Towards an Ultimate Cashless Society and Potential Collaboration Between Blockchain and E-Payments

2022 ◽  
pp. 176-195
Author(s):  
Lee Peng Foo ◽  
Chooi Ling Lai ◽  
Daniel Boon Yann Ooi ◽  
Zheng Ying Khoo
Keyword(s):  
Online Banking ◽  
Payment Systems ◽  
Qr Codes ◽  
Cross Border ◽  
Blockchain Technology ◽  
Potential Adaptation ◽  
Government Rules ◽  
Banking Credit ◽  
Potential Collaboration ◽  
Debit Cards

There are many different ways by which a user can make cashless payments—online banking, credit and debit cards, e-wallets, and QR codes just to name a few. The adoption of the methods of payment is largely determined by government rules as well as regulations in the respective countries. Hence, this study provides an in-depth discussion regarding the trends of e-payment adoption in selected countries. To strengthen the case for the digitalisation of transactions, the authors also consider the advantages of moving towards a cashless society. In addition, major issues that hinder the growth in the global adoption of e-payments found in cross-border transactions will be discussed. Furthermore, this chapter also explores the potential adaptation of blockchain technology on e-payment systems to solve the instant cross-border payment issue.

scholarly journals Cashless Economy in India: Challenges Ahead

2020 ◽  
Vol 8 (1) ◽  
pp. 21-30
Author(s):  
Aslam Hasan ◽  
Mohammed Atif Aman ◽  
Mohd Ashraf Ali
Keyword(s):  
Money Laundering ◽  
Central Government ◽  
Online Banking ◽  
Electronic Payment ◽  
Payment Systems ◽  
New Era ◽  
Digital Money ◽  
The Way

In an attempt to curb-out black money, money laundering, and to have a sound economy, the central government of India has embarked on the cashless economy. It is the birth of a new era in the nation with life with digital money. This paper is going to conceptualize the meaning of a cashless system, explains online banking techniques in India, schemes by government to spread the cashless system in India and highlights the challenges of the cashless economy and electronic payment systems. The objective of this study is to examine the significant challenges that are faced by Indians on the way towards cashless. To achieve the objectives of this exploratory type of personal study, interviews will be conducted.

scholarly journals Discussion on Payment Application in Cross-border E-Commerce Platform from the Perspective of Blockchain

2021 ◽  
Vol 235 ◽  
pp. 03020
Author(s):  
Qian Liao ◽  
Mimi Shao
Keyword(s):  
Information Leakage ◽  
Consumer Information ◽  
Third Party ◽  
Cross Border ◽  
Blockchain Technology ◽  
Distributed Ledger ◽  
Smart Contract ◽  
Cash Payment ◽  
Asymmetric Encryption ◽  
Further Development

Features like the distributed ledger, consensus mechanism, asymmetric encryption technology, smart contract and Token of blockchain can lower transaction cost, enhance trust between customers and merchants, as well as eliminate false payment and consumer information leakage, problems which are common in current payment of cross-border E-Commerce platform. Based on the analysis of existing scholars, this paper studied two payment models: digital cash payment based on blockchain technology and the application of blockchain in third-party payment platform. Then the paper discussed the mechanism of blockchain in cross-border e-commerce payment platform, and creatively proposed a blockchain cross-border e-commerce payment platform, serving as reference and guidance for further development of blockchain technology in cross-border payment.1

scholarly journals Analysis of the Use of Electronic Money in Efforts to Support the Less Cash Society

2016 ◽  
Vol 3 (1) ◽  
pp. 1 ◽  
Author(s):  
Dwi . Wulandari ◽  
Thomas Soseco ◽  
Bagus Shandy Narmaditya
Keyword(s):  
Economic Growth ◽  
Credit Cards ◽  
Qualitative Approach ◽  
State University ◽  
Payment Systems ◽  
Electronic Money ◽  
Cash Payment ◽  
Student Preference ◽  
Technological Developments ◽  
Debit Cards

Technological developments have had an impact on all aspects of life including changes to existing payment systems. Electronic money (E-Money) is a non cash payment instrument in addition to credit cards and debit cards. E-money offers advantages over debit cards and credit cards that give the ease, speed, and efficiency. The issue discussed in this research covers the intensity of the use of e-money, the volume of transactions, preferences, and perceptions about the use of e-money at the Faculty of Economics, State University of Malang. This study used a qualitative approach. The findings showed that only a small portion of the respondents (17.07%) has already been used BRIZZI card as a means of payment. Majority of students simply do as much as 3-5 times transaction per month. The volume of transactions in using E-money is still low. Student preference to use BRIZZI is relatively small. Most of the respondents supported less cash society because they believe it will promote economic growth and stability.

