Debit Card Payments Research Articles

Pertanggungjawaban Hukum dalam Perjanjian Kredit Perbankan terhadap Debitur Wanprestasi

Humans are social creatures who depend on mutual assistance to achieve their goals. Effective communication is essential to convey one's thoughts and emotions to others. Relationships can also form between individuals and financial institutions such as banks, where individuals have the opportunity to request loans and credit. However, borrowers often fail to fulfill their obligations and as a result face fines for late payments. The lack of self-confidence resulting from these lies makes it more difficult for a person to face the legal consequences of their actions. This investigation focuses on the legal consequences of bank credit agreements and the legal obligations that arise if the debtor fails to pay. This article seeks to provide a thoughtful explanation of the procedures required in recovering a failed debit transaction and the legal obligations that arise as a consequence. The research methodology used is a combination of a normative juridical approach and descriptive elements. The findings of this research are based on legal interpretations of banking laws and the legal responsibilities involved in resolving issues related to failed debit card payments. Mediation is an alternative to direct negotiations between disputing parties, which aims to facilitate resolution. If the mediation process is unsuccessful in resolving the dispute, the next action is to hand the case over to a judge to be resolved according to the agreement between the parties.

Analysis on Role of E-Commerce in Reducing Operational Cost

E-commerce means electronic commerce. E-commerce involves carrying on a business with help of the internet and by using the information technology like Electronic Data Interchange (EDI). E-commerce relates to a websites of the vendor on the internet, who trades products or services directly to the customer from the portal. The portal uses a digital shopping cart or digital basket system and allows payment through credit, debit card or EFT (Electronic fund transfer) payments.

Factors Affecting MSMEs in Using QRIS and Electronic Data Capture (EDC) as a Cashless Payment Method: Evidence from Sorong City, Southwest Papua

Rapid progress has been made in the development of cashless payment systems. As can be seen from the positive level of public acceptance of this payment method development standard, moreover this trend has become necessary for rural communities. QRIS and debit card payment via EDC are the non-cash methods that MSMEs players in Sorong city utilize the most frequently. Sorong city is quite developed province of Southwest Papua Indonesia, which is well regarded as a commercial and industrial hub. According to reports as of January 2022, the use of QRIS by merchants in the Sorong city itself has not met the target set by Bank Indonesia. This research aims to examine the variables that affect MSMEs players decision to use QRIS and EDC for cashless transactions. In this quantitative research, the variables predictor used are the extended Technology Acceptance Model (TAM) by Davis, with are perceived risk as X1, perceived ease of use as X2, and perceived usefulness as X3. Convenience sampling was the sampling technique utilized, with questionnaires distributed to the 60 MSMEs players throughout Sorong city. Multiple linear regression analysis is used to determine the significance relationship between predictor variables and response variable. The findings demonstrate that there is significant relationship between perceived ease of use and perceived usefulness on the decision of MSMEs players to use QRIS and EDC for cashless payments in their businesses, while the usage decision not significantly affected by the variable of perceived risk. The research's empirical evidences are expected to increase local business literacy and provide a reference for the government and policymakers who make rules about cashless payment systems.

Author Correction to: Evaluating the environmental impact of debit card payments

Author Correction to: Evaluating the environmental impact of debit card payments

MOBILE WALLETS AND CONSUMER SPENDING IN SINGAPORE: AGARWAL et al. REVISITED

Agarwal et al. ( 2019 ). Mobile wallet and entrepreneurial growth. AEA Papers and Proceedings, 109, 48–53 analyze the impact of the introduction of quick response (QR) codes for mobile payments in Singapore. They find that this not only resulted in a significant increase in the use of mobile wallets, but that there was also a positive spillover effect on debit and credit card payments — in particular at small and new businesses. This note argues that the increase in card sales cannot have been driven by the QR code technology. I also proffer an alternative explanation, namely, that Agarwal et al. simply capture the concurrent increase in popularity of contactless cards.

