Usage Of Money Research Articles

Cryptocurrency–The Internet "Dollar": Comparative Analysis of Regulations on Cryptocurrency Between Indonesia, Singapore, and China

Nowadays, the development of digital money and the numerous benefits it provides has had a significant impact on many parts of life. However, it is undeniable that these advances carry a number of concerns as well. As a result, each country has a different perspective on regulating this digital money, particularly in terms of its benefits as a payment mechanism. The purpose of this study is to compare the regulation and legality of using digital money as a payment mechanism in Indonesia, Singapore, and China by employing the normative legal research. Digital money is not allowed to be utilized as a payment mechanism in Indonesia. On the other hand, digital money is regarded as an intangible asset that can be used as a payment method in Singapore. China, on the other hand, has outlawed the usage of digital money for both investment and payment. Each country has its own considerations, and there are various things that Indonesia may learn from Singapore and China's arrangements in order to maximize the benefits of digital money.

Value co-creation and co-destruction in the first cashless society in Colombia – a middle range theory approach

PurposeThe research examines the simultaneous processes of value co-creation and value co-destruction in the implementation of a mobile banking application in rural Colombia. Rural communities experience digital and financial deficits and often become the object of technology-based initiatives. In the town, vulnerable female heads of household received a government subsidy through a mobile app, becoming an experimental group for this government–private bank collaboration. In an effort to create the first cashless society in Colombia, the bank engaged the entire town and local government to create a service ecosystem, constituted by operant resources.Design/methodology/approachThis study uses a qualitative, ethnographic approach to investigate the experiences of stakeholders in engaging with a mobile banking app. The empirical data is drawn from 34 interviews, representing different layers of this service ecosystem. The study identified and analysed actor engagement behaviours that occurred in the micro-, meso-, macro- and meta-layers of this ecosystem that shaped the perception and usage of mobile payments and digital money for rural consumers.FindingsThe study found that simultaneous manifestations of the co-creation and co-destruction of value present in different layers ultimately diminished the value proposition for this digital money system. We shed light on how actor engagement transitions across different layers of the ecosystem and that negative interactions in the meta-layer of the ecosystem can affect perceptions of value in the micro-layer.Originality/valueThis study has contributed to the service literature by integrating epistemological cultural theory into value co-creation and co-destruction construct. In doing so, we provide a broader context for understanding how actor engagement can negatively impact on the value creation process and offer a meaningful contribution to the development of midrange theory of the value creation process.

Customer Satisfaction While Using Plastic Money

In the dynamic world in accordance to technology changes taking place every hour. The suitable changes should be adopted by every economy in order to move along the changes taking place. Among all the changes that have taken place in the economy some have led to drastic changes in the transaction process. Payment business in India is on the verge of revolution. The rapid growth, development &modernization taking place in the economy, there is major scope that the majority of India’s citizens will get and demand the modern financial services that are far better convenient and superior to what their previous generation enjoyed. Nowadays we can witness that in any monetary transaction the plastic money has become inevitable part of the kind of suitable transaction and with this evolution the life has become much easier and developed to be at a better place. Plastic money is a name that is being used for the hard-plastic card used by the consumers in monetary transactions in place of bank notes. Keeping this in mind the technological changes replacing the traditional concept of monetary transactions. This research paper aimed to understand the fact that whether the customers are satisfied with the usage of plastic money in their daily routine. The present study aims to check the grievances of customers for plastic money.

Examining the Factors Influencing The Success of Mobile Money In Afghanistan

The advancement and rapid development of mobile money has created extraordinary opportunities for poor people in developing countries to help contribute in the development of the economy. Mobile money has formed an effective and efficient mechanism for the electronic transaction of money. Regardless of the remarkable improvement in the recent decades, the economy of Afghanistan has stills not improved. Citizens of the country are the poorest in the world. There is very limited accessibility to basic financial services due to the lack of e-transaction and banking services. The introduction of mobile money as an electronic transfer of money can be a partial solution to the problems being faced in Afghanistan. However, a lack of system quality, information quality and service quality assurances is an essential problem for the success and usage of mobile money which need to be improved. This research aims to determine the impact and influence of system, information, and service qualities on the use of mobile money. DeLone and McLean IS Success Model has been adapted as the theory to evaluate the success of mobile money services based on four influencing factors. Data collection through an online survey questionnaire was performed. The data has been analyzed and the finding indicate that, system quality, information quality, service quality and customer value have significant and positive impact on the success of mobile money services in Afghanistan.

