scholarly journals The dawn of a mobile payment scheme: The case of Movii

2021 ◽  
Author(s):  
Carlos León
Keyword(s):  
Mobile Device ◽  
Mobile Payment ◽  
Payment Scheme ◽  
Mobile Payments ◽  
Payment Instruments ◽  
Business To Business ◽  
Over Time ◽  
Unique Dataset

Mobile wallets replicate physical wallets on a mobile device, in which users can store different payment instruments (e.g., cards, transfers) to make mobile payments. As the mobile wallet is adopted, a mobile payment scheme emerges, with its users as elements in a network of transfers. In this article, I study the mobile payment scheme of Movii— the first fintech firm in Colombia operating under a financial non-banking license for electronic deposits and payments. Based on a unique dataset of bilateral transfers between Movii’s mobile wallet users, I build, visualize and analyze Movii’s network, daily from November 18, 2017, to November 25, 2020. Besides the anticipated increase in the number of users and the value of transfers, the visual and quantitative complexity of the network of transfers increases over time. This increase in complexity is likely to be linked to the adoption of Movii’s mobile wallet, which results in users finding new ways to use mobile payments beyond person-to-person transfers, including person-to-business and business-to-business. Also, results suggest the Covid-19 pandemic accelerated the evolution of Movii’s mobile payments scheme.

The use of statistical methods in the analysis of mobile payment market in Poland

2020 ◽  
Vol 3 (2) ◽  
pp. 45-50
Author(s):  
Artur Borcuch
Keyword(s):  
Economic Growth ◽  
Economic Activity ◽  
Initial Phase ◽  
Positive Impact ◽  
Ease Of Use ◽  
Mobile Payment ◽  
Human History ◽  
Payment Systems ◽  
Mobile Payments ◽  
Payment Instruments

Payments are an inherent element of economic activity (León and Ortega 2018). However, the evolution of payment instruments and the way individuals and businesses make daily payments has undergone enormous change in human history, particularly due to main innovations in payment systems in last decades (Gandhi 2016). The last innovation in payment system concerns mobile payment. The development of mobile payments market can have a positive impact on economic growth (Leon and Rodriguez 2012). Although the Polish market of mobile payments is in the initial phase of development, it is one of the pioneering and leading in Europe and globally. The main purpose of this article is to analyze, which feature (convenience, speed, availability, ease of use, safety) of mobile payments could be the most important for users from Poland.

Mobile Payment Issues and Policy Implications

2011 ◽  
pp. 88-101
Author(s):  
Y. Kwon
Keyword(s):  
Financial Institutions ◽  
Mobile Network ◽  
Policy Implications ◽  
Mobile Payment ◽  
Mobile Payments ◽  
Korean Economy ◽  
Banking Service ◽  
Payment Instruments ◽  
The Government ◽  
Mobile Network Operators

This chapter introduces three mobile payment plans that have been launched in Korea: mobile banking service, mobile prepaid electronic cash service and mobile phone bill service. Based on the recent experiences of the Korean economy, this chapter discusses the regulatory and monetary policy issues associated with mobile payments. Mobile payments are superior to existing means of payments because of their efficiency and convenience and mobile network operators (MNOs) are on the verge of turning into non-bank financial institutions in their nature. The government needs to facilitate the crossbreed between banks and MNOs to accelerate the development of efficient payment instruments rather than hindering innovation in banking industry.

Mobile Payment Issues and Policy Implications

2009 ◽  
pp. 1699-1712
Author(s):  
Youngsun Kwon ◽  
Changi Nam
Keyword(s):  
Financial Institutions ◽  
Mobile Network ◽  
Policy Implications ◽  
Mobile Payment ◽  
Mobile Payments ◽  
Korean Economy ◽  
Banking Service ◽  
Payment Instruments ◽  
The Government ◽  
Mobile Network Operators

This chapter introduces three mobile payment plans that have been launched in Korea: mobile banking service, mobile prepaid electronic cash service and mobile phone bill service. Based on the recent experiences of the Korean economy, this chapter discusses the regulatory and monetary policy issues associated with mobile payments. Mobile payments are superior to existing means of payments because of their efficiency and convenience and mobile network operators (MNOs) are on the verge of turning into non-bank financial institutions in their nature. The government needs to facilitate the crossbreed between banks and MNOs to accelerate the development of efficient payment instruments rather than hindering innovation in banking industry.

