e-commerce and E-payment Systems

Cryptocurrencies have been in the center of interest of both scientific and professional public for over ten years. Due to the volatile exchange rate against convertible currencies, investors predominantly use cryptocurrencies as an instrument of speculative investment, while their use in the payments is at a negligible level. On June 18, 2019, the Internet giant Facebook announced the creation of a consortium of financial and technology companies aimed at establishing a global cryptocurrency with stable value called Libra. It is planned to create an open blockchain through a new programming language, which will serve development teams in the future for creation of smart contracts. The subject of research in the paper will be the potential operational performances of Libra concept. The basis for the research will be a white paper published by Facebook and knowledge about the functioning of other cryptocurrencies, notably Bitcoin. The aim of the paper is to highlight the expected economic and security implications of Libra concept.

E-Commerce is a great platform for the customer to do shopping with a great amount of comfort now a day. India is the largest customer market. As the importance of E-Commerce business grows in the country, meanwhile there must be a need for flexibility of this online platform to fulfil the expectations of customers. Merely growth of the internet and ECommerce can’t indicate the customer’s maximum satisfaction. There are still offline facilities like Malls, Marts, Provision stores, funds, data transfers that are available to customers. These offline shops and other platforms can be met the expectations and may increase satisfaction, but the trend is going indeed towards E-Commerce. Hence the study will be going to conduct on customer satisfaction towards E-Commerce in Chitradurga city. The study will be focusing on much on customer satisfaction towards E-Commerce services specifically on online shopping, fund transfers, and data transfers during the sale or buy of
physical products online. Since the advancement Chitradurga region people is denied and still have to happen with respect to the internet and online shopping. The findings indicate that customer satisfaction with e-commerce service was affected by e-commerce product quality, Logistics and Delivery Services, Return and Guarantee policies, Navigation of website, and Security issues.

The relevance of the article is determined by solving the problems of expansion of BigTech-companies’ activities in the field of payments, which take place at present. The aim of the article to identify perspective directions of interaction of ecosystems with credit institutions in the payment sector. The authors used the following methods: system-functional, system-structural, statistical analysis and synthesis. The research analyzed current approaches to the definition of ecosystems and digital platforms and proposed the authorial interpretation; identified the main advantages associated with the participation of ecosystems in financial and payment intermediation; reviewed the models of provision of financial and payment services by ecosystems and identified the regulatory framework of their activities in foreign countries; proposed criteria for assigning a company to an ecosystem in Russia and marked out prospects of ecosystem activities in the payment sector. It is concluded tha...

E-Wallet has been applied in Muslim and non-Muslim jurisdictions in many parts of the world including Malaysia, China, India, and Korea. The application is widely used and has raised questions with regard to legal and shariah issues. This paper aims to analyse specifically, legal issues affecting e-wallet practices. This paper adopted a qualitative research approach. The data collected include document reviews, ethnographical interviews and observations. This study found several legal issues related to e-wallet inter alia, an unclear position on the liability of board directors of e-wallet operators, breach of mandate and exclusion of liability of e-wallet operators. As e-wallet is important as an enabler to increase financial inclusion, it is important to address the legal issues on e-wallet to enhance good governance and best practices of e-wallet in Malaysia. The findings from this paper can be used as a basis for policymakers including scholars in the formulation of guidelines o...

The use of technology in commercial activities for many years has led to the emergence of various new supporting services in the marketplace. Among the services is the e-payment which enables payment done via the electronic medium and without involving any physical cash. E-Payment systems have received different acceptance level throughout the world – some methods of e-payment are highly adopted while others are relatively lower. Primarily, perceived risk associated to the payment systems is believed to be one of the contributing factors to the low adoption rate. This study aimed to identify young adult’s perception of e-payment risk and their behaviour towards different payment methods. For the data collection purpose, survey questionnaires were distributed to students from tertiary institutions in a metropolitan city in Malaysia as the study sample. The findings showed significant difference in perceived risk between cash and E-Payment but less significant in terms of volume of pu...

