Trend and dynamics of card payment system in India

Payment system in India has undergone a dramatic change in recent years. The payment through cards, using both debit and credit cards, is one of the early innovations in the modern payment system in the country. Several intermediaries are involved in the effective functioning of card payment mechanism. As a result, the card payment infrastructure has grown remarkably well across India. The volume of payments made through these devices as well as the value of card payments increased rapidly in the last two decades. Among the commercial banks, the State Bank of India dominates in the maintenance of ATM infrastructure, the issue of cards and in the volume and value of card transaction. The private sector banks dominate in the installation of POS terminals and HDFC bank tops in the POS credit card transaction. However, the recent trend shows that the transaction through cards as a percentage of total retail electronic payments has been declining in India, as other retail payments platforms have become popular.

Problems and directions of electronic commerce development in the BRICS countries

E-commerce issues and ways of digital cooperation between the BRICS countries are examined. The BRICS countries, excluding China, were not able to occupy the highest positions in the innovation ratings published by Western research organizations, but they have high development potential. The BRICS countries and their programs for development of the digital economy and trade are studied. The Russian Federation pays great attention to digital cooperation due to existing difficulties in geo-economic situation. The development of e-commerce is a key element in the digitalization of economy. This study examines the stages of development of the digital economy and current state of BRICS e-commerce, as well as highlights its problem areas. It overviews modern e-commerce tools, such as electronic payments, blockchain, chat bots, internet of things, voice assistants, drones, etc. Digital cooperation should be developed precisely in these areas. However, the fact that Russia lacks applied experience in the field of commercialization has become a significant problem. In this regard, the main purpose of the study is to identify areas and ways of digital cooperation for BRICS governments and individual companies.

DOES ECONOMIC POLICY UNCERTAINTY REDUCE FINANCIAL INCLUSION?

This study investigates whether the level of economic policy uncertainty (EPU) would reduce the level of financial inclusion. It was predicted that a high level of EPU could have a negative effect on the level of financial inclusion. It was argued that a high level of EPU would discourage financial institutions from providing basic financial services to low end customers and unbanked adults, and this would lead to a decrease in the level of financial inclusion. Using a sample of 22 countries, the study found that the level of EPU did not have a significant impact on financial inclusion. None of the nine indicators of financial inclusion were found to have a significant direct relationship with EPU. However, there was some evidence that the combined effect of a high level of EPU and high nonperforming loans could reduce financial inclusion, particularly through bank branch contraction and a reduction in the use of electronic payments. Furthermore, the use of formal accounts and credit cards would increase in times of high credit supply and when there was a high level of EPU.

The role of e-payments in enhancing financial performance: A case study of the Bank of Palestine

The purpose of this paper is to explore electronic payments, which are considered one of the most important tools in financial technology. Hence, electronic payments play a great role in enhancing the financial performance of the Bank of Palestine. The study uses three dependent variables such as return on assets (ROA), return on equity (ROE) and earnings per share (EPS). The study methodology employs a descriptive and analytical approach to investigate the bank’s data during the period of 2010–2019. Hence, the findings show that electronic payment methods have an important impact on the bank’s financial performance, through the return on assets and equity indicators, which helps to reduce costs and thus increase profits. However, there is no statistically significant effect on the earnings per share. What is more, the Bank of Palestine uses a wide variety of electronic payment methods. Thus, the study suggests the necessity to increase the effectiveness of the information security from fraud risks, in addition to activating supervisory and regulatory authorities (such as the Palestinian Monetary Authority), to strengthen the application of electronic payment tools. Acknowledgment Special thanks to Palestine Technical University Kadoorie for their valuable and continuous support.

CRIMINOLOGICAL ASPECTS OF CRIMES COMMITTED ON THE INTERNET

The article deals with the criminological features of crimes committed by the author using the Internet. Also, as a result of the widespread use of high technologies in electronic payments and document processing systems and similar areas, not only economic damage to enterprises and organizations, but also the normal operation of local networks as a result of crimes against the system and industries. Author points that, this leads to the inability of its affiliated industries to function properly, which in turn impedes the work of a number of large enterprises and organizations, resulting in a high level of frustration and irreparable losses. In addition, the author argues that existing protection systems often fail to protect businesses and government agencies from robberies using theInternet. This situation is explained by the fact that it has tried to explain that thefight against robberies committed using the Internet is the result of the presence of vulnerable, weak points and low sensitivity in such protection systems.

