scholarly journals Transformation electronic payment system as predictor on financial satisfaction

2022 ◽  
Vol 10 (8) ◽  
pp. 250-256
Author(s):  
Andro Agil Nur Rakhmad Nur Rakhmad ◽  
Dediek Tri Kurniawan Kurniawan ◽  
Yesiana Ihda Kusnayain
Keyword(s):  
Financial Services ◽  
Structural Equation ◽  
Payment System ◽  
Equation Modeling ◽  
Financial Satisfaction ◽  
Electronic Payment ◽  
Payment Systems ◽  
The Individual ◽  
And Behavior ◽  
Electronic Payment System

Digitalization in Indonesia has entered a new phase, the development of technology that makes several services run more efficiently and more flexible. Digital services that are quite complex are financial services such as electronic payment systems. Currently, the payment system is able to increase the overall satisfaction of the individual. This study examines the role of using an electronic payment system and the determinants of individual financial satisfaction as a whole. This study uses structural equation modeling (SEM) to test hypotheses regarding financial satisfaction. The results of this study prove that financial capability is able to increase financial satisfaction. However, different results show that the use of an electronic payment system does not affect financial satisfaction. This finding can expand the literature review on digital awareness, satisfaction and behavior in addressing individual financial satisfaction.

scholarly journals Electronic payment system use: a mediator and a predictor of financial satisfaction

2020 ◽  
Vol 17 (3) ◽  
pp. 246-262 ◽  
Author(s):  
Khurram Ajaz Khan ◽  
Mohammed Anam Akhtar
Keyword(s):  
Payment System ◽  
Partial Least Square ◽  
Equation Modeling ◽  
Financial Satisfaction ◽  
Electronic Payment ◽  
Financial Capability ◽  
Financial Advice ◽  
Financial Anxiety ◽  
Electronic Payment System ◽  
Positive Effect

This study investigates the direct and indirect effects of financial capability, financial advice, financial anxiety, and the use of an electronic payment system (EPS) on financial satisfaction. In the current era of digitalization and financial innovations, it seems quite unlikely that an individual remains unaffected by its use. The research was conducted in northern India on individual level using a partial least square structural equation modeling statistical technique to analyze responses collected from a close-ended questionnaire using a 5-point Likert scale. The results show that financial capability, financial advice, financial anxiety, and EPS usage have a direct positive effect on an individual’s financial satisfaction. EPS usage plays a significant mediating role, as all the financial constructs depict a positive effect on financial satisfaction via EPS use. These findings contribute to the literature by offering an understanding of the determinants of financial satisfaction in the context of a low-income developing country, as well as the vital role of using EPS in an individual’s financial satisfaction in today’s digitally driven era. The results of this study could be a useful factor for policymakers and digital service providers for implementation and control. Acknowledgement “This paper was supported by Internal Grant Agency of FaME TBU No. IGA/FaME/2019/002”

User trends of electronic payment systems adoption in developing countries: an empirical analysis

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mohmed Y. Mohmed Al-Sabaawi ◽  
Ali Abdulfattah Alshaher ◽  
M.A. Alsalem
Keyword(s):  
Developing Countries ◽  
Perceived Risk ◽  
Structural Equation ◽  
Payment System ◽  
Arab Countries ◽  
Equation Modeling ◽  
Electronic Payment ◽  
Payment Systems ◽  
Content Type ◽  
Proposed Model

Purpose Electronic payment (e-payment) systems literature analysis reveals that they are growing in developing countries; however, they are limited in the Arab countries and, more importantly, scarce in Iraq in particular. Therefore, this paper aims to investigate the factors influencing the intention of users to use e-payment systems in Iraq. Additionally, this study proposes an e-payment adoption model based on technology usage models to identify user trends toward e-payment systems. Design/methodology/approach A quantitative approach is adopted to test the proposed model. The proposed model is based on the Unified Theory of Acceptance and Usage of Technology theory. The proposed model is validated using survey data from 339 e-payment system users. Using Amos software, this study used structural equation modeling (SEM), a statistical technique for analyzing factor relationships. Findings The findings of the study indicate that performance expectancy, effort expectancy, social influence, facilitating conditions and price saving orientation influence Intention to accept the e-payment system. Similarly, habit, technology security, trust, innovation resistance, psychological empowerment also affect intention to accept an e-payment system. However, hedonic motivation and perceived risk do not affect e-payment system adoption. Originality/value The identified factors play a major role in user intentions toward the adoption of e-payment systems for financial transactions and addressing these factors will make e-payment acceptable in the future. The results of this study contribute to assisting governments or e-payment firms and decision-makers in building strategic decisions or policies that will increase the adoption of e-payment by individuals.