Framework for Mobile Payment Systems in India

2009 ◽  
pp. 237-254 ◽  
Author(s):  
Mahil Carr
Keyword(s):  
Mobile Device ◽  
Mobile Network ◽  
Mobile Payment ◽  
Symmetric Encryption ◽  
Payment Systems ◽  
Technical Standards ◽  
Mobile Payments ◽  
Clearing And Settlement ◽  
The Government ◽  
Mobile Network Operators

This chapter introduces concepts, frameworks and possible models for introducing mobile payments in India. The introductory section defines mobile payments, outlines its characteristics and identifies the stakeholders. Ideally, mobile payments have to be simple and usable, universal, interoperable, secure, private, affordable and be available within the country wide as well as globally. There are various stakeholders in this context: the customer, the merchant, banks, mobile network operators, software and technology service providers, mobile device manufacturers and the government. The technology considerations are addressed in a technological landscape with a wide variety of possibilities for implementing mobile payments. Implementations can be based on different access channels to the mobile device such as SMS, USSD or WAP/GPRS. The relative advantages and disadvantages each of these channels for mobile payments are discussed. Generic architectures that employ these technologies are modeled. The mobile phone carrying debit or card information (Track 2) within the device can act as a payment instrument. It can be used to extend the present day card based payment systems. This requires an independent entity called as a Trusted Service Manager (TSM) who provides the necessary hardware and software for handling transactions. The TSM is an intermediary between the financial institutions (banks) and the mobile network operators (telecommunications industry). Essentially the TSM accepts the information from the customer owning a mobile and it routes the financial transaction to the bank or an inter-bank clearing and settlement system (using an electronic interface—a financial switch) or to a payment systems operator (in the case that the customer is using a credit card). Possible models for one TSM in the country or having several independent TSMs are outlined. The TSMs may commu nicate with the financial system using the ISO 8583 messaging standards. Finally, technical standards and security issues are addressed. A symmetric encryption scheme (based on Triple DES or AES) can offer confidentiality of mobile payment transactions. However, for assuring integrity, authentication and non-repudiation a PKI scheme is required. Cost wise a PKI enabled scheme would be more than twice as costly as a symmetric scheme due to overheads in digital certificate transmission. Low value transactions may use the symmetric encryption standards whereas high value transactions can be done using asymmetric encryption standards.

Emerging Technologies for User-Friendly Mobile Payment Applications

2014 ◽  
pp. 279-307 ◽  
Author(s):  
Vibha Kaw Raina
Keyword(s):  
Wireless Networks ◽  
Mobile Phones ◽  
Mobile Device ◽  
Mobile Communications ◽  
Emerging Technologies ◽  
Mobile Telephony ◽  
Mobile Payment ◽  
Mobile Payments ◽  
Resource Limited ◽  
User Friendly

The advancement and the evolution of mobile communications and mobile device technology have led to a remarkable growth and tremendous requirement for mobile applications that are carried on mobile phones. These technologies have lead to the deployment of business, communications, and mobile services, and hence, gave rise to mobile payments. The mobile payments are considered as the killer applications and are real-time cashless payments. Mobile payments take place with the help of mobile telephony and communications where maintaining security solutions becomes an important factor. This chapter describes the different emerging technologies carried out between a resource-limited mobile device and a resource-rich computer server over wireless networks.

Emerging Technologies for User-Friendly Mobile Payment Applications

2014 ◽  
pp. 1432-1461
Author(s):  
Vibha Kaw Raina
Keyword(s):  
Wireless Networks ◽  
Mobile Phones ◽  
Mobile Device ◽  
Mobile Communications ◽  
Emerging Technologies ◽  
Mobile Telephony ◽  
Mobile Payment ◽  
Mobile Payments ◽  
Resource Limited ◽  
User Friendly

The advancement and the evolution of mobile communications and mobile device technology have led to a remarkable growth and tremendous requirement for mobile applications that are carried on mobile phones. These technologies have lead to the deployment of business, communications, and mobile services, and hence, gave rise to mobile payments. The mobile payments are considered as the killer applications and are real-time cashless payments. Mobile payments take place with the help of mobile telephony and communications where maintaining security solutions becomes an important factor. This chapter describes the different emerging technologies carried out between a resource-limited mobile device and a resource-rich computer server over wireless networks.

scholarly journals Panel Econometric Analysis on Mobile Payment Transactions and Traditional Banks Effort toward Financial Accessibility in Sub-Sahara Africa

2020 ◽  
Vol 12 (3) ◽  
pp. 895 ◽  
Author(s):  
Cephas Paa Kwasi Coffie ◽  
Hongjiang Zhao ◽  
Isaac Adjei Mensah
Keyword(s):  
Time Series Data ◽  
Unit Root Test ◽  
Panel Cointegration ◽  
Ordinary Least Squares ◽  
Sustainable Growth ◽  
Series Data ◽  
Mobile Payment ◽  
Cross Sectional ◽  
Mobile Payments ◽  
Long Run

The financial landscape of sub-Sahara Africa is undergoing major changes due to the advent of FinTech, which has seen mobile payments boom in the region. This paper examines the salient role of mobile payments in traditional banks’ drive toward financial accessibility in sub-Sahara Africa by using panel econometric approaches that consider the issues of independencies among cross-sectional residuals. Using data from the World Development Index (WDI) 2011–2017 on 11 countries in the region, empirical results from cross-sectional dependence (CD) tests, panel unit root test, panel cointegration test, and the fully modified ordinary least squares (FMOLS) approach indicates that (i) the panel time series data are cross-sectionally independent, (ii) the variables have the same order of integration and are cointegrated, and (iii) growth in mobile payment transactions had a significant positive relationship with formal account ownership, the number of ATMs, and number of new bank branches in the long-run. The paper therefore confirms that the institutional structure of traditional banks that makes them competitive, irrespective of emerging disruptive technologies, has stimulated overall financial accessibility in the region leading to overall sustainable growth in the financial sector. We conclude the paper with feasible policy suggestions.

