Securing Financial Inclusiveness Adoption of Blockchain FinTech Compliance

Financial technology (FinTech) as part of financial inlcussion changes conventional business models to be information technology minded. The presence of FinTech in the wider community makes it easy for access to financial service products and transactions and payment systems more practically, efficiently, and economically. Unfortunately, as the security risk in transacting increases, cyber security in the financial services industry and FinTech service providers is considered a major target by cybercriminals. This study proposed a security management approach through hybrid blockchain method implemented through flask framework and encryption to protect transaction data. The results are promising. Referring to accuracy, this study successfully reduces data leakage and misuse of personal data and financial data in FinTechs.

Determinants of the Acceptance of Mobile Payment Systems by E-Merchants

To be effectively deployed, a mobile payment (m-payment) system must be provided by e-merchants and accepted by e-consumers. Although the problem of acceptance of m-payment systems by e-consumers has been widely researched, there are few studies about what actually motivates e-merchants to adopt and deploy these systems in their businesses in the first place. The goal of this research was to discover the behavioral intentions of e-merchants to adopt and deploy an m-payment system. The interviews approach was applied to 347 e-merchants randomly selected from among the whole population of 47,457 independent business units selling goods on-line in Poland. The PLS-SEM method was applied to determine the relationship between variables. Unexpectedly, perceived risk was not a significant factor influencing e-merchants' intention to adopt an m-payment system. The e-merchants’ behavioral intention was significantly impacted by the expected usefulness, perceived ease of deployment and use, perceived cost and price, and hedonic motivation.

Payment Systems as a Driver for Platform Growth in E-Commerce

This chapter visits some of the fundamental concepts from platform economics, network effects, and network externalities. Further on, it discusses definitions of two-sided and multi-sided markets, how they are treated as business models. These concepts are further compared to the concept service ecosystem. A case of a payment service provider whose business model contributes to the growth of e-commerce is included. The purpose is to tease out how research on platforms has developed since e-commerce was in its infancy. The fundamental concepts developed in network economics are still valid and have been translated into different fields with a focus on value creation, information, and interaction. How platforms within platforms spur each other's growth is an area that has the potential to reach new insights on the platform economy.

The Influences of Reference Groups Towards the Usage of E-Wallet Payment Systems

This chapter investigates how the three referent groups (peers, parent, media) of subjective norms (SN) influence the intention of millennials to adopt e-wallets. This study is supported by the theory of planned behavior (TPB) and stimulus-organism-response (SOR) framework. A total of 215 usable responses were obtained and analyzed using SPSS 25 and SmartPLS 3.2.6. The data is collected using a self-administered survey (Lancaster Qualtrics) and distributed randomly using the snowball sampling technique. The results indicate that the decomposition of SN has a significant relationship towards the intention of millennials to adopt e-wallets. This chapter also provides useful insights on what are the other factors that would build the intention of millennials towards the usage of e-wallets. Moreover, TPB along with the SOR framework supports the findings and provides better credibility to this study. This chapter concludes that brands should leverage more capital on media advertisements rather than peer referrals if they want to capture a larger market.

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

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.

Prospects and Challenges of Mobile Financial Services (MFS) in Bangladesh

Microelectronic payment systems are speedily replacing the ordinary modes of payment. Electronic payment systems require online financial transactions that utilize some digital financial devices. They have allowed government, businesses, and financial institutions to propose a multiple of payment opportunities to their customers. These payment opportunities include charge account credit, master card, mobile banking, and automatic teller machine and payments bills through the mobile. Mobile financial services (MFS) performed a crucial role within the present online business and other business and financial services performed within the busy and pandemic world. The study is empirical in nature of MFS and its implications in Bangladesh. Finally, the study presents an overview of challenges and prospects of MFS in Bangladesh, focusing on some development strategies for policy holders. Researchers propose how MFS operators solve the MFS-related problems, overcome the challenges, satisfy the customers, and increase their service.

Transformation electronic payment system as predictor on financial satisfaction

Digitalization in Indonesia has entered a new phase, the development of technology that makes several services run more efficiently and more flexible. Digital services that are quite complex are financial services such as electronic payment systems. Currently, the payment system is able to increase the overall satisfaction of the individual. This study examines the role of using an electronic payment system and the determinants of individual financial satisfaction as a whole. This study uses structural equation modeling (SEM) to test hypotheses regarding financial satisfaction. The results of this study prove that financial capability is able to increase financial satisfaction. However, different results show that the use of an electronic payment system does not affect financial satisfaction. This finding can expand the literature review on digital awareness, satisfaction and behavior in addressing individual financial satisfaction.