Factors Predicting the Behavioral Adoption of Electronic Payment System (EPS)

2021 ◽  
Vol 13 (1) ◽  
pp. 88-104
Author(s):  
Isaac Kofi Mensah ◽  
Guohua Zeng ◽  
Chuanyong Luo ◽  
Xiao Zhi-wu ◽  
Mengqiu Lu
Keyword(s):  
Structural Equation ◽  
Equation Modeling ◽  
Intention To Use ◽  
Electronic Payment ◽  
Payment Systems ◽  
Perceived Trust ◽  
Performance Expectancy ◽  
Effort Expectancy ◽  
Perceived Security ◽  
The Individual

This study explored the behavioral adoption of electronic payment systems (EPS) among college students in China based on the UTAUT framework as the theoretical foundation of the study. The analysis was conducted using the partial least squares structural equation modeling (PLS-SEM) technique. The results have demonstrated that performance expectancy, effort expectancy, and perceived security were all significant in predicting the intention to use electronic payment systems. Perceived trust however was not a significant determinant of the intention to use. The individual user past experience was found to predict significantly the performance expectancy, effort expectancy, perceived security, and perceived trust of EPS. The managerial and theoretical implications of these findings on the design and diffusion of electronic payment systems are discussed.

scholarly journals Operators of foreign payment systems and foreign providers of payment services as subjects of national payment system

2020 ◽  
pp. 14-24
Author(s):  
Aleksandr Aleksandrovich Sitnik
Keyword(s):  
Public Relations ◽  
Russian Federation ◽  
Financial Services ◽  
Legal Regulation ◽  
Payment System ◽  
Electronic Payment ◽  
Payment Systems ◽  
Financial Transfers ◽  
The Russian Federation ◽  
Payment Services

This article is dedicated to study of peculiarities of legal regulation of the work of operators of foreign payment systems and foreign providers of payment services within the framework of national payment system of the Russian Federation. The object of this research is the public relations that emerge in the process of rendering payment services by foreign providers, their provision of electronic payment means for financial transfers on the territory of the Russian Federation, functionality of the operators of foreign payment systems, and supervision by the Bank of Russia. The subject of this research is the legislative norms on national payment system. The scientific novelty consists in the fact that based on the positions of the legislation on national payment system conclusions are made on peculiarities of carrying out supervision over the operators of foreign payment systems and foreign providers of payment services. This supervision is also indirectly carried out through Russian operators of financial transfers. In a case of failure by a foreign organization to meet the requirements established by the legislation on national payment system, the operators of financial transfers loses its right to take part in international payment systems and render financial services associated with transfer of funds using electronic payment methods rendered by foreign providers. The corresponding rules were set to ensure stability of national payment system, increase the quality of payment services, protect the rights and lawful interests of payment service consumers, and finally, ensure financial security of the Russian Federation.

scholarly journals The role of Fintech in predicting the spread of COVID-19

2021 ◽  
Vol 16 (1) ◽  
pp. 1-16
Author(s):  
Mohannad Abu Daqar ◽  
Milan Constantinovits ◽  
Samer Arqawi ◽  
Ahmad Daragmeh
Keyword(s):  
Financial Services ◽  
Structural Equation ◽  
Sampling Technique ◽  
Equation Modeling ◽  
Main Concern ◽  
Snowball Sampling ◽  
Payment Methods ◽  
Digital Payments ◽  
And Behavior

