Online Payment Platform Research Articles

A Wasserstein distance-based spectral clustering method for transaction data analysis

With the rapid development of online payment platforms, it is now possible to record massive transaction data. Clustering on transaction data significantly contributes to analyzing merchants’ behavior patterns. This enables payment platforms to provide differentiated services or implement risk management strategies. However, traditional methods exploit transactions by generating low-dimensional features, leading to inevitable information loss. In this study, we use the empirical cumulative distribution of transactions to characterize merchants. We adopt Wasserstein distance to measure the dissimilarity between any two merchants and propose the Wasserstein-distance-based spectral clustering (WSC) approach. Based on the similarities between merchants’ transaction distributions, a graph of merchants is generated. Thus, we treat the clustering of merchants as a graph-cut problem and solve it under the framework of spectral clustering. To ensure feasibility of the proposed method on large-scale datasets with limited computational resources, we propose a subsampling method for WSC (SubWSC). The associated theoretical properties are investigated to verify the efficiency of the proposed approach. The simulations and empirical study demonstrate that the proposed method outperforms feature-based methods in finding behavior patterns of merchants.

Evaluating the Influence of Online Payment Interfaces on Customer Satisfaction

Online payment interfaces play a critical role in modern economies, shaping consumer behavior and offering opportunities to enhance their efficacy and security. India has witnessed a significant rise in digital payment transactions, notably BHIM UPI recording 8.03 billion transactions amounting to ₹12.98 lakh crore in January 2023 alone. By December 2022, the country had logged approximately 9.19 billion digital transactions for the fiscal year 2022-23[1]. This paper investigates the satisfaction levels of 400 respondents in Pune city regarding online payment platforms such as PhonePe, GooglePay, and Paytm, and presents actionable recommendations based on the study's findings.

Financial scarcity, psychological well-being and perceptions: an evaluation of the Nigerian currency redesign policy outcomes

BackgroundThe relationship between insufficient financial resources and psychological health has been extensively studied and established in various contexts. However, there remains uncertainty regarding the potential impact of the Nigerian naira currency redesign policy on the psychological well-being of Nigerians. This policy, which aimed to demonetize the economy and promote economic stability, involved changes to the physical appearance of some naira denominations (200, 500 and 1000). Understanding the effects of this policy on psychological health is essential for evaluating its overall societal impact and identifying potential areas for improvement in future currency redesign initiatives.MethodsThe study is a cross-sectional mixed-methods study involving 2237 respondents across the six geopolitical zones of Nigeria. Utilizing the simple random, snowball and convenience sampling technique, social media platforms (Facebook and WhatsApp) were used to recruit respondents. Variables were analyzed at descriptive and inferential levels. The qualitative component comprised seven (7) in-depth interviews with participants across the geo-political zones.ResultsThe perceptions of respondents towards the policy were diverse across different demographic groups. It was widely perceived that the timing of the policy was inappropriate, considering the challenges faced in utilizing online payment platforms and the significant inaccessibility of cash. Furthermore, the analysis revealed that demographic variables played a role in explaining systematic variations in the experience of financial scarcity and its effect on psychological health during the cash crunch that ensued as a result of the Nigerian naira currency redesign policy.ConclusionsThis study identified a significant association between the psychological inventory of financial scarcity and psychological well-being among residents in Nigeria during the cash crunch resulting from the Naira redesign policy. The findings suggest that the financial scarcity experienced by Nigerians due to the policy had a substantial impact on individuals’ psychological well-being. We recommend that a holistic approach be undertaken by policymakers to ensure that policy actions not only address economic objectives but also safeguard the mental health and overall well-being of the population.

Analysis of Influencing Factors on Farmers’ Willingness to Pay for the Use of Residential Land Based on Supervised Machine Learning Algorithms

Aimed at advancing the reform of the Paid Use of Residential Land, this study investigates the willingness to pay among farmers and its underlying factors. Based on a Logistic Regression analysis of a micro-survey of 450 pieces of data from the Sichuan Province in 2023, we evaluated the effects of three factors, namely individual, regional and cultural forces. Further, Random Forest analysis and SHAP value interpretation refined our insights into these effects. Firstly, the research reveals a significant willingness to pay, with 83.6% of sample farmers being ready to participate in the reform, and 53.1% of them preferring online payment (the funds are mostly expected to be used for village infrastructure improvements). Secondly, the study implies that Individual Force is the most impactful factor, followed by regional and cultural forces. Thirdly, the three factors show different effects on farmers’ willingness to pay from different income groups, i.e., villagers with poorer infrastructure and lower clarity of homestead policy systems tend to be against the reform, whereas farmers with strong urban identity and collective pride support it. Based on these findings, efforts should be made to increase the publicity of Paid Use of Residential Land. Moreover, we should clarify the reform policies, accelerate the development of the online payment platform, use the funds for village infrastructure improvements, and advocate for care-based fee measures for disadvantaged groups.

