Electronic Payment Technologies Research Articles

The mechanism of the impact of electronic payments technology on the sustainable development goals in Iraq. Realized Arab opportunities for the period (2017-2021)

The research dealt with a conceptual presentation of electronic payment technology, its means, types and characteristics , with an indication of the concept of sustainable development and the United Nations plan to achieve it during the period (2015-2030) , and a review and analysis of the mechanism of the impact of the adoption of electronic payments technology on the sustainable development plan and its objectives , and reference to indicators to measure the infrastructure supporting this technology , and then the research presents these indicators in (Iraq) and some Arab countries (UAE, Qatar and Bahrain) and then presents the development and economic opportunities resulting from the adoption of these technologies as a society and institutions in some countries of the Arab region that have succeeded in moving towards digitizing the sector Payments and comparing them to Iraq until (2021) , and the research reached a set of conclusions, the most important of which was that there are some determinants that work to deploy and expand ATMs and points of sale represented by the ability to meet local demand on the one hand , and the ability to overcome legal and regulatory obstacles to the deployment of these devices on the other hand, and the research also reached a number of recommendations, the most important of which is to encourage and strengthen cooperation between the public and private sectors to provide the financial and technical resources necessary to deploy and operate ATMs and points of sale in various Iraqi regions, and to facilitate and simplify licensing procedures and organize the operation of ATMs and points of sale in various Iraqi regions. ATMs and Points of Sale.

E-wallet Transaction Framework in Malaysia: An Evaluation of Potential Shariah Issues

The finance industry's rapid growth and technological advances have led to the emergence of e-wallets, an electronic payment method for goods or services without cash. So far in the Islamic finance industry, the use of e-wallets is still in its initial stages, and there is currently no guideline or regulation that governs its transactions. Therefore, this study aims to evaluate potential Shariah issues related to e-wallet transactions as practiced in Malaysia. A qualitative method was employed through content analysis, focusing on Touch 'n Go, GrabPay, and Boost as case studies. The findings highlight crucial Shariah issues surrounding e-wallet application by non-bank issuers, issues of trust account and credit card, and the granting of rewards in the e-wallet, including the transaction for a non-compliance item.The findings contribute significantly to policymakers in formulating Shariah parameter for e-wallet transactions, providing assurance to Muslim users and encouraging them to embrace electronic payment technology with confidence.

Security Vulnerabilities in Toll Collection System

Security vulnerabilities in toll collection systems can pose significant risks to the integrity of these systems. These vulnerabilities can include unauthorized access to sensitive information, tampering with electronic payment systems, and disruption of communication between vehicles and roadside infrastructure. Furthermore, the complexity of toll collection systems and the increasing reliance on electronic payment technologies introduce additional potential vulnerabilities. These vulnerabilities highlight the importance of implementing robust security measures to protect toll collection systems and ensure the privacy and safety of users.

Security Vulnerabilities in Toll Collection System

Security vulnerabilities in toll collection systems can pose significant risks to the integrity of these systems. These vulnerabilities can include unauthorized access to sensitive information, tampering with electronic payment systems, and disruption of communication between vehicles and roadside infrastructure. Furthermore, the complexity of toll collection systems and the increasing reliance on electronic payment technologies introduce additional potential vulnerabilities. These vulnerabilities highlight the importance of implementing robust security measures to protect toll collection systems and ensure the privacy and safety of users.

Electronic Payment Technology and Business Finance: A Randomized, Controlled Trial with Mobile Money

We conducted a randomized, controlled trial with small- and medium-sized enterprises in Kenya to estimate the causal impact of an electronic payment (e-payment) technology on business finance. Using an encouragement design, we exogenously increased e-payment usage among a random subset of firms by relaxing adoption transaction costs and information barriers. Sixteen months after the intervention, we find that the e-payment technology increased access to mobile loans (in the number of loans as well as in the amount borrowed) by at least 50% (0.17 standard deviation), likely because of the reduction of information asymmetries brought by an increase in digital transactions. We find no effect of the e-payment technology on sales and profits, but we do find a reduction of sales volatility and precautionary investment, especially for smaller firms. This suggests that mobile loans help smaller firms cope with short-term negative shocks. We provide a stylized model of business finance that rationalizes these findings. This paper was accepted by Bruno Biais, finance. Funding: This paper was produced under the framework of the “Enabling Innovation and Productivity Growth in Low Income Countries (EIP-LIC/PO5639)” project, funded by the Department for International Development (DFID) of the United Kingdom and implemented by Tilburg University. Supplemental Material: The data files and online appendix are available at https://doi.org/10.1287/mnsc.2023.4821 .