Explore the Short Video's Technology in E-commerce in India

In this paper, there is description of videos technology has been used widely as well as tried to explore the transform in the structure of selling as well as buying of the product mainly in short videos. With the emergence of the Internet, online procedure are replacing conventional models in our society. Even so, not many recognize the criticality required in E-commerce industry. Video commerce is the next great thing of marketing. It connects to a web page of a dealer selling or giving services rightly from its portal to the consumers. They use a digital shopping cart structure and permit payment by credit card, debit card or electronic fund transfer payments. The E- commerce services helps in decreasing costs in managing orders while also interacting with a broad range of suppliers as well as trading partners. It also requires any type of business transaction in which the parties interconnect electronically rather than by physical exchanges or direct physical contact.

СТАТИСТИЧНИЙ АНАЛІЗ РОЗВИТКУ СВІТОВОГО РИНКУ ЕЛЕКТРОННОЇ ТОРГІВЛІ

Nowadays e-commerce develops rapidly. Volumes of online sales grow globally. E-commerce forms a separate sector of the economy. Moreover, e-commerce is at the peak of its popularity. The article aims to analyze the development of the e-commerce market worldwide and to identify the further prospects of its development. The article analyzes the world e-commerce market. The volumes of products online-sales in the dynamics since 2014 are determined. The volumes of sales in the e-commerce market by regions of the world are studied. The largest one is the Asia-Pacific region. It accounts for 62.6% of all e-commerce sales. It is followed by the North American region (19.1% of all global e-commerce sales) and the Western Europe region (12.7% of all global e-commerce sales). It is established that global sales figures are significantly influenced by China and the United States of America. These countries rank the first and the second places responsively in the world in terms of products’ sales in the e-commerce market. Similar indicators for the European e-commerce market are analyzed. The dynamics of the growth of online shoppers in different European countries are determined. The payment methods that online shoppers use most often are highlighted. The most popular methods in many countries are debit and credit card payments. Nevertheless, German online shoppers prefer ELV payments, and online shoppers from the Netherlands choose IDEAL. The most popular categories of online products are small appliances, books, clothing and shoes, computers and accessories, tickets. People like to buy online products at lower prices and universe products. The reason is that the target audience of universe products is not limited by age, body composition, psychological complexes, and other factors that can potentially reduce interest in the products. The results of this study determine the expediency and perspective directions of world e-commerce development.

Cashless Payment Policy and Its Effects on Economic Growth of India

The present world has moved from cash transactions to cashless transactions. This article examines the impact of implementation of a cashless payment policy on economic development and gradual transition to a cashless economy in India. For this study, the focus is on the time period from 2010 to 2018. The data used for this study are tele transfer, through credit or debit card payment, check payment, and E-money on Indian economic growth. The study has employed the panel vector error correction model, Padroni residual cointegration, and the hypothetical prototypical method. The results show that customers and sellers accept a cashless system policy. In the short period, we have a causality model running from a card system to a check payment and telegraphic transfer system, and a causality model running from a telegraphic payment system to a card payment system. In the long period, there is a positive outcome in using a cashless policy on Indian economic growth. However, the use of a cashless policy on Indian economic development in the short term will be negative, whereas in the long term it will impact positively. Hence, any kind of economic strategy that endorses a cashless payment system cannot have positive impact on the economic development directly.

Cashless Payments and Economic Growth: Evidence from Selected OECD Countries

Abstract This study investigates the relationship between cashless payments and economic growth in selected OECD countries. Using annual data from 2007 to 2016, our results indicate that: Firstly, cashless payment stimulates economic growth in OECD countries. Specifically, the growth-enhancing effect is found in debit card payment while credit card, e-money and cheque payment have no impact on economic growth; Secondly, the positive relationship between economic growth and debit card payment is robust after controlling for the effect of endogeneity, omitted variable bias and outliers. Based on the findings, this study offers some imperative policy recommendations.