Customers Adoption and Satisfaction of E-Wallet and UPI Payment System: Evidence from India and Bangladesh

This article explores the impact of selected factors in adopting online payment platforms (AOPP) in India and Bangladesh by applying the extended Technology Acceptance Model (TAM). The factors considered are perceived trust (PT), perceived ease of use (PEU) and perceived usefulness (PU). The impacts of these factors are studied on the adoption and satisfaction of E-Wallet and UPI Payment System in India and Bangladesh. Data was collected from a sample of 199 individuals from India and Bangladesh who uses E-Wallet systems for online financial transactions. The authors have utilised the structural equation modelling (SEM) technique for testing the hypothesised relationships. It was found that three factors: PT, PEU and PU, have a significant impact on the AOPP, and the AOPP, in turn, has a positive impact on customer satisfaction (CS). It is a study of its own kind which identifies the factors impacting the AOPP using the extended TAM model and to establish a relationship between the AOPP and CS in the context of India and Bangladesh. This type of exploratory study can be helpful to the service providers for the development of strategies for the betterment of E-Wallet and UPI services.

An Analysis of the PayPals Corporate Strategy for Success

As a popular international trade payment tool, PayPal is loved by the masses around the world, utilizing its advanced technology, risk management and control, and customer service capabilities in the field of e-commerce payments. This paper gives information about PayPal and its current development. On the basis of the existing literature and data, the main purpose of the essay is to summarize the advantages of PayPals corporate strategy by analyzing its specific profit model and to explore the secrets of PayPals success. The analysis of PayPals success can strengthen its competitiveness in the field of online payment platforms and it also provides a better reference for other companies of the same type. Through specific theories and data from PayPal, this paper was able to conclude that Paypals greatest corporate strategic advantage is its combination of data insights, the Internet and technology, using SSL as a security system and expanding user base, gaining consumer trust and thus targeting consumer and merchant needs to create its own maximum profitability while having a sustainable competitive advantage.

FACTORS INFLUENCING THE INTENTION TO PAY ZAKAT ONLINE

This study investigates the factors influencing individuals' intention to pay zakat through an online platform. Data were collected using an online questionnaire distributed through convenience and snowball sampling methods, with a total of 222 participants comprising students and working individuals. Regression analyses were conducted to examine the proposed model, revealing that participants' attitudes and perceived behavioural control significantly influenced their intention to pay zakat online. However, subjective norms, knowledge, and trust had a negative impact on the intention to pay zakat using an online platform. This research contributes to the literature by focusing on the emerging field of online zakat payment. Findings suggest that zakat institutions can enhance the efficiency of digital payments by improving participants' attitudes and perceived behavioural control. Additionally, future research should consider incorporating variables related to IT literacy to understand user behaviour in online zakat payment better. The study's findings are relevant to various stakeholders, including governments, zakat institutions, zakat contributors, and academics. Governments can use the results to formulate policies encouraging online zakat payment. Zakat institutions can enhance their online payment platforms based on the identified factors. Zakat contributors can make informed decisions about online zakat payment using these insights. Academics can further develop theories and models of online zakat payment based on the study's findings. This study provides recommendations and acknowledges its limitations, offering valuable insights for future researchers interested in exploring this topic further.

THE PRACTICE AND HOW TO IMPROVE SERVICES INFLUENCE THE ADOPTION OF INTERNET BANKING IN VIETNAM

The fact that undeniable impact of Internet on the global economy in general and of Vietnam in particular, which internet banking is also an effective tool and is increasingly popularized and has a hunger impact on the global economy. Especially in the covid-19 epidemic, the limited contact with surfaces is recommended; the use of online payment platforms demonstrates its convenience, speed and safety for users. The researcher adopts the quantitative research method and using Smart-PLS 3.3.3 to analyze the data. This research shows 4 variables Perceived Usefulness, Perceived Ease to Use, Government Supporting and Social Influence have significant on Adoption of internet banking which are directly influenced by the variables and Trust has no significant on Adoption of internet banking. The total valid participants are 150 people currently living in Vietnam almost is big city where internet banking more popular, who are approached via convenient sampling method. With 150 participants with 100% of respondent using internet banking, 78.5% usually using service and 18.1% always using service, that showing the biggest user of internet banking in Vietnam. Based on the findings, this study has the following previous research.