Аннотаеия. Цель работы. Целий наужно-исследователиской работы является изужение сущности электронных денег и проеесса дематериализаеии, а также анализ текущего состояния рынка электронных денег в России. Метод или методология проведения работы. При написании наужно-исследователиской работы были исполизованы такие методы, как анализ и синтез литературных истожников, методы индукеии и дедукеии, статистижеский анализ, математижеская и графижеская обработка данных, логистижеский анализ, прогнозирование. Результаты. В эпоху глобалиной еифровизаеии наиболизей популярностий полизуйтся электронные дениги. Электронные дениги полностий изменили материалинуй форму денег. Их появление стало конежной тожкой в проеессе дематериализаеии, который привел к появлений электронных денежных средств. Особое внимание в статие уделяется рассмотрений положителиных и отриеателиных сторон электронных денег, анализу состояния рынка электронных денег в России и их основным направлениям развития в данный момент. Область применения результатов. Резулитаты данного исследования могут быти применены при планировании и внедрении электронных денег в российской экономике. Выводы. Делается вывод о том, жто электронные дениги находятся в постоянном развитии. С каждым годом доля электронных платежей увелиживается, появляйтся новые направления развития электронных денег. Стоит отметити, жто еще совсем недавно рынок электронных денег развивался неравномерно, но уже сегодня электронные дениги стали буквалино неотъемлемой жастий жизни современного желовека.

Цель работы. Целью научно-исследовательской работы является изучение сущности электронных денег и процесса дематериализации, а также анализ текущего состояния рынка электронных денег в России. Метод или методология проведения работы. При написании научно-исследовательской работы были использованы такие методы, как анализ и синтез литературных источников, методы индукции и дедукции, статистический анализ, математическая и графическая обработка данных, логистический анализ, прогнозирование. Результаты. В эпоху глобальной цифровизации наибольшей популярностью пользуются электронные деньги. Электронные деньги полностью изменили материальную форму денег. Их появление стало конечной точкой в процессе дематериализации, который привел к появлению электронных денежных средств. Особое внимание в статье уделяется рассмотрению положительных и отрицательных сторон электронных денег, анализу состояния рынка электронных денег в России и их основным направлениям развития в данный момент. Область пр...

Штангрет А.М.-доктор економічних наук, професор, завідувач кафедри обліку і аудиту, фінансово-економічної безпеки, Українська академія друкарства; Ревак І.О.-доктор економічних наук, доцент, декан факультету управління та економічної безпеки, Львівський державний університет внутрішніх справ; Кирилюк Є.М.-доктор економічних наук, професор, професор кафедри економіки та міжнародних економічних відносин, Черкаський національний університет імені Богдана Хмельницького; Натрошвілі С.Г.-доктор економічних наук, професор, професор кафедри бізнесекономіки та туризму, Київський національний університет технологій та дизайну. Мойсеєнко І.П.-доктор економічних наук, професор, професор кафедри фінансів та обліку, Львівський державний університет внутрішніх справ. Навчально-методичний посібник підготовлено в межах виконання науково-дослідної роботи «Інноваційні підходи до державного регулювання фінансової безпеки України» (номер держреєстрації 0117U000578).

This paper examines the antecedents of cashless payment systems among businesses in Malaysia. The adoption of cashless payment systems by businesses has the potential to reduce the costs related to handling huge amounts of cash in the market and enhance transaction speed. Unfortunately, its current adoption in Malaysia is still small and very little is known about the factors. A seven-factor model based on the TOE framework was developed and tested. The partial least square (PLS) statistical approach was employed to analyze data collected from 200 business entities in Malaysia. The results reveal that compatibility and technology competence have higher significant relationships with the adoption of cashless payment systems. Management support, firm critical mass, competitive pressure, and information intensity are significantly related to the adoption of cashless payment systems, while firm size is not associated with it. The findings of this study provide significant practical impl...

This study aims to identify the factors influencing the readiness and acceptance of mobile payment applications. The study is performed using the survey method. Quantitative data analysis are used to measure the relationship between the perceived usefulness, perceived ease of use, and perceived security on the readiness of Malaysian in using mobile payment applications. The results shown that perceived usefulness, perceived ease of use, and perceived security have a positive and significance relationship with the usage of mobile payment applications. Moreover, perceived ease of use is reported as the strongest factor towards usage of mobile payment applications, following by perceived security and perceived usefulness. This study is able to provide information on the current stage of use on mobile payment in Malaysia and it is also beneficial to the mobile payment facilities provider into find out strategies that could improve the acceptance and use of mobile payment application.

The availability of multiple (mobile) electronic payment systems ((M)EPS) has led to the development of web browser payment interfaces that support various payment systems, facilitate the transaction, the choice of the payment system, and perform the payment. However, so far, no in-depth study on user satisfaction determinants with these interfaces has been conducted. Our work aims to cope with this issue. Thus, based on the analysis of payment literature and Google Chrome web browser (GCWB) payment interface, we propose a new web browser payment interface that considers users’ preferences to support multiple payment systems. Furthermore, we have developed a theoretical model to determine users’ preferences to support multiple payment systems. Our model is based on the extension of technology acceptance models. Finally, we evaluated both the theoretical and proposed payment interface through a survey research approach (n = 266); data were collected, and the hypotheses were tested vi...

