Payment System Research Articles

The Influence of Internet of Things (IoT), Digital Payment Systems, and 24/7 Customer Support Services on Improving Tourist Experience at Tourism Destinations in Bali, Indonesia

This study investigates the influence of Internet of Things (IoT), digital payment systems, and 24/7 customer support services on improving travelers' experiences in tourism destinations in Bali, Indonesia. Using a quantitative approach, data were collected from 200 respondents through a structured Likert scale questionnaire, with analysis conducted using Structural Equation Modeling-Partial Least Squares (SEM-PLS 3). The results show that all three factors positively and significantly contribute to enhancing tourists' experiences, with 24/7 customer support services having the strongest impact, followed by digital payment systems and IoT. The findings highlight the importance of continuous customer support, secure and convenient digital transactions, and seamless IoT-enabled services in creating a positive tourism experience. These insights provide practical implications for tourism operators and policymakers in Bali, underscoring the need for technological investments to meet modern travelers' expectations.

Digitalization Management in the Corporate Banking Sector of Ukraine

Introduction. Digitalization in trendy banking services requires changing their relationships with corporate clients within the framework of an individual approach to each client in the context of the development of the latest information and communication technologies and Internet marketing. Therefore, improving the business customer service system based on innovative technologies in banks to increase their competitiveness and profitability remains relevant. Aim and tasks. This study aims to examine the trends in banks’ service of corporate clients in the context of the latest financial technology development and to determine the directions for forming a digitalization strategy in corporate banking in Ukraine. Results. The growth of corporate clients in the banking system of Ukraine in 2022-2024 became possible due to the digitalization of management and the implementation of electronic payment systems, which contributed to the growth in the number of open accounts, which increased by 27%, while the growth of remote servicing increased from 78% to 89% of business clients. The top 10 banks in Ukraine account for 75% of the funds in corporate clients’ accounts. Along with high reliability, the clients of these banks have come to value the digital services that banks provide that meet global standards. As a result of the growth in the volume of banking services provided to corporate clients in 2023 using digital technologies, the volume of fee and commission income of the Ukrainian banking system increased by 13% compared to 2022. Conclusions. The banking system of Ukraine is in the process of digital transformation that promotes the transformation of financial institutions into high-tech platforms capable of creating new algorithms for generating profit from digital technologies. Implementing digital transformation in the banking sector increases the number of banks` corporate clients and their satisfaction with banking products and services. This leads to an increase in the efficiency of banking activities and banks’ profitability through increased commission income. The forecasting of commission income of Ukraine’s banking system conducted in this study showed that further introduction of digitalization into corporate banking could contribute to their growth by at least 8% annually.

Exploring fintech innovations and their potential to transform the future of financial services and banking

This paper reviews the transformative potential of fintech innovations in reshaping the future of financial services and banking. The study critically examines how emerging technologies such as blockchain, artificial intelligence (AI), machine learning, and digital payment systems are disrupting traditional financial models and creating new opportunities for financial inclusion, operational efficiency, and enhanced customer experience. Through an extensive review of existing literature and industry reports, the paper identifies key trends and innovations within the fintech sector that are poised to redefine the banking landscape. The findings reveal that fintech innovations are significantly influencing customer expectations, regulatory dynamics, and competitive pressures in the financial industry. These technologies are driving the development of personalized financial products and services that cater to a broader demographic, including the underbanked and unbanked populations. The paper also discusses the challenges faced by traditional financial institutions in adapting to these changes, particularly the need for technological agility, regulatory adaptation, and the cultivation of consumer trust in digital platforms. The review underscores that fintech innovations have the potential to revolutionize the financial services industry, paving the way for a more inclusive, efficient, and customer-centric financial ecosystem. However, the successful integration of these technologies will require careful navigation of the associated regulatory, technological, and ethical challenges.

