Money Transfer Services Research Articles

Knowledge Management and Perceived Organisational Innovativeness in Global Organisations

This paper aims to examine how knowledge management is associated with perceived organisational innovativeness in global companies operating in Central European country and what role in this relationship is played by organisational environment stimulants – organisational trust, leadership support, training and access to resources, and information and communication technology (ICT). This empirical study used a quantitative approach with the data gathered by questionnaire from global companies functioning in IT service (94) and in money transfer service (109). The findings revealed that knowledge management is significantly associated with perceived organisational innovativeness in the global organisations’ context. Organisational environment stimulants (organisational trust, leadership support, training and access to resources, ICT) were confirmed to have a moderate positive association with perceived organisational innovativeness and mediated the relationship between knowledge management and perceived organisational innovativeness. The findings provide additional insights into the existing research on global companies’ knowledge management and suggest that global organisations aiming to foster their innovativeness through knowledge management should focus on the development of learning capability and orientation at the organisational level, as well as reconsider their level of organisational trust and leadership support perceived by employees. This research contributes to the literature by examining the relationship between knowledge management and perceived organisational innovativeness and looking into organisational environment stimulants’ role in this link in a specific global organisations’ context. Implications for Central European audience: when more and more global IT or financial service providers are looking for options to expand their business across the international borders, Central European countries like Lithuania become an attractive destination. The recommendations derived from the results indicate that leadership in global organisations should strive to create a sense of benevolence and aim to maintain integrity between communication and behaviour, particularly focusing on organisational trust development. Global business organisations’ managers must be able to communicate values and norms in a clear and transparent manner as well as ensure that organisational policies are governed in a coherent way across the offices around the world.

О «виртуализации» платежных услуг в национальной платежной системе России

Currently, there is a development of e-Commerce, the possibility of reducing the cost of transfer services, the ability to make payments anonymously, as well as the elimination of gaps in legislation regarding the legal regulation of new technologies used for several years — payment applications, payment services, etc. The author of the article describes how the “virtualization” of the national payment system affects all types of payment services and how it manifests itself in relation to the payment acceptance service, postal transfer service and money transfer service. Special attention is paid to the activities of payment systems and the organization of the remote payment mechanism.

Impact of mobile money access on internal remittances, consumption expenditure and household welfare in Ghana

PurposeThe purpose of this study is to examine the impact of mobile money access on internal remittances received, per capita consumption expenditure and welfare of household in Ghana.Design/methodology/approachThe study used data from the latest round of the Ghana Living Standards Survey (GLSS 7) and employed the propensity score matching technique to estimate average treatment effect between users and non-users of mobile money transfer services.FindingsThe study finds that using mobile money is welfare enhancing, particularly for poor households and the channel by which it impacts on welfare is through higher internal remittances received and per capita expenditure. The results from the average treatment effect indicate that mobile money users receive significantly higher remittances and consequently spend averagely higher on consumption than non-users.Research limitations/implicationsAlthough the data employed in this study is limited to one country, the findings support the financial inclusion role and developmental impact of mobile money transfer services. Hence, mobile money transfer services should be promoted and facilitated by the telecommunication and financial sector regulators.Originality/valueIn addition to making original contribution to the literature on the welfare impact of mobile money, the study's use of the propensity score matching is unique.

PORTER’S FIVE FORCES INFLUENCE ON COMPETITIVE ADVANTAGE IN TELECOMMUNICATION INDUSTRY IN KENYA

Purpose: Competition is at the core of existence of firms. This determines the appropriateness of a firm’s activities that can contribute to its performance, such as innovations, a cohesive culture, or good implementation. Many firms have performed poorly in a competitive environemnt due to failure to analyse and strategise on the Porter’s Five Forces, regardless of the industry sector. Competitive strategy aims to establish a profitable and sustainable position against the forces that determine industry competition. The purpose of the study was to investigate the influence of Porter’s Five Forces on competitive advantage in telecommunication industry in Kenya. The study aims at establishing the extent to which barriers to entry, rivalry among established firms, bargaining power of buyers, bargaining power of suppliers and substitute products influence competitive advantage of telecommunication industry in Kenya.
 Methodology:The study adopted desktopresearch. Specifically, the paper identified documentary evidence in the form of already completed studies that focused on influence of porters five forces on competitive advantage both locally, regionally and globally.
 Findings:The study findings indicated that there was threat of new entrants in the teleommunication industry in kenya due to presence of various competing firms. In addition, although the suppliers in the industry had formed associations to negotiate prices with the input providers, the buyers bargaining power was high. The firms had to strategize on how to attract and retain the customers to avoid shifting from one company to the other. Findings on bargaining power of buyers of mobile phone providers indicate that, firms have spent time and energy in ensuring their customers are well protected and incentivized so as to stick to their respective mobile networks. Similarly, findings on intensity of rivalry, indicate that to strategize and win in this highly competitive industry, product differentiation, process innovation, product innovation and technological innovation are some of the strategies the companies use to stay ahead. Findings on threat of substitute products indicate that, the industry has a number of substitutes that can highly influence the profitability of these companies. The study concludes that porters five forces framework indeed influenced performance of telecommunication firms in Kenya. The study also concludes that the threat of new entrants applies to the mobile phone providers in the Kenyan Telecommunication industry due to the presence of various competing organizations. These organizations are offering similar products and services such as mobile money transfer services, handheld devices, airtime and accessories.
 Unique contribution to theory, practice and policy The study recommends that the telecommunication firms should keep monitoring their business environment so as to structure the appropriate strategies to keep up with competition and technological changes.