3 Australia

2018 ◽  
Author(s):  
Paterson Ian
Keyword(s):  
Credit Risk ◽  
Payment Systems ◽  
Choice Of Law ◽  
Cross Border ◽  
The Law

This chapter discusses the law of set-off and netting in Australia as well as the key restrictions on the availability of set-off under Australian law. In Australia, set-off and netting arrangements are often used as a means of reducing operational and credit risk. In the context of reducing credit risk involving financial rights and obligations (for example, deposits and loans), set-off and netting arrangements depend on one or more of: contract, section 553C of the Corporations Act 2001, and the Payment Systems and Netting Act 1998 (Netting Act). The chapter first considers set-off between solvent parties and set-off against insolvent parties before explaining set-off under section 553C of the Corporations Act. It also examines issues that may arise in cross-border transactions under Australian law with respect to the availability of set-off in section D of the Corporations Act, with emphasis on the choice of law and set-off in insolvency.

scholarly journals Ripple vs. SWIFT: Transforming Cross Border Remittance Using Blockchain Technology

2019 ◽  
Vol 147 ◽  
pp. 428-434 ◽  
Author(s):  
Tianyi Qiu ◽  
Ruidong Zhang ◽  
Yuan Gao
Keyword(s):  
Cross Border ◽  
Blockchain Technology

scholarly journals Study on the Intention of Foreign Trade Driven by Cross-Border E-Commerce Based on Blockchain Technology

2021 ◽  
Vol 2021 ◽  
pp. 1-10
Author(s):  
Tiange Gao
Keyword(s):  
Information Quality ◽  
Theoretical Foundation ◽  
Three Dimensions ◽  
Delivery Time ◽  
Cross Border ◽  
Blockchain Technology ◽  
Influence Mechanism ◽  
Willingness To Purchase ◽  
Logistics Service Quality

Cross-border e-commerce is also facing the problems of cross-border goods selling counterfeit, long delivery time of cross-border logistics, and high cross-border payment fee in the process of development. Blockchain technology, with its characteristics of high trustworthiness, traceability, and information immutability, can be applied to the field of cross-border e-commerce, providing a new direction for cross-border e-commerce to solve these problems. At the present stage, scholars at home and abroad mainly study how blockchain technology is applied in cross-border e-commerce, explore the specific mode of combining blockchain technology with cross-border e-commerce, and lay the theoretical foundation for the application of blockchain technology in cross-border e-commerce, while less research is conducted on the application effect of blockchain technology in cross-border e-commerce. Based on this, this paper researches the influence mechanism of the application of blockchain technology in cross-border e-commerce on consumers’ willingness to purchase, explains the current situation of the application of blockchain technology in various fields of cross-border e-commerce, and on this basis, divides the quality of the blockchain system of cross-border e-commerce into three dimensions of commodity information quality, logistics service quality, and payment security.

scholarly journals Research on the Construction of China-Europe Cross-border E-commerce Ecosphere Based on Blockchain Technology

2019 ◽  
Vol 3 (1) ◽  
pp. 11
Author(s):  
Liang Liu ◽  
Xiaoyu Jiang ◽  
Jian Wu
Keyword(s):  
Risk Management ◽  
Service System ◽  
Credit Risk Management ◽  
Relevant Research ◽  
Technology Application ◽  
Intelligence System ◽  
The Core ◽  
Cross Border ◽  
Blockchain Technology ◽  
Core Technology

Based on the blockchain technology to construct the relevant research on the China-Europe cross-border e-commerce ecosystem, we must first define the main significance and combine the core technology application of blockchain to explore the blockchain China-Europe cross-border e-commerce ecosystem, thereby drawing effective measures such as establishing a cross-border e-commerce integrated service system, improving e-commerce credit risk management and establishing a blockchain supply chain intelligence system, which comprehensively elaborates on the importance of blockchain technology to build a China-Europe cross-border e-commerce ecosystem.

scholarly journals Evolutionary game analysis of Chinese cross border logistics enterprises adopting blockchain technology in supply chain

2021 ◽  
Vol 275 ◽  
pp. 03078
Author(s):  
KunYang Liu ◽  
Yong Zhang
Keyword(s):  
Supply Chain ◽  
Evolutionary Game ◽  
Game Model ◽  
Game Analysis ◽  
Technological Revolution ◽  
Cross Border ◽  
Technical Ability ◽  
Blockchain Technology ◽  
Logistics Enterprises ◽  
Mathematical Derivation

Blockchain technology is considered to be the representative technology of the fourth technological revolution, and logistics and supply chain field has been considered as the main application direction in the next step by industry and academia. In order to study the behavior and intention of Chinese cross-border logistics enterprises to introduce blockchain into internal supply chain, this paper constructs a model of cross-border logistics enterprises adopting blockchain technology on the basis of bounded rationality based on the game model, this paper attempts to find out the factors that affect the introduction of blockchain into the internal supply chain through mathematical derivation and numerical analysis. The game results show that the willingness of cross-border logistics enterprises to adopt blockchain is closely related to the technical ability of blockchain, the incremental performance after the introduction of blockchain, the conversion cost of blockchain technology, and other factors. Enterprises should coordinate various factors and choose to adopt blockchain technology according to their own situation.

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