A Study to Measure the Mediating Role of Trust Factor on the Relationship Between Customer Satisfaction and Attitude of Customers Towards the Usage of Plastic Money

The study aims to measure the relationship between customer satisfaction and their attitude towards the usage of plastic money and also to measure the mediating impact of trust factor on this relationship. The study was based on the perceptions of the plastic money users from capital of India i.e. New Delhi, using structured questionnaire distributed to the customers of fifty branches of public and private sector banks operating in New Delhi. Researcher has used factor analysis to determine the factors which have an influence over the customer satisfaction, regression analysis and partial regression to examine the mediating effect of the trust factor. Study revealed that the attitude of the customers towards the usage of plastic money get significantly influenced by their satisfaction towards the plastic money, and trust factor significantly mediates this relationship. Factors which affect the satisfaction level of the customers were found to be mainly; time factor, cost factor, convenient, reward points or offers, and variety of services. The study was limited to one city only, and the sample unit were the customers of the banks only.

Impacts of Financial and Digital Inclusion on Poverty in South Asia and Sub-Saharan Africa

The United Nations 2030 Agenda for Sustainable Development Goals calls for the elimination of many global challenges related to poverty. The first Sustainable Development Goal – the elimination of poverty – targets the challenges faced by the more than 700 million people who live on less than $1.90 per day. This study uses data from the 2017 InterMedia Financial Inclusion Insights surveys to examine the relationship between poverty and financial and digital inclusion across seven developing countries in South Asia and Sub-Saharan Africa. We find that increases in various measures of financial and digital inclusion are associated with significant reductions in poverty, including food insecurity. While the results are robust across the measures, some spatial heterogeneities are found for rural and urban populations. The most significant and consistent reductions in poverty are related to ownership and usage of traditional bank accounts. Access to and usage of non-bank financial institutions and mobile money accounts also significantly matters. Robustness checks for endogeneity and selection are conducted. The results provide strong evidence for the continued expansion of both traditional and non-traditional financial services and underscore the importance of digital financial services to support and sustain poverty reduction in developing countries.

Evaluation of Key Security Issues Associated with Mobile Money Systems in Uganda

Smartphone technology has improved access to mobile money services (MMS) and successful mobile money deployment has brought massive benefits to the unbanked population in both rural and urban areas of Uganda. Despite its enormous benefits, embracing the usage and acceptance of mobile money has mostly been low due to security issues and challenges associated with the system. As a result, there is a need to carry out a survey to evaluate the key security issues associated with mobile money systems in Uganda. The study employed a descriptive research design, and stratified random sampling technique to group the population. Krejcie and Morgan’s formula was used to determine the sample size for the study. The collection of data was through the administration of structured questionnaires, where 741 were filled by registered mobile money (MM) users, 447 registered MM agents, and 52 mobile network operators’ (MNOs) IT officers of the mobile money service providers (MMSPs) in Uganda. The collected data were analyzed using RStudio software. Statistical techniques like descriptive analysis and Pearson Chi-Square test was used in data analysis and mean (M) > 3.0 and p-value < 0.05 were considered statistically significant. The findings revealed that the key security issues are identity theft, authentication attack, phishing attack, vishing attack, SMiShing attack, personal identification number (PIN) sharing, and agent-driven fraud. Based on these findings, the use of better access controls, customer awareness campaigns, agent training on acceptable practices, strict measures against fraudsters, high-value transaction monitoring by the service providers, developing a comprehensive legal document to run mobile money service, were some of the proposed mitigation measures. This study, therefore, provides a baseline survey to help MNO and the government that would wish to implement secure mobile money systems.

Here and there? Mobile money and the politics of transnational living patterns in West Africa

ABSTRACT The authors examine the use of mobile money in the context of cross-border remittances in West Africa. Relying on mixed methods and a multi-sited empirical strategy they look at both the sending and receiving conditions of mobile money transfers. By looking at money as socially embedded and the role of migrants in the production of a transnational space, their results highlight that uptake and usage of mobile money for remittances are shaped by a transnational living pattern. At the same time, mobile money also contributes to strengthening and reshaping this pattern. By showing that conversion of virtual money to cash may be performed by brokers that live far away from the end recipient, the paper highlights an important gap between spatial distribution of mobile money infrastructure and the social mediation that supports e-money flows. Cash-based transactions, in turn, are shown to play a key role in the social mediation dynamic.