How gamified cooperation and competition motivate low-carbon actions: An investigation of gamification in a popular online payment platform in China

Climate change caused by excessive carbon emission has become one of the most severe problems facing the world's ecosystems and human society. Promoting low-carbon actions is an effective means of alleviating climate problems. Gamified interactions have recently emerged as a promising and practical idea to promote low-carbon actions; however, research on the effect of gamification design on consumers' pro-environmental behavior is still at a nascent stage. This study tried to explore the impact mechanisms of two common gamified interactions, competition and cooperation, on consumers' low-carbon actions through goal-framing theory. The proposed hypotheses were tested using a structural equation model based on survey data collected from Ant Forest users on Alipay, one of the popular online payment platforms in China. The results show that while both cooperative and competitive interactions could promote users' low-carbon actions, the incentive effect of cooperation was more significant. In addition, cooperative interactions stimulated users' normative, hedonic, and gain motivations to adopt low-carbon actions, whereas competitive interactions only motivated hedonic and gain goals. The study findings provide new insights into the role of gamification in influencing low-carbon behaviors and offer practical guidance for the design of gamification for related green and low-carbon platforms.

A Study on emerging role of online payment platform in post covid era

A Study on emerging role of online payment platform in post covid era

Intention to adopt mobile-based online payment platforms in three Asian countries: an application of the extended Technology Acceptance Model

PurposeThe purpose of this paper is to explore the impact of selected factors in adopting mobile-based online payment platforms (MOPP) in three Asian countries: China, India and Bangladesh through the application of Technology Acceptance Model (TAM). The factors considered were: perceived trust (PT), perceived risk (PR), social influence (SI), perceived ease of use (PEU) and perceived usefulness (PU).Design/methodology/approachThe authors purposively selected 1,289 individuals from those three countries who regularly use MOPP as the medium of monetary transactions. The authors utilized SPSS 24 for descriptive statistics and structural equation modeling (SEM) technique through AMOS 24 for testing the hypothesized relationships.FindingsThe authors found that four factors: PT, SI, PEU and PU have significant positive impact on the intention to adopt MOPP whereas PR has insignificant negative impact on the intention to adopt MOPP.Originality/valueAs per the authors' knowledge, this is the first study ever conducted to identify the factors impacting the adoption of MOPP in more than one country. Such an exploratory study can inspire the scholars to initiate further investigations as well as the service providers to extend their service effectiveness according to the users' opinion.

The Correlation of Social Media Activity and Engagement of a Health NGO with the Outcome of Fundraising Efforts During the COVID-19 Pandemic

Objective: The COVID-19 pandemic saw the involvement of many health non-governmental organisations (NGO) with volunteering work to help reduce the burden of healthcare workers (HCW). IMAM Response and Relief Team (IMARET) is one which is a chapter under the Islamic Medical Association of Malaysia (IMAM); which is also under the umbrella of the Federations of Islamic Medical Associations (FIMA). IMARET often aids HCWs during natural and manmade disasters to help reduce their burden during challenging times by providing manpower, equipment, and logistical assistance. IMARET utilizes social media (SM) for spreading information on their activities to the public, like the COVID-19 fundraising efforts. The objective of this research is to determine the correlation between their Facebook activities and fundraising outcome. Materials and Methods: This is a cross sectional study of Facebook posts and its engagement with Billplz, an online payment platform focused during the initial COVID-19 fundraising effort. Results and Discussion: During the study period, we report 346 Facebook posts with a median (IQR) of 8.00 (6.00,9.00) posts per day. As many as 4,823 donations, median (IQR) at RM34.50(18.75,86.00) was received per day. RM3425,50 (USD 830.52) (1369.00, 8376.25) was collected per day. ‘Organic Likes’ correlated significantly with the number of donations (r=0.419,p=0.006) and amount received (r=0.355,p=0.021). Both ‘Post Reach’ and ‘Shares’ significantly correlated with the number of donations (r=0.405,p=0.008)(r=0.515,p<0.01)and amount received (r=0.373,p=0.015) (r=0.453,p=0.003) respectively. Conclusion: The number of likes, reach and shares significantly correlated with the number and amount of donations received during the initial phase of the IMARET COVID-19 fundraising effort Bangladesh Journal of Medical Science Vol.20(5) 2021 p.148-154

Factors Affecting Consumers' Perception on Electronic Payment System

The recent growth and development of technologies has led to considerable improvement in internet technologies. Largely, electronic business services are fulfilling consumer’s requirements. Electronic payment (e-payment) systems are increasingly popular in Nepal, due to the widespread use of internet for shopping and banking services as well as COVID-19 have influence people in using e-payment channels. Nepal has established a different online payment platform with other online payment services to facilitate sending and/or receiving of services for individuals or corporations via electronic channels. This study has developed a conceptual model to examine the significant factors that influence consumers’ perception of e-payment in Nepal. The findings of a sample set of respondents (384) analyzed using multiple regression analysis indicate that benefit, ease of use, security and self-essence influence Nepal consumers’ perception of e-payment systems, while trust is not significantly associated with consumers’ perception of e-payment.