In India, post demonetization exercise in 2016, digital payments have become extremely popular. Among them, the volume of transactions using Paytm wallets and UPI (Unified Payment Interface) have grown manyfold. The lockdowns due to COVID-19 Pandemic have furthered this trend. Side by side, crypto-currencies such as bitcoin are also gaining traction. Many countries are considering issuing a Digital Currency via their Central Banks. In this paper, we propose a novel Decentralized Digital Currency System (DDCS) that makes use of Merkle Hash-Trees as Authenticated Data Structures. DDCS uses a Ledger-less, distributed, peer-to-peer architecture. We name the proposed currency δ-Money. δ-Money is intended as a replacement for physical currency and has in-built security features that rival crypto-currencies. Transactions using δ-Money happen in a disintermediated manner but with post-facto reconciliation. In place of Central Bank-issued Digital Currency (CBDC), we envisage a scenario where multiple Payment Banks issue digital currencies that have stable valuations without being subject to either volatility or perennial devaluation.

Purpose This study aims to identify the impact of mobile payment on firm performance by developing a model based on the technology, organization and environment framework (TOE framework) including relative advantage, complexity, compatibility, innovativeness, mobile payment knowledge, critical mass, competitive pressure and external support. Design/methodology/approach The data were collected from the retail and service firms in Bangkok, Thailand (n = 387). Multiple regression analysis was applied to test the proposed model and carried out in SPSS version 25. Findings The results indicated that the TOE factors, including relative advantage, innovativeness, mobile payment knowledge, critical mass, competitive pressures and external supports, can predict firm performance. While innovativeness is the strongest predictor of positive firm performance, on the other hand, critical mass is found to be negatively significant on firm performance. Practical implications This research suggests ...

As mobile wallets are in constant demand and growing over the past few years, there is a need to identify views of different stakeholders involved in the process. Several studies have been done to investigate consumers' perspective intensively. On the other hand, review of perception and adoption of wallet services by other participants, in particular merchants, is often neglected. The present study aims to fill this gap. This study used an empirical model to measure merchant's intention to use a mobile wallet technology. The study includes the variables, perceived compatibility, perceived usefulness, awareness, perceived cost, perceived customer value addition and perceived trust, and aims to determine their influence on intention to use. Our study also tested the mediating effect of perceived trust on the influence of perceived usefulness to predict merchant's intention. The study includes results of the survey of 315 Indian merchants by an online survey method. We find the highest effect of perceived customer value addition on merchant's intention, followed by perceived usefulness of technology. The proposed mediation effect of perceived trust was small but significant on perceived usefulness. The results of the study can help mobile payment companies to understand factors that are relevant to increase adoption of technology in the context of merchants.

Проаналізовано основні передумови виникнення платіжних систем, їх термінологічне визначення та основну сутність. Указано на важливість ролі, яку відіграють платіжні системи у розвитку фінансового сектору країни. Визначено нормативно-правову базу функціонування платіжних систем в Україні, завдання, які вирішуються платіжними системами, а також охарактеризовано вимоги, якім сучасні платіжні системи мають задовольняти, для того щоб бути корисними для всіх учасників процесу платежів та економіки країни у цілому. Особливо підкреслено важливу функцію платіжних систем, яку вони виконують, а саме передача потоку інформації, який містить не тільки деталі платежу, а й безпосередньо самого переказу грошових коштів. Визначено структуру сучасного ринку платіжних систем в Україні. Виділено класифікацію платіжних систем, що функціонують на українському ринку-це система електронних платежів Національного банку Україні (СЕП НБУ); карткові платіжні системи (НПС «Простір», Mastercard, Visa тощо) та системи переказу коштів. Виділено та охарактеризовано категорії платіжних систем, які внесені до реєстру Національного банку України (НБУ) і які мають право на діяльність на території нашої держави. Оцінено динаміку основних показників ринку платіжних систем за період із 2017 по 2019 р., визначено лінійний тренд зростання та середні темпи росту. Визначено ключові поточні проблеми ринку, а саме: монополізація національного ринку міжнародними платіжними системами (МПС); низький рівень захисту прав споживачів платіжних систем і самих компаній, які надають послуги; недостатня фінансова та платіжна грамотність деяких категорій населення; недостатній розвиток технологічної платіжної інфраструктури та ін. З огляду на існуючи проблеми, визначено шляхи їх вирішення та подолання перешкод. На підставі проведеного аналізу визначено найближчі перспективи розвитку платіжних систем в Україні, а також подальші перспективи можливих досліджень. Ключові слова: електронна комерція, платіжна система, система електронних платежів, платіжна інфраструктура, ринок платіжних систем.