Information, Price, and Barriers to Adoption and Usage of Mobile Money Evidence from a Field Experiment in the Gambia

Mobile money has been heralded as a way to foster financial inclusion. While it has become popular in developing countries, most notably in African nations, there are still strong barriers to its adoption and usage. The purpose of this study is to examine the extent to which a lack of information and high prices are limiting factors in the adoption of mobile money. We implemented a simple randomized controlled trial among a group of difficult-to- access potential users: mobile phone users in The Gambia who had opened mobile money wallets but had not made a transaction. We offered meaningful price discounts on withdrawal charges, and made these discounts salient by reminding users about them every month for a period of six months. Our analysis measures different dimensions of mobile money use by drawing from administrative mobile phone company records. We also carried out a post- treatment survey to gauge knowledge about, and attitudes towards, mobile money. Our results indicate that treated individuals were substantially more aware than controls about the uses of mobile wallets and about the meaningful discounts of 15% and 30% offered. However, only a small fraction of treated individuals started using mobile wallets, and the difference was not statistically significant. Perceptions of safety, trust in the platform, and service reliability were not significantly different between treated and controls. However, treated individuals were more likely to perceive the service charges to be expensive. We interpret this as evidence that our population of interest was uninformed about the platform at large. While our treatment increased awareness about its capabilities and operation, potentially fostering its adoption, it also increased awareness of the relatively high fees it involves, which in turn limited usage. Both a lack of information and high prices need to be addressed to foster the adoption and usage of mobile money in developing countries.

Covid-19 city locked down: The need for effective cashless policy practices among nigerian populace

The study examined the influence of Covid-19 City Locked Down: The Need for Effective Cashless Policy Practices among Nigerian Populace. In order to carry out this study, two specified research objectives were formulated which research questions were used for study. The research design for this study is an Expost Facto design. The population of the study consisted of all the staff of selected banks in Uyo metropolis. Simple random sampling technique was used to select 100 respondents out of the population. The instrument used for data collection was questionnaire. The instrument was validated by two experts in Test and Measurement. Data from 100 completed questionnaires was subjected to percentage analysis. The findings and conclusion showed that the contentious usage of cashless banking options during this pandemic has the potential to transform economic activity and achieve order of stay at home and social distance to curb the spread of the virus. Therefore, trusted central banks and governments must play a key role in promoting the development of popular forms of e-banking channels during and after this period. The study also recommended that Adequate and well-functioning infrastructural facilities must be in place. More specifically, issue of electricity should be tackled by the government to facilitate the usage of electronic money. Regular awareness campaign to educate the public on the cashless banking channels and security measures that protects the users from electronic theft and effective regulatory measures should be continuously implemented at the domestic and international level. In other words, legal, regulatory and economic policy frameworks should evolve to cope with these new cashless banking products.

Discovery of The New World’s Effects on European Economy

European explorers and contemporary states have attempted to find new routes, regions due to various goals. They have explored the Americas, New World and have taken advantage of these explorations. Mines which provides direct wealth through usage of commodity money, have been extracted and transported, Americas’ plants to the continental Europe which have led to growth in population and GDP have been transplanted to the Europe. It is argued that mines have been brought to the Europe, so accumulation of capital has occurred that leads to a massive influx of cash. Also, transplanted nutritive species have provided the population growth which has been effective on GDP increase with combining the accumulated money.

A currency muddle: resistance, materialities and the local use of money during the East African rupee crisis (1919–1923)

ABSTRACTThis article combines insights on colonial monetary policies and daily practices of money use, to discuss the impact of international monetary developments on the local usage of money during the rupee crisis in East Africa (1919–1923). To do so, the paper will follow two related lines of investigation. On one hand, it will analyse the protests against the depreciation of East African cents. Even if Africans were excluded from decision-making processes connected to currency, this organized protests offer an example of how Africans could make their voices heard in the official arena in which currency matters were discussed. On the other hand, the article will investigate individual acts of appropriation and rejection of colonial currencies that African societies developed during and after the rupee crisis. These acts partly altered the boundaries of subordination imposed by the colonial regime and made the process of colonial monetization a prolonged and negotiated transition that was, in part, shaped by monetary practices on the ground.

Factors Affecting Consumer Interest In Electronic Money Usage With Theory Of Planned Behavior (TPB)

<pre><span>There are many factors that influence consumer intention to use electronic money. Based on the theory of planned behavior, behavior intention is formed by the attitude toward behavior, subjective norms and perceived behavioral control. This research aims to a<span>nalyze attitude, subjective norms and perceived behavioral control that affect consumer intention in the usage of electronic money</span>.<span>Data collection from respondents through a structured questionnaire by self-report. Some questions in the questionnaire were made on a Likert scale with five variations of the answers in very strongly disagreeable order to strongly agree. The respondents are 290 undergraduate students that have never used server-based electronic money. </span>The result showed that the attitude toward behavior did not a significantly affect the behavior intention. While the subjective norms and perceived behavioral control have a significant effect on the behavior intention <span>in the usage of electronic money.</span></span></pre>

Preventing Customer Churn in the Mobile Telecommunication Industry: Is Mobile Money Usage the Missing Link?

ABSTRACTThe paper examines the influence of mobile money usage on customer continuance intention (CCI). The study conveniently sampled 507 mobile money users to test the research model using PLS-SEM. Satisfaction, trust and active usage of mobile money were found to influence CCI. Active usage of mobile money was also confirmed as a mediator in the relationship between satisfaction and trust, on customer continuance. The study thus validated a theoretical model of customer continuance intention as it relates to mobile money usage. It has also provided a new perspective on managing customer churn in an emerging market.