Exploring User Experiences with E-wallet DANA among Indonesian Millennials: E-satisfaction and E-loyalty Analysis

Millennials have been significantly shaped by advancements in internet technology, affecting their preferences and behaviors. This generation is characterized by comfort with digital tools, multitasking abilities, and a preference for flexibility. As technology evolves, millennials will also encounter challenges like the Fear of Missing Out (FOMO), which is particularly evident in the financial sector, which drives the adoption of digital payment systems and fintech solutions. This study analyzes millennial satisfaction with DANA, a prominent digital payment system in Indonesia, and investigate how satisfaction predicts loyalty. Using a quantitative approach, data were collected from 150 respondents, all of whom were millennials, using DANA via Google Forms on a 5-point Likert scale. This study employed Partial Least Squares (PLS) statistics to examine the correlation between customer satisfaction and loyalty. The results reveal a strong positive correlation, underscoring the importance of user satisfaction as a key driver of loyalty. These findings provide valuable insights for developing marketing strategies and enhancing customer retention in the digital payment industry.

Retail CBDC: Implications for Banking and Financial Stability

This article reviews the literature examining how the introduction of a retail central bank digital currency (CBDC) would affect a modern economy, focusing on the implications for the banking sector and for financial stability. A CBDC can improve welfare by reducing financial frictions, countering market power in deposit markets, encouraging financial inclusion, and enhancing the payment system. However, a CBDC also entails noteworthy risks, including the possibility of bank disintermediation and associated contraction in bank credit, as well as potential adverse effects on financial stability. The recycling of the new CBDC liability through asset purchases or lending by the central bank plays an important role in determining the economic consequences of the introduction of a CBDC, raising fundamental questions about the footprint of central banks in the financial system. Ultimately, the effects of a CBDC depend critically on its design features, particularly remuneration.

IMPACT OF DIGITALISATION ON BANKING SECTOR

The banking sector has been substantially changed by the fast development of digital technology. The effect of digitalisation on general financial services, client contacts, and banking operations is investigated in this article. In banking, digitalisation has brought about the automation of formerly manual procedures, therefore improving client happiness, efficiency, and operating expenses while lowering running costs. Offering 24/7 access to financial services from anywhere in the globe, services such internet banking, smartphone apps, and digital payment systems have transformed the way consumers connect with banks. Furthermore, digitalisation has helped fintech to emerge, therefore undermining established banking structures and encouraging more innovation and competitiveness. Advanced technologies such artificial intelligence (AI), machine learning (ML), and blockchain have been embraced by banks to guarantee better security in transactions, provide tailored services, and help to guide decisions. Although digitalisation has many advantages, it also brings problems like cybersecurity threats, data privacy issues, and the necessity of large technological infrastructure investment. This study also addresses its function in financial inclusion by enabling underprivileged groups to use banking services. Banks have to strike a mix between innovation and regulatory compliance, risk control, and client confidence as the digital revolution unfolds. The results of this research imply that banks must embrace digital transformation if they are to stay competitive in an economy becoming more and more digital and also meet the changing demands of tech-savvy customers.

Design and implementation of an E-commerce market place

Many small businesses and start-ups are faced with the challenge of promoting their business awareness to increase their profit margin. But many of these small businesses and start-ups cannot pay for domain registration and building of a functional website of their own. Thus, e-commerce application which can be a platform for many businesses is a good solution to this. It serves as incentive for revenue generation and business expansion in addition to promoting consumer interaction, entrepreneurship, and the growth of small businesses. Therefore, this paper aimed at design and implementation of an e-commerce application for tailors. The e-commerce system can protect sensitive customer data and secure online payment system which can serve as a platform for many businesses and start-up. This will promote business awareness, give ability to reach more customers and then improve owners profit margin. This project aims to harness the power of e-commerce marketplaces to create a tailored shopping experience for a specific target audience.

IoT Integrated Smart Parking Zone and Website with Stand-alone System and Wireless Technology

The research project works to digitalize the full parking management system, transform the manual parking methods, solve traffic and road congestion problem and show live updates of the designated parking slots. It is ecofriendly and eliminates human interaction. It also offers personal and corporate business earnings. In the project, anyone can book time slots for parking following their convenient schedule, pay bills via the online payment system, control the entrance while entering and exit gate in the parking area with the vehicle using the website system. Users do not have to use any extra identity instrument, like- RFID Cards, QR Codes etc. The system will verify them by online credentials. Moreover, people can see the live slot updates for better security. The project collaborated with 3 major technology parts which are practical hardware, software and database system. NodeMCU, Ultrasonic Sensors, Servo motors, and other technical components are used in the hardware part. PHP, HTML, JavaScript, CSS etc. codes are implemented for the website development. Firebase Realtime Database and MySQL are integrated for the cloud and local database management with the hardware and software parts for building the IoT technology environment and infrastructure.