Organizations have still not realized the full potential of e-commerce. One factor that is likely to influence the further adoption of e-commerce is the quality of the e-commerce system as system quality impacts user satisfaction and hence use of the system. However, in order to improve the quality of any systems, one first needs to identify measures to assess quality. Although other researchers have recognized the need for such measures, they have primarily focused on a single specific aspect of e-commerce systems, typically the user interface. In this paper we identify the key components of e-commerce systems and synthesize existing research related to quality of these components to arrive at a comprehensive list of quality dimensions, which in turn provide measures to assess the quality of e-commerce systems.

NOTE: THIS ARTICLE WAS PUBLISHED WITH THE INFORMING SCIENCE INSTITUTE. Aim/Purpose.............................................................................................................................................................................. This study examines the factors that influence customer intention to use mo-bile payment service in Nanjing, China. It also gains a deeper understanding and better insight of Chinese consumer behavior. Background.............................................................................................................................................................................. Mobile payments services represent a tremendously interesting paradox in the world of telecommunications. Although, they are convenient, quick and easy but there is not still enough evidence on how successful this practice is. In Nanjing, China, consumer intention to use mobile payment is still questionable and remains as a skeptical consideration. Me...

The use of technology in commercial activities for many years has led to the emergence of various new supporting services in the marketplace. Among the services is the e-payment which enables payment done via the electronic medium and without involving any physical cash. E-Payment systems have received different acceptance level throughout the world – some methods of e-payment are highly adopted while others are relatively lower. Primarily, perceived risk associated to the payment systems is believed to be one of the contributing factors to the low adoption rate. This study aimed to identify young adult’s perception of e-payment risk and their behaviour towards different payment methods. For the data collection purpose, survey questionnaires were distributed to students from tertiary institutions in a metropolitan city in Malaysia as the study sample. The findings showed significant difference in perceived risk between cash and E-Payment but less significant in terms of volume of pu...

The availability of multiple (mobile) electronic payment systems ((M)EPS) has led to the development of web browser payment interfaces that support various payment systems, facilitate the transaction, the choice of the payment system, and perform the payment. However, so far, no in-depth study on user satisfaction determinants with these interfaces has been conducted. Our work aims to cope with this issue. Thus, based on the analysis of payment literature and Google Chrome web browser (GCWB) payment interface, we propose a new web browser payment interface that considers users’ preferences to support multiple payment systems. Furthermore, we have developed a theoretical model to determine users’ preferences to support multiple payment systems. Our model is based on the extension of technology acceptance models. Finally, we evaluated both the theoretical and proposed payment interface through a survey research approach (n = 266); data were collected, and the hypotheses were tested vi...

Crypto-assets are unique in tying fnancial wealth to the secrecy of private keys. Prior empirical work has attempted to study end-user security from both technical and organizational perspectives. However, the link between individuals' risk perceptions and security behavior was often obscured by the heterogeneity of the subjects in small samples. This paper contributes quantitative results from a survey of 395 crypto-asset users recruited by a novel combination of deep and broad sampling. The analysis accounts for heterogeneity with a new typology that partitions the sample in three robust clusters-cypherpunks, hodlers, and rookies-using fve psychometric constructs. The constructs originate from established behavioral theories with items purposefully adapted to the domain. We demonstrate the utility of this typology in better understanding users' characteristics and security behaviors. These insights inform the design of crypto-asset solutions, guide risk communication, and suggest directions for future digital currencies. CCS CONCEPTS • Human-centered computing → User studies; • Security and privacy → Social aspects of security and privacy; • Information systems → Digital cash.