Keeping Financial System Clean: Suppressing Terrorist Infiltration of Money or Value Transfer Services in East Africa

This article is about understanding the vulnerability of money or value transfer services (MVTS) to terrorist infiltration in East Africa. The author also analyzes the penetration of money transfer services (MVTS) by criminals and their concealment of income as a result of criminal acts. It also examines some of the causal factors of terrorism in the East African region (EA) and describes some effective and comprehensive law enforcement measures aimed at improving the effectiveness and efficiency of the fight against terrorism in the region. The article describes how civil conflicts in the EA region have led to a lack of banking services, which in turn has made EA vulnerable to terrorist financing, further amplified by conflicts in the region that have led to internal and external displacement of migrant communities, societies, and families that rely heavily on transferring funds to dependents. The author examines the consequences of the endless civil war in Somalia by Al-Shabab and how it has led to spread of terrorism and related terrorist financing to neighboring countries. Most of those countries do not have strong anti-money laundering / terrorist financing (AML/CFT) systems. Financial services such as mobile money, Forex bureaus, and other are exposed to high levels of terrorist financing risk in the EA economy. The author goes on to explain how a weak AML / CFT system has led to difficulties or loss of access to International currency markets, and the pressure on relevant banking relationships has in turn undermined and affected the long-term growth prospects and financial accessibility of countries. This led to an increase in the cost of financial services, which negatively affected the banking ratings. Further the author considers the threat to internal and financial stability from criminal activity – in particular, the significant level of tax crimes (value-added fraud and tax evasion) that affect the flow of government revenue, thereby impeding institutional development. This article also highlights how EA member States, through the FATF regional anti-money laundering authority in Eastern and Southern Africa (ESAAMLG), should improve guidelines, strategies and capabilities, such as risk assessment, which is the basis of the MVTS provider’s risk-based approach. They should help money transfer providers understand how and to what extent their services are vulnerable to ML / TF.

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

Designing the QuickCash Payment System prototype by using cash withdrawal services through minimarket as an alternative solution for secure money transfer from bank customers to non-bank customers

In this era wich has many electronic payment facilities, it is noted that the need for cash in Indonesia is still high and bank customers are still relatively small. This shows that Indonesians need money transfer services from bank customers to non-bank customers. As an alternative to meeting these needs, Alhothaily, et al. put forward a QuickCash payment system that allows bank customers to transfer money to non-bank customers. Therefore, in this study, the prototype design of the QuickCash payment system was made to facilitate the transfer of money. According to Alhothaily, et al. QuickCash payment system is a payment system that makes it easy for users to transfer money. To prove this statement, the prototype design of the QuickCash payment system was built using the SSDLC methodology and tested the QuickCash payment system prototype by collecting data using a questionnaire. Based on the test results with a significance level of 5%, all respondents agreed that the QuickCash payment system made it easy for users to make money transfers.

PROSPECTS FOR THE DEVELOPMENT OF THE LEGAL MECHANISM FOR THE FUNCTIONING OF PAYMENT SYSTEMS

1 Lomonosov Moscow State University, Moscow, Russia The presented research reveals an approach to the construction of a legal mechanism for the functioning of payment systems. The proposed approach is based on the application of the principles of legal regulation. The purpose of a work is to determine the existing legal mechanism for the functioning of payment systems, identify its drawbacks and propose a new approach to legal regulation to ensure the proper functioning of payment systems. The proposed approach to legal regulation takes into account the specifics of the functioning of payment systems, which consists in the presence of three elements in its activities: institutional, procedural and organizational. These elements reflect the subject structure of the payment system, the process of providing money transfer services by them, and the ways in which payment system entities interact during providing payment services. Each of the elements must be defined within the legal framework of the payment system to ensure its proper functioning. The proposed principles of legal regulation take into account the features of these elements, in particular, the principles are classified into three groups, depending on the element they affect. The paper describes ways to implement the principles in the legal mechanism: the possibility of their direct application, depending on the type of significance of the payment system, is analyzed. It is also concluded that the implementation of the principles in the legal mechanism will reduce the regulatory burden on payment systems by using an approach depending on the level of significance of the payment system. The paper defines the role of the principles, which is that the principles allow to eliminate the legal gaps in the legislation on the national payment system, and prevent the emergence of new gaps.