UNPACKING THE RESISTANCE OF TRADITIONAL MARKET TO DIGITAL PAYMENT: A QUALITATIVE APPROACH

This research aims to discover how knowledgeable traditional market traders are regarding digital payment technology, what challenges traders face when trying or considering using digital payments, and how prepared traders are for traditional market digitalization programs. The research method used is qualitative research, which is conducted in-depth interviews with traditional market traders at Kebayoran Lama Market, South Jakarta. The research was conducted in June 2024 and visualized using NVIVO software. The interview results show that traditional market traders' understanding of digital payments shows that awareness, education, trust, and security factors play an essential role in adopting this technology. Overcoming the challenges of adopting digital payments requires a holistic approach that includes improving security and privacy, user education and training, developing technological infrastructure, reducing transaction costs, encouraging social and cultural influence, and increasing merchant support. Meanwhile, to increase the readiness of traditional market traders in facing digitalization, several strategic steps are needed, including comprehensive education and training to increase optimism and reduce discomfort, providing easily accessible technical support, security campaigns to explain digital payment system security measures, as well as promotions and incentives to encourage technology adoption.

Exploring resistance barriers in travelers' word of mouth for mobile payment systems: Mediating effects of trust and usage intention

Emerging technologies, such as mobile payment systems (MPS), continue to affect people from all walks of life, including travelers' behaviors. Following the innovation resistance theory (IRT) framework, the current study examined the link between innovation resistance barriers (i.e., usage, value, risk, tradition, and image) and word of mouth (WOM) for MPS usage in the travel industry. Specifically, we integrated trust theory and examined how these innovation resistance barriers affect trust, which then affects MPS usage intention and subsequently affects WOM for MPS. Following the two-study research design, multi-wave data were collected from 403 participants in Study 1 and 378 participants in Study 2. The results supported the serial mediation of trust and MPS usage intention for the relationships between usage, value, and tradition barriers and WOM for MPS. Our findings contribute to travel and consumer behavior theory and practice by explaining how and why specific innovation barriers negatively influence WOM for MPS usage in the travel industry.

Research on DRGs payment system in TCM medical institutions by taking chronic hepatitis B of TCM single disease as an example.

Research on DRGs payment system in TCM medical institutions by taking chronic hepatitis B of TCM single disease as an example.

Enhancing Payment Settlement Processes through Generative AI

The financial industry has seen transformative technological advancements, with payment systems pivotal in driving economic growth. This paper explores the potential of Generative AI to optimize payment settlement processes, focusing on improving operational efficiency, enhancing security, and minimizing settlement risks. By analyzing real-world applications, this research highlights how AI-driven innovations can revolutionize payment infrastructures while ensuring compliance with regulatory standards.

Evaluation of Blockchain Technology in the Context of Tourism Sector within the Framework of Diffusion of Innovation Theory: Challenges and Opportunities

Blockchain technology is one of the technologies emphasized both academically and practically due to the possibility of application integration in different fields. The tourism sector has an interest in blockchain technology due to its early and rapid adoption of technology. Today, blockchain technology is mainly used in finance. However, it is also preferred in tourism due to the opportunities it provides in data management, payment systems, identity management and loyalty programs. In this study, a literature review was first conducted to examine the use of blockchain technology in the tourism sector. Then, the first pioneer companies that emerged in the field of tourism were classified. The relationship between blockchain and tourism is evaluated within the scope of institutional analysis. Then, an analysis was carried out within the framework of the diffusion of innovation theory. As a result, it has been determined that blockchain technology is still developing. However, the promising and growing number of the first sectoral solutions increases the likelihood of acceptance. There is a lack of knowledge about blockchain among industry players and consumers. Integration of blockchain technology with tourism applications is ongoing, but no generally accepted standard has emerged. It has been determined that there are deficiencies regarding local and global legal regulations.

