Mobile Transactions Research Articles

Enhancing fraud detection efficiency in mobile transactions through the integration of bidirectional 3d Quasi-Recurrent Neural network and blockchain technologies

Cases of financial fraud are increasing despite recent technical breakthroughs. It is tough to find authentic financial transaction data due to privacy issues and a lack of inter-organization synergy. However, for technologies based on data, such as machine learning to function accurately inside practical systems, they require actual data. This manuscript proposes a Fraud Detection (FD) Efficiency in Mobile Transactions through the Integration of Bidirectional 3D Quasi-Recurrent Neural Networks and Proof of Voting consensus Blockchain Technologies (Bi-3DQRNN-PoV-FD-MT). A dataset of Bitcoin transactions is employed in the suggested model. The banking sector’s Bitcoin transactions serve as the foundation for this dataset. Then the data balancing is performed using a Self-Adaptive Synthetic Over-Sampling Technique (SASOS). Then, the proposed framework utilizes the Bi-3DQRNN to determine if the information is fraudulent or not. Moreover, an intelligent Enhanced Artificial Gorilla Troops (EAGTO) Optimization algorithm is introduced to tune the weights of the model parameters. A blockchain-based proof of Voting (PoV) consensus algorithm is integrated with the proposed model for forecasting upcoming transactions. The developed scheme is instigated in Python and the performance provides 12.09%, 8.91%, and 6.92% higher accuracy compared with existing techniques like K-nearest neighbor- Distributed Blockchain Consortium (KNN-DBC), Decision tree-Ethereum blockchain-enabled smart contract (DT-EBSC) and Heterogeneous Graph Transformer Networks-Ethereum smart contract (HGTN-ESC).

The Impact of Customer Service Quality and Mobile Transactions in Increasing Customer Confidence at LPD Badung District

This study uses the Badung Regency Village Credit Institution as its focal point. The purpose of the study is to find out how consumer trust in the Village Credit Institution in Badung Regency is impacted by service quality and mobile transactions. quantitative multiple regression research method with SPSS Version 24 for data interpretation and an example of 93. Research Results: (1) Mobile transactions (X2) have a positive and significant effect on customer trust; (2) customer trust (Y) has a simultaneous positive and significant effect on quality of service and mobile transactions, so that they become one unit in the LPD in Badung Regency; and (3) customer trust (X1) has a favorable and noteworthy increasing impact on customer trust. Implications for Research According to this study, mobile transactions and factors pertaining to service quality have a significant impact on Badung Regency's Village Credit Institutions.

Financial Innovations and Financial Performance of Listed Deposit Money Banks in Nigeria

This study examines the relationship between financial innovations and financial performance of listed deposit money banks in Nigeria. This study adopted expost-facto research design. Census sampling techniques was used to adopt all the 25 deposit money banks quoted in the Nigerian stock exchange. Secondary data was collected from all listed Deposit Money Banks in Nigeria between the period 2010 to 2021. The data was extracted from the annual reports of the listed Deposit Money Banks in Nigeria. Correlation analysis was used to measure the relationship between variables. Specifically, the researcher used multiple regression analysis to establish if there is relationship between the independent variables and the dependent variable. The study revealed that Automated Teller Machine (ATM) has a negative but significant relationship with Financial Performance (FP), Point of Sales(POS) has a positive and significant relationship with FP, electronic mobile transaction (MOBILE) has a positive but non-significant relationship with FP and internet web transaction (WEB) has a negative and non-significant relationship with FP. Based on the findings, the research recommends that banks and ATMs manufacturers should be more concerned about the security of banking machines and that they should collaborate with telecommunication network providers and security agents to checkmate and prosecute hackers and other internet fraud stars so as to reverse the negative effect of ATM and internet web transactions on deposit money banks’ financial performance in Nigeria. Banks should also improve service quality and customer responsiveness in cases of lost or stolen cards, frauds, and other customer complaints in relation to point of sale to enhance the performance of deposit money banks in Nigeria.