Quantum Technology for Economists

Research on quantum technology spans multiple disciplines: physics, computer science, engineering, and mathematics. The objective of this manuscript is to provide an accessible introduction to this emerging field for economists that is centered around quantum computing and quantum money. We proceed in three steps. First, we discuss basic concepts in quantum computing and quantum communication, assuming knowledge of linear algebra and statistics, but not of computer science or physics. This covers fundamental topics, such as qubits, superposition, entanglement, quantum circuits, oracles, and the no-cloning theorem. Second, we provide an overview of quantum money, an early invention of the quantum communication literature that has recently been partially implemented in an experimental setting. One form of quantum money offers the privacy and anonymity of physical cash, the option to transact without the involvement of a third party, and the efficiency and convenience of a debit card payment. Such features cannot be achieved in combination with any other form of money. Finally, we review all existing quantum speedups that have been identified for algorithms used to solve and estimate economic models. This includes function approximation, linear systems analysis, Monte Carlo simulation, matrix inversion, principal component analysis, linear regression, interpolation, numerical differentiation, and true random number generation. We also discuss the difficulty of achieving quantum speedups and comment on common misconceptions about what is achievable with quantum computing.

Payment services in the EU: price regulation to protect a duopoly

The EU Interchange Fee Regulation (‘IFR’) introduced price caps on the fees paid between banks in respect of credit and debit card payments. The Second Payment Services Directive (‘PSD2’) forces some payment schemes to open up their networks to any banks that want to use them. These rules, together with a wealth of related and ancillary provisions, are the legislative fallout from a series of antitrust investigations into Visa and Mastercard. But the rules are not limited to Visa and Mastercard, nor are they limited to schemes that operate in the same way as Visa and Mastercard. They extend to payment schemes with no interchange fees at all and with tiny market shares. One argument made for including all schemes within the scope of the rules was to create a level playing field for competition. Instead, regulation that was initially aimed at Visa and Mastercard has created high entry barriers and hamstrung the only realistic challengers to these four-party schemes. If rival schemes are unable to offer customers or merchants something different, all payment services will become commoditised. Without meaningful rivals, the duopoly of Visa and Mastercard will become more entrenched and customers will see a reduction in choice and innovation. The unintended consequence of the IFR and PSD2 could be to reduce competition in the market, the very thing they were originally designed to address.

The Role of Payment Cards as a Transaction Tool in Poland

Summary Subject and purpose of work: The article addresses the issue of the increasing use of payment cards in Poland and related consequences in the number and volume of transactions cash and cashless. The article analyzes the growing importance of cards as a transaction medium of Poles. The topic of potential alternative payment methods was also discussed. Materials and methods: The study used the analysis of literature and source data from, among others, National Bank of Poland, prnews.pl, Statista.com database, websites of banks and others. Descriptive and statistical methods were used in order to prepare the research. Results: In Poland, the number of cards owned by citizens is growing rapidly, as well as the volume and number of transactions concluded with them. Customers, banks and economic and commercial units are most interested in payment cards market. Conclusions: Transaction with cards deepens customer attachment to a particular brand of the organization and allows to gain benefit from transaction fees. The popularization of cards results in a limited share of cash in transactions. Making debit card payments requires customers to have sufficient deposits on the account, which is also an advantage for the bank. It is expected that the scope and role of mobile payments will grow dynamically.

Gauging the Impact of Payment System Innovations on Financial Intermediation: Novel Empirical Evidence from Indonesia

In this article, the relationship between innovations in the payment systems and financial intermediation is explored. By focusing on excess reserves and currency demand we provide evidence on the extant transmission mechanism. In this direction, a generalised method of moments (GMM) and vector error correction model (VECM) techniques are applied to a data set collated for Indonesia. We find that financial intermediation is affected by currency demand while we observe a limited role of excess reserves affecting financial intermediation. Credit card payments are found to have a statistically significant effect on currency demand, whereas debit card payments only influence financial intermediation in the long run. In addition, the real-time gross settlement (RTGS) exerts an upward pressure on excess reserves. The findings are of great importance as they provide support to policies that favour payment migration to an electronic platform, particularly that of card-based payment systems.JEL Classification: E42, E58, N25, G21

The short- and long-term impact of an incentive intervention on healthier eating: a quasi-experiment in primary- and secondary-school cafeterias in Brazil.