New money: are we ready to take on the impacts of a cashless society? A fantasy pitch

This paper is a written account of the pitching research experience two UQ Research Scholars’ (Matthew & Marisol) underwent, as part of the UQ Summer Research Program. It elaborates the use of Faff’s (2015) pitching research framework by the duo to develop a full ‘fantasy pitch’ in studying how the usage of digital money can alter the social construct, and the value of money. Comments on how the individuals has benefited from such a learning experience can be found at the end of the paper in ‘personal reflections’.

AN EMPRICAL STUDY ON CONSUMERS ADOPTION OF MOBILE WALLET WITH SPECIAL REFERENCE TO CHENNAI CITY

In present world smart phones play an important role in the daily life of people. The technological advancement has made smartphone as devices were the mobile users can make money transaction or payment by using application installed in phone. The present study aims to explain the application and usage of wallet money endorsed by different companies and various factors that affect the consumer’s decision to adopt mobile wallet and various risks and challenges faced by the users of mobile wallet. A structured questionnaire was prepared and data were collected from 150 respondents and factors affecting the adoption and usage of mobile wallet was analysed by using ANOVA to get the statistical result from data collected.

A Study on Customer Attitude towards Usage of Plastic Money in Sivakasi

The current study makes an attempt to know the customer attitude towards usage of plastic money. Technology has drastically changed all the sectors including the financial sector, and the transactions in the banking system have also undergone a remarkable change. The traditional concept of payment through cash is replaced by the credit cards or the debit cards called ‘plastic money’ that people are using to draw money or to make purchases. This exacting research focuses on the opinion about the acceptance of plastic money, its usability and affordability while they are making an impact on its preference of use in Sivakasi. Data have been collected from 100 respondents using a structured questionnaire covering students, government employees, private organization employees and businessman. It is found that most of the respondents are using plastic money usually for shopping and online purchases and also for purchasing expensive products. It was found that customers prefer plastic money over paper money and the major benefit that the card provides to the customers is the convenience and accessibility. The major problem according to them is the bigger transactional costs and redundant formalities to acquire the cards from the financial institutions. They felt that the future of plastic money is vivid.

Small-scale individual entrepreneurs (SIEs) and the usage of mobile money (M-money) and mobile commerce (M-commerce) in facilitating business growth in Ghana

Small-scale individual entrepreneurs (SIEs) and the usage of mobile money (M-money) and mobile commerce (M-commerce) in facilitating business growth in Ghana

A Study on Future Prospects of Plastic Money in Indian Banking System

Due to the technological advancement in monetary sector, the payments in banking industry have undergone a remarkable transformation. The innovative products for creating payments have been developed subsequent to the privatization and globalization. Customers have showed their preference over the usage of the plastic money typically over a period of time within the banking process. Plastic money is a substitute to the cash or benchmark money. Plastic money refers to the credit cards or the debit cards that we tend to use to form purchases. Other different kinds of plastic cards provided by banks in India are ATM cards, Smart cards. This study presents a summary of the event of banking within the plastic cards usage trends since these are introduced in Indian banking sector. The study conjointly highlights the role of those cards as electronic payment tool to be employed by customers and discusses the penetration of those cards in replacement of cash and paper money. The study is carried out by taking a survey of 100 respondents by Convenient Sampling Technique from the city of Vellore by using a structured questionnaire and interview technique. The factors that influence for adoption of plastic money in substitution of cash has been identified which reflects the preference of customers towards plastic cards over paper money. Some future plans developed by different banks and institutions for avoiding the frauds arisen owing to the credit and debit cards also are mentioned in way that it depicts the image of its future growth and prospects in India.

Optimization of Units Movement in Turn-Based Strategy Game

Each game has an artificial intelligence that is used to fight the player, which will provide more challenge. But in some strategy games, unit movements are usually done using simple considerations. For example the rest of unit lives, unit strength, and so forth. In this study, a turn based strategy game is designed using genetic algorithm to control the movement of the enemy armies. In each turn, the enemy will move based on the potential level of produced damage to and from the opponent, the distance between the units, and the distance to the opponent’s building. The genetic algorithm’s chromosome for each unit contains the following information: the position where the unit will move, who is the target, and the distance to the armies’ centroid. Distance to centroid (midpoint) is used to force the units to remain in the set. The genetic algorithm process is used to control when and where the units will move or attack. From the test results, the genetic algorithm can create a more powerful enemy than the randomly moving enemy because it creates a higher winning chance of enemy units and acts more efficiently, in terms of the usage of money, the damage produced to the opponent, and the received damage.