Electronic Payment Systems in Developing Countries for Improved Governance System

2010 ◽  
pp. 126-149 ◽  
Author(s):  
Hakikur Rahman
Keyword(s):  
Developing Countries ◽  
Payment System ◽  
Electronic Payment ◽  
Payment Systems ◽  
Economic Activities ◽  
Governance System ◽  
On Demand ◽  
General Overview ◽  
Varying Environments ◽  
Financial Transactions

Payment system is an age-old system of transfer of properties. It has taken different forms of transactions depending on demand, usage, acceptability, tradition, methods, technology and availability. Payment systems varied from commodity transfers, physical financial transactions (traditional payment systems) to virtual payment transactions (electronic payment systems). Electronic payment systems have also taken various forms in varying environments and societies. This chapter provides a general overview on various electronic payment systems, focusing developing countries and tried to relate electronic payment systems as an enabler of financial empowerment. In this context, this chapter reiterated that by raising economic activities via electronic means, as a component of e-commerce, could enhance the electronic governance system of a country. It has also put forward available issues, challenges, methods and tools needed to implement electronic payment systems, especially focusing to developing countries.

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.

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.

Electronic Payment

2011 ◽  
pp. 1341-1348 ◽  
Author(s):  
Marc Pasquet ◽  
Sylvain Vernois ◽  
Wilfried Aubry
Keyword(s):  
Specific Form ◽  
Historical Evolution ◽  
Future Trends ◽  
Electronic Payment ◽  
Payment Systems ◽  
Electronic Money ◽  
Main Thrust ◽  
General Overview ◽  
The World ◽  
General Architecture

Money has two main forms nowadays: the fiduciary money (coins, banknotes…) and the scriptural one (electronic or virtual). To pay goods, both are used. The electronic money, one specific form of the scripting money, is more and more used everywhere in the world. Electronic payment has many particularities: specific infrastructure, equipment, and software, new forms of regulations, technical agreements, normalizations, fraud limitations… The objective of this chapter is to present a general overview of electronic payment. The background section presents its historical evolution. In the main thrust, the chapter focuses first on the general architecture of electronic payment. Second, different authorization mechanisms for the processing of the banking transaction and for fraud prevention are detailed. Future trends stress the different research topics that should be investigated, especially concerning the SEPA program (Single Euro Payments Area), which will harmonize bank payment systems in Europe through 2012.

scholarly journals Effect of Comparative Study of Payment System between Malaysia and Republic of Tajikistan

2017 ◽  
Vol 3 (2) ◽  
pp. 131-136
Author(s):  
Firdavsi Kholiqov ◽  
Sara Ramzani ◽  
Valliappan Raju
Keyword(s):  
Research Study ◽  
Payment System ◽  
Electronic Payment ◽  
Payment Method ◽  
Payment Systems ◽  
Developing Nation ◽  
Training Courses ◽  
The Republic ◽  
And Training ◽  
Day By Day

Purpose: The worldwide payment system has another alternative called e-payment system now. There are a numbers of different aspects on payment system in two mentioned countries. To utilize the arrangement of e-payment, we can spare our time, assets and powers throughout our day by day to exercise the daily e-payment method. The larger part of developing nation is utilizing this e-payment system these days, on the grounds that the e-payment will push the economy to drive speedily. Author has used quantitative method data collection, whereby questionnaire will be provided to respondents. The populations for this research study are financial organizations in both of countries. The target markets are 59 organizations and for data analyzing author will use SPSS technique. Today, the structure of payment system is electronic-payment systems.  It is believed that the result of this study significantly support e-payment system. Using cash, cheque and other kind of payment methods are very less observed in Malaysia. Author has tried to find what are the comparative aspects of payment system between two countries and what are the benefit of e-payment system which used in Malaysia and unused in Tajikistan. This study will help the payment system of Tajikistan to develop and transform to new payment system accordingly. Therefore, this research will deliver as educational subject and training courses to the Republic of Tajikistan.

scholarly journals The improvement of statutory and legal regulation of payment system of the Republic of Kazakhstan

2021 ◽  
pp. 97-103
Author(s):  
B. B. Amangozhayeva ◽  
S. S. Abdíldín ◽  
Sh. D. Kydyrbaeva
Keyword(s):  
Information Transfer ◽  
Shadow Economy ◽  
Legal Regulation ◽  
Payment System ◽  
Payment Systems ◽  
Regulatory Documents ◽  
National Bank ◽  
The Republic ◽  
Financial Transactions ◽  
Modern Technologies

The development of payment systems implies continuous improvement, updating and updating for all their components. This article discusses the issues of functioning, regulatory regulation and further transformation of the payment systems of the Republic of Kazakhstan, taking into account modern realities. The main legislative acts, regulatory documents and requirements regulating the activity of the payment market are considered. The national payment system of the Republic of Kazakhstan, which is in contact with all aspects of the economic activity of the state, is today a strategically important channel that makes it possible to conduct clear and high-quality financial transactions. Currently, the National Bank of the Republic of Kazakhstan and the Agency for Regulation and Development of the Financial Market are taking measures to implement the program for the development of the national payment system until 2025. The program is implemented to address the issues of combating the shadow economy and increasing the share of non-cash payments. The lag in the development and improvement of payment systems leads to the destabilization of the financial sector and reduces the competitiveness of the national economy. This determines the demand for quicker payment processing, expansion of non-cash payments, the introduction of modern technologies and methods of information transfer, increase the security of information systems, to ensure effective and reliable service to all participants. At the same time, the main stages and key tasks of the implementation of the program for the development of the national payment system of the Republic of Kazakhstan are analyzed.

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.

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.

A study on electronic payments and economic growth: Global evidences

Accounting ◽  
2021 ◽  
pp. 409-414 ◽  
Author(s):  
Abdullah Aldaas
Keyword(s):  
Economic Growth ◽  
Electronic Payment ◽  
Payment Systems ◽  
Electronic Payments ◽  
Financial Transactions ◽  
The Relationship ◽  
Country Specific

This study focuses on the relationship between economic growth and electronic payment systems based on a sample of countries from across the globe. The study is relevant considering the importance of payment systems in financial transactions and also because, being an evolving area, it is not much studied in literature. The study initially refers to the concept, types and other features of electronic payment systems and later on analyses the macroeconomic data from countries across the globe. No concrete evidence is found supporting or rejecting the relationship between electronic payment systems and economic growth which can be inferred as country specific issue.

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.

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