Electronic Wallets Research Articles

Topical Issues of Implementing E-Hrivnia

At the present stage of society development, the topical issues are changing the standards of economic relations and accelerating the development of the digital economy. The mechanisms for the implementation of banking payment systems are undergoing significant changes. In a number of states, pilot projects for the emission of digital state currencies are now in test mode. Experts are studying the problems of issuing digital money, and macroeconomic regulators are beginning to evaluate both positive expectations and negative results of using digital and information technologies when creating a new type of funds. It was concluded that the release of e-hryvnia into circulation, on the one hand, will make it possible to speed up and simplify the transfer of funds between the owners of electronic wallets, to increase the level of comfort in carrying out these operations, however, on the other hand, an increase in the number of cybercrimes should be expected, especially considering the lack of proper regulation of special legislative framework. The development of the national digital currency is a natural result of the digital society development, the growing influence of social platforms as well as the state's policy on creating a digital economy. One of the significant positive consequences of the development and implementation of the digital hryvnia is a decrease in the number of intermediaries in the implementation of cash payments, up to the complete exclusion of banking structures responsible for the transfer and processing of personal data, which leads to a decrease in costs, as well as to an increase in the speed of funds transfers, stabilization of the entire financial system and economic security of the country as a whole. The introduction of the concept of e-hryvnia will contribute to the formation of a highly developed technological society in Ukraine, as well as to the financial and technological integration of the general population. Cash tokenization is the next phase of digital transformation.

ANTECEDENTS: EASE OF USE, DISKON, RISK DAN WIDE ACCEPTABILITY TERHADAP KEPUASAN KONSUMEN DALAM PENGGUNAAN DOMPET DIGITAL

This study aims to analyze the effect of risk, ease of use, discount, and wide acceptability on satisfaction-mediated intention to use. The sampling method used is purposive sampling. This study took a sample of 331 respondents throughout Indonesia who use electronic wallets to conduct transactions in their daily life. The analytical method used to test the hypothesis in this study is Structural Equation Modeling (SEM). The results of this study indicate that there is a positive influence between ease of use, discount, risk, and wide acceptability on consumer satisfaction. Consumer satisfaction forms the intention to use.

Assessing resistance to accept electronic wallets in Egypt: تقييم مقاومة قبول المحافظ الإلكترونية في مصر

The purpose of this study is to determine the factors that obstruct the diffusion of electronic wallets in the Egyptian society. As there is great resistance to the use of electronic payment services provided by governmental and private banks, and the insistence of customers to use cash due to the many reasons that were discussed in the research. In spite of this, several countries such as Morocco, Algeria, Malaysia and India, as an example similar to the Egyptian example, have come forward and found many solutions to switch from cash to electronic payment. Nowadays, cell phones have become a fundamental piece of one's everyday life. Users would be able to utilize their Smartphones to make money transactions or online payments by using applications on their phones. There are many mobile wallets, which provide these types of services. Electronic wallets are computerized version of traditional wallets that somebody would carry in their pocket. They offer payment service through which the people/business can receive/send money by smart phones. The current paper highlights the factors that affect Egyptians’ consumer behavior towards electronic wallets, either directly or indirectly and the reasons behind rejecting the idea of replacing cash payments with electronic payments, despite, the global trend to reduce the use of cash especially in the current period of the Coronavirus pandemic. A recent statistic from the Central Bank of Egypt stated that 67% of Egyptians do not have bank accounts, this alarming statistic shows that Egyptians might be uncomfortable dealing with banks, this reflects the level of resistance that Electronic wallet services will face in building familiarity and acceptance with the Egyptian consumers. Through interviews and phone calls with a group of 48 executives and team leaders from government and private banks, in addition to 62 individuals from different age groups- who owned bank accounts in different banks- it was found that the age group from 20 to 40 are the most frequent users of electronic wallets and electronic payment services. Service quality emerged strongly during the study as a variable moderating the acceptance of electronic wallets by customers. Study also indicated that banks’ customers who had concerns about using the electronic wallet for other reasons including making a wrong transaction, refund period, mobile phone coverage when payment is required urgently and on top of this customers had safety concerns and problems dealing with mobile applications. According to 2024 expectations, there is an increase of more than 50% for users of e-wallets for bank account holders, however, through breading familiarity with the concept of electronic wallets and banks investment in a highly secured and user friendly applications percentage could go higher. Recommendations to increase the diffusion rate of e-wallets in the Egyptian society: - A planned and systematic awareness campaign introducing government’s efforts towards using electronic payment services. - Training of the section concerned with technical support to service electronic wallets in all banks to solve all customer problems easily and quickly, which in turn makes the customer satisfied with the service. - Simplifying and facilitating electronic payment applications on mobile phones to facilitate handling by elderly or low-education persons. - Motivating customers to use e-wallets through loyalty program and sales promotions.