Digital Disruption in Healthcare and its Impact on Laboratory Services

Clinical laboratories provide critical information for the diagnosis and management of disease and receive and send data to multiple sites every day. Laboratories are knowledge managers. We shall discuss digitalisation and disruption. Digitalisation is the act of changing business processes through the use of digital technology. Disruption is a radical change to an existing industry; examples include Uber, Waze and Airbnb. In the case of digital disruption, the enablers include advancement in mobile consumer technology, sensor technology, increasing consumer familiarisation and acceptance of digital platform and mobile technology, electronic payment technology and internet availability and stability. We reviewed these concepts in healthcare, where consumers can reach out to healthcare professionals as and when required, using the power of technology and the internet. This concept’s ‘triple aim’ is a medical system that delivers high quality, accessible, and low-cost healthcare. Barriers to healthcare digital disruption include privacy, personal data protection, cybersecurity, medico-legal liability, licensing, costs, regulations, limits of non-touch consultation (lack of physical examination), and the reluctance of clinical professionals to be involved. In laboratory medicine, there are many examples of digitalisation including some that meet the definition of disruption including mobile phlebotomists, mobile point-of-care laboratories and home testing. Digital disruption has been a disrupter in many areas. There are many areas in laboratory medicine where digital disruption will occur such as electronic medical records, mobile phones, and wearables. The impact may be significant.

Mapping technological trajectories and exploring knowledge sources: A case study of E-payment technologies

Technology trajectory provides valuable information on technological development and its potential impact. This study takes E-Payment technology as an example by presenting the technological development trajectory, and by exploring the contribution of knowledge sources from different regions and various technical fields. In the process of technological trajectory evolution, different trajectory phenomena will appear in different periods, such as convergence, lock-in, and dominance in technological development. To find out the phenomenon of electronic payment technology trajectory, this study uses a patent database of the United States Patent and Trademark Office (USPTO) as a data source. It uses keywords to conduct a patent search, a patent citation data set is established, and the main path analysis (MPA) is performed. According to the research results, the E-payment industry technology is dominated by the United States from the country's patent ownership perspective. The combination of American Qualcomm and Firethorn Mobile has the key technology leading position on the main path of technological development. From the perspective of patentees, VISA and MasterCard have invested the most in technology R&D to show their leading position in future technology development. According to the main path analysis of patents, the research results showed that from the year 1983 to the year 2007, technology had developed diversified, and knowledge flow in related technical fields had already expanded. In the year 2008, technological development changed with technological fusion, and the technology was locked in. After 2013, a patent for “identity verification” on transaction security appeared on the key main path. After the emergence of this core patent technology, a technological explosion occurred. Various technologies developed rapidly during this period and had continued to occur so far. Since 2008, the number of patent announcements has been in a stage of high technological growth so it can be regarded as the growth stage of the technology life cycle. In addition to the main technical analysis, payment security is the core technology of the entire payment industry. Near-field communications (NFC) technology has the most critical development trend among the related technologies developed, followed by cloud computing-related technologies.

Analysing and forecasting the diffusion of electronic payments system in Nigeria

ABSTRACT The electronic payments system is among recent service innovations that have transformed access to finance in developing and emerging economies. This paper analyses and forecasts the diffusions of four major electronic payment technologies in Nigeria, namely, ATM, PoS, Mobile and Web payments. Diffusion was measured by the volume of financial payments transacted on these technologies. First, we applied two growth models to evaluate the diffusion and to forecast the future trajectories of these payment technologies. Second, we applied the logistics substitution model to evaluate how these technologies compete in the Nigerian payments market. The findings show that like many technological innovations the diffusions of electronic payment technologies are characterised by growth, maturity, saturation, and decline. In addition, the mobile payment system was forecast to emerge as the most diffused payment technology given the volume of financial exchange that will occur on this platform. These findings have implications for innovators, regulators and service providers within the Nigerian payment ecosystems. The findings also have practical implication for achieving the cashless economy and the financial inclusion projects of the Nigerian state which rely on the successful diffusions of these technologies.