Взаимное влияние условий и оплаты труда на потребность системы здравоохранения в медицинских работниках

Healthcare quality depends on medical personnel, i.e., motivation, professional burnout, work-life balance, etc. The authors used standard research methods to investigate the relationship between performance, staff turnover, salary, and motivation in healthcare in various federal districts. The hypothesis was that the high workload and a disproportionate payment system reduce the motivation, which increases staff turnover and leads to shortage of qualified personnel. In this research, stronger labor intensity indeed contributed to lower motivation of medical personnel and triggered staff turnover. The labor intensity correlated with the level of staff turnover, but no correlation was revealed between the labor intensity and the wages. The article explains the need for a more effective labor rationing system and a more rational workload distribution.

Perceived Financial Value and the Adoption of the Cashless Payment System in the Matatu Transport Sector in Nairobi County, Kenya

Cashless payment systems have emerged as a transformative force in the global financial landscape, offering convenience and efficiency in transactions. Despite their widespread development, the adoption of these systems has been uneven, with only a select number of companies in specific countries making notable progress. This research investigated the correlation between perceived financial value and the adoption of cashless payment systems in Nairobi's Matatu sector. The central question was how perceived financial value influences this adoption. This research was grounded on institutional theory, the study used an explanatory research design with a target population of 1,176 Matatu SACCO managers and staff, from which a sample of 289 was selected using stratified and simple random sampling. Data was collected via a questionnaire, with validity assessed through Pearson Moment Correlation and reliability through the test-retest method. Quantitative analysis was conducted using SPSS. The findings revealed a significant impact of perceived financial value on cashless payment adoption (β=0.534, t=10.744, p<0.05) and a 67.9% positive correlation. The study concluded that a suitable legal and institutional framework is needed, requiring collaboration between the private and public sectors to support technological adoption among Matatu operators in Nairobi. In light of the study's findings, the researchers recommended that the lack of a suitable legal and institutional framework for e-payments necessitates a joint effort from both the private and public sectors to establish the necessary legal and institutional structures, thereby fostering an environment conducive to technology integration among Matatu operators in Nairobi and beyond.

A study on the introduction of mixed payment compensation system through top-down cost information analysis in Korea

This study aims to identify the problems of the Korean health insurance fee system and to suggest a reasonable insurance fee construction alternative using the cost analysis data of hospitals. To this end, the characteristics of the medical fee payment system and hospital cost analysis were examined, and the cost data of one national public general hospital were used for the analysis. The cost allocation criteria were divided into labor costs, material costs, pharmaceutical costs, equipment costs, and overhead costs, and a top-down cost analysis was conducted. The analysis results showed that the cost was greater than the income in the case of outpatient and inpatient treatment performance, and the analysis results on the amount of physician workload showed that the relative value of physician workload calculated based on the cost was analyzed to require an increase of 1.52 times for hospitalization fees and 1.72 times for examination fees. The main factor affecting the cost compensation rate was that when the proportion of examination fees was high, the cost compensation level increased, while on the other hand, the cost compensation rate decreased as the proportion of physician labor costs increased or the length of stay increased. In order to resolve the ongoing complaints of medical service providers under the current fee-for-service system and secure the appropriateness of health insurance compensation rates, compensation for physician fees should be induced to realize the level of cost compensation through cost-based, per-service fee calculations, and the rationality of the payment compensation system can be secured by securing autonomy of providers through bundled fees for hospital costs and changing the payment method.

Fast payment, credit and bank diversification: the impact of Pix adoption on the local credit market structure

PurposeIn this article, the research objective is to empirically investigate the effect of the adoption of the Brazilian instant payment system, Pix, on the local credit market structure and the diversification of the banking system in Brazilian municipalities.Design/methodology/approachBy analyzing the data, in this study, we compile and align data from supervisory and public sources, covering the period from 2019 to 2022 in Brazil. As of 2014, Brazil was comprised of 5568 municipalities distributed across five regions: North (450 municipalities), Northeast (1792), Midwest (467), Southeast (1668) and South (1191), according to the Brazilian Institute of Geography and Statistics (IBGE). Our analysis relies on the volume and quantity of Pix to the outstanding credit operations in Brazil.FindingsThis article provides evidence that the widespread adoption of Pix has impacted the financial structure of municipalities. This analysis of banking concentration in the country and municipalities, based on banking relationships, helped us assess whether the adoption of Pix had any correlation with the increase in credit lines. Overall, the results from the statistical tables suggest that the adoption of Pix may be having a positive impact on the local credit market structure.Originality/valueThe originality contribution of the study is to initiate an investigation into the impact of this instant payment system, Pix, on the Brazilian reality. Pix was launched in 2020, amid the COVID-19 pandemic, and had significant numbers, such as over 61% of the adult population having at least one Pix key registered in a little over a year; about 100 million people made at least one payment with Pix; and more than 1.4 billion transactions per month, with 72% between individuals, as presented by the REB 2021.