To assess the short- and long-term effectiveness of a lottery incentive intervention to promote the purchase of healthy products in school cafeterias. A quasi-experiment in which students' purchases in intervention schools were analysed in a pre-post analysis and also compared with a control school in a difference-in-differences model. A hierarchical linear model assessed the mean number of promoted healthy products purchased daily per participant before (twenty-six weekdays), during (nine weekdays) and after (twenty-eight weekdays) the intervention period. Sex, age and prior purchasing behaviour served as covariates. Convenience sample of school cafeterias using a debit-card payment method that allowed for the assessment of students' purchasing behaviour.ParticipantsStudents who used the pre-paid card to buy snacks at the school cafeteria. A total of 352 students (208 in intervention schools and 144 in control school) were included in the final analyses. The incentives programme significantly increased the purchase of promoted healthy products during (v. before) the intervention period in intervention schools (P<0·001), especially among younger children (P=0·036). Among the students who purchased the promoted healthier products during the intervention, there was an increase in total number of purchased products (healthy non-promoted, but also of less healthy products). Sex and past consumption behaviour did not influence the response to incentives in the short term. On average, no long-term effect was observed. Long-term and negative spillover effects must be taken into consideration for a complete understanding of the effects of incentives on healthier eating.

Evaluating the environmental impact of debit card payments

Consumers in the Netherlands made more than 3.2 billion debit card transactions at points-of-sale in 2015, corresponding to over half of all point-of-sale payments in that year. This study provides insights into the environmental impact of debit card transactions based on a life cycle assessment (LCA). In addition, it identifies several areas within the debit card payment chain where the environmental impact can be reduced. The debit card payment system can be divided into three subsystems: debit cards, payment terminals, and data centers used for transaction processing. Input data for all elements within each subsystem (manufacturing, transport, energy use, and disposal) were retrieved from interviews and literature study. Seven key companies and authorities within the debit card system such as the Dutch Payments Association, two banks, two data centers, one payment terminal producer and a recycling company contributed data. The analysis is conducted using SimaPro, the Ecoinvent 3.0 database and the ReCiPe endpoint (H) impact assessment method. One Dutch debit card transaction in 2015 is estimated to have an absolute environmental impact of 470 μPt. Within the process chain of a debit card transaction, the relative environmental impact of payment terminals is dominant, contributing 75% of the total impact. Terminal materials (37%) and terminal energy use (27%) are the largest contributors to this share, while the remaining impact comprises data center (11%) and debit card (15%) subsystems. For data centers, this impact mainly stems from their energy use. Finally, scenario analyses show that a significant decrease (44%) in the environmental impact of the entire debit card payment system could be achieved by stimulating the use of renewable energy in payment terminals and data centers, reducing the standby time of payment terminals and increasing the lifetimes of debit cards. For the first time, the environmental consequences of electronic card payment systems are evaluated. The total environmental impact of debit card transactions in the Netherlands is relatively modest compared to the impact of cash payments, which are the closest substitute of debit card payments at the point-of-sale. Scenario analysis indicates that the environmental impact can be reduced by 44%.

Cashless payments and tax evasion

Cashless payments hinder tax evasion because they build a trail for the underlying transactions. Using European data, we find empirical evidence supporting this claim: credit and debit card payments are negatively related to VAT evasion. We also find that using electronic cards to withdraw cash at ATMs, by making cash more abundant, fosters VAT evasion.

Survey Shortcuts? Evidence from a Payment Diary Survey

In this paper we examine the presence of panel conditioning in a payment diary survey studying the payment behavior of Dutch consumers. We analyze whether the reporting behavior of frequent participants in the payment survey systematically differs from that of less-frequent survey participants. We introduce refreshment groups that allow us to compare the reporting behavior of ‘trained’ and ‘fresh’ respondents, where the differences between reported values are used as a proxy for the panel conditioning effect. We find no consistent significant differences for the number and value of cash and debit card payments between trained and fresh respondents, for any demographic group, sector or transaction size. Likewise we find no consistent significant differences for the value of cash withdrawals between trained and fresh respondents. However we do find some signs of panel conditioning in the reported number of cash withdrawals.

