E-payment System Research Articles

Evaluating Branching and Sales Point Banking as Market Strategies to Raising Performance of Banks in Nigeria

A prerequisite in a competitive market environment is a result-oriented market strategies that are customer service oriented. Good service delivery channels have been considered as relevant in this regard. This study evaluates the effect of spread of bank branches and utilization of e-payment system in form of sales point banking on return on equity of banks. Banks in Nigeria were sampled and both primary and secondary data were used. Findings from Panel regression model estimate show a strong support for more branch establishment as a relevant market channel to increase performance of banks. Sales point banking do not have significant effect on return on equity. The findings suggest the need for banks to target the geographical spread of customers and make adequate provision for more bank branches. The expected advantage of proximity is duly linked to increasing performance of banks in Nigeria. Keywords: Market Strategy, Bank Branch, Sales Point Banking, Return on Equity DOI: 10.7176/EJBM/13-3-11 Publication date: January 31 st 2021

РАЗВИТИЕ ЭЛЕКТРОННЫХ ПЛАТЕЖНЫХ СИСТЕМ В УСЛОВИЯХ ПАНДЕМИИ: АНАЛИЗ СОСТОЯНИЯ И ПРОГНОЗИРОВАНИЕ ПОСЛЕДСТВИЙ

Money is an integral part of the economic life of society. Payments are made both in cash and in non-cash form. During the COVID-19 epidemic, the use of electronic payment systems became the most profitable. The article examines the role of electronic money in the modern world in the context of a pandemic. Is given a rating of e-payment systems in Russia for 9 months. 2020.

E-payment instruments and welfare: The case of Zimbabwe

The literature shows that electronic payments are key to improving financial inclusion and achieving global development goals such as the United Nation’s (UNs) Sustainable Development Goals. The benefits are premised on the welfare-enhancing effects of digital payments, which reduce costs, the probability of loss and risk for low-income consumers, as well as improve access to formal financial services. This study thus investigates the conditions under which these welfare-enhancing gains can be obtained. It considers the conditions under which e-payments can be welfare enhancing by using qualitative data from Zimbabwe. The severe liquidity constraints in Zimbabwe provide a good case for evaluating how well e-payments work, as the relative absence of cash has made the use of mobile money inevitable. Focus group data are analysed to understand participants’ everyday experiences with the e-payment system in Zimbabwe. The results indicate that the key challenges with payment systems faced by households include high costs, malfunctions of the system at the point of sale, lengthy refund processes and limited acceptance. Participants indicate a strong preference for foreign exchange cash as a mode of payment. High levels of concentration in the mobile money market, lack of transparency by financial service providers and a strong preference for cash by retailers are the main drivers of system failure. Therefore, this study identifies the need for the government to address the lack of competition in the market, as well as address macroeconomic liquidity constraints.

E-Payment Systems in Selling Product

The purpose of this study is to examine the importance of technology in business, especially in terms of transactions. The method used in this study was a descriptive method by reading from various international and domestic journals. The results of this study were identification of how simple and important technology was in influencing payment systems that were slowly changing from conventional to electronic payments (e-payment). We also discussed what information related to e-payment, such as safety, functions, and available features from using this e-payment system.

BIOMETRIC BASED THREE-FACTOR MUTUAL AUTHENTICATION SCHEME FOR ELECTRONIC PAYMENT SYSTEM USING ELLIPTIC CURVE CRYPTOGRAPHY

Electronic payment system plays a vital role in e-commerce and other financial transactions with ever-increasing acceptance of smart device based applications. To ensure secure transactions, various authentication schemes have been proposed in recent times. But existing password and smart card-based traditional e-payment systems have some limitations and also raises security concerns. However, they consume more energy and are not feasible for the e-payment system as it consists of resource constraint devices like mobile devices. Furthermore, it is prone to security issues if the password is guessed or smart card is stolen. Thus to enhance the security and to reduce the computational cost, biometric authentication based payment protocol using elliptic curve cryptography is proposed. Since biometric features are unique and also cannot be stolen or reproduced. The proposed system resists various security attacks like impersonation attack, replay attack, session key agreement, man-in-the-middle attack, and user anonymity. Furthermore, it reduces computational and communication costs when compared to other protocols as it exploits ECC. Thus the proposed authentication protocol is convenient for the electronic payment system. A simulation tool, AVISPA is utilized to verify the security of designed payment protocol and BAN logic for formal security analysis.