Blockchain-Based Peer-to-Peer Energy Trading and Charging Payment System for Electric Vehicles

The world is moving rapidly from carbon-producing vehicles to green transportation systems. Electric vehicles (EV) are a big step towards a friendly mode of transport. With the constant rise in the number of electric vehicles, we need a widespread and seamless charging infrastructure that supports seamless charging and billing. Some users generate electricity using solar panels and charge their electric vehicles. In contrast, some use charging stations, and they pay for vehicle charging. This raises the question of trust and transparency. There are many countries where laws are not strictly enforced to prevent fraud in payment systems. One of the preeminent problems presently existing with any of the trading systems is the lack of transparency. The service provider can overcharge the customer. Blockchain is a modern-day solution that mitigates trust and privacy issues. We have proposed a peer-to-peer energy trading and charging payment system for electric vehicles based on blockchain technology. Users who have excess electricity which they can sell to the charging stations through smart contracts. Electric vehicle users can pay the charging bills through electronic wallets. We have developed the electric vehicle’s automatic-payment system using the open-source platform Hyperledger fabric. The proposed system will reduce human interaction and increase trust, transparency, and privacy among EV participants. We have analyzed the resource utilization and also performed average transaction latency and throughput evaluation. This system can be helpful for the policymakers of smart cities.

Модифікація моделі прийняття технології для користувачів електронних гаманців у Джакарті

Introduction. The development of mobile payment in Indonesia is increased, especially by the emergence of the two biggest electronic payments, such as Go-Pay and Ovo, which aggressively offer various interesting offers. This affects the enhancement of the use of mobile payment by the public. In the beginning, server-based electronic money services of its appearance were still small, including credit top-up and internet data, and money transfers to banks that include as a member of ATM Bersama (joint ATM). Along with the development of technology, electronic wallets begin to transform by expanding payment services, and several latest e-wallet applications have emerged. Purpose. The purpose of this research is to understand the changes in consumers’ behavior that make payments from using cash and switching to electronic wallets. Results. The results of the analysis in this study were obtained as the below: (1) Perceived ease of use, perceived usefulness, perceived security, and perceived risk and trust have an influence on the intention to use e-wallet electronic application; (2) perceived ease of use and perceived risk have an influence on perceived usefulness of e-wallet user and (3) perceived ease of use, perceived risk, and perceived usefulness influence the perceived trust of e-wallet application users. Conclusions. It can be concluded that the technology acceptance model influences the user in using the electronic wallet as their transaction method since its usage can be trusted. Moreover, the benefit they got from electronic wallet (perceived usefulness) influence their trust and increase the intention of using an electronic wallet

Online Retail Service Quality: Scale Development and Validation

The growth of online retailing has created an opportunity to create a scale specifically for online retail services. At the same time, the increasing rate of internet penetration in India coupled with electronic banking and wallets has formed new market place for many online retailers. In this context, to gain competitive advantage, the online retailers should provide better service quality. Thus, the present research tries to know the various constructs of retail service quality (RSQ) in online format and develop a measurement scale. The study has borrowed the constructs from ‘Retail Service Quality’ (RSQ) and ‘Technology Acceptance Model’ (TAM). For this purpose, we collected data from 600 respondents. The scale has been confirmed and validated by using CFA. The study confirmed that online RSQ (ORSQ) scale consists of four constructs: ‘Ease of Use’, ‘Problem Solving’, ‘Policy’ and ‘Reliability’ with 18 variables. The article has concluded and validated a scale for ORSQ which can help the online retailers to design their service offering. The implications of the ORSQ scale for practitioners, as well as for future research, are discussed in this article.