Cryptocurrency in transnational offenses: criminal and civil legal aspects

The emergence of digital technologies contributed to the emergence and rapid development of digital commerce, and at the same time, the number of electronic payments, the use of digital and virtual currencies increased. The article presents an analysis of the legal nature of such a financial instrument as cryptocurrency, characterizes the distinctive features, highlights the advantages and disadvantages. The purpose of the work is to consider the regulatory legal position of cryptocurrency in the modern world, to highlight the legal practice in cases of the circulation of cryptocurrency, to study the role of cryptocurrency in transnational offenses, to explore possible options for combating cybercrime, which is carried out using the use of cryptocurrency. The methodology of the work is represented by a set of methods and techniques, operations that are used to study the topic and achieve the set goal, namely: hermeneutic, historical, extrapolation, comparative-legal, comparison and generalization, analysis, synthesis, deduction. Results of the work: in today's reality there is no unified international legal regulation of cryptocurrency, which complicates the prevention and fight against transnational offenses, the means or subject of which are cryptocurrencies and mining.

Counteraction to offenses committed with the use of electronic payment systems: new challenges and problems

Legal, organizational and technical issues of the current state of crime prevention in the field of electronic payment systems in different countries and in Ukraine are considered. The following methods were used in the article: dialectical, documentary analysis, analytical analysis of documents and observations. Identified and analyzed current trends and risks associated with the use of electronic payment systems by legal entities. Electronic payments have been found to be a progressive and convenient innovation on the one hand, which has greatly accelerated the ability of individuals to engage in day-to-day market relations, and on the other, to be unlawfully encroached upon and systematically improved by criminals. Based on this, emphasis is placed on the urgent need for proper protection of payment systems. It is noted that examples of global counteraction to crimes and various offenses committed in the field of electronic payments are developed countries such as the United States, Great Britain, Canada, Singapore, as well as the European Union, especially France and Germany. As a result of the study, it has been noted that the above countries have all the opportunities to provide Ukraine and its citizens, as well as government officials with the necessary guidelines, technical and legal assistance to create an effective mechanism to combat offenses in the use of electronic payment systems.

Assessing resistance to accept electronic wallets in Egypt: تقييم مقاومة قبول المحافظ الإلكترونية في مصر

The purpose of this study is to determine the factors that obstruct the diffusion of electronic wallets in the Egyptian society. As there is great resistance to the use of electronic payment services provided by governmental and private banks, and the insistence of customers to use cash due to the many reasons that were discussed in the research. In spite of this, several countries such as Morocco, Algeria, Malaysia and India, as an example similar to the Egyptian example, have come forward and found many solutions to switch from cash to electronic payment. Nowadays, cell phones have become a fundamental piece of one's everyday life. Users would be able to utilize their Smartphones to make money transactions or online payments by using applications on their phones. There are many mobile wallets, which provide these types of services. Electronic wallets are computerized version of traditional wallets that somebody would carry in their pocket. They offer payment service through which the people/business can receive/send money by smart phones. The current paper highlights the factors that affect Egyptians’ consumer behavior towards electronic wallets, either directly or indirectly and the reasons behind rejecting the idea of replacing cash payments with electronic payments, despite, the global trend to reduce the use of cash especially in the current period of the Coronavirus pandemic. A recent statistic from the Central Bank of Egypt stated that 67% of Egyptians do not have bank accounts, this alarming statistic shows that Egyptians might be uncomfortable dealing with banks, this reflects the level of resistance that Electronic wallet services will face in building familiarity and acceptance with the Egyptian consumers. Through interviews and phone calls with a group of 48 executives and team leaders from government and private banks, in addition to 62 individuals from different age groups- who owned bank accounts in different banks- it was found that the age group from 20 to 40 are the most frequent users of electronic wallets and electronic payment services. Service quality emerged strongly during the study as a variable moderating the acceptance of electronic wallets by customers. Study also indicated that banks’ customers who had concerns about using the electronic wallet for other reasons including making a wrong transaction, refund period, mobile phone coverage when payment is required urgently and on top of this customers had safety concerns and problems dealing with mobile applications. According to 2024 expectations, there is an increase of more than 50% for users of e-wallets for bank account holders, however, through breading familiarity with the concept of electronic wallets and banks investment in a highly secured and user friendly applications percentage could go higher. Recommendations to increase the diffusion rate of e-wallets in the Egyptian society: - A planned and systematic awareness campaign introducing government’s efforts towards using electronic payment services. - Training of the section concerned with technical support to service electronic wallets in all banks to solve all customer problems easily and quickly, which in turn makes the customer satisfied with the service. - Simplifying and facilitating electronic payment applications on mobile phones to facilitate handling by elderly or low-education persons. - Motivating customers to use e-wallets through loyalty program and sales promotions.