scholarly journals REASONS OF APPEARANCE AND ASSESSMENT FEATURES OF RISK IN ELECTRONIC PAYMENT SYSTEMS

2018 ◽  
pp. 6-10
Keyword(s):  
High Speed ◽  
New Technologies ◽  
Service Providers ◽  
Electronic Payment ◽  
Payment Systems ◽  
Single Chain ◽  
Business World ◽  
Blockchain Technology ◽  
Secure Environment ◽  
High Level

In this era of digital technology, when many new technologies were aimed at integrating new technologies, the blockchain turned out to be the most effective. Blockchain is an innovation in the virtual business world for creating a payment gateway that allows you to create a more secure environment for users. If we are talking about blockchain wallets, they are mainly designed to quickly and securely manage online payments. In this regard, the demand and popularity of the development of blockchain collages is constantly increasing. This article development of electronic payment systems study is devoted. The article discusses the issues of modeling and risk assessment, approaches to risk prevention in the field of electronic payments. In particular, a new blockchain technology wallets is being considered, which will make it possible to prevent a number of risks in electronic payment systems, allow payments to be made at high speed, ensuring a high level of security. Ultimately, companies are looking for convenient, fast and reliable payment systems to streamline processes, and blockchain technology has the potential to make all this a reality - and therefore we expect companies to increasingly look for payment service providers who can help them with access to blockchain . This is likely to be particularly relevant in areas with high levels of exposure, such as multicurrency payments or multi-country payments, which relatively small payment gateways comprehensively cover even in the world, not connected by a single chain. Entering the partner market of other states also apply for legal audits.

scholarly journals Trends and Challenges in Adoption of E-Payment Services in India

2020 ◽  
Vol 9 (4) ◽  
pp. 1048-1054
Keyword(s):  
Success Factors ◽  
Service Providers ◽  
Electronic Payment ◽  
Payment Systems ◽  
Research Directions ◽  
Electronic Payments ◽  
Raising Awareness ◽  
Public Sector Organizations ◽  
Payments Systems ◽  
Payment Services

Electronic payment services are vastly growing market around the world due to its convenience and quickness. After demonetization in India during 2016, the proliferation payment systems reached the peak with in-house service providers and global operators explore here. The proposed analysis work focus on creating conscious about different factors related to e-Payment Systems with its cons, objections and security features. The historical data and referent have been taken out in order to acquire essential data about electronic payments systems. This study on outlook of e-payment systems was carried out following search of several research directions on digital payment services. As there are multiple service providers, the digital vision will be fully utilized only by raising awareness among people and society with the huge popularity of internet and technology. To realize their success parameters, it is vital to examine the strategies of general consumers, cyber merchants, network managers, banks and other public sector organizations. Disappointed experiences may lead to establishment of a new payment system. Our results highlight straight forward explanations of the success factors of electronic payment services in India based on variety of features. The study also reveals the popularity of e-payment services in India on various criteria

scholarly journals The 5G Wave

2019 ◽  
Vol 53 (5) ◽  
pp. 88-93
Author(s):  
Steve Halford
Keyword(s):  
High Speed ◽  
Business Models ◽  
Industrial Revolution ◽  
Mobile Internet ◽  
Business World ◽  
Modern Engineering ◽  
New Business ◽  
Technical Features ◽  
High Level ◽  
New Applications

AbstractReliable access to the Internet through a mobile high-speed wireless communications network is an achievement of modern engineering that has changed how people communicate. The advent of a mobile, Internet-enabled economy has created new business models and touched all segments of the business world. Many predict that the deployment of 5G will result in a new wave of changes as the communications backbone for what is referred to as the fourth industrial revolution. This article provides a high-level overview of how 5G relates to previous technologies and the key technical features of 5G that support new applications within different industries. In addition, this article provides insights into the use of advanced antenna techniques, millimeter Wave (mmWave) frequencies, and the security of 5G.