Impact of Financial Inclusion in Line with Mobile Money on Currency in Circulation

Trade initially started from Barter System and progressing through time, money has become the most used commodity as a medium of exchange. Notes and Coins have outlived the longest till our current 4th Generation era where technology has improved the efficiency and effective means of trade with the use of electronic payment system. Despite electronic payment systems being implemented to a very large scale in Zambia, Bank of Zambia statistics showed an increase in Currency in Circulation over the past 10 years from K3.4 billion (FY12) to K13.5 billion (FY21). Pandemics such as Covid-19 have really shown us that doing business electronically is more steady, efficient, and effective than when doing it the traditional way. This study investigated the impact of financial inclusion in line with mobile money on currency in circulation in Zambia. The study found that Mobile Money agents increased by 21.16% to 156,040 in 2021 from 128,789 in 2020. This was explained by a very strong positive relationship (r= .934; p<.000) between Mobile Money use and Currency in Circulation. This was against a theoretical understanding whereby CIC was supposed to show a steady decrease as more money is being used electronically. The study also found poor full transition to electronic transactions and demand for cash. The strategies for reducing currency in circulation found included education of the general public on financial inclusion and promotion of cashless transactions in shopping malls. The study concluded that mobile money did not reduce currency in circulation but increased the currency in circulation as cash was still needed in the current trading pattern in Zambia. More awareness needs to be done for more people to embrace mobile transactions.

Assessment of CBN Cashless Policy (Electronic Payment System) on Economic Growth in Nigeria

Purpose: The objective of this study was to examined the effect of electronic payment systems on economic growth in Nigeria from 2012-2022, the relationship between real GDP and electronic payment systems and its impact on business growth in rural areas. Theoretical framework: The conventional wisdom in the field of growth economics is that the only path to long-term, sustainable development is an increase in productivity achieved via technical advancement. Previous literatures provide a linkage between e-payment and growth (Ravikumar, 2019). However, there is still much to investigate and learn about nexus between electronic payment and economic growth in Nigeria in recent development. Design/methodology/ approach: The data analysis method uses the Autoregressive Distributed Lagged Regression (ARDL) Method Covering the Period of 2012–2022. The data collection technique is carried out through a questionnaire administered to respondents across the six geopolitical zone. The data for the e-payment statistics was obtained from the quarterly and annual report of Central Bank of Nigeria statistics (2022) and the data for the real gross domestic product was obtained from the Central Bank of Nigeria Statistical Bulletin (2022). Findings: The results of ADRL indicate positive and direct relationship between real GDP and electronic payment systems with a significant impact on business growth in rural areas. The short-run analysis using the vector error correction model showed the short-run relationship and convergence of the variables real GDP, the value of POS transactions, the value of ATM transactions, the value of mobile transactions, and the value of internet transactions to the long-run equilibrium position. Research, Practical & Social implications: the result of this study showed that e-payment systems have a positive and direct relationship with economic growth, but it does not significantly contribute to economic growth in Nigeria. Originality/value: E-payment systems and security investment have a good association with economic growth, which means that if the government prioritize technology and internet infrastructure to make e-payment channels easier and cheaper for the public, it will amount to economic growth vis-à-vis development in Nigeria.

Counting your mobile customers one by one: mobile transaction predictions using buy-till-you-die models

Counting your mobile customers one by one: mobile transaction predictions using buy-till-you-die models

Financial Freedom in PAYTREN Multi Level Marketing Practice

Financial freedom is a process to obtain passive income, cancellation, receipt and sale of goods or services, then there is someone who is involved in the Multi Level Marketing business. One company that provides passive financial freedom with a Multi Level Marketing system as PT. Veritra Sentosa Internasional by creating a product called PayTren. PayTren is a mobile transaction application created.The purpose of this study is to find out how the forms and ways of obtaining financial freedom in the practice of Multi Level Marketing PayTren and know the review of the theory of maṣlahah and mafsadah on the forms and ways of obtaining financial freedom Multi Level Marketing PayTren. This research uses descriptive qualitative method. Data sources are taken from primary and secondary data. The acquisition and form of financial freedom achieved leads to greater mafsadah, the main cause is the company making the dominant market opportunity for success it is not clear so it leads to gambling, fraud, usury and tyranny. While the basic services of the PayTren application such as electricity, bpjs, top up the balance, speedy payment and others are not included at all from the main purpose of this contract.