Geofencing based Banking Authentication System: A Fraud Mitigation Technique

In today’s world of digitization, online electronic payment systems, and banking authentication havean important role in everyone’s life. Banks use different ways of authentication at a different level tomaintain the security of the hard-earned money. The security issues in the e-payment system, ATM,websites that store data or details of the cardholders lead to frauds, In ATM and POS transactionsonly card and PIN is been used and there is no other way of authentication. Researches purposeddifferent methods such as Biometric methods which are hard to implement in the current scenario.There is no other authentication method in ATM and POS machine to authorize the user. In ourpurposed solution user will have his phone as an authentication device and we will get his locationstored on a regular base and will only be able to make transactions when both the devices(Phone andATM/POS)are in the same location this is called geofencing. This will help to track unauthorizedaccess and will get the alert event when someone tries to access the account. It will help the investigationagency in case of fraud.

ECONOMIC PROTECTION TOWARD FINANCIAL MANAGEMENT HAJJ FUNDS: INDONESIAN CASE

The potential for Haj funds in Indonesia is enormous. However, the long queues to perform the Haj pilgrimage lasted up to 17 years. The state has not wholly-owned facilities for operational needs. This study offers a new model in the management of Hajj funds in Indonesia. The offer in this research is the formation of economic independence protection by developing business units such as accommodation facilities in Mecca and Medina, Hajj planes, tours and trips, catering, hajj and umrah equipment stores, convenience stores, Indonesian culinary specialties, convection, e-payment systems. Hajj, Bottled Drinking Water, Sukuk Investment, and Other Investments. All of the profits from these funds are turned back for capital and business unit development. Thus, all the benefits of the hajj fund will again be felt by the people of Indonesia.

E-Payment System and Financial Performance of Telecom Companies in Rwanda: Case Study of MTN Rwanda MOMO Service

The purpose of the study was to investigate the impact of e-payment system and financial performance of telecommunication companies and the study carried out in MTN Rwanda, MOMO service. E-payment system as independent variable and financial performance as dependent variable. This study has the following specific objectives: To examine the money transfer services on financial performance of MTN Rwanda; to evaluate the financial key performance indicators of MTN Rwanda; to investigate the e-payment services on the financial performance of MTN Rwanda; to assess the role of mobile banking on financial performance of MTN Rwanda between 2016 and 2019; and to establish the relationship between e-payment system and financial performance. The study shows findings shows that 31 (53.4%) of Respondents strongly agreed that sending and receiving money between two subscribers of MOMO service highly affect profitability Ratio of MTN Rwanda. It Indicates that 26 (44.8%) of Respondents strongly agreed that buying airtime with MOMO service affect an increase in Sales volume of MTN Rwanda. It indicates that 27 (46.6%) of Respondents strongly agreed that paying TV with MOMO service positively affect long term investment of MTN Rwanda. It indicates that 32 (55.2%) of Respondents strongly agreed that depositing and withdrawing money on bank account with MOMO service highly affect profitability Ratio. The findings prove that there is a positive correlation between money transfer services and long term investment (p=.774 and sig=.000); between payment and profitability (p=.972 and sig=.000); between mobile banking services and improved sales volume (p=.866and sig=.000); between money transfer services and payment services (p=.785 and sig=.000); between payment service and mobile banking services (p=.781 and sig=.000); long term investment and profitability (p=.986 and sig=.000). Hence, the results indicate that e-payment systems have a positive and significant relationship with financial performance of MTN Rwanda MOMO services. Keywords: E-payment, Money transfer, Mobile banking, Mobile money, financial performance DOI: 10.7176/JESD/11-16-18 Publication date: August 31 st 2020