Сегодня уже сложился новый глобальный рынок, рынок электронной коммерции. Все страны стремятся занять свое место на этом рынке и использовать новые возможности. Электронная коммерция может стать одним из драйверов для оживления розничной торговли, повышения конкурентоспособности, а в конечном счете и развития всей экономики. В данной статье определяются место российской электронной коммерции, тенденции и перспективы ее развития на мировом рынке. В качестве объекта исследования выступает один из секторов электронной коммерции-розничная электронная торговля. Основой для исследования послужили данные независимой некоммерческой организации Ecommerce Foundation, исследовательской компании Data Insight, некоммерческой организации АКИТ. Россия занимает 10 место в мире и 4 место в Европе по обороту электронной коммерции. Наблюдаются тенденции дальнейшего роста, но нужно обратить внимание на все еще имеющееся цифровое неравенство регионов. Все большее распространение во всех странах получила трансграничная электронная торговля. В России количество покупок из-за рубежа растет очень быстрыми темпами. В то же время продажи за рубеж находятся на низком уровне. Автором отмечено, что, хотя в последние 2 года наблюдается некоторый спад в темпах роста, перспективы и возможности российской электронной торговли на мировом рынке очень хорошие. Ключевые слова: электронная коммерция, электронная розничная торговля, интернетторговля, интернет-покупатель, трансграничная торговля INTERNATIONAL TRADE IN THE CONDITIONS OF GLOBALIZATION Shvetsov A.N. «Informatsionnoe obschestvo»: Teoriya i praktika stanovleniya v mire i v Rossii. M.: KRASAND, 2012.

The rapid proliferation of decentralized marketplace applications demands scaling solutions beyond pairwise channels in order to facilitate high volumes of consumer-provider payment transactions. While sidechains seem to present a possible solution, there are several challenges in realizing them; while simpler state channels have seen wide adoption (e.g. Lightning network), sidechains are not in wide use yet. In this work, we propose Plasma Go, a sidechain mechanism for payment transactions where the computational and monetary costs of the required on-chain activity do not depend on the number of sidechain transactions. Indeed, Plasma Go combines pairwise payment channels and the Plasma construct of off-chain activity with rootchain notarization, to yield a mechanism where consumers and providers are guaranteed safety of their sidechain funds without the typical requirement of having them be online. We exploit efficient Boneh–Lynn–Shacham signature and key aggregation schemes to des...

The adoption of digital payments aims to minimize cash use transactions, provide convenience, acceleration, and efficiency in payment transactions. Polines-Pay is a technology-based electronic payment instrument implemented in Politeknik Negeri Semarang (Polines) as an innovative digital payment product. Besides, it is also a manifestation of the substantive learning implementation in developing information technology, especially in the banking sector as a Fintech Polines Living Laboratory. This research intends to explore how college students utilize the polines-pay as new digital payment in Polines. A qualitative study employed in this research by interviewing Accounting department’ students in Politeknik Negeri Semarang. The interviews are transcribed verbatim and analyzed using qualitative content analysis. The result of this study mentioned that students experienced the ease and benefit of using Polines-pay as their new way of making payment transactions in Polines in a digital...

огляд правових підходів до реалізації процесів та процедур управління ідентифікаційними даними, аналіз правового регулювання механізмів управління ідентифікаційними даними, опрацювання нових напрямів досліджень, огляд перспективних ідей стосовно правового регулювання управління
ідентифікаційними даними на основі матеріалів Комісії ООН з права міжнародної торгівлі і Європейської
економічної комісії ООН

The purpose of the article is to review the legal approaches to the implementation of processes and procedures
for identity management; analysis of legal regulation of identification data management mechanisms; elaboration
of new directions of research; a review of promising ideas for the legal regulation of identity management based
on the materials of the UN Commission on International Trade Law and the UN Economic Commission for Europe.

This study aims to identify the factors influencing the readiness and acceptance of mobile payment applications. The study is performed using the survey method. Quantitative data analysis are used to measure the relationship between the perceived usefulness, perceived ease of use, and perceived security on the readiness of Malaysian in using mobile payment applications. The results shown that perceived usefulness, perceived ease of use, and perceived security have a positive and significance relationship with the usage of mobile payment applications. Moreover, perceived ease of use is reported as the strongest factor towards usage of mobile payment applications, following by perceived security and perceived usefulness. This study is able to provide information on the current stage of use on mobile payment in Malaysia and it is also beneficial to the mobile payment facilities provider into find out strategies that could improve the acceptance and use of mobile payment application.

The availability of multiple (mobile) electronic payment systems ((M)EPS) has led to the development of web browser payment interfaces that support various payment systems, facilitate the transaction, the choice of the payment system, and perform the payment. However, so far, no in-depth study on user satisfaction determinants with these interfaces has been conducted. Our work aims to cope with this issue. Thus, based on the analysis of payment literature and Google Chrome web browser (GCWB) payment interface, we propose a new web browser payment interface that considers users’ preferences to support multiple payment systems. Furthermore, we have developed a theoretical model to determine users’ preferences to support multiple payment systems. Our model is based on the extension of technology acceptance models. Finally, we evaluated both the theoretical and proposed payment interface through a survey research approach (n = 266); data were collected, and the hypotheses were tested via statistical analysis (chi-square test, regression coefficients). Our experimental results revealed that our proposed interface is accepted, easy to use, and satisfies users’ needs. The key factors for accepting a new web browser payment interface are ease of use, usefulness, security, confidentiality, privacy, payment method preferences, visual interface design, and credibility.