Last Digit Tendency: Lucky Numbers and Psychological Rounding in Mobile Transactions

The distribution of digits in numbers obtained from different sources reveals interesting patterns. The well-known Benford’s law states that the first digits in many real-life numerical data sets have an asymmetric, logarithmic distribution in which small digits are more common; this asymmetry diminishes for subsequent digits, and the last digit tends to be uniformly distributed. In this paper, we investigate the digit distribution of numbers in a large mobile transaction data set with 835 million mobile transactions and payments made by approximately 460,000 users in more than 300 cities. Although the first digits of the numbers in these mobile transactions follow Benford’s law, the last digit has a strong tendency to be a lucky number or be influenced by psychological rounding. This lucky number tendency is more significant in transactions that are more strongly connected to social interactions, such as money sent as gifts or as “red envelopes” (a traditional method of gift-giving during Chinese holidays), and in transactions by individuals with potentially greater emotional needs, such as during COVID-19 outbreaks and natural disasters. This psychological rounding tendency is more common in online e-commerce payments, in-store purchases, and money transfers between individuals. These findings are key for understanding the last digit tendency and its psychological and emotional mechanisms, which could be used as an indicator of public sentiment or in methods of detecting fraudulent business activity.

Machine Learning In Fraud Detection and Prevention

Digital fraud has become a threat to businesses of all kinds. Under the IOT scenario, financial fraud refers to unauthorized mobile transactions using mobile platforms to fraudulently obtain funds through identity theft or credit card theft It has now become imperative for an organization to pay attention emphasize fraud and people suppression. Digitization has revolutionized the daily tasks we perform at the click of a button. In the real world, financial fraud detection under the IOT scenario requires advanced planning since financial fraud results in financial loss. Thus, we primarily analyzed financial fraud mechanisms using machine learning and deep learning techniques such as complex algorithms for fraud pattern detection. But fraudsters are also becoming smarter by the day and must be constantly monitored to prevent fraud and stay ahead of fraudsters. It is important to look at salient patterns that can help distinguish genuine behavior from fraudulent behavior. Client information such as Geo-location, authentication, session, and device IP address can be captured and monitored. The application of machine learning and artificial intelligence will play an ever-important role in detecting and identifying fraudulent patterns.

Surprising Consequences of Innocuous Mobile Transaction Reminders of Credit Card Use

Excessive credit card use has been a serious concern across the world since the introduction of the payment method. In South Korea, credit card companies and the government collaborated on a behavioral intervention, the transaction reminder service, to help consumers better manage their credit. Credit card transactions trigger text message confirmations sent to users’ mobile phones, increasing the salience and memory of expenses and resulting in more controlled spending. Experimenting in an institutional setting in which one group receives reminders and the other does not, the authors combined difference-in-differences methodology with inverse probability treatment weighting to assimilate random assignment. The empirical findings show that this intervention counterintuitively brings an overall increase in spending. This increase is substantial among those who had been light to medium spenders before the implementation, whereas historically high spenders experience little to no change after receiving the transaction reminders. The results are consistent with a theory that users reallocate the mental effort of remembering their past spending (mental recordkeeping) to digital devices, leading to higher spending due to poor recall. These findings attest to the value of evaluating a policy before scaling it broadly.

Role of authentication factors in Fin-tech mobile transaction security

Fin-Tech is the merging of finance and technology, to be considered a key term for technology-based financial operations and money transactions as far as Fin-Tech is concerned. In the massive field of business, mobile money transaction security is a great challenge for researchers. The user authentication schemes restrict the ability to enforce the authentication before the account can access and operate. Although authentication factors provide greater security than a simple static password, financial transactions have potential drawbacks because cybercrime expands the opportunities for fraudsters. The most common enterprise challenge is mobile-based user authentication during transactions, which addresses the security issues against fraudsters. The confirmation of a user legitimation before the money transaction is highlighted by mechanisms and technologies from previous studies that may be helpful in user authentication. This study aims to identify the technologies for user authentication and the opportunity for their transformation to mobile money transaction security despite having all the legally required data for a transaction. This proposed review has identified the role of multifactor authentication techniques for authentication to mitigate the risk of fraudulent transactions—the analysis through 92 articles taken from famous publishers. The most relevant articles address authentication problems, of which 54 percent describe money transaction security, and the rest highlight the supporting technology for user authentication. The study platform described the technology-based approaches with the appreciation of new ideas for secure money transactions. The QR code and multifactor authentication are key terms that increased security by 46%. In addition, this also ensures the user is legitimate using advanced technologies and algorithms to predict and discover transaction risks and discourage fraudsters from trying.