Building cyber security awareness in a developing country: Lessons from Myanmar

The paper discusses the arguments for inclusion of cybersecurity awareness building in development assistance programs. We note that cybersecurity awareness building can strengthen the resilience of productivity-enhancing services, such as mobile banking and e-payment systems, and benefit economic growth. We develop a typology of cybersecurity strategies involving government, the private sector and the international community. The paper describes an Australian-funded program delivered by Monash University to overcome cyber errorism by strengthening cybersecurity capacity and awareness in Myanmar and explains how and why it was delivered. Drawing on the program's experience, the paper identifies various challenges to managing an effective program as well as eight lessons learned which might be applicable to other programs. Key amongst the lessons learned is the need for a solid understanding of how the internet is accessed and used in the host country, and the need for local content to attract target audience attention.

A Ranking Model for the Selection and Ranking of Commercial Off-the-Shelf Components

In this article, a deterministic model for the selection and ranking of commercial off-the-shelf (COTS) components is developed on the basis of fuzzy modified distance-based approach (FMDBA). The COTS selection and ranking problem is modeled as multicriteria decision making problem due to the involvement of multiple ranking criteria like functionality, reliability, compatibility, etc. FMDBA is the combination of the fuzzy set theory and the modified distance-based approach. To show the working of the developed ranking model, a case study of the e-payment system is demonstrated which aims on the selection and ranking of eight COTS components over four major categories of ranking criteria. FMDBA provides a comprehensive ranking of the components based on their calculated composite distance values. To depict the docility of FMDBA method, the results obtained are also compared with the existing decision-making methodologies.

Factors Influencing the Adoption of E-Payment: An Empirical Study in Malaysia

This study examines the antecedents of the factors that influence customers to adopt the electronic payment system while making payments. Payment is the one of the element to complete the transaction while making payment. Due to the development of E-commerce, e-payment systems have been introducing. So, the use of electronic payment systems is being increasing day by day for people to complete their task quickly ineffective way. The result of the study shows that there is a relationship between dependent variables (effort expectancy and social influence) and independent variable (Adopton of e-payment). However, other variables (culture, perceived security and performance expectancy) were not significant with adoption of e-payment. Therefore, the study approves effort expectancy and social influence has a significant relationship with adoption of e-payment. Therefore, companies today that do business using electronic payment system as the medium to complete the transaction must focus more on this two variable to increase the number of people use this payment system. The increasing the number of people use this payment system will contribute to excellent result for e-commerce because e-payment system is one of the factor e-commerce becomes successful and it will give good impact to our nation’s economy.

Implementation of an E-Payment Security Evaluation System Based on Quantum Blind Computing

E-payment has gradually become the mainstream globally in recent years. However, the security and anonymity of the traditional E-payment system are not perfectly guaranteed with the emergence of the quantum computer. In this paper, an E-payment security evaluation system based on quantum blind computing is proposed for evaluating the security of network transactions. Unitary operations and four-qubit cluster state are applied in this system to effectively defend against eavesdroppers. And a shared blind matrix used to encrypt the security scores prevents the curious third-party payment platform from obtaining the private data of users. Furthermore, our system guarantees that users cannot tamper with or disguise their security scores during transactions. We demonstrate the correctness and security of the system in detail and provide theoretical support for its extension to more types of evaluation systems.

A framework for detecting credit card fraud with cost-sensitive meta-learning ensemble approach

Electronic payment systems continue to seamlessly aid business transactions across the world, and credit cards have emerged as a means of making payments in E-payment systems. Fraud due to credit card usage has, however, remained a major global threat to financial institutions with several reports and statistics laying bare the extent of this challenge. Several machine learning techniques and approaches have been established to mitigate this prevailing menace in payment systems, effective amongst which are ensemble methods and cost-sensitive learning techniques. This paper proposes a framework that combines the potentials of meta-learning ensemble techniques and cost-sensitive learning paradigm for fraud detection. The approach of the proposed framework is to allow base-classifiers to fit traditionally while the cost-sensitive learning is incorporated in the ensemble learning process to fit the cost-sensitive meta-classifier without having to enforce cost-sensitive learning on each of the base-classifiers. The predictive accuracy of the trained cost-sensitive meta-classifier and base classifiers were evaluated using Area Under the Receiver Operating Characteristic curve (AUC). Results obtained from classifying unseen data show that the cost-sensitive ensemble classifier maintains an excellent AUC value indicating consistent performance across different fraud rates in the dataset. These results indicate that the cost-sensitive ensemble framework is efficient in producing cost-sensitive ensemble classifiers that are capable of effectively detecting fraudulent transactions in different databases of payment systems irrespective of the proportion of fraud cases as compared to the performances of ordinary ensemble classifiers.