Money Laundering, Cybercrime and Criminal Responsibility of Legal Persons

2020 ◽  
Vol 12 (1) ◽  
pp. 125-150
Author(s):  
Miguel Abel Souto
Keyword(s):  
Money Laundering ◽  
New Technologies ◽  
Service Providers ◽  
Criminal Responsibility ◽  
Criminal Liability ◽  
Criminal Activity ◽  
Legal Framework ◽  
Payment Systems ◽  
Face To Face ◽  
Customer Information

Directives 2015/849 and 2018/843 on money laundering require continuous adaptations of the legal framework to respond to threats of the use of new technologies in money laundering. Directive 2018/843 extends the scope of Directive 2015/849 to ‘providers engaged in exchange services between virtual currencies and fiat currencies, as well as custodian wallet providers’. Undoubtedly, the new payment systems facilitate money launderers’ criminal activity. These systems are better than cash for moving large sums of money, non-face to face business relationships favour the use of straw buyers and false identities, the absence of credit risk, as there is usually a prepaid option, discourages service providers from obtaining complete and accurate customer information, and the nature of the trade and the speed of transactions make it difficult to control property or freezing. However, the development of technologies, including the Internet, has unquestionable advantages involved and even provides, through online resources, verification of identity or other duty of surveillance for the prevention of money laundering. In addition, the reform of June 22, 2010 introduced in Spain the criminal liability of legal persons and incorporated money laundering, together with other crimes, to this innovative model of criminal responsibility. Soon after, Organic Law 1/2015, of March 30, modified the hitherto barely applied regulation. In conclusion, the use of dummy corporations for money laundering is frequent, as is evidenced by the judgements of the Supreme Court of June 26, 2012 and February 4, 2015, but until recently the accessory consequences and the doctrine of piercing the corporate veil were sufficient.

An Emphasis of Digital Wallets for E-Commerce Transactions

2019 ◽  
Vol 16 (9) ◽  
pp. 3748-3753
Author(s):  
R. Raghavendra ◽  
M. Niranjanamurthy ◽  
M. N. Nachappa ◽  
K. B. Shalini
Keyword(s):  
Quality Of Service ◽  
Mobile Devices ◽  
Service Providers ◽  
Ease Of Use ◽  
Electronic Payment ◽  
System Quality ◽  
Payment Systems ◽  
Quality Of Information ◽  
Current Generation

Payment is one of the main parts of the business. Since from the last decade, the use of mobile devices for electronic payment has increased significantly. The current generation of individual payment systems that is replaced the traditional smart cards by mobile devices supplied with E-wallet and M-wallet functions. The spread of such E-wallet systems will depend on their security, functionality ease of use and the effectiveness of realization. E-wallet is a utility which offers users to save their money and make payments anywhere and all time. Many banks and nonbanks organizations are contesting to develop new on this filed. As customers adopt E-wallet and M-wallet. As customers adopt E-wallet and M-wallet, they becoming a cybercrime target. E-wallet provides a monetary action through smartphones which is fruitful freedom for electronic crimes. Quality of the system, quality of service and quality of information has to improve by the mobile wallet service providers for their M-wallet applications.

scholarly journals Monopoly without a Monopolist: An Economic Analysis of the Bitcoin Payment System

2021 ◽  
Author(s):  
Gur Huberman ◽  
Jacob D Leshno ◽  
Ciamac Moallemi
Keyword(s):  
Service Providers ◽  
Waiting Times ◽  
Transaction Processing ◽  
Payment System ◽  
Protocol Design ◽  
The Novel ◽  
Free Entry ◽  
Payment Systems ◽  
Blockchain Technology ◽  
Decentralized Design

Abstract Bitcoin provides its users with transaction-processing services which are similar to those of traditional payment systems. This article models the novel economic structure implied by Bitcoin’s innovative decentralized design, which allows the payment system to be reliably operated by unrelated parties called miners. We find that this decentralized design protects users from monopoly pricing. Competition among service providers within the platform and free entry imply no entity can profitably affect the level of fees paid by users. Instead, a market for transaction-processing determines the fees users pay to gain priority and avoid transaction-processing delays. The article (i) derives closed-form formulas of the fees and waiting times and studies their properties, (ii) compares pricing under the Bitcoin Payment System to that under a traditional payment system operated by a profit-maximizing firm, and (iii) suggests protocol design modifications to enhance the platform’s efficiency. The Appendix describes and explains the main attributes of Bitcoin and the underlying blockchain technology.

scholarly journals ELECTRONIC PAYMENT SYSTEM AND BLOCKCHAIN AS ITS VITAL PART

2020 ◽  
Author(s):  
M.Sh. Agzamova (Nuriddinova)
Keyword(s):  
Payment System ◽  
Review Article ◽  
Electronic Payment ◽  
Payment Systems ◽  
Vital Part ◽  
Blockchain Technology ◽  
Electronic Payment System