An Examination of Mobile Fintech Utilization From a Stress-Coping Perspective

This study examines associations between a set of financial stress factors and three types of utilizations of mobile financial technology (fintech) from a stress-coping perspective. With data from the 2018 National Financial Capability Study, the results indicated that financial stress, perceived overindebtedness, and stressful financial stressors were positively related to the usage of mobile fintech for fundamental financial task management, mobile transaction, and mobile banking. Policy makers need to be aware of the opportunities generated within the growing fintech industry and its potential role as a stress-coping resource for consumers experiencing financial stress, perceived overindebtedness, and financial stressor events. Financial practitioners, educators, and institutions can apply the findings of this study as they develop and promote financial services and products through mobile devices to create greater access for individuals to cope with financial stress and difficulties.

PENGARUH PERSEPSI MANFAAT, KEAMANAN DAN KEMUDAHAN TERHADAP MINAT NASABAH MENGGUNAKAN LAYANAN MOBILE BANKING PADA PT. BANK SYARIAH INDONESIA DI TANGERANG

This study aims to investigate the effect of benefits, safety and convenience on customers' interest in using Mobile Banking. The growth of transactions on BSI mobile has increased very rapidly during the Covid-19 pandemic from March 2020 to July 2021, the number of mobile banking users is 2.5 million users with BSI mobile transaction growth of 46.4 million transactions, up to 97.4 %. The increase in mobile BSI transactions was driven by the presence of new habits from Indonesian people during the Covid-19 pandemic and customer financial transaction activities in shopping on e-commerce The research method by collecting data using research questionnaires and data processing using SPSS version 22 The benefits variable has a coefficient value of 0.76, has a positive effect on interest with a significant value of 0.02. The security variable has a coefficient value of 0.169, the Security Perception variable has a positive effect on interest, but not significant with a value of 0.162. The convenience variable gives a coefficient value of .464. Ease has a positive and significant effect of .000 on the interest in using mobile banking. The results of the F count show the number 74.210 and a significant value of 0.000, which is less than the value of 0.5. This means that the independent variables simultaneously or simultaneously affect the dependent variable.

Using a BBWM-PROMETHEE model for evaluating mobile commerce service quality: A case study of food delivery platform

In the age of COVID-19, many governments imposed social distancing, work-from-home, and crowd control measures, which continue to affect economic development and forces service providers to be increasingly reliant on e-commerce and m-commerce platform technology. Moreover, due to the availability of 5G network speeds, cell phone applications and the Internet services have become indispensable for future smart lifestyles, prompting brick-and-mortar businesses to shift their sales models to mobile network operators (MNOs). To popularize the use of m-commerce, it is critical to ensure that service platforms operate well and give the customer what they want. It is thus essential to create a comprehensive and complete performance framework for the evaluation of m-commerce services. In this paper, a hybrid model is developed to explore this issue and the effectiveness and robustness of the model is illustrated by an application to two major food delivery platforms in Taiwan. The Bayesian Best Worst Method (BBWM) is applied to identify the criteria weights and ranks. The judgments of 14 experts are integrated to obtain the optimal group criteria weights. The performance data were obtained from a survey of 210 experienced users of these delivery platforms. The difference between the actual performance of each delivery platform and the aspiration level (AL) was calculated using the modified Preference Ranking Organization Method for Enrichment Evaluations (modified PROMETHEE) to determine an overall score for each delivery platform. A sensitivity analysis was also conducted and comparison made with other Multiple Criteria Decision-Making (MCDM) methods. The results show that information security and privacy, integrity, and mobile transaction service are the most important criteria, with Food Panda performing better than the other mobile food delivery service provider. The proposed evaluation framework is useful for performance evaluation of mobile commerce service quality, and providing effective suggestions to assist decision-makers in creating development strategies.