Factors Influencing Customer Retention for Electronic Wallet Services in Malaysia

Customer retention is vital in sustaining a business, especially in the competitive FinTech market environment. Understanding these factors will provide business with critical strategic information for leveraging and sustaining their competitive advantage. Over a span of a decade there has been a surge of deployment of financial technology (FinTech) services in Malaysia, such as online banking, mobile payments and of recent years, electronic wallets. This profitable venture is highly competitive open to both banks and non-banks financial service providers. The purpose of this paper is to propose a conceptual framework to investigate the relationships of independent variables such as brand image, perceived price, perceived quality, and relationship marketing to customer retention. This aim is to develop an enhanced understanding on how these variables influence customer retention for e-wallet services. The study will also identify the most influential factors that drive customer retention on electronic wallet services in Malaysia. The study methodology will include descriptive and correlational analysis. The study population will be users of e-wallet services. A sample of 384 people from the city of Kuala Lumpur, Malaysia will be selected by using random sampling technique. Regression analysis will be conducted to assess the study hypothesis.

“The Impact Of Digital Wallets Threats And Safety Measures On The Level Of Usage” – A Study With Reference To Chennai

Digital wallet refers to an electronic system that enables a person to make purchases on a commodity or commodity class basis. It is a device that safely stores the payment details and password of consumers for the variety of payment methods and websites. The wallet may be Computer, Web, Smartphone or hardware wallets. Any payment by online format is subject to the limitations and threats of data security, which contribute to an increase in safety awareness of the use of information. Electronic wallets are used in the banking, investment, insurance, retail, educational, travel, entertainment and utility industries. The objective of this research study is to determine possible risks and safety measures for safer management of e-wallets and increased accessibility. An empiric research was performed by surveying 80 respondents and evaluating the data obtained by applying statistical methods such as one direction ANOVA, Matched t-test by using SPSS and Confirmatory multivariate statistical using Amos software. A simple structural equation modelling is often used to define a relationship between dependent and independent variables.

РОЗВИТОК ІНТЕРНЕТ-ТОРГІВЛІ В ЕПОХУ ЦИФРОВІЗАЦІЇ

The article clarifies the concept of e-commerce and its significance in the modern conditions of the digital economy. It is proposed to consider e-commerce in the modern digitalization environment as a special business model that is rapidly evolving, constantly modernized and has its own characteristics. It is established that business on the Internet should cover the following aspects: establishing contacts with the target audience of customers by attracting attention (advertising, bright site design, etc.), selling goods and services, ensuring full control over payment, delivery and after-sales service. The set of economic, social, electronic-technological, organizational-legal nature factors influencing the spread of e-commerce is generalized. More than ten types of business models suitable for e-commerce have been identified, among the main and most used of which are the following models: B2C – company-consumer; B2B – company-company; C2B – consumer-company; C2C – consumer-consumer. The modern tendencies of formation and development of Internet trade in the world and in Ukraine in the conditions of a viral pandemic are investigated. The factors that will affect the additional growth of online sales in Ukraine are listed in the order of their consideration, among which the following are highlighted: new buyers on the Internet; insulation at home; increase in the frequency of purchases in the month following the isolation; the transition of some people to remote work; growth of online sales of everyday goods; falling purchasing power and consumer activity in the market. Proposals for further development of e-commerce in Ukraine are substantiated, among which are: continued formation of communication and telecommunication infrastructure; revision and harmonization of the current regulatory framework in the field of e-commerce; stimulating the development of online applications for business; organization of events on teaching the Internet and information technology in business; conducting information and educational campaigns among citizens; promoting the development of the electronic money market and the promotion of electronic wallets, etc.

Challenges and Trends of Financial Technology (Fintech): A Systematic Literature Review

Digital transformation creates challenges in all industries and business sectors. The development of digital transformation has also clearly triggered the emergence of fintech (financial technology) initiatives, which are recognized as some of the most important innovations in the financial industry. These initiatives are developing rapidly, driven in part by the sharing economy, regulations, and information technology. However, research in the field of fintech remains in its infancy. Fintech offers several services, such as funding, payment (including electronic wallets), e-aggregators, e-trading, and e-insurance, and cryptocurrencies such as Bitcoin. This provides an opportunity to more closely examine fintech’s research challenges and trends. This study aims to (1) determine the state of the art of financial technology research; (2) identify gaps in the financial technology research field; and (3) identify challenges and trends for future research potential. The novel proposal in this study includes theoretical contributions regarding financial technology. Using the systematic literature review approach of Kitchenham, in addition to thematic analysis, meta-analysis and observation to validate the quality of literature and analysis, the results of this study provide a theoretical basis fintech research from an information systems perspective, including the formulation of fintech technology concepts and their development.