Clustering Based on Kolmogorov–Smirnov Statistic with Application to Bank Card Transaction Data

Abstract Rapid developments in third-party online payment platforms now make it possible to record massive bank card transaction data. Clustering on such transaction data is of great importance for the analysis of merchant behaviours. However, traditional methods based on generated features inevitably lead to much loss of information. To make better use of bank card transaction data, this study investigates the possibility of using the empirical cumulative distribution of transaction amounts. As the distance between two merchants can be measured using the two-sample Kolmogorov–Smirnov test statistic, we propose the Kolmogorov–Smirnov K-means clustering approach based on this distance measure. An approximation step is conducted to ensure the feasibility of the proposed method even for large-scale transaction data, and the associated theoretical properties are investigated. Both simulations and an empirical study demonstrate that our method outperforms feature-based methods and is computationally efficient for large-scale data sets.

Background and Implications of China's Central Bank Digital Currency: E-CNY

The People’s Republic of China is a leading experimenter in central bank digital currencies (CBDCs). This paper explores the current background, deployment, features, potential impacts, challenges and legal concerns of China’s CBDC, the electronic yuan, or E-CNY. This paper explains the potential significance of what is known and not known about E-CNY with a particular focus on how E-CNY might fit into existing legal and economic systems, both within China and internationally. Section 1 discusses the development of E-CNY, including known technical features, institutional framework, and E-CNY’s intended role in China’s domestic monetary system. Section 2 explores China’s motivations for developing and deploying E-CNY most of which are focused on domestic concerns, though there are important international dynamics as well. Section 3 outlines a number of potential impacts of E-CNY, including domestic impacts on online payment platforms such as Alipay and WeChat Pay and commercial banks as well as impacts on international settlements and countries involved in the Belt and Road Initiative. Section 4 addresses key challenges and concerns around E-CNY, particularly as it pertains to information access and sharing, privacy protections, due process rights, and various technical issues. The last section examines E-CNY in the context of additional legal paradigms, including taxation, antitrust, anti-money laundering, and fraud prevention.

Antecedents Affecting Chinese Customer Satisfaction and Behavioral Intention on O2O Delivery Application Service

Purpose In this study, O2O (online to offline) delivery application is used to verify the cognitive process of online application service. With the relatively low cost of O2O market in China, O2O is producing a synergistic effect with the relatively low cost of the China market. In addition, O2O service operated by Baidu, Alibaba, and Tencent (BAT) occupies a large scale in relevant overseas markets. In China, due to the continuous development of e-commerce, China’s Alipay and Wechat online payment platforms have driven the growth of the O2O market. Design/Methodology/Approach The technology acceptance model (TAM) explains the behavior of user acceptance and analyzes the factors influencing user acceptance. Although consumers have used many of the online services of mobile applications, we analyze antecedents affecting the satisfaction on O2O delivery service. According to our finding that offline distribution services to further promote the use of online distribution services, we can understand the consumers’ preference for O2O service consumers and re-use intention. Findings The results of this study show that the information quality and information security of O2O delivery application can affect customers’ satisfaction. Based on TAM, O2O delivery application plays a significant role in locking into such services forming both the perceived ease of use and behavioral intention. Research Implications In order to meet customers, based on the characteristics of the O2O model, offline stores have to focus on improving the service quality of distribution servicesbecause consumers pay more attention to the quality of products themselves and to the additional behavior services provided by service delivery personnel.