TECHNOLOGICAL DISRUPTION AND DEPOSIT MONEY BANKS FINANCIAL PERFORMANCE IN THE PRE AND POST COVID-19 PANDEMIC IN NIGERIA

The study examined the relationship between technological disruption and deposit money banks financial performance in the pre and post covid-19 pandemic in Nigeria for the period of 2000-2020 (21years). This was done respect of measures of technological disruption, namely; Automated Teller Machine (ATM), Internet Banking (INTB), Point of Sales (POS) and Mobile Transactions (MTs) and how they affects deposit money banks financial performance of in Nigeria {proxy with Return on Assets (ROA)}. The method of data collection used in this study is the secondary source of data (time series data), from the CBN Bank Supervisory Annual Report, CBN Statistical Bulletin and Nigeria Deposit Insurance Corporation (NDIC) Annual Reports for the period 2000-2020. The data set was described using descriptive statistics and the unit root test was conducted to ascertain if the data are stationary in order to have accurate regression result. The correlation analysis will be use to ascertain the co-movement of the independent variables in relation to the dependent variable while the Multiple Regression analysis were employed with the aid of E-VIEW version 9.0 for the purpose of testing the research hypotheses raised. The finding revealed that Automated Teller Machine (ATM), Internet Banking (INTB), Point of Sales (POS) and Mobile Transactions (MTs) have positive and significant effect on Return on Assets (ROA) of deposit money banks in Nigeria. Hence, the study concluded that technological disruption has significant positive effects on deposit money banks financial performance in the pre and post covid-19 pandemic in Nigeria. Based on the findings, the study recommended that deposit money bank management should pay more attention on the activities that will improve the technological disruption channels of their banks if they wish to increase the ROA value of their banks as this will lead to high customer’s satisfaction and patronage.
 Keywords: Technological Disruption, Financial Performance, Deposit Money Banks and Pre and Post COVID-19 Pandemic.

The impact of digitalization on the banking sector: Evidence from fintech countries

Banking services are now branded and are provided in distinct ways. It has been proven that the development of new financial services and products substantially impacts bank performance. This paper investigates the effect of e-banking services on the performance of banks before the pandemic. The study looks at a sample of 24 nations, including leading fintech nations. Data from 2012 to 2019 was gathered from the World Development Indicators and the Bank for International Settlements (BIS) databases. The findings show a significant positive correlation between cashless payments and banks' ROA. The performance of a bank is significantly impacted by mobile subscribers. In fact, customers are willing to use mobile transactions in place of traditional bank accounts. Banks' ability to generate revenue from assets (in the form of credits) is consequently restricted, which has an impact on their ability to earn a profit. The research suggests a range of policy implications and policy interconnections between digital financial services, banking stability, and efficiency. The banking sector has become more digitalized after the recent pandemic. To date, there is very little literature that has focused on the effect of digitalization on the banking sector before the Covid-19 crisis. The current study contributes to the literature by providing an overview of the relationship between the banking industry and digitalization before the latest pandemic for some leading fintech countries. This research will contribute to later comparisons between the different situations of the banking sector pre- and post-pandemic.

Intelligent Blockchain-Based Secure Framework for Transaction in Mobile Electronic Payment System

The rate of smartphone purchases is rising daily, and mobile payments are now frequently accepted in various areas. It is essential to transfer money completely safe as well as quick. The encrypted distributed ledgers function provides verified real-time transaction confirmation without the necessity for intermediaries like banks and clearinghouses; blockchain provide quick, secure, decentralized, and inexpensive transaction services. Blockchain technology makes money transfer simpler with transparency and financial data security. Through these capabilities, blockchain has attracted interest from around the world. However, some challenges arise while completing some financial security needs. This work proposes a framework for secure mobile payments based on blockchain technology. The advantages of blockchain are discussed and how blockchain technology provides multi-level authentication to secure mobile based financial transactions. Due to the increased safety and confidentiality of users on mobile payment apps, the suggested system takes into account the need of developing a safe application for the mobile transactions. We have also addressed the security related challenges of blockchain based payment applications and provided potential solutions.