Integrating Dimension of Trust into the Theory of Planned Behavior: A Case Study of Electronic Wallet Amidst the Coronavirus Outbreak

This study proposes the integration of the dimension of trust within the theory of planned behavior (TPB) model in explaining electronic wallet adoption in Indonesia. The use of electronic wallets can get rid of the dominance of paper money and coins, which are a medium for spreading germs, as happened in the recent coronavirus outbreak. One hundred forty-six respondents filled out the questionnaire online. By using structural equation modeling, the dimension of trust was proven to positively influence customer intentions and strengthened the TPB model. The findings of this study indicated that customers pay attention to the service and security provided by the technology provider and their basic ability to trust the technology. Surprisingly, customers still pay less attention to the quality of digital infrastructure.

Electronic Wallet as a Payment Transaction Instrument

The purpose of this study is to see the effectiveness or efficiency of the use of wallets and electronic money as a means of payment. This research used a descriptive method by trying to offer and display various payment examples through electronic wallets as a transaction tool. The results show this payment method is so helpful that now consumers no longer have to carry a lot of money in their pockets to shopping. From these results, it can be seen that the electronic wallet method is suitable for use in the current digital era, with various conveniences offered in it.

Analysis of Electronic Wallets Use Patterns among Students in Online Transportation Services

This study is conducted to discover the impact and the use of electronic wallet (e-wallet) by students especially in online transportation service. This research used a comparative approach by comparing online transportation service users with conventional transportation service and the literature analysis method, interviews, and written surveys involving students in Bandung as respondents. The results of this study showed that students who used electronic wallets to pay for online transportation service were more able to control their expenses efficiently compare to students who use conventional transportation service and use conventional payment methods as well. Especially for students, using an electronic wallet in online transportation services is very helpful in the payment process.

Подходы к регулированию рынка электронных денег на пространстве ЕАЭС: сравнительный анализ

The goal of this paper is to identify relevant (general and particular) elements of electronic money regulation in Russia, Kyrgyzstan, Kazakhstan, Belarus and Armenia. For the purposes of comparative analysis, the paper first introduces the methodology by outlining such factors as the legal status of electronic money issuers (including prudential requirements), differentiation of customer due diligence requirements in e-money systems, e-wallet usage rules, and division between the issuing and e-money transfer functionalities. Second, these factors are analyzed for each country, based on current regulatory acts. Finally, synthetic conclusions regarding major regional trends for regulation of e-money as a financial service are made. In most countries, e-money issuers are subject to licensing for the purposes of financial stability. Yet, approaches to differentiating functions of e-money actors vary across countries: in some of them, regulation recognizes “e-money operators” which transfer e-money but do not issue it. However, actual effects of this differentiation merits additional research. Almost all countries have implemented remote (simplified) identification which underlines the role of e-money as a “simplified” product aimed at financial inclusion. All countries except the Republic of Belarus and the Kyrgyz Republic still recognize non-personified electronic wallets. The research confirms that electronic money is still a specific instrument aimed at supporting financial inclusion and satisfying demand for instant cashless payments. More research is required to assess the actual effects of different regulatory approaches on the development of the e-money market.

Present Prominence of the Electronic Wallets in India

In today's ever-changing technological dependent world, electronic wallets are in their early stages of development and expected to evolve in the coming years, yet, no one in the payment ecosystem knows precisely how the mobile electronic wallet marketplace will evolve in the coming years. It is estimated that Global electronic wallet transaction volumes will be about INR 41.8 billion in 2016. A digital or electronic wallet (e-wallet) as called, is basically a software that allows a user to make an electronic payment in cash or link it with their respective bank account making payments with ease be it for purchase of a prepaid mobile recharge, a train ticket or even a television. In India, the e-wallet is very useful as the convenience of not carrying physical cash is drastically reduced. Furthermore, the Central Government’s push for digital payments and a digital India is making inroads not only in the urban markets but, also in the rural hinterlands especially the prepaid wallets as mobile reach is far higher than Internet access. To a large extent, banks though physically present across thousands of towns pan India prefer and encourage digital payments for everyday transactions. This whitepaper explains the future capabilities of electronic wallets and the role they will play in India in the coming years..