Hip to be Square: Disruption in the U.S. Mobile Payment Market

Founded in San Francisco in 2009, Square finished 2012 as the darling of Silicon Valley; flush with more than $340 million in funding, the firm had grown to several hundred employees in just three short years. It processed more than $10 billion annually in credit and debit card payments from small business owners that used Square’s smartphone-enabled card swipe device wherever cellular or wireless Internet service was available.However, Square’s success had attracted new entrants into the mobile payments processing space, both in the United States and abroad, threatening to derail the company’s remarkable trajectory. With its latest financing round valuing the company in excess of $3.4 billion, management and investors were considering which strategies would continue—even accelerate—the company’s growthSquare presents an opportunity for classes in strategy and technology management to contemplate the following: How can a startup disrupt an established set of incumbents without provoking a harsh competitive response? How can a growth company in a rapidly changing industry expand beyond the core competency that fueled its initial growth? Which growth platforms make the most sense for a company in a complicated ecosystem with many players offering divergent solutions?

Evaluating the Environmental Impact of Debit Card Payments

Purpose: Consumers in the Netherlands made more than 3.2 billion debit card transactions at points-of-sale in 2015, corresponding to over half of all point-of-sale payments in that year. This study provides insights into the environmental impact of debit card transactions based on a life cycle assessment (LCA). In addition, it identifies several areas within the debit card payment chain where the environmental impact can be reduced. Methods: The debit card payment system can be divided into three subsystems: debit cards, payment terminals, and datacentres used for transaction processing. Input data for all elements within each subsystem (manufacturing, transport, energy use, and disposal) were retrieved from interviews and literature study. Seven key companies and authorities within the debit card system such as the Dutch Payments Association, two banks, two datacentres, one payment terminal producer and a recycling company contributed data. The analysis is conducted using SimaPro, the Ecoinvent 3.0 database and the ReCiPe endpoint (H) impact assessment method. Results and discussion: One Dutch debit card transaction in 2015 is estimated to have an absolute environmental impact of 470 µPt. Within the process chain of a debit card transaction, the relative environmental impact of payment terminals is dominant, contributing 75% of the total impact. Terminal materials (37%) and terminal energy use (27%) are the largest contributors to this share, while the remaining impact comprises datacentre (11%) and debit card (15%) subsystems. For datacentres, this impact mainly stems from their energy use. Finally, scenario analyses show that a significant decrease (44%) in the environmental impact of the entire debit card payment system could be achieved by stimulating the use of renewable energy in payment terminals and datacentres, reducing the standby time of payment terminals, and by increasing the lifetimes of debit cards. Conclusions: For the first time, the environmental consequences of electronic card payment systems are evaluated. The total environmental impact of debit card transactions in the Netherlands is relatively modest compared to the impact of cash payments, which are the closest substitute of debit card payments at the point-of-sale. Scenario analysis indicates that the environmental impact can be reduced by 44%.

A Compendious Study of Online Payment Systems: Past Developments, Present Impact, and Future Considerations

The advent of e-commerce together with the growth of the Internet promoted the digitisation of the payment process with the provision of various online payment methods like electronic cash, debit cards, credit cards, contactless payment, mobile wallets, etc. Besides, the services provided by mobile payment are gaining popularity day-by-day and are showing a transition by advancing towards a propitious future of speculative prospects in conjunction with the technological innovations. This paper is aimed at evaluating the present status and growth of online payment systems in worldwide markets and also takes a look at its future. In this paper, a comprehensive survey on all the aspects of electronic payment has been conducted after analysis of several research studies on online payment systems. Several online payment system services, the associated security issues and the future of such modes of payment have been analysed. This study also analyses the various factors that affect the adoption of online payment systems by consumers. Furthermore, there can be seen a huge growth in mobile payment methods globally beating both debit and credit card payments, all due to the convenience and security offered by them. Nevertheless, various obstacles have been identified in the adoption of online payment methods; thus, some measures have to be taken for granting this industry a hopeful future. Thus, there should be a suitable trade-off between usability and security when designing online payment systems in order to attract customers. Also, technical and organisational issues which arise in the attempt to achieve interoperability must be taken into consideration by the designers. As a matter of fact, the process of developing interoperable and flexible solutions and universal standards is one of the most difficult tasks in the future ahead.