Payment Habits as a Determinant of Retail Payment Innovations Diffusion: the Case of Poland

2013 ◽  
Vol 1 (2) ◽  
pp. 86-102 ◽  
Author(s):  
Janina Harasim ◽  
Monika Klimontowicz
Keyword(s):  
Financial Institutions ◽  
Success Factors ◽  
Market Development ◽  
Opportunities To Learn ◽  
Payment Systems ◽  
Global Trends ◽  
Innovative Methods ◽  
Preferred Providers ◽  
Polish Experience ◽  
Empirical Foundation

New and innovative methods for electronic funds transfer are emerging globally. These new payment tools include extensions of the established payment systems as well as new payment methods that are substantially different from traditional transactions. They have made the retail payments faster, cheaper, easier and more convenient for customers. Simultaneously, these payment innovations influence retail payment market around the world. During the last few decades it has changed remarkably and has become a very competitive one. Financial institutions are increasingly in competition with technology companies and other organizations to be the preferred providers of consumer payment services. There are huge differences between retail payment markets in developing countries and those in the mature markets. Payment habits are mostly influenced by local cultural drivers, so global trends are few and far between. Nevertheless, as consumer expectations and habits are becoming more homogenized and financial institutions start to be interested in new markets, the opportunities to learn from the experiences of other economies appear. The paper discusses theoretical and empirical foundation of retail payment innovations diffusion, presents the retail payment taxonomy and the results of a survey held in Poland in 2013. It is concluded that Polish experience can be assessed as a benchmark for searching determinants of retail payment markets development. However, copying success factors for sustainable market development is rather impossible with regard to payment culture, experiences and habits.

Successful Cross-border Acquisitions of Latin American Financial Institutions: Identifying Success Factors

2012 ◽  
Vol 4 (3) ◽  
pp. 347-367 ◽  
Author(s):  
C. Bülent Aybar ◽  
Wendy M. Jeffus ◽  
John C. Edmunds
Keyword(s):  
Latin American ◽  
Financial Institutions ◽  
Success Factors ◽  
Market Access ◽  
Shareholder Wealth ◽  
Wealth Effects ◽  
Cross Sectional ◽  
Foreign Companies ◽  
Study Methodology ◽  
Insight Into

This article examines the shareholder wealth effects for foreign companies that announce acquisitions of financial institutions in Latin America. We examine data for 636 transactions for the period 1985–2009. We employ event study methodology coupled with a cross-sectional regression to determine if shareholders of the acquiring firm receive positive returns. The results indicate that acquirers receive positive returns when the acquisition involves a target bank in a market with low market access, high market risk, and greater control post acquisition. These findings offer improvements on previously examined variables and provide insight into a market not sufficiently examined in prior research.

scholarly journals EVALUATION OF THE ACTIVITIES OF NON-CREDIT FINANCIAL INSTITUTIONS IN THE MONETARY CIRCULATION OF RUSSIA

2019 ◽  
pp. 176-181
Author(s):  
E. Bondarovich ◽  
A. Zhilkina ◽  
O. Revzon
Keyword(s):  
Financial Institutions ◽  
Russian Federation ◽  
Unsolved Problem ◽  
Payment Systems ◽  
Economic Agents ◽  
Russian Economy ◽  
The Russian Federation ◽  
Definition Of ◽  
Monetary Circulation ◽  
Money Circulation

The problematic issues, associated with the functioning of non-credit financial institutions, have been considered. Particular attention has been paid to their activities, in terms of money circulation to organizations-operators of payment systems, in terms of credit to microfinance organizations. Presently, issues of evaluating the activities of non-credit financial institutions are the least developed in the scientific and methodological аspects. Based on the role and importance for monetary and credit circulation in the Russian Federation, ensuring the continuity of payments within the Russian economy and beyond, an approach to the currently unsolved problem as the definition of criteria for the effectiveness of these economic agents has been offered. According to the results of the study, directions have been proposed for improving the assessment of the activities of non-credit financial organizations.

State of third party logistics providers in China

2014 ◽  
Vol 114 (9) ◽  
pp. 1322-1343 ◽  
Author(s):  
Albert Wee Kwan Tan ◽  
Zhao Yifei ◽  
Dali Zhang ◽  
Olli-Pekka Hilmola
Keyword(s):  
Success Factors ◽  
Southern China ◽  
Cost Effective ◽  
Developed Countries ◽  
Policy Implications ◽  
Third Party ◽  
Third Party Logistics ◽  
Logistics Industry ◽  
Content Type ◽  
Global Trends