IMPLEMENTASI ANALYTICAL HIERARCHY PROCESS (AHP) DALAM PEMILIHAN E-WALLET UNTUK MAHASISWA

Abstract: An electronic wallet is an electronic service to store the data of the payment instrument, such as a payment instrument using the card and/or electronic money, which can also accommodate the funds, to make the payment. The number of similar applications of electronic wallets available in Indonesia leads to confusion of which applications offer many advantages, easy to use and guaranteed transaction security. By using the Analytical Hierarchy Process (AHP) method to conduct research on three popular electronic wallet applications in Indonesia, especially among students, Dana, Go-Pay, and LinkAja. These three electronic wallet applications compare based on pre-defined criteria and sub criteria to be decided by the AHP calculation where Go-Pay is the best E-wallet Application for students to use

Comparative Analysis of Back-propagation Neural Network and K-Means Clustering Algorithm in Fraud Detection in Online Credit Card Transactions

The ubiquitous nature of the internet had been a major driving force of the digital transformation in our world today. It has necessarily become the main medium for conducting electronic commerce (e-commerce) and online transactions. With this development, various means of possible payment methods have also emerged, such as electronic cash/ cheques, debit/credit cards, and electronic wallets. However, debit/credit cards are by far the most common payment methods employed. As a result, different credit card fraud activities have rapidly increased all over the world and are still evolving. This menace has drawn a lot of research interest and a number of techniques, with special emphasis on Data Mining, Expert System and Machine Learning (ML), as a means of identifying fraudulent behaviors. This paper examines and investigates two ML algorithms trained on public online credit card datasets, to analyze and identify fraudulent transactions. The BPNN and the K-means clustering ML algorithms were designed and implemented using Python Programming Languages. It was determined that the BPNN has a much higher accuracy of 93.1% as compared to the K-means which has an accuracy of 79.9%. Other metrics used to evaluate their performance also shows that the BPNN algorithm outperformed K-means algorithm, while the low prediction time of K-means gave it an advantage over the BPNN.

Antecedents of electronic wallet adoption: a unified adoption based perspective on a demonetised economy

Electronic wallet has been a disruptive innovation in payments landscape. It has afforded convenience from remitters' perspective and transactional efficiency to the beneficiary. The gradually increasing significance of e-wallets warrants an exploration of antecedents leading to adoption of electronic wallets by the users. Digitising the payments assume enhanced importance in an economy where level of disposable household currency is reduced owing to sovereign policies. Present study employs UTAUT2 framework towards investigating the factors generating usage intentions for electronic wallet applications and the extent to which such intentions translate to final usage behaviour. Demonetised Indian economy constitutes the geographical base for the study, while respondents comprise of individuals possessing awareness and prior experience of electronic wallet usage. Structural equation modelling was applied to primary data gathered from 462 respondents. Findings reveal positive significant intention-based causations arising from five out the seven conceptualised constructs in a demonetised economic environment, while usage intentions were found to be significantly and positively translating to usage behaviour.

A Study on Security Issues and Privileges for Electronic Wallets

In this paper, I am going to discuss, the need of Security systems for Electronic Wallets, ATM’s which become a part of our regular lives. In present scenarios there is no specific security mechanism for physical machines, some of ATM cabins/rooms have entry detectors but maximum situation these methods are fail due to the policies of banks, such any bank card can use for transaction at any ATM’s, certain number of attempts, the verification and validations can be done twice in each and every entry, (ones for door detector and second is transaction of a process) the Execution time of a process increases, obviously it will reflect on time complexity. So to provide security for physical machine by using the GSM/GPS [9] module connected to ATM machine which can use to trace the current location of the Machine is read and it sent through message to the server or a control room, by which it is possible to provide security for physical Attack on Machines. As result we can reduce the thefts and misusing’s.

Follow the money: using payment behaviour as predictor for future self-exclusion

Behavioural tracking is an increasingly discussed method of early detection of potential gambling-related problems. Recent research has focused predominantly on information derived from gambling transactions and communication logs. Even though payment behaviour establishes a direct link to the financial consequences of gambling, it had thus far not become subject to this field of research. This article uses transactional data generated by 2696 customers from the online gambling label bwin.com to investigate how far specific payment behaviours and specific payment methods enable a prospective differentiation between self-excluders and controls. The number and amount of deposits, the variance of withdrawals, the amount of funds subject to reversed withdrawals and the usage of mobile phone billing were found to be positively associated with self-exclusion; the number of active gambling months and the usage of electronic wallets and prepaid cards negatively. Customer age displayed a U-shaped relation, with customers of below and above average being stronger associated with self-exclusion. However, it must be noted that the validity of the resulting predictive model derived from payment data is lower than comparable models derived from gambling data. The results are discussed in the light of implementing early-detection and intervention algorithms based on customer behaviour.