Value creation in a circular economy is based on products being returned after use. In the case of smartphones, most are never returned and tend to be kept in drawers. Smartphone access services (e.g., leasing or upgrade) have been experimented with in the Netherlands but have been largely unsuccessful. This study explores the reasons why consumers rejected these access-based smartphone services and is one of the very few to address this topic. The findings are compared with the case of car access services, which are socially better accepted, to identify potential areas for improvement. The qualitative study consists of in-depth interviews with consumers (n = 18) who either adopted and used a smartphone or car access service, or had considered a new smartphone or car but did not choose access-based consumption. The findings of this small-scale study suggest that the main reasons for the rejection of smartphone access services are a lack of awareness, misunderstanding of terms and conditions, and unsatisfactory compensation for their sacrifice of not owning. Smartphone access providers could thus clearly communicate customers' rights and responsibilities, offer an excellent service experience (especially during repair) by taking over the burdens of ownership, and stimulate the societal logic shift from ownership to access.

Central bank digital currency (CBDC) is a digital form of fiat currency. CBDC is expected to be a game changer in the international financial system, bringing increased complexities arising from technology and regulatory considerations, as well as generating greater currency competition. As more states begin exploring CBDC, the interactions between actors will lead to the emergence of a new CBDC network. What shape would the emerging CBDC network take? What would its network effects be? What would be the impact of the CBDC network on international financial system,or the global financial network? This article explores these questions by examining the emerging CBDC network and its regulatory implications. It argues that the CBDC network would likely be both decentralized and uncoordinated, making it unlikely to lead to convergence in CBDC regulation. The CBDC network would probably bring policy diffusion effects, with states behaving instrumentally, while shaking up the power balance between different actors, generating both cooperation and conflict. The CBDC network also has the potential to push international financial system towards becoming more decentralized.

The Malaysian market consists of a large consumer-base carrying mobile phones. However, the adoption and proliferation of mobile (m-) payments remain dismal. Evidence from the literature necessitates the need for elucidating the adoption barriers and drivers from multiple perspectives. There has been much research on consumer adoption and usage of mobile payment systems, but there is a lack of research on this subject from the merchants' perspective. Taking into account the critical role merchants play in promoting a sustainable m-payment ecosystem, this work elucidates the perspective of merchants in Malaysia vis-à-vis m-payment systems. In-depth interviews with merchants from multiple retail categories were conducted to gain insight into their motivational drives, barriers, and challenges in the context of the adoption and implementation of m-payment systems in Malaysia. The results confirmed that the relative advantage of decreasing payment processing time and fees, convenience, and enhanced payment security features are some of the factors motivating merchants to adopt m-payment, while technological incompatibility, complexity, the cost of investment, and the lack of critical mass and knowledge are some of the factors discouraging merchants from doing so. Our findings further expand the limited knowledge of m-payment systems in the context of Malaysian merchants, which is valuable for industries and policymakers. The results of this study can be generalised to other m-payment systems in other countries-Apple Pay, Samsung Pay, and Android Pay, with Apple Pay, Alipay, and WeChat.

Analysing the blockchain is becoming more and more relevant for detecting attacks and frauds on cryptocurrency exchanges and smart contract activations. However, this is a challenging task due to the continuous growth of the blockchain. For example, in early 2017 Ethereum was estimated to contain approximately 300GB of data [4], a number that keeps growing day after day. In order to analyse such ever-growing amount of data, this paper argues that blockchain analysis should be treated as a novel type of application for Big Data platforms. We also explore the application of parallelization techniques from the Big Data domain, in particular Map/Reduce, to extract and analyse information from the blockchain. We show that our approach significantly improves the index generation by 7.77 times, with a setup of 20 worker nodes, 1 Ethereum node and 1 Database node. We also share our findings of our massively parallel setup for querying Ethereum in terms of architecture and the bottlenecks. This should help researchers setup similar infrastructures for analysing the blockchain in the future.