Purpose – The purpose of this paper is to identify global trends in the third-party logistics (3PL) industry, and with that to find out where the opportunities and challenges lie, what the critical success factors are, and how companies can position themselves well in China. As there is currently very limited knowledge about the 3PL industry in China, this study also intends to shed light in this area. Design/methodology/approach – The study is conducted through focus group interviews with senior executives of leading 3PL companies in China followed by a survey with 70 logistics companies. Findings – The key strengths of the logistics industry in China include numerous factors such as good connectivity and new infrastructure, while its main weaknesses are a shortage of qualified staff and slow adoption of technologies. There are a number of concerns and issues raised, such as lack of qualified staff, oversupply of warehousing space in China, competition from the influx of foreign 3PL companies to China, and regulations on free trade zones, seaports and airports, all of which may have policy implications. Research limitations/implications – As most of the logistics companies in the study are located and dominating in the Eastern and Southern China, it may be useful to conduct similar study in the new emerging western and central regions of China for comparison. Practical implications – Managers and investors will appreciate the challenges and opportunities in logistics services in China and have a better insight into Chinese logistics development. Originality/value – While China has been viewed as a cost effective place for manufacturing, the logistical costs in China are still very high as compared to other developed countries. This research will highlight the key reasons for the high logistical cost in China.

scholarly journals Data analysis in Cashless Payment Systems

2021 ◽  
Vol 320 ◽  
pp. 03005
Author(s):  
Alexey Bataev ◽  
Antonina Glushkova
Keyword(s):  
Neural Network ◽  
Artificial Intelligence ◽  
Information System ◽  
Data Analysis ◽  
Financial Institutions ◽  
Comprehensive Analysis ◽  
Investment Model ◽  
Payment Systems ◽  
Payments System

The use of artificial intelligence in the financial sphere are analyzed in this study. One of the possible areas of using neural network in financial institutions is the system of cashless payments. One of the main problems in introducing innovative projects is to evaluate the efficiency of the implemented information system. In this regard, the construction of an investment model that allows evaluating the implementation and use of artificial intelligence in the cashless payments system of financial institutions is proposed in this article. Based on the constructed model, an analysis is made of the dependence of the effectiveness of the system with artificial intelligence on the size of the client base of a credit organization, while the minimum and maximum possible efficiency parameters of the implemented system are evaluated. Based on a comprehensive analysis, recommendations are given on perspectives of introducing such systems into credit organizations.

scholarly journals Perception of Palm Oil Clusters Development in Cameroon

2017 ◽  
Vol 2 (3) ◽  
pp. 32-34
Author(s):  
Belinga Thierry ◽  
Zhou Jun ◽  
Wei Long ◽  
Gahe Zimy Samuel Yannick ◽  
Ngomah Le Temps
Keyword(s):  
Regression Model ◽  
Financial Institutions ◽  
Palm Oil ◽  
Oil Production ◽  
Research Paper ◽  
Market Development ◽  
Wine Production ◽  
Palm Wine ◽  
The Government

The aim of this research paper is to find the factors that influence the development of palm oil clusters in Cameroon using a survey made among 296 individuals. From the regression model, we find that palm oil production, agribusiness schools, market development, palm wine production and clusters development by area have a negative and significant impact on palm oil clusters development in Cameroon, implying that the government and financial institutions have to do more in order to have the palm oil clusters well developed in Cameroon.

scholarly journals Impact of the Coronavirus Crisis on the Dynamics of Consumer Prices in Russian Regions

2020 ◽  
pp. 64-75
Author(s):  
Natalia Roslyakova ◽  
◽  
Lyudmila Dorofeeva ◽  
Keyword(s):  
Supply And Demand ◽  
Modern Society ◽  
Food Products ◽  
Market Development ◽  
Price Dynamics ◽  
Russian Regions ◽  
Consumer Market ◽  
Global Trends ◽  
First Case ◽  
The Impact

The coronavirus infection, which has rapidly spread around the world and started determining global trends, has transformed the life of modern society. Over the past months, in the acute phase of restrictive measures, there have been both explosive growth in demand (digital goods) and negative trends connected with bankruptcies and cuts of salaries. All these fluctuations in supply and demand had an active impact on prices of various segments of the consumer market. The purpose of this paper is to analyze the dynamics of prices in the consumer market of Russian regions and assess possible trends in the postcrisis period, taking into account regional characteristics. In order to do this, the authors assess the main trends in the market of Russian regions at the beginning of the crisis; determine the price dynamics in the period 2019–2020 for separate market segments; specify the nature of certain factors associated with the impact of the crisis on different types of markets; identify promising trends in price dynamics. As a result of the research for five groups of regions with different characteristics of socio-economic conditions and the level of market development the following conclusions were made: 1) a slowdown in the growth of prices for services for the vast majority of regions was revealed; 2) for the Depression cluster, intensive growth in prices for services is caused by weak market development, high costs and concentration on the segment of necessary services (low elasticity in price and income); 3) with similar price dynamics in the non-food segment of Above-average and Below-average clusters, various reasons are specified. In the first case, there is a delayed demand due to rising prices, in the second there is hidden inflation, when people do not have money for goods. For a number of regions, there is a trend towards the emergence of new agents in the markets, due to rising prices (Depression for non-food products, Above-average and Below-average for food products).

scholarly journals PathShuffle: Credit Mixing and Anonymous Payments for Ripple

2017 ◽  
Vol 2017 (3) ◽  
pp. 110-129 ◽  
Author(s):  
Pedro Moreno-Sanchez ◽  
Tim Ruffing ◽  
Aniket Kate
Keyword(s):  
Financial Institutions ◽  
Building Block ◽  
Payment Systems ◽  
The World ◽  
Atomic Transactions ◽  
Credit Network