Empirical analysis of internet and mobile banking in Malaysia

Internet and mobile banking deliver banking services through various cashless payment tools, such as debit and credit cards, direct transfers and electronic wallets. The usage of internet and mobile banking in Malaysia has increased, but it is uncertain if they facilitate retail consumption. If internet and mobile banking are the preferred banking services, their usage could stimulate retail consumption; otherwise, their usage will be short-lived and more work must be done to develop the internet and mobile banking sector. This study aims to determine the influence of internet and mobile banking on retail consumption in Malaysia. The diffusion of innovation theory is applied by examining how technologically aids cashless payment systems and how internet and mobile banking might facilitate retail consumption. The short-run and long-run influences of internet banking and mobile banking are analyzed based on the autoregressive distributed lag (ARDL) unrestricted error correction model. The ARDL unrestricted error correction model was estimated for retail consumption, represented by the monthly retail trade index, and internet banking and mobile banking are represented by the number of monthly internet and mobile transactions. The results suggest a bi-directional causal relationship between retail consumption and internet banking in the short run. In the long run, the internet and mobile banking transactions were found to significantly facilitate household retail consumption, but not vice versa.

User Experience Satisfaction Analysis of Customers on the BRI Mobile Application (BRImo)

Bank Rakyat Indonesia, a government-owned bank, has launched BRImo (BRI mobile) as a digital mobile transaction service. A study was conducted to analyze customer satisfaction with the BRImo app in Lubuk Pakam, due to differences in the number of customers versus the number of BRI Mobile Banking users. A survey was conducted using a User Experience Questionnaire, with 400 respondents completing an online questionnaire via Google Forms. The evaluation results showed that the attractiveness aspect received an above-average evaluation value of 1,270, clarity received an above-average evaluation value of 1,552, efficiency was evaluated as good with a value of 1,509, accuracy received an above-average evaluation value of 1,229, and stimulation received an above-average evaluation value of 1,194. However, the novelty aspect received a below-average evaluation value of 0.320 and needs improvement. To improve this aspect, the application should be updated regularly to avoid monotony, with updates to the appearance or features of the application. Based on follow-up interviews, customers expect BRImo to add a live chat feature with customer service and a mutation download feature.

Preventing waste in food supply networks - a platform architecture for AI-driven forecasting based on heterogeneous big data

Waste is a major challenge in today´s food supply networks. It induces economic, ecologic, and social implications. Current advanced supply and demand planning frameworks consider waste as an expected lost value in a profit-seeking trade-off. Consequently, existing initiatives for food re-distribution tackle the problem at the end of the supply chain, i.e., at the retailer stage. Advanced forecasting is foreseen as a facilitator of planning towards food waste prevention. However, companies in food production and retail seldomly utilize advanced forecasting methods, i.e., artificial intelligence. Deterrents for inadaptability rank from the differentiation between the role of pure data driven reliance and the human factor. Furthermore, no remarkable endeavor has so far combined heterogeneous external data integration with advanced forecasting techniques for food waste reduction. This paper proposes an architecture for a collaborative digital demand and supply matching platform for perishable food supply chains. Focus lies in the integration of heterogeneous big data (i.e., mobile transaction data and weather data) with AI-based forecasting methods. Building on the Design Science Research methodology, problems and requirements from the perishable food industry form the base for the platform architecture as the core artifact. The validation of the proposed architecture is undertaken by a panel of selected business experts from food retail and wholesale. The designed platform architecture consists of the core modules “data layer”, “logic layer”, “interaction layer”, and “data visualization”, and includes governance rules for sensible knowledge protection and data security. The present work contributes to the research area of food waste prevention by combining collaborative supply chain management approaches with advanced data-driven technologies including artificial intelligence and heterogeneous big data integration. Further research will extend this study by a use-case implementation.