Based on the construction of financial management information platform of colleges and universities in 5G environment——Take Guangzhou Nanyang Polytechnic Vocational College as an example

With the rapid development of wireless technology, mobile communication service has experienced the development from voice service to mobile broadband data service, mobile communication network has gradually evolved from 3G, 4G to 5G, namely the fifth generation of mobile communication network.With the advent of 5G technology, the new generation of information technology has accelerated the reform of higher education system, and the construction of an information platform for financial management in colleges and universities has become an important research topic for the information construction and financial work in colleges and universities.Under the background of “Internet +", the construction target of “financial management informatization platform” from the construction stage of “smart campus” is being promoted to the informatization application service of “smart campus” and “Internet of Things +", and the development of financial management informatization in colleges and universities is changing from business process-oriented to service informatization.Financial resources are transformed from digitization to digitization, and the integration, analysis and utilization of data are emphasized to provide personalized services. The main network scenarios of 5G can be summarized as continuous wide area coverage, high capacity of hot spots, large connection with low power consumption and high reliability with low delay. Now that 5G technology is on the way, in the connected society of the future, everyone and everything will be connected to each other, thus achieving the so-called “Internet of everything”.In this paper, using the method of literature research, field survey and data analysis of guangzhou nanyang technological vocational college financial management informationization development research and analysis, combining the present situation of the financial management informatization, with the help of a financial management concepts and network information technology, knowledge, financial software system using financial management information platform for the school financial management software for scientific and standardized management, based on a student online payment platform, financial reimbursement platform, campus all-in-one-card platform, improve the service efficiency of funds, the school to further enhance the level of school financial management.

The Role of E-Marketing on Small-Scale Businesses: A Performance Review in Bodija Area of Oyo State, Nigeria

The aim of the study is to investigate the role of E-marketing on small-scale businesses performances in and around Bodija area of Oyo state. Descriptive cross sectional survey research design was used to analyse responses from small business owners in Bodija area of Oyo state. While simple random sampling was employed in selecting respondents, the instrument used was Likert scales based on questionnaire ranging from strongly disagree to strongly agree. A total of two hundred and nine (209) were successfully retrieved and analyzed using an interviewers-administered method. SPSS was used in the analysis of the data. The results are as follows; e-marketing has a significant relationship on profitability in and around Bodija area of Oyo State, online payment platform has a significant relationship on customers' satisfaction in and around Bodija area of Oyo State ,online advertisement has a positive impact on productivity around Bodija area of Oyo State, Customer support services have a significant influence on corporate brand image around Bodija area of Oyo State. These results demonstrated that E-marketing plays a significant role in the performances of small-scale businesses in and around Bodija area of Oyo state. The recommendations based on the results of this study are that: 1. Small-scale business owners should be regularly trained on how to use e-marketing platforms like social media. 2. Businesses should leverage more on social media to advertise their various businesses. 3. Business owners should use the online platform to attract new customer groups, 4. Business owners should be on the lookout for new technologies, which they can use to boost their businesses, 5. Business owners should invest in Internet and use this platform to reach customers across the globe, 6. Business owners should seek for ways to improve on their online product and service offering, 7. Business owners should ensure there is a feedback mechanism for online purchase of their product.

Structural Holes in the Multi-Sided Market: A Market Allocation Structure Analysis of China’s Car-Hailing Platform in the Context of Open Innovation

Car-hailing platform governance is an emerging topic of research and practice. The governance of the data-driven platform economy is challenging the research paradigm of competition regulation in the context of open innovation. This research is trying to reveal the market allocation structure of China’s online car-hailing industry from the perspective of personal data allocation by the study of Application Programming Interface (API) of sample platforms. On the basis of the networked nature of personal data allocation via APIs, this research constructs a mathematical model of the edge weight of data resource connections between platforms. Furthermore, this research optimises the structural hole analysis of complex networks to discuss the state of personal data resource allocation in China’s car-hailing industry. Results reveal that there are obvious structural holes within the sample network. When compared with related indicators, we found that accessing personal data resources is an essential component of the sample network competition capability and sustainable innovation. Social media platforms and online payment platforms more greatly impact car-hailing platform competition than other types of platforms within the multi-sided market context. This research offers a research perspective of personal data allocation for further study of competition, regulation and sustainable innovation of data-driven platform economies.

Foreign Students’ Intention towards a China’s Third Party Mobile and Online Payment Platform Based on Alipay

As the times progressed, so many features of smartphones that are developed by producers in manufactures. Hardware and software are fused to deliver comfort and increase the productivity of users’ smartphone. The example of software that can help users for a convenient transaction is Alipay and Wechat Pay, a China’s third-party mobile and online payment platform developed by Alibaba Group and Tencent respectively. This research aimed to observe ex-pats’ motives in the use of a Chinese third-party online payment platform with the sample was some foreign students in Nanjing as the Alipay users. Based on Unified Theory and Acceptance and Use of Technology (UTAUT) which consists four key constructs (effort expectancy, performance expectancy, social influence, and facilitating conditions), the results found that behavioral intentions were significantly carried out by effort expectancy, performance expectancy, and facilitating conditions, while social influence factors were found to be insignificant.