developed. Third, the ticketing system based on contactless bank payment cards is compared with traditional smart ticketing systems in terms of convenience. It is shown that a contactless payment cards ticketing system has greater convenience or a better, more seamless travel experience than traditional smart systems. Finally, some research perspectives on enhancing the ticketing convenience model by using mobile smartphones with NFC, BLE and GPS technology, as well as the inclusion of technologies related to ticketing such as passenger information systems into the model, are contemplated.