The research's objective is to learn the customer behavior towards the standard of banking products and services in the opinion of customer preferences Quality of service is examined on several distinctive from self-sufficiency or service reliability is measured in various forms. An attempt is often made to discover which service attributes could improve customer opinion of banking services efficiently. An attempt is often made to discover which service attributes could improve customer opinion of banking services. Potential respondents with random sampling are selected from a wide range of demographics characteristics. Banks both from the private and public sectors are sampled. Research questionnaires have been distributed to 400 clients of various banks in the Virudhunagar district. The data were analyzed using simple percentage, Chi- square measure, and AMOS. Customer opinion seems to represent customer behavior when it comes to banking services and products, according to the findings. The banking sector is the largest in the Virudhunagar district which has seen exponential development and strong rivalry throughout the last generation. This research was indeed primarily undertaken to investigate this trend and to pursue evidential reasoning throughout this context by recognizing the opinion of the customer as the key contributor to the behavior of the customer in banking services and products.

В статье рассмотрены сущность и основные принципы электронных платежных систем, обсуждены их появление и современное состояние, а также представлены особенности опыта Узбекистана. Ключевые слова: Электронные платежные системы, электронный денег, интернет банкинг, смарт карта, электронные кошельки, платежные технологии. 1. Введение. Появление электронной коммерции породило новые финансовые потребности, которые во многих случаях не могут быть эффективно удовлетворены традиционными платежными системами. Признавая это, практически все заинтересованные стороны изучают различные типы электронных платежных систем и вопросы, связанные с электронными платежными системами и цифровой валютой. Платежные системы, использующие электронные распределительные сети, являются частой практикой в банковском и деловом секторе с 1960-х годов, особенно для перевода больших сумм денег. В 1967 году Нью-Йоркский Клиринговый дом запустил CHIPS (Clearing House Interbank Payment System), которые обеспечивают перевод средств в долларах США и расчеты по сделкам в режиме онлайн и в режиме реального времени. В конце 1970-х годов Chemical Bank запустил свою систему Pronto, предоставляющую 3000 компьютерных терминалов для дома клиентов, связанных с его центральными компьютерами по телефону. Он предложил широкий спектр услуг: запросы баланса, денежные переводы между банковскими счетами Chemical Bank и платежи по счетам в некоторые местные магазины. В 1985 году электронный обмен данными (Electronic Data Interchange) широко использовался в межбанковских платежных системах. С 1994 года, DigiCash of Holland провел цифровых наличностей онлайн способом. А в 1995 году оплаты с электронными валютами в Mondex начинаются в Швеции, Англии. За пяти десятилетия, прошедшие с момента их появления, произошли важные технологические изменения, которые, с одной стороны, расширили возможности электронных платежных систем, а с другой-создали новую деловую и социальную практику, делающую использование этих систем необходимым. Эти изменения, естественно, повлияли на определение электронных платежей, которое эволюционирует в зависимости от потребностей каждого периода. В самом общем виде термин электронный платеж включает в себя любые платежи предприятиям, банковским или государственным услугам от граждан или предприятий, которые осуществляются через телекоммуникационные или электронные сети с использованием современных технологий. Очевидно, что исходя из этого определения, электронные платежи являются платежами, которые осуществляются самим плательщиком, будь то потребитель или предприятие, без вмешательства другого лица. Кроме того, оплата производится на расстоянии, без физического присутствия плательщика и, естественно, не включает наличные деньги.

Der Markt für Payment Service Provider (PSP) in Deutschland ist in der Breite weitgehend unbekannt und folglich sind dessen Merkmale und Wettbewerbsstruktur selbst bei branchenfremden Finanzexperten nur eingeschränkt bekannt. Dies ist u.a. darauf zurückzuführen, dass es sich um einen B2B-Markt handelt mit einer, im Vergleich zu anderen Finanzdienstleistungen, eher kurzen Historie. Das PSP-Geschäft hat allerdings in den letzten Jahren stark an wirtschaftlicher Bedeutung gewonnen, nicht zuletzt aufgrund des rasanten Wachstums des internetbasierten Handels. Diese neu gewonnene Stärke wurde für jedermann durch den Aufstieg des vermeintlichen Marktführers Wirecard AG in den DAX im September 2018 dokumentiert.

Mit der publikationsträchtigen Aufwertung der Wirecard AG verband sich die Erwartung, dass PSPs eine zunehmend wichtige Rolle im Markt für Finanzdienstleistungen spielen werden. Dem mittlerweile insolventen Unternehmen wurde zeitweilig gar der Status der Systemrelevanz zugesprochen, z.B. dokumentiert durch das mit ebensolchem begründete Leerverkaufsverbot durch die BaFin.  Die schleppende Aufarbeitung des Wirecard-Skandals und die damit einhergehende Diskussion, ob das Unternehmen tatsächlich jemals systemrelevanten Charakter erlangt hat, dokumentiert die Intransparenz des deutschen PSP-Marktes. Wenn über Jahre die Herkunft fiktiver Umsätze durch sogenannte Marktexperten nicht hinterfragt wird (trotz deutlicher Hinweise aus dem Ausland), dann belegt dies auch mangelndes Grundverständnis des PSP-Geschäftes an sich. Diese Mankos sollen durch den vorliegenden Beitrag adressiert werden.