Postseparation Financial Abuse Perpetrated Through Government Systems: A Survey of Australian Mothers' Experiences of Child Support.

Financial abuse is a form of violence that can extend well beyond intimate partner relationship breakdown. A survey of 540 Australian separated parents examined how financial abuse was perpetrated, with a focus on child support and other government systems. Women reported that their ex-partners minimized and withheld child support payments to inflict direct financial harm, while interactions between the family court, taxation, and benefit payment systems were taken advantage of to threaten or control them. Findings revealed how the mandatory and complex Australian child support system provided perpetrators with a useful means of perpetrating financial abuse across households.

THE INFLUENCE OF TAM VARIABLES AND FINANCIAL LITERACY ON QRIS PAYMENT DECISIONS WITH INTEREST AS AN INTERVENING VARIABLE (STUDY ON POLITEKNIK NEGERI SEMARANG STUDENTS)

The rapid evolution of digital technology, especially in the digital economy and payment sector, has driven the widespread adoption of digital payment services utilizing QR Codes. The Quick Response Code Indonesian Standard (QRIS), introduced by Bank Indonesia and the Indonesian Payment System Association (ASPI) on August 17, 2019, serves as the national QR code standard, facilitating QR code-based payments across Indonesia. QRIS presently allows the acceptance of payment applications, whether from banks or non-banks, at various establishments. This study, involving 370 students from a population of 6,128, utilizes the Structural Equation Model (SEM) for analysis, demonstrating a robust fit with a GFI value surpassing 0.913. The findings reveal that TAM variables—perceived ease of use, perceived usefulness, perceived enjoyment, and financial literacy—significantly influence the decision of QRIS payment through interest in adopting digital payments as an intervening variable, supported by probability values below 5%

DRG payment for major pancreatic surgery: analysis of resource consumption and suggestions from a tertiary hospital in China.

To investigate the cost homogeneity within the Diagnosis-Related Group (DRG) "major operation of pancreas and liver, with general complications or comorbidities" (HB13), its cost-influencing factors, and to propose suggestions for better grouping efficacy. Medical and insurance settlement data of inpatients covered by the DRG payment system at the author's institution were collected from March 15, 2022 to December 31, 2023. The cost homogeneity of group HB13 was assessed using the coefficient of variation (CV). Clinical factors that may have an impact on hospitalization cost for patients undergoing pancreatic surgery were identified through a semi-structured interview administered to the pancreatic surgeons in author's department, their significance was analyzed using multiple linear regression, along with their impact on the cost of different service categories. A proposal to subdivide HB13 was made and evaluated by CV and t-test. The CV of the HB13 group was 0.4. Robotic-assisted surgery and pancreaticoduodenectomy were two independent factors that significantly affected the total cost. Patients undergoing robotic-assisted surgery have an average increase of 41,873 CNY in total cost, primarily derived from operation fee. Patients undergoing pancreaticoduodenectomy have an average increase of 37,487 CNY in total cost, with significant increases across all service categories. HB13 was subdivided based on whether pancreaticoduodenectomy was performed. The newly formed groups exhibited lower CVs than the original HB13. The cost homogeneity of HB13 was lower than that of other DRG groups in author's department. It is recommended to introduce a supplementary payment for patients requiring robotic-assisted surgery, to guarantee their access to this advanced technology. It is recommended to establish a new group with higher payment standard for patients undergoing pancreaticoduodenectomy. A tiered CV criterion for the evaluation of grouping efficacy is recommended to increase intra-group homogeneity, facilitating a better allocation of health insurance funds, and the prevention of unintended negative outcomes such as service cuts and cherry-picking.