Big data, 4IR and electronic banking and banking systems applications in South Africa and Nigeria

Efficient banking solutions are an integral part of the business integration of South African and Nigerian economies as the two largest economies in the continent. Security, effectiveness, and integration of banking systems are critical to the sustainable development of the African continent. Therefore, an empirical analysis of the production of research on banking services and systems was conducted. The aim of the study was to examine the robustness of the research findings on banking systems in terms of their importance for the economic sustainability of the continent in the era of the fourth industrial revolution. The study adopted a bibliometric analysis using software clusters to visualize the results. Due to higher visibility of outputs and likely citations, the results showed that the key terms from Google Scholar are ranked higher than outputs from Scopus. Main research interests were related to internet banking (f = 70), e-payment systems (f = 57), telephone banking (f = 56), automated teller machines (f = 54), and mobile banking (f = 40). The results also showed a very low research interest in the technical aspect of online banking services such as security (f = 19, TLS = 40), authentication (f = 17, TLS =33), network security (f =13, TLS = 33), computer crime (f = 16, TLS = 42), and online banking (f = 11, TLS =32). The study found there were insufficient outputs in the area of the fourth industrial revolution (4IR) and banking services in Africa. Future research trends should examine the impact of the 4IR and big data on the banking system, regional economic integration, and sustainable growth in the continent.

Factors Influencing Customer’s Satisfaction on Mass Rapid Transit Feeder Bus Electronic Payment System

This paper introduces the current trend of the electronic payment system implementation on feeder bus in Malaysia. Smart card technology has been implemented in many countries around the world as a substitute for cash transaction. Rapid Bus Sdn Bhd was responsible for introducing electronic payment system for all Mass Rapid Transit feeder bus across all the 57 routes in February 2019. By using the Pearson correlation coefficient, the analysis stated that the significant level is 0.05 .Furthermore, it used to identify the hypothesis should be acceptance or rejected. When relationship for both variables is significant, it’s required to resolve on the level of the acceptance. The development of this e-payment system is an effort to support the cashless payment system parallel with the government aspiration to increase the efficiency of the national payment system. The aim of this study is to identify the factors that influence customers’ satisfaction of Mass Rapid Transit feeder bus electronic payment system. This study not only reveals the factors that influence customers’ satisfaction which are e-pay reliability, e-pay miles coverage, staff technical competencies and smart card functionality, but identified the significant ones among them

Quantum Blind Signature Scheme Based on Quantum Walk

Quantum walks have been widely used in quantum computing and quantum simulation, and can be applied for quantum teleportation. In this paper, a quantum blind signature scheme with quantum walk-based teleportation is proposed. The sender Alice encodes the message into quantum states and divides the encrypted information into two qubit strings. Alice teleports them separately to the signer Charlie and the verifier Bob by quantum walks. Charlie accepts Alice’s request and uses Pauli operation to generate the quantum blind signatures, then sends the signatures to Bob. Bob measures two quantum messages in hands to complete verification of Charlie’s signature. In this protocol, the messages to be signed are ingeniously blinded and prepared in single particle states, the teleportation of particle states is achieved by quantum walks. Security analysis shows that the scheme can not only resist the repudiation of the signer and denial of the verifier, but also detect the forgery of the attacker, which can be widely applied in e-commerce or e-payment system.