Towards a More Competitive Mobile Payment Industry: Standardization And Beyond

2020 ◽  
Author(s):  
Xingyu Yan
Keyword(s):  
Financial Market ◽  
Competitive Dynamics ◽  
Mobile Payment ◽  
Market Failures ◽  
Mobile Payments ◽  
The World ◽  
Chinese Industry ◽  
Definable Groups ◽  
Study Case ◽  
Bank Card

Abstract Mobile payments are becoming increasingly popular around the world. In countries like China, they appear in the form of barcode payments and are poised to replace cash and bank card payments for day-to-day consumer purchases. Against that backdrop, this paper analyzes the availability of barcode standardization as an approach to interoperability and ultimately to enhanced competition in the mobile payment industry. It uses the Chinese industry as a study case, which features a duopoly structure and shifting competitive dynamics among three definable groups of market players. This paper confirms that standardization can enhance competition and argues that, in this case, a government-mandated standardization is preferable to a voluntary one because the latter is prone to financial market failures. Along this line, this paper makes three suggestions for furthering the barcode standardization. It also advises prudence and competitive neutrality for the financial regulator and calls for more active involvements of the competition and data protection authorities.

scholarly journals MANAGING INNOVATION PROCESSES THROUGH VALUE CO-CREATION: A PROCESS CASE FROM BUSINESS-TO-BUSINESS SERVICE PRACTISE

2018 ◽  
Vol 22 (03) ◽  
pp. 1850030 ◽  
Author(s):  
GIULIA NARDELLI ◽  
MARCEL BROUMELS
Keyword(s):  
Service Providers ◽  
Organizational Trust ◽  
Business Service ◽  
Innovation Activities ◽  
Longitudinal Investigation ◽  
Business To Business ◽  
Manage Innovation ◽  
Relation Development ◽  
Innovation Processes ◽  
Over Time

Value co-creation is a specific type of collaboration that is considered to be an innovative and interactive process between end users and organizations; it aims to increase the value of a product or service. This study investigates how a network of stakeholders collaborating to manage innovation openly co-creates value over time; it contributes to the existing literature on value co-creation by taking the perspective of the network as a whole. The study follows a case in which value co-creation unfolds over time across a network of stakeholders within the business-to-business facility service context. The in-depth longitudinal investigation of a network composed of a corporate customer and its external facility service providers revealed that a network of stakeholders co-creates value over time by (i) offering an adaptable structure for the network to organize innovation activities and establish support routines, (ii) facilitating interactions to support stakeholder relation development and (iii) allowing participants to achieve self-empowerment. Therefore, stakeholder value co-creation entails the combination of single value co-creation activities and overarching network progressions that allow for learning and inter-organizational trust among stakeholders.

scholarly journals Untraceable and Anonymous Mobile Payment Scheme Based on Near Field Communication

Symmetry ◽  
2018 ◽  
Vol 10 (12) ◽  
pp. 685
Author(s):  
Raylin Tso
Keyword(s):  
Mobile Communications ◽  
Service Providers ◽  
Near Field ◽  
Mobile Payment ◽  
Near Field Communication ◽  
Internet Service ◽  
Payment Scheme ◽  
Symmetric Key ◽  
Symmetric Key Cryptography ◽  
Low Entropy

With the developments of mobile communications, M-commerce has become increasingly popular in recent years. However, most M-commerce schemes ignore user anonymity during online transactions. As a result, user transactions may easily be traced by shops, banks or by Internet Service Providers (ISPs). To deal with this problem, we introduce a new anonymous mobile payment scheme in this paper. Our new scheme has the following features: (1) Password-based authentication: authentication of users is done by low-entropy password; (2) Convenience: the new scheme is designed based on near field communication (NFC)-enabled devices and is compatible with EuroPay, MasterCard and Visa (EMV-compatible); (3) Efficiency: users do not need to have their own public/private key pairs and confidentiality is achieved via symmetric-key cryptography; (4) Anonymity: users use virtual accounts in the online shopping processes, thereby preventing attackers from obtaining user information even if the transaction is eavesdropped; (5) Untraceablity: no one (even the bank, Trusted Service Manager (TSM), or the shop) can trace a transaction and link the real identity with the buyer of a transaction; (6) Confidentiality and authenticity: all the transaction is either encrypted or signed by the sender so our new scheme can provide confidentiality and authenticity. We also present the performance and the security comparison of our scheme with other schemes. The results show that our scheme is applicable and has the most remarkable features among the existing schemes.

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