13,003 research outputs found

    Electronic and photonic switching in the atm era

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    Broadband networks require high-capacity switches in order to properly manage large amounts of traffic fluxes. Electronic and photonic technologies are being used to achieve this objective both allowing different multiplexing and switching techniques. Focusing on the asynchronous transfer mode (ATM), the inherent different characteristics of electronics and photonics makes different architectures feasible. In this paper, different switching structures are described, several ATM switching architectures which have been recently implemented are presented and the implementation characteristics discussed. Three diverse points of view are given from the electronic research, the photonic research and the commercial switches. Although all the architectures where successfully tested, they should also follow different market requirements in order to be commercialised. The characteristics are presented and the architectures projected over them to evaluate their commercial capabilities.Peer ReviewedPostprint (published version

    Electronic Payment Systems Development in a Developing Country: The Role of Institutional Arrangements

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    This paper examines the institutional arrangements in the development of Nigeria’s electronic payment system (EPS) using a new institutional economics (NIE) perspective. A case study of Nigeria’s EPS was carried out using semi structured interviews to collect data from 18 participating stakeholders; a thematic method was used for the data analysis. The study suggests that a well-functioning set of arrangements, which is lacking in the institutional setup in Nigeria may be required to build necessary institutional capacity suitable for development of safe and efficient electronic payment systems. Although the technological payment infrastructure in Nigeria is modern and of comparable standard, the failure to put in place reliable and relevant market and collaborative agreements has not enabled full exploitation of the available infrastructure. Current governance structures show elements of power struggle and distrust between stakeholders (players and regulators), hampering the creation of an environment that would sustain free market economic activities and effective development of payment systems

    A guide to the ATM and debit card industry - 2006 update

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    It has been three years since we published A Guide to the ATM and Debit Card Industry. Those three years represent a very dynamic time in the industry with a number of important developments. Some trends and patterns have persisted or accelerated, while others have peaked or reversed. Still others have emerged for the first time. The purpose of this 2006 Update is to document these trends and patterns by updating the data we presented in the original book and to discuss their implications for the current and future state of the industry. ; The most important development is that the two segments of the industry, ATM and debit, are in some sense going in opposite directions. The ATM industry has matured and is relatively stagnant, with major players jockeying for position, searching for and adopting different business strategies, and adjusting to the maturation of the industry. The debit card industry, in contrast, is expanding rapidly, with new players, new partnerships, new products, and new markets. The challenge in the debit card industry is not how to cope with a maturing industry but, rather, how to preserve and enhance position and not be left behind. ; In the first part of this Update, we highlight and discuss some of the most important changes in the ATM and debit card industry. For both the ATM and debit sides of the industry, we recap and analyze changes in activity levels, industry structure, and industry pricing. We then offer some thoughts on what might lie ahead, including a discussion of fraud and data security. In the second part of this Update, we present updated versions of the 23 charts and 11 tables from the original book, adding the three or four years of additional data that have since become available.Automated tellers ; Debit cards ; Point-of-sale-systems ; Payment systems

    Debit card interchange fees generally lead to cash-promoting cross-subsidisation

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    Cards and cash are competing payment instruments at point-of-sale. The twosided market platform theory, based on general benefit assumptions, supports the use of multilateral interchange fees for card payments as a means of promoting the use of cards. However, analysis of the issue from the concrete processing cost viewpoint leads to the opposite conclusion: collection of debit card interchange fees by issuers results in subsidisation of cash and so actually promotes the use of cash instead of cards. Banks use card interchange revenues to cover cash distribution costs. For merchants, interchange fees increase payment costs and thus reduce the possibilities to pass through to customers the cost savings flowing from card efficiency. Moreover, because of high merchant fees due to high interchange fees, merchants are also more reluctant to accept payment cards. An MIF based on the tourist level approach will result in all parties being indifferent between cash and cards and thereby delay the realisation of the cost benefits of increased debit card usage. The resent actions of authorities to increase transparency and reduce cross-subsidisation seem to point in the right direction – towards more efficient resource allocation in payments.interchange fee; cross-subsidies in payments

    Diffusion of mobile phones in Portugal: unexpected success?

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    This paper begins with a somewhat paradoxical situation: Portugal is one of the less innovative countries within the European Union by most innovation indicators but, simultaneously, it is a leading country in the diffusion of mobile phones. The remarkable evolution of the mobile telecommunications sector over the last 15 years turns the issue a little more intriguing. This paper addresses the diffusion of mobile phones in Portugal and focuses particularly on the take-off stage, which signalled a sudden change in the pattern of diffusion. The introduction of an innovation – prepaid cards – explains most of the change in the diffusion curve occurred around 1996 and the subsequent increase in the penetration rate. Prior known research has not considered pre-paid cards an important determinant of mobile phone diffusion, but pre-paid services had an enormous impact on the rate of adoption of mobile phones in many countries and it is the major take-off determinant of mobile phone diffusion in Portugal. The time lag between the launching of this innovation in Portugal and its adoption by other EU countries explains why Portugal not just caught up with the EU average mobile phone penetration rate around 1996, but moved ahead of it from then on

    Multihoming in the market for payment media: evidence from young Finnish consumers

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    In the market for payment media, some consumers use only one medium when paying for their point-of-sale transactions, while others multihome and use many. As this pattern reflects the diffusion of new payment media, we take a look at the determinants of the adoption of new payment media through the window of multihoming. Using data on young Finnish consumers, we find that one key determinant of multihoming behaviour is consumer awareness. Our instrumental variable estimates indicate that the better informed use 1.2–1.3 times more payment media than the less informed. Because many payment method innovations are typically first used simultaneously with established methods, our results suggest that increasing consumer awareness could significantly speed up the adoption of new means of payment, such electronic money and mobile payments.payment media; multihoming; consumer awareness; adoption of financial technology

    Consumer awareness and the use of payment media: evidence from young Finnish consumers

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    In the market for payment media, some consumers use only one medium when paying for their point-of-sale transactions, while others use many. This pattern reflects the diffusion of new payment media, because a payment method innovation is typically first used simultaneously with the established methods. We study the use of multiple payment media by employing data on young Finnish consumers. We find that the use of multiple payment media is directly related to consumer awareness and that not controlling for the endogeneity of awareness can bias its effect downwards. These results suggest that increasing consumer awareness may have been underlying the rise of debit card use around the world. It could also speed up the adoption of new means of payment, such electronic money and mobile payments. To the extent that antitrust concerns in the market for payment media stem from the lack of information, improving consumer awareness could be a remedy.payment media; consumer awareness; adoption of financial technology

    Research into financial exclusion in Rochdale - final technical report

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    This report presents the findings and recommendations of research conducted on the extent and nature of financial exclusion in Rochdale
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