This study aims to investigate the role of Fintech in predicting the spread of COVID-19 based on consumers’ Fintech perceptions and behavior before and after the outbreak of COVID-19. The study used a questionnaire-based survey distributed in different countries of the world using the LinkedIn platform for this purpose to reach the targeted population. The snowball sampling technique was used. The study targeted consumers with Fintech experience, especially in digital payments services. 507 samples were retrieved. For the analysis, the Structural Equation Modeling (SEM) was used. The study revealed novel results in predicting COVID-19 spread; these three variables (Fintech Behavior before COVID-19, Fintech Behavior after COVID-19, and Fintech Perception after COVID-19) could predict 52.5% of the variance in the dependent variable (COVID-19 Spread) (R² = 0.525, p < 0.05). The findings show that Higher Fintech perception and behavior among Fintech users will help in reducing the spread of COVID-19 by avoiding the use of contact payment methods. Contactless payment methods are the main tools in Fintech that might help in avoiding the probability of COVID-19 spread. Consumers’ Fintech perceptions and behavior are the most influencing factors that could predict the spread of COVID-19 in this study, where digital payments are the main concern. It is recommended that consumers adopt digital payment methods and tools, especially contactless payment methods, to fulfill their financial services. Other researchers are also encouraged to use the same model to predict the spread of this virus in the Fintech context.

Bankcard Payment System in the People's Republic of China

2011 ◽  
pp. 184-200
Author(s):  
Michelle W. L. Fong
Keyword(s):  
Emerging Market ◽  
Payment System ◽  
Public Confidence ◽  
Open Market ◽  
Electronic Payment ◽  
Payment Systems ◽  
Technological Support ◽  
Republic Of China ◽  
Goods And Services ◽  
Electronic Payment System

An efficient payment system is necessary to support efficient trading in goods and services within open market economies. Information technology has been used by many of these economies to achieve efficiency in their payment systems. The Peoples Republic of China, an emerging market economy, regards an efficient electronic payment system as imperative for economic liberalization, for supporting low cash usage and improving monetary control within the economy. By means of the Golden Card project, it aimed for a flexible, convenient, fast, secure and seamless electronic payment system beneficial to economic performance. Although efficiencies in the electronic payment system were achieved in some of the developed regions, there have been teething problems such as low public confidence in the system, weak technological support and inadequate regulatory framework that prevent the full realization of a supportive payment system for overall economic development.

scholarly journals The Role of Electronic Payment Methods in Facilitating Money Transactions in Erbil City

2019 ◽  
Vol 3 (1) ◽  
pp. 7-14
Author(s):  
Dina A. AL-Saji
Keyword(s):  
International Markets ◽  
Payment System ◽  
Electronic Payment ◽  
Payment Systems ◽  
Payment Methods ◽  
Good Ability ◽  
Awareness Programs ◽  
Customer Services ◽  
Financial Transactions ◽  
Electronic Payment System

The emergence of e-commerce has created new financial needs that in many cases cannot be effectively fulfilled by the traditional payment systems. All interested parties are exploring various types of the electronic payment system and issues electronic payment system and digital currency. Therefore, I conducted research on the availability and variety of electronic payment methods in Erbil city, to see the extent of using them in financial transactions. The sample of the research included three banks (Cihan, RT, Byblos). The distributed questionnaires were 40 and collected just 31 were valid to statistically analysis. The questionnaire was designed according to the five-dimensional Likert scale. The SPSS program was used for statistical analysis to extract results Based on the results, the following the most important conclusions were achieved. The results showed that banks have a great interest in electronic payment methods to attract customers and improve customer services. Electronic payment methods are limited only to customers who have a good ability to handle the Internet. According to the results, we made a number of recommendations: Banks should pay attention to issuing new and modern electronic payment methods to attract new customers and follow developments in global markets. Banks and other specialized organizations should conduct awareness programs for clients on the importance and ease of using electronic payment methods in financial transactions in local and international markets.

scholarly journals On Pooled OLS and Panel Regression Models for Assessing the Contributions of Electronic Payment System on Commercial Banks Profitability

