Technological advancement has provided efficient and effective payment system devoid of ‘cash and carry syndrome’. Specifically, electronic payment system provides a medium through economic exchanges take place without visiting brick and... more
Technological advancement has provided efficient and effective payment system devoid of ‘cash and carry syndrome’. Specifically, electronic payment system provides a medium through economic exchanges take place without visiting brick and mortal banks or with no physical presence of the transacting parties. While electronic payment system enjoys prominence in Nigeria, evidence of its contribution to economic growth has not been empirically established. Meanwhile, the current transition to cashless economy was essentially based on the prominence of e-payment system. Therefore, this study, for the first time, explored relationship between e-payment system and economic growth as means of reviewing current transition to cashless economy in Nigeria. Data was analysed using OLS and TSLS methods covering period of 7years (2005-2012). The result indicates a significant positive relationship between e-payment system and economic growth in term of real GDP per capita and trade per capita. Only...
Central to the infrastructure of electronic commerce activities is the electronic payment system. This encompasses not only the issues of technical sophistication but also legal readiness. In the context of electronic commerce environment... more
Central to the infrastructure of electronic commerce activities is the electronic payment system. This encompasses not only the issues of technical sophistication but also legal readiness. In the context of electronic commerce environment in Malaysia, this paper seeks to highlight and examine the Malaysian legal readiness in the aspect of electronic payment system, focusing on its Payment Systems Act 2003. The discussion is limited to the issue of electronic security measures embodied in the law. Within its restricted scope, this paper seeks to demonstrate how the law recognizes the importance of security measures in order to build confidence and trust among the public and mainly the users of electronic payments in the country.Â
Despite development and extension of different ways of financing in financial markets, encompassing Islamic and conventional financing, the mechanism of Electronic Funds Transfer (EFT) of project financing both as borrowed and... more
Despite development and extension of different ways of financing in financial markets, encompassing Islamic and conventional financing, the mechanism of Electronic Funds Transfer (EFT) of project financing both as borrowed and non-borrowed methods has not been considered at most. Moreover overall IT infrastructures development namely Real Gross Settlement System (RTGS), Automatic Clearing House (ACH), Scriptless Security Settlement System (SSSS) and International Bank Account Number (IBAN) for authentication process and the international meta bank network of Single Euro Payment Area (SEPA) and also international integrated banking networks including the Society For Worldwide Interbank Financial Telecommunication (SWIFT) and Interbank Information Transfer Network (Shetab), and other accomplished endeavors are not efficient in absorbing international contributions for project financing through foreign exchange funds in the different countries, satisfactory E-Payment mechanism in info...
The payment system sector of banking and finance touches all global citizens. Being able to make and receive payments determines our standard of living. In developed countries like Australia and the United Kingdom the payment system is... more
The payment system sector of banking and finance touches all global citizens. Being able to make and receive payments determines our standard of living. In developed countries like Australia and the United Kingdom the payment system is sophisticated. However in emerging economies the under developed payment systems are holding back economic and social development. We also now have FinTech; technology companies and start-up businesses investing large amounts of capital, with the expectation of being globally successful. This is not new for the payment sector but the hype has never been this loud.
ABSTRACT This study is conducted to analyze factors that influence the behavioural intention to use e-payment system on e-commerce in Indonesia. The proposed model in this research combines behavioral theory of technology acceptance in... more
ABSTRACT This study is conducted to analyze factors that influence the behavioural intention to use e-payment system on e-commerce in Indonesia. The proposed model in this research combines behavioral theory of technology acceptance in terms of behavioral beliefs, social influences, and personal innovativeness with the characteristics of an ideal payment system. The model was tested by the Structural Equation Modeling (SEM) using LISREL 8.8 software. The analysis result of 203 respondents showed that Indonesian customers tend to only consider the advantages they gain when adopting e-payment and ignore the risks associated with the technology. Concerning e-payment system characteristics, it was also proven that ease of use, privacy, trust, security, and convertibility influence directly and indirectly the intention to adopt e-payment.
Technological advancement has provided efficient and effective payment system devoid of ‘cash and carry syndrome’. Specifically, electronic payment system provides a medium through economic exchanges take place without visiting brick and... more
Technological advancement has provided efficient and effective payment system devoid of ‘cash and carry syndrome’. Specifically, electronic payment system provides a medium through economic exchanges take place without visiting brick and mortal banks or with no physical presence of the transacting parties. While electronic payment system enjoys prominence in Nigeria, evidence of its contribution to economic growth has not been empirically established. Meanwhile, the current transition to cashless economy was essentially based on the prominence of e-payment system. Therefore, this study, for the first time, explored relationship between e-payment system and economic growth as means of reviewing current transition to cashless economy in Nigeria. Data was analysed using OLS and TSLS methods covering period of 7years (2005-2012). The result indicates a significant positive relationship between e-payment system and economic growth in term of real GDP per capita and trade per capita. Only...
Nowadays, customers’ needs are more or less centered on three main axes: to remove the time and location limitations and reduce costs. This is considered an organizational value and is seen in the perspectives and institutional missions... more
Nowadays, customers’ needs are more or less centered on three main axes: to remove the time and location limitations and reduce costs. This is considered an organizational value and is seen in the perspectives and institutional missions of financial organizations. In this paper, a model of secure electronic payment based on Bluetooth mobile infrastructure with biometric authentication system is presented.