The moderation effect of gender on accepting electronic payment technology: a study on United Arab Emirates consumers

Purpose This paper aims to investigate if perceived security, trust and perceived privacy affect both perceived usefulness and perceived ease of use. Also, the study explores if trust, perceived usefulness and perceived ease of use influence consumers’ intentions to use the e-payment system which is supported by testing the moderation effect of gender on the intention to use such systems in the higher education institutes. Design/methodology/approach In total, 850 participants from United Arab Emirates (UAE) universities have filled an online questionnaire prepared for these aims. The survey instrument is composed of 22 items. The primary data was used to test the study model, proposed constructs and the study hypotheses using the Smart PLS Software. Findings The research confirmed that perceived security, trust and perceived privacy affect both perceived usefulness and perceived ease of use. Also, the study found that trust, perceived usefulness and perceived ease of use have anticipated the significance of consumers’ intention to use e-payment system which is found also moderated by gender. Research outcomes indicated an important contribution towards the acceptance of e-payment systems and the common design of e-commerce systems. Originality/value Research outcomes have indicated an important contribution toward the acceptance of e-payment systems and the common design of e-commerce systems. Additionally, this study helped in increasing the reader’s understanding of various aspects of e-commerce, specifically consumers’ trust and privacy protection which consequently allows the online sellers to formulate appropriate strategies and actions imperative to serve the online purchasers and target the internet users.

The Factors that Determine Interest to Use of Mobile Payment: Study on the Students of Garut University, Indonesia

Abstract. Mobile payment is generally a payment tool in the form of software available in smartphones to make it easier for its users to make transactions anytime and anywhere his research aims to give empirical evidence of the influence of perceived ease of use, perceived usefulness, trust, and security on the interest in the use of mobile payment in Garut University students. We collect questionnaires from 100 students that are selected using the proportionate sampling method. The data is then analyzed using multiple linear regression. The analysis’ results show that both perceived of benefit and security variables partially has a positive effect while the perceived ease of use and trust has an insignificant effect on the interest in using mobile payments. This study provides an essential insight into how academic users in rural areas in Indonesia adopt electronic payment technologies. Keywords: Perceived ease of use, Perceived of usefulness, Trust, Security, Interests.

Electronic central bank cash: To be or not to be?

Increasing digitisation, developments in electronic payment technology — especially cryptocurrencies — and the declining use of paper cash are prompting discussions regarding the possibility of central banks launching electronic cash (e-cash). This paper discusses the expectations that e-cash would need to meet, from a user perspective, and argues that e-cash would need to have more in common with modern account-based electronic and mobile account payments than with traditional cash. Were central banks to launch e-cash, they would be in direct competition with private payment services. A successful e-cash service would therefore require a competitive edge over private electronic payment services. This would create a risk of market distortion for both payments and deposit services. Regulatory issues such as knowyour- customer requirements and account/transaction liabilities would play a major role in e-cash services. Central bank e-cash would have to fulfil the basic payment instrument requirements of a sufficiently large segment of the payments market.

E-Payment Technology Effect on Bank Performance in Emerging Economies–Evidence from Nigeria

The development of the financial sector has been a major growth driver in all economies, especially in emerging economies. Part of the financial innovations in the sector in recent times is the electronic payment system. Several studies in developed countries have substantiated the positive transformation of this financial innovation. This paper therefore contributes to this debate with three research innovations: first, it adopts a new measure of bank performance—the sortino index; second, it relates market risk exposure of banks to electronic payment technologies; and third, it controls for “without effects” of these innovations on bank performance using interacting dummies. Based on the time dimensional and panel least square models, it finds that bank performance increased after the adoption of electronic payment technologies. Finally, its findings show that bank performance contradicts autoregressive and random walk processes and thus implies that investors should not be disturbed about previous bank performances but concerned about current bank resources.

Aplicação de métodos multicritério ao problema de escolha de modelos de pagamento eletrônico por cartão de crédito

É crescente o uso de meios de pagamentos eletrônicos no sistema econômico. Este trabalho realiza um estudo que compara os resultados da aplicação de diferentes métodos de apoio multicritério à decisão (AMD) à avaliação das três tecnologias de pagamento eletrônico mais comumente utilizadas no Brasil. Para isso utiliza-se um conjunto de métodos: THOR (S1, S2 e S3), ELECTRE (I e II) e PROMETHÉE II. Os resultados da modelagem indicaram que não há uma prevalência significativa de uma alternativa, ou seja, uma tecnologia, sobre as outras. A adoção da abordagem multimétodos possibilitou uma análise de sensibilidade que fundamentou a escolha do decisor e possibilitou encontrar uma pequena vantagem de uma tecnologia. Entretanto, salientou ser essa vantagem mínima, o que ajuda a explicar a adoção dessas três tecnologias nos pagamentos eletrônicos.