2021 ◽  
Vol 25 (2) ◽  
pp. 61-81
Author(s):  
Kayode S. Adekeye ◽  
◽  
Kelvin E. Igwe ◽  
Olaniyi M. Olayiwola ◽  
◽  
...  
Keyword(s):  
Commercial Banks ◽  
Regression Models ◽  
Payment System ◽  
Panel Regression ◽  
Electronic Payment ◽  
Payment Systems ◽  
Effect Model ◽  
The Impact ◽  
Electronic Payment System ◽  
Panel Regression Models

This study examined the impact of electronic payment system on the profitability of commercial banks in Nigeria. Pooled OLS and Panel regression models were fitted on the data extracted from the banks’ annual reports, Nigerian interbank settlement scheme, and central bank of Nigeria website. The assessment of the contribution of the various electronic payment systems considered were measured using Breusch and Pagan Lagrangian Multiplier (LM) Test, the Hausman Test, Stationarity Test, The Schwarz Criterion, and the Akaike Information Criterion. Results obtained showed that the random effect model was more appropriate than the fixed effect model for all the electronic payment systems considered in this study. Furthermore, it was discovered that there exists a positive relationship between the electronic payment systems and profitability of the commercial banks in Nigeria.

scholarly journals The development of electronic payment systems in Ukraine and their security

VUZF Review ◽  
2021 ◽  
Vol 6 (2) ◽  
pp. 146-152
Author(s):  
Liudmyla Polovenko ◽  
Svitlana Merinova ◽  
Kateryna Kopniak
Keyword(s):  
Information Technologies ◽  
Block Diagram ◽  
Electronic System ◽  
Payment System ◽  
Electronic Payment ◽  
Security Measures ◽  
Payment Systems ◽  
Electronic Payments ◽  
Transfer Services ◽  
Electronic Payment System

The paper is devoted to the study of innovations in the market of modern payment systems. The pandemic and quarantine restrictions have accelerated the expansion of the payment infrastructure in Ukraine, which in turn raises the issue of security of electronic payment systems. Ukrainians are more actively switching to electronic payments. At the same time, the trend of growing popularity of contactless payment instruments and settlements with them continues. A comparative analysis of the security of payment systems using electronic technologies in the implementation of money transfer services in Ukraine has been performed. The components of the payment system, information security measures in the electronic payment system have been also considered. The schema of electronic payments and the block diagram of the information protection subsystem of electronic payment system have been constructed. The criteria for assessing the security of the electronic payment system have been determined. A total of fifteen safety criteria have been identified, they are divided into six groups according to the degree of safety. Six electronic system payments were used for the study and the research results have been presented in this paper. The tendencies of development of electronic payment systems in modern conditions and ways of improvement of their activity taking into account the newest information technologies have been outlined.

scholarly journals Factors Influencing the Adoption of E-Payment: An Empirical Study in Malaysia

2020 ◽  
Vol 4 (2) ◽  
pp. 53 ◽  
Author(s):  
Intan Syafinaz Mat Shafie ◽  
Yuslina Liza Mohd Yusof ◽  
Ainun Nadzirah Mahmood ◽  
Nor Irvoni Mohd Ishar ◽  
Hartini Zuhaila Jamal ◽  
...  
Keyword(s):  
Social Influence ◽  
Excellent Result ◽  
Payment System ◽  
Electronic Payment ◽  
Payment Systems ◽  
Effort Expectancy ◽  
Perceived Security ◽  
And Performance ◽  
The One ◽  
Electronic Payment System

This study examines the antecedents of the factors that influence customers to adopt the electronic payment system while making payments. Payment is the one of the element to complete the transaction while making payment. Due to the development of E-commerce, e-payment systems have been introducing. So, the use of electronic payment systems is being increasing day by day for people to complete their task quickly ineffective way. The result of the study shows that there is a relationship between dependent variables (effort expectancy and social influence) and independent variable (Adopton of e-payment). However, other variables (culture, perceived security and performance expectancy) were not significant with adoption of e-payment. Therefore, the study approves effort expectancy and social influence has a significant relationship with adoption of e-payment. Therefore, companies today that do business using electronic payment system as the medium to complete the transaction must focus more on this two variable to increase the number of people use this payment system. The increasing the number of people use this payment system will contribute to excellent result for e-commerce because e-payment system is one of the factor e-commerce becomes successful and it will give good impact to our nation’s economy.

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