The proposed review article provides information on modern electronic payment systems, especially focusing on how the mechanism of bitcoin works, blockchain technology, also describes the scope of blockchain’s application

scholarly journals E-Payments – Enabling India towards Becoming Less Cash Economy

2019 ◽  
Vol 8 (4) ◽  
pp. 5403-5408
Keyword(s):  
Systemic Risk ◽  
Theoretical Foundation ◽  
Service Providers ◽  
Electronic Payment ◽  
Payment Systems ◽  
Efficient System ◽  
Cash Economy ◽  
Digital Payments ◽  
Digital Footprints ◽  
Significant Factors

An efficient payment system enables to increase the liquidity in the system or economy. An efficient system of payment not only ensure the appropriate utilization of resources but also enables to reduce the threat of systemic risk. There is significant pace of shift towards the electronic payment or digital payments. India’s strong cash based economy has started moving towards becoming cashless economy. Through RBI and Government of India initiatives, it is expected that the digital footprints grow to 500 million users by 2020. This paper focuses on different electronic or digital payment options available to Indian users and their usage in day to day life. By using factor analysis and applying KMO Barlett test, the data collected from 100 respondents was analysed. This study revealed that the two significant factors, incentives and risk free transactions, influences the Indian people to transact digitally. This research provides a theoretical foundation for academics and guidelines for service providers and Government in dealing with e-payment systems.

scholarly journals Problems of development of non-banking payment systems in Ukraine

2019 ◽  
pp. 80-88
Author(s):  
Volodymyr Tkachuk
Keyword(s):  
Public Procurement ◽  
Structural Features ◽  
Electronic Payment ◽  
Payment Systems ◽  
Electronic Money ◽  
Blockchain Technology ◽  
Domestic Legislation ◽  
Rapid Pace ◽  
The One ◽  
The Right

Introduction. The development of non-cash payments is the key to economic growth in any country, because on the one hand, the level of control over payments increases, and on the other - the volume of customer spending increases, which leads to increased consumption and GDP growth. However, current trends in e-commerce and online commerce require the emergence of new technological solutions in the form of electronic payment systems that can legally handle transactions with electronic money and cryptocurrencies. Given the rapid pace of growth in transactions through non-banking electronic payment systems, the issue of identifying obstacles to the development of such payment systems is urgent, especially in view of the need to ensure effective oversight of payments and the deduction of payments. Purpose. The study of the main problems of development of non-banking payment systems in Ukraine in terms of their structural features and importance for the development of the national economy, as well as the development of recommendations for improving the right regulation of payment transactions with electronic money and cryptocurrencies. Results. The features of the development of non-bank payment systems in Ukraine are investigated. The author classification of non-bank payment systems is offered. The main directions of development of electronic payment systems in Ukraine are identified and the obstacles to the integration of international electronic payment systems providing cryptocurrency payment services are highlighted. Measures to improve domestic legislation in the field of electronic payment and cryptocurrency based electronic payment systems are proposed, as well as recommendations on the creation of a state non-banking electronic payment system using blockchain technology to increase transparency and public procurement payments paying taxes.

scholarly journals The Cost of Using Cash and Checks in Uruguay

2020 ◽  
Vol 9 (2) ◽  
pp. 109-129
Author(s):  
Marcelo Álvez ◽  
Rodrigo Lluberas ◽  
Jorge Ponce
Keyword(s):  
Private Sector ◽  
Cost Reduction ◽  
New Technologies ◽  
Real Economy ◽  
Electronic Payment ◽  
Payment Systems ◽  
Digital Currency ◽  
Payment Instruments ◽  
Challenges And Opportunities ◽  
The Cost

AbstractThe incorporation of new technologies to financial activities implies challenges and opportunities to financial authorities. They are reacting to the unavoidable trend towards digitalization of financial activities with the objective of preserving stable and efficient payment and financial systems. Uruguay, for instance, has promoted the use of electronic payment instruments and tested in the real economy a central bank digital currency called e-Peso. Digitalization of payment systems would reduce transaction costs by (partially) replacing less efficient means of payment, e.g. paper-cash and checks. In this paper we find that the cost of using cash in Uruguay is approximately 0.61% of GDP. Interestingly, 98.1% of this cost is borne by the private sector: banks and retailers 77.1% and households 21.0%. The cost of using checks is equivalent to 0.04% of GDP. Overall, replacing paper-cash and checks by other (electronic) means of payment would imply a transaction cost reduction for the private sector of the equivalent of up to 0.65% of GDP.

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