Migration, Money Transfers, and Mobile Money: Evidence from Niger

Mobile money can reduce the cost of sending remittances as compared with traditional money transfer systems. Despite remittances being a crucial part of the West African economy, mobile money is failing to take off. We use supply and demand data for money transfer services to better understand low mobile money adoption in Niger. Using a modified Becker-DeGroot-Marschak mechanism to elicit willingness to pay, we find that households are willing to pay the cost of sending a transfer via mobile money, with substantial regional variation. This regional variation is correlated with agent density, which suggests that agent infrastructure might be a barrier.

Addressing Web Application Security Issues and Vulnerabilities Assessment Pen Testing

The world relies heavily on the Internet, and every organization uses web applications extensively for information sharing, business purposes such as online sales, money transfer, etc., and Exchange services. Nowadays, providing security for web applications is the greatest challenge in the corporate world because web applications will be the main way for their daily business and if the web application is affected, then daily business and reputation will be affected. As many organizations have been using the web application service to share or store sensitive information about their clients and assets. So, Web Applications are inclined to security attacks and new security vulnerabilities have grown in the last two decades in a web application and have become an important target for attackers. So, it is very vital to secure a web application. The vulnerabilities in web applications will incur due to the security misconfigurations, programming mistakes, improper usage of security measures, etc. So, vulnerability assessment and pen testing will help to figure out the different vulnerabilities present in web applications. The websites are also using to deliver the critical services to its customers so it must run every time without any interception, to do this VAPT will play a crucial role. This paper reviews about vulnerability assessment and pretesting steps and types, website vulnerabilities like SQL Injection, Cross-Site scripting, file inclusion, cross-site request forgery, and broken authentication with types and remediations and also discuss how the effect of these vulnerabilities on a web application.

The Crime Of Money Laundering With The Origin Criminal Action Of Drug Trafficking In Supreme Court Decision No. 1303 K / Pid. Sus / 2013 Juncto High Court Decision No. 700 / Pid / 2012 / Pt.Mdn Juncto Medan District Court Decision No.1234 / Pid.B / 2012

Pencucian uang or in English is called money laundering is not only threatening the economic stability and integrity of the financial system, but also harm the joints of the life of society, nation, and state based on Pancasila and the Constitution of the Republic of Indonesia Year 1945 Money laundering is done is to disguise the proceeds of crime. In this case, will be appointed on the crime of narcotics and drugs. This research uses a normative juridical research with descriptive analysis. The type of data used is secondary data sourced from primary, secondary and tertiary legal materials. Secondary data were collected by library research techniques. Next, the data is analyzed using qualitative analysis methods. Mode of crime in the banking sector, in this case, use money transfer services Money Changer (money changers). Predicate crime (crimes origin) it is a criminal offense drug, namely methamphetamine. Methamphetamine trade is carried out between cross country, namely between Malaysia and Indonesia. Keywords : Money, Laundering, Predicate, Crime, Narcotics.

Adoption Factors on Online Money Transfer Services in a Developing Country: A View on Extended Unified Theory of Acceptance and Use of Technology

Adoption Factors on Online Money Transfer Services in a Developing Country: A View on Extended Unified Theory of Acceptance and Use of Technology

Financial exclusion as a consequence of counter-terrorism financing

PurposeThe purpose of this paper is to analyse the unintended consequences, financial exclusion, of counter-terrorism financing regulations in terms of their impact on financial inclusion and, consequently, the creation of an ineffective counter-terrorism financing framework. A further aim is to make recommendations to mitigate these unintended consequences.Design/methodology/approachThis subject is examined by using the practices of a range of countries and organisations. The interdisciplinary approach of the paper is highlighted, which comprises criminal law, banking law, international law and human rights law.FindingsFinancial exclusion is a focal point that results in ineffective counter-terrorism measures which are caused mostly by the formal financial sector, in particular, the banking system. The financial exclusion also leads to counter-productive counter-terrorism financing through a low risk-appetite, de-risking, de-banking, financial exclusion and using unregulated or less-regulated and supervised financial systems.Originality/valueNo article comprehensively analyses financial exclusion as a consequence of counter-terrorism financing framework. The paper examines the process of counter-terrorism financing regulations, which leads to financial exclusion. In addition, the impact of financial exclusion on all relevant actors, such as individuals, correspondent banking relationships, money and value transfer services, charities and virtual currencies, is examined.