Trends and Challenges in Adoption of E Payment Services in India

Electronic payment services are vastly growing market around the world due to its convenience and quickness. After demonetization in India during 2016, the proliferation payment systems reached the peak with in-house service providers and global operators explore here. The proposed analysis work focus on creating conscious about different factors related to e-Payment Systems with its cons, objections and security features. The historical data and referent have been taken out in order to acquire essential data about electronic payments systems. This study on outlook of e-payment systems was carried out following search of several research directions on digital payment services. As there are multiple service providers, the digital vision will be fully utilized only by raising awareness among people and society with the huge popularity of internet and technology. To realize their success parameters, it is vital to examine the strategies of general consumers, cyber merchants, network managers, banks and other public sector organizations. Disappointed experiences may lead to establishment of a new payment system. Our results highlight straight forward explanations of the success factors of electronic payment services in India based on variety of features. The study also reveals the popularity of e-payment services in India on various criteria.

The institutional layering arrangements of the Egyptian government’s e-payment system: An analytical case study

This paper draws on the literature on institutional layering to explore the process of institutional change relating to the Egyptian government’s ambitious plan to embed e-payments into the country’s financial system. It utilises the concept of policy layering to explain the gradual yet significant and accumulative institutional and layering changes that have taken place in the country’s payment system policy and affected the activities of actors in the public sector. The paper analyses empirical data collected from interviews with various actors within the Egyptian government’s e-payment system. Analysis of relevant regulations and other official policy documents and reports is also considered. Following this, the paper focuses on the layering of institutional arrangements, consisting of both actors and instruments. In this way, the paper focuses on the actors responsible for the internal governance and external regulation of e-payments in Egypt.

Awareness and Reason towards Slow Adoption of E-Payment System: Study of Hyderabad

E-payment is a convenient and easy mode of payment, due to its convenience it makes everyone’s life easy, because it takes less time to make transaction. This makes a solid case for adoption in many developed as well as developing countries. However, there are many countries who have not successfully implemented it due to lack of facilities and even lack of awareness of customers. Even in a developing country like Pakistan E-Payment system is not so popular because of many operational constraints, according to Asian Development Bank (ADB) almost 95% people of Pakistan rely on case on delivery (COD) method and only 5% people use E-Payment system. In Hyderabad many people prefer COD method when they order online. This research aimed to analyze the customer awareness and lack of adoption of E-payment system in Hyderabad marketplace. The survey was conducted using questionnaire that was adopted from existing measurement instruments from past research papers. The questionnaires were distributed to customers and banks of Hyderabad, male and female, aged ranging from 18 to 51 years old. The data is analyzed using SPSS Software. The sample size was 350 respondents of Hyderabad. This study found that system credibility, facilitating conditions, perceived ease of use and perceived usefulness are the most important factors that affect to the customer awareness and slow adoption of E-payment system. This research will help to understand the reason behind lack of adoption of E-Payment system by studying the customer’s knowledge about the usage of E-payment system and evaluate the reason behind this slow adoption of customers.

Secured e-payment system based on automated authentication data and iterated salted hash algorithm

Electronic payment has been considered as one of the most significant and convenient applications of modern electronic services e-University compared to traditional methods that impose time-consuming, human resources, and inefficiency. Different automatic identification technologies have been widely used, such as radio frequency identification (RFID). Extensive research and several applications are focusing on taking the maximum advantage of RFID technology. Data and information security had considered a crucial role when information concerning e-commerce, e-banking, or e-payments, especially due to it required real data to establish accessed illegally. Hence, data originality and security fall a very significant and critical issue in data communication services in recent years. Applications such as e-banking or e-commerce regularly contain sensitive and personal information that should be managed and controlled by authorized persons. Thus, keeping a secure password is important to prevent unauthorized users from illegal access. The password hashing is one of the safety methods and means of preventing attacks. In this article, focuses on proposing an RFID based electronic payment and also provide multi-level security privileges for an academic domain by using RFID technology besides the programmable logic circuit as well the system used VB.Net C# environment also desktop and web-based application for system working purposes. The proposed system aims to manage student payments in a secure manner and provides the capabilities of getting a bus ticket, copying books, buying food, paying registration fees, and other services. The results have shown the system is secured by using the confirmation code in addition to password encryption.