Abstract The I owe you (IOU) credit network Ripple is one of the most prominent alternatives in the burgeoning field of decentralized payment systems. Ripple’s path-based transactions set it apart from cryptocurrencies such as Bitcoin. Its pseudonymous nature, while still maintaining some regulatory capabilities, has motivated several financial institutions across the world to use Ripple for processing their daily transactions. Nevertheless, with its public ledger, a credit network such as Ripple is no different from a cryptocurrency in terms of weak privacy; recent demonstrative deanonymization attacks raise important concerns regarding the privacy of the Ripple users and their transactions. However, unlike for cryptocurrencies, there is no known privacy solution compatible with the existing credit networks such as Ripple. In this paper, we present PathShuffle, the first path mixing protocol for credit networks. PathShuffle is fully compatible with the current credit networks. As its essential building block, we propose PathJoin, a novel protocol to perform atomic transactions in credit networks. Using PathJoin and the P2P mixing protocol DiceMix, PathShuffle is a decentralized solution for anonymizing path-based transactions. We demonstrate the practicality of PathShuffle by performing path mixing in Ripple.

Innovative Methods in Financial Risk Management

2019 ◽  
pp. 141-163
Author(s):  
Ozge Doguc
Keyword(s):  
Risk Management ◽  
Financial Institutions ◽  
Financial Risk ◽  
Global Financial Crisis ◽  
Financial Risk Management ◽  
Innovative Methods ◽  
Innovative Solutions ◽  
Assessment And Monitoring ◽  
New Methodologies ◽  
The Global Financial Crisis

The regulations that emerged from the global financial crisis of 2008 and fines that were imposed afterwards triggered a wave of changes in how risk is managed. Innovative methods for risk management became more important as the standards for compliance and management tightened. Institutions also invested in strengthening their risk cultures and involved their boards more closely in key risk decisions. This chapter discusses major risk factors for financial institutions and the innovative solutions that they introduced to manage risk better. Innovative solutions in risk management are not limited to advances in technology such as machine learning and data mining, but also include new regulations, better monitoring, and stricter auditing. Financial institutions improved boards' oversight of risk, created new committees for risk assessment and monitoring. and developed new methodologies for risk management.

Global Trends of Payment Systems and the Next-Generation RTGS Project in Japan

2011 ◽  
pp. 109-127 ◽  
Author(s):  
Masaaki Nakajima
Keyword(s):  
Hybrid Systems ◽  
Structural Changes ◽  
Early Stage ◽  
Evolutionary Process ◽  
Integrated Systems ◽  
Next Generation ◽  
Payment Systems ◽  
Global Trends ◽  
Global Trend ◽  
Bank Of Japan

This chapter investigates the evolutionary process of the payment system against the background of structural changes. At the early stage, most payment systems were Designated-Time Net Settlement (DTNS) systems. Then, Real-Time Gross Settlement (RTGS) systems were introduced, which had the merit of reducing settlement risks. This first trend was followed by the deployment of Hybrid systems and Integrated systems. The Bank of Japan (BOJ) is proceeding with the Next-Generation RTGS (RTGS-XG) project. This project is regarded as a typical enhancement of payment systems following the global trend. The features and benefits of the RTGS-XG are closely analyzed.

Russian Labour Market: Trends and Transformations

2020 ◽  
Vol 26 (10) ◽  
pp. 120-126
Author(s):  
A. Tomskikh ◽  
Keyword(s):  
Economic Development ◽  
Labour Market ◽  
Russian Federation ◽  
Supply And Demand ◽  
World Market ◽  
Market Development ◽  
Global Trends ◽  
The Russian Federation ◽  
The Government

he article deals with the multifactorial aspects of the labour market development as a special economic category: stages of development, impact of the economic crisis, trends during the pandemic, movement of employment and unemployment, etc. The analysis of the situation on the labour market, both in the whole world, and in the context of Russia and its subjects, is carried out. Trends in the development of the labour market are shown through the prism of global trends in economic development and the specifics of decision-making at the level of the Russian Federation since 1989, the period of transformation of its socio-economic development and entry into the world market. Much attention is paid to the situational response of the labour market to the global coronavirus pandemic in terms of analyzing the supply and demand of vacancies, salaries and their dynamics over the past year of the largest recruitment portal in the country. The risk sectors of the labour market development are shown for the territory of Russia as a whole, federal districts and subjects of the federation. The conclusion is made about sufficient decisions of the government of the Russian Federation in the pre-crisis period and forced anti-crisis actions during the pandemic in the conditions of long-term sanctions by key world actors. The measures necessary for the adoption of federal decisions to reduce the strain on the labour market in the long term, taking into account the reduction in the economy’s income, are outlined: closing more territories or sectors of the labor market to foreign labour, organizing jobs at real enterprises, optimizing the flow of domestic labour migration and new technological solutions in the economy

Sign in / Sign up

Export Citation Format

Share Document