A Framework on Internet Banking Services for the Rationalized Generations

The augmented Internet Banking Service is increasingly popular both in Bangladesh and elsewhere. This paper explores a predicted framework for global Internet Banking that emphasizes the transformative interaction among the effective customers around the regional, national and global banking indicating advanced on backend models, instructional strategies, and transaction technologies in the context on upcoming generations. We have to develop the framework on global enhanced transaction systems especially individual global account, effective online banking systems to fulfill the required method, implementing design and appraising the feedback with standard technology according to network topology for disseminating of global banking technological arena. Despite decades of development, electronic payments still need practical examples of how to use electronic payment technology within a uniqueness and rationalized way including global electronic transaction, language tools, currency converter and electronic workstation. This research focuses the major issues responsible for Internet Banking based on respondents’ perception through various internet applications. The author presents a theoretical framework for our represented method, taking into account previous models and characteristics of an effective Internet Banking Security. In addition, we illustrate the global technology that we have to expand and execute among the customers’ satisfaction within the expected model. We follow this with an evaluation of achievement, both in the global banking implementation and the amplitude framework according to periodical requirements. Finally, we focus highly developed research trajectories of the model and recommendations for how to further avail the internet banking subscribers to design more secure alternatives. JEL Classification Code:  G29

Electronic Funds and Benefits Transfers, E‐Government, and the Winter Commission

This article examines how electronic funds transfers and electronic benefit transfers have become integral components of digital government. These technologies have forwarded many of the principles of the Winter Commission, including the development of lean, responsive government. The greater efficiency and cost savings for the federal and most state governments have not been achieved without encountering and dealing with serious matters related to customer service, contracting, collaboration, management, and implementation. These issues arise in the normal daily use of electronic payment technologies, but they are magnified in crisis situations, as demonstrated by disaster relief operations during Hurricane Katrina.

Why Do Consumers Pay Bills Electronically? An Empirical Analysis

Although the checkless society has been predicted for decades, checks remain the most frequently used noncash payment method in the U.S., contrary to trends in a number of other countries. Despite the debate over why consumers do or do not adopt new payments technology, little is known about the subject. Given unsuccessful efforts to induce a shift away from checks, some industry observers have even suggested that consumers are irrationally wedded to their checks. As a result, the financial services industry faces significant uncertainty regarding potential investments in electronic bill payment technologies as well as in debit cards, smart cards, stored value, e-cash, check imaging, and check conversion technologies. The goal of this article is to provide some insight into the consumer's decision to use electronic payments technology - What factors influence this decision and what might financial industry leaders do to encourage greater numbers of consumers to make the transition to electronic payments? This article analyzes the extent to which various factors influence consumers' willingness to use electronic bill payment. I review the economic, marketing, consumer decisionmaking, and payments literatures. Then, I analyze a unique 1,300-person survey to evaluate the factors associated with usage of electronic bill payment. I find that several broad factors influence the consumer's preference for electronic bill payment:1) wealth; 2) personal preferences for control, convenience, incentives, personal involvement, and/or privacy; and 3) transaction-specific factors associated with different types of payments. I also find that certain demographic factors are significantly associated with the use of electronic bill payment services. My findings are consistent with new product adoption theories, supporting the idea that some consumer segments are natural first adopters of electronic bill payment services. However, while new product diffusion theories assume that consumers will begin to experiment and adopt innovations as they learn more about the product's features, my analysis suggests that fundamental consumer needs still must be addressed before a broader portion of consumers will adopt electronic bill payment services. As a result, I find that an important portion of consumers do not perceive checks and some electronic bill payment services as substitutes at this time. Some analysts suggest that many consumers are likely to remain reluctant to adopt new payment technologies. However, my analysis suggests that a larger fraction of consumers would adopt these new technologies if important product features such as error resolution, service level guarantees, customer service, the ability to make partial payments, and more convenient sign-up were bundled with electronic bill payment services. My results suggest that the next stage of migration towards electronic bill payment may depend more on firms' willingness to fund the development of these new product features than on overcoming consumer resistance to change. This article also highlights the need for policymakers to better understand the diversity of consumer preferences when considering public policy questions relating to consumer protection.

Why do stored value systems fail

Stored value systems are the most recent form of electronic payment technology. They are meant to coexist with credit and debit technology, by primarily targeting the low value area of the transaction market. Being targeted at low value transactions, they are designed to have very low transaction cost. Stored value systems rely on creating a form of electronic value, on smart cards or as computer files. Such value can be bought (withdrawn) at any one time, and spent in arbitrary fractions at later times. When the technology emerged for its first implementations in the first half of the 1990s, it was much celebrated as a replacement for cash with many benefits over existing payment technologies. Many of these systems have subsequently been set up as trials, and the commercial rollout of some systems has started. However, actual usage of stored value systems is still low, much lower than was expected by the operators of the systems. Several years after the first trials were implemented, it is still unclear whether and when they will play a relevant role in the payments system market. And none of the trials that have been run can be considered a commercial success. This makes it necessary not only to assess the technology, but also the commercial future and user uptake of these systems.