Dabei geht es auch um die Frage, ob doch Hidden Champions im deutschen PSP-Markt zu finden sind. In einem ersten Schritt konkretisiert dieser Beitrag die Organisationsform PSP. Die Ausführungen sollen verdeutlichen, wie die Besonderheiten des eCommerce-Handels Entstehung und Wachstum des PSP-Marktes bis heute fördern und prägen. Daran anknüpfend werden in einem zweiten Schritt die Geschäftsmodelle der PSPs und deren wesentliche Werttreiber analysiert. Darauf aufbauend wird, drittens, die aktuelle Marktstruktur anhand der Umsätze der von PSPs betreuten Händler beschrieben. Dies ermöglicht Aussagen bezüglich Marktkonzentration und Wettbewerbsintensität. Dadurch kann dann, viertens, die übergeordnete Fragestellung zu möglichen Hidden Champions adressiert werden.

This paper seeks to analyze the immediate impact of demonization drive on digital financial inclusion in India which was declared on 8th November 2016. Thereafter, digital financial inclusion got wide momentum in terms of accessibility and usability than ever before. Thus, the study is ascertained to explore the emerging trends in the financial sector for financial inclusion in India followed by discussions on prospects and challenges of financial technology (Fintech) that occurred due to demonetization ordinance. So far none of the studies was performed in analytical way to explore the impact of new demonetization ordinance on digital financial inclusion. Hence, this approach is the first dimension in this respect with the discussions on emerging techbased financial services. The study encompasses the analysis of financial inclusion parameters like opening Bank account, No Frills Account (NFA) and Rupay Debit Card with the comparison of pre and Post periods of demonetization. Paired Sample t-test was applied to test the hypotheses and results show that those three parameters do not have a significant impact on financial inclusion due to demonetization except in the distribution of Rupay Debit card provided by Public sector banks.

Internet banking is based on digital age and create the opportunity for the clients. All the services which are providing by the bank to their customers through the internet. They make the world very easy and effective and also save their times, no. of facilities are using by the customers Like NEFT, RTGS, Fund transfer, Mobile recharge and bill payments at anytime. This study is based on secondary data. The main purpose of this study is to analyze the level of customer satisfaction through the internet banking by private sector banks.

In the present technological era the banking industry in the world especially in India undergo the rapid changes. The information technology has play the major role in providing the various innovative customer services for online banking customers like better tracking for transactions, multiple delivery channels for provide services for online customers. The private sectors banks put almost effort to satisfy their customer's expectation through their various efforts like their bank prompts responses, online banking securities, reliability & confidence and efficiency of website. The present study analyzed the factors determining the customer's satisfactions online banking with sample of selected private sector banks in Chennai city. The result of the proved that private sector banks websites has to offer various innovative financial services to their customers. The private sector bank has to conduct the regular survey on customer services to attract the new customers and retain the existing customers.

In the present technological era the banking industry in the world especially in India undergo the rapid changes. The information technology has play the major role in providing the various innovative customer services for online banking customers like better tracking for transactions, multiple delivery channels for provide services for online customers. The private sectors banks put almost effort to satisfy their customer's expectation through their various efforts like their bank prompts responses, online banking securities, reliability & confidence and efficiency of website. The present study analyzed the factors determining the customer's satisfactions online banking with sample of selected private sector banks in Chennai city. The result of the proved that private sector banks websites has to offer various innovative financial services to their customers. The private sector bank has to conduct the regular survey on customer services to attract the new customers and retain the existing customers.

Digital banking is change of banking transaction from traditional system to online process. Here banking services are given through internet. It gives faster andmore comfortableservices from the side of bank. Digital banking gives users to their financial information through their laptops, mobile phone and ATM facilities. In reality a digital banking services facilitate all functional level of banking in all type of services platform. Last few years a lot of changes happened in the banking sector, especially technological development. Because of these changes the banks are able give more services to their customers most effective way. Almost all customers are happy with the 24x7 digital services of the bank. Near future all banking transaction may become online. The time really ask for such type of changes, because it saves more time and money.