Factors Determining the Continued Intention to Use Mobile Money Transfer Services (MMTS) Among University Students in Ghana

This study explored the factors influencing the continued intention to use mobile money transfer services among university students in Ghana. The UTAUT was used as the research theoretical framework while the analysis was conducted with SPSS and SmartPLS. The results demonstrate that the continued intention to use mobile money transfer services is influenced by performance expectancy, effort expectancy, social influence, facilitating conditions, and perceived service quality. Also, perceived service quality was found to be a significant predictor of the actual use of mobile money transfer services. The study further revealed that the continued intention to use was a positive determinant of the actual usage of mobile money transfer services. The implications of these and other findings of the study are discussed.

FinTech: New Financial Landscape in India

FinTech is the intersection of two things "Financial Services" and "Technology". It shifts business and consumer from the pen-paper method to digitalization which reduces time, cost and increases efficiency. FinTech is of the major tool which can play a vital role to make the cashless economy. As per Global FinTech Adoption index 2019, 96% consumers globally are aware to at least one digital payment, money transfer and payment services of FinTech.India is the top runner in the adoption of FinTech as per the EY FinTech Adoption Index 2019.

Electronic payment systems in Russia and in foreign countries

The paper is devoted to a comparative analysis of payment systems using electronic technologies in the implementation of money transfer services in Russia and abroad. A comparative analysis of payment systems in the UK, USA, France, Switzerland with Russian payment systems is carried out, electronic information exchange systems used in national payment systems of states are considered. The importance of the mentioned system for wholesale payment systems in any country of the world is noted. The author makes conclusions on progressive electronic payment management systems in the Russian Federation.

ІНСТИТУЦІОНАЛЬНІ АСПЕКТИ РЕГУЛЮВАННЯ ІННОВАЦІЙНИХ ФІНАНСОВИХ ТЕХНОЛОГІЙ У КОНТЕКСТІ РОЗВИТКУ КРИПТОВАЛЮТ

ІНСТИТУЦІОНАЛЬНІ АСПЕКТИ РЕГУЛЮВАННЯ ІННОВАЦІЙНИХ ФІНАНСОВИХ ТЕХНОЛОГІЙ У КОНТЕКСТІ РОЗВИТКУ КРИПТОВАЛЮТ

‘Upliftment’, friends and finance: everyday exchange repertoires and mobile money transfer in Kenya

AbstractThe rapid and massive adoption of mobile money transfer (MMT) services in East Africa, particularly in Kenya, stands in stark contrast to historically low use of formal financial systems on the continent. Its ‘fertile grounds’ therefore require in-depth analysis to understand the implications for African financial systems. This paper argues for the need to examine the underlying conceptual environment that enables low income and poor people's MMT adoption. It innovatively combines anthropological with ethnolinguistic analytical approaches to distinguish two repertoires around resource exchange. First, is a relational financial repertoire where relationships are developed and consolidated to create support and ‘upliftment’. A contrasting resource-focused repertoire is more like that of the formal financial sector. Identifying the conceptual features of relationality, the study offers a new perspective on the adoption and use of MMT in Africa and highlights the potential for disjunctures with policy efforts to increase financial inclusion.

UTAUT2 모형과 보안을 적용한 대학생의 모바일 간편송금 서비스 이용의도에 관한 연구

UTAUT2 모형과 보안을 적용한 대학생의 모바일 간편송금 서비스 이용의도에 관한 연구

Tindak Pidana Pencucian Uang Dengan Kejahatan Asal Tindak Pidana Narkoba Pada Putusan Mahkamah Agung RI No. 1303 k/Pid.Sus/2013 Jo. Putusan Pengadilan Tinggi Medan No. 700/pid/2012/Pt.Mdn Jo. Putusan Pengadilan Negeri Medan Nomor 1243/Pid.b/2012/Pn.Mdn

Money laundering is not only threatening the economic stability and integrity of the financial system, but also harm the joints of the life of society, nation, and state based on Pancasila and the Constitution of the Republic of Indonesia Year 1945 Money laundering is done is to disguise the proceeds of crime. In this case, will be appointed on the crime of narcotics and drugs. Related with the case studies in based on the Supreme Court Decision No. 1303 K / Pid.Sus / 2013 dated August 21, 2013 Jo. High Court Field No. 700 / Pid / 2012 / PT.Mdn dated January 8, 2013 Jo. Medan District Court Decision No. 1243 / Pid.B / 2012 / PN.Mdn dated October 8, 2012 also uses the mode of crimes in the banking field. Mode of crime in the banking sector, in this case, use money transfer services Money Changer (money changers). Predicate crime (crimes origin) it is a criminal offense drug, namely methamphetamine. Methamphetamine trade is carried out between cross country, namely between Malaysia and Indonesia.