E-Wallet in Malaysia: A Proposed Structure of Contracts According to The Juristic Adaptation (Takyif Fiqhi)

The rapid growth of the financial industry in line with technological development leads to the emergence of e-wallet. E-wallet is an instrument of payment of goods or services electronically without the need to use cash. The use of e-wallet although still in its initial stages in Malaysia, is still subject to Shariah analysis. This study would like to analyze several Shariah issues in e-wallet, which aimed to measure the Shariah compliance, as well as to come out with some suggestions to improve its implementation. Among the research findings are the use of e-wallet is subject to origin of ruling in commercial transactions which is permissible, thus the Shariah analysis of it focuses on the circumstances that would make it forbidden, and the possible contracts between all contractors which include the user, the bank and non-bank issuer, and the third party have been discussed in the study with taking into consideration of juristic adaptations, conditions, and implications. Two methods will be used in this research, firstly the inductive method in collecting data, and the second is the analytical method in analyzing the data

Online Payment Gateways Used to Facilitate E-Commerce Transactions and Improve Risk Management

As online transactions continue to increase and become a significant part of the global economy, the ability to accept payments online becomes more important for businesses. This paper evaluates the literature and provides current information for IS researchers and instructors focusing on electronic commerce. In this paper, we explore the components of e-credit providers (conventional, person-to-person, and third-party) and explain how each system processes a single transaction. We then analyze several market leaders in each segment and summarize the strengths and weaknesses of each company. We provide guidelines for selecting an e-credit provider and highlight the options that apply best to online businesses. Finally, we outline potential areas of future research and provide a simple tutorial on creating a business account with PayPal website Payments Standard as an example of an online payment provider

The MB WAY case : in what conditions would customers accept paying for this service?

Peoples‟ expectations regarding how financial services are delivered is becoming increasingly demanding. One of these already formed assumptions is related to always being able to perform instant money transfers. In Portugal, the app MB WAY allows every user to make these instant money transfers free of charge. However, a fee is going to be implemented per transaction with the value depending on the bank of the user. The purpose of this research was to conclude if people are indeed willing to start paying for the same service that was once free and if so, how much and in what price scheme. Bank loyalty and the loyalty towards the app itself were also tested. Tests were also made regarding price predictors and willingness to purchase the app, but no major indicators were found to be significant. Primary data was obtained through a questionnaire that provided 319 valid responses from app users. The results have shown that users are not yet willing to accept the prices that maybe are going to be charged, as they view them as being overpriced. Despite that, the impact caused by the app is not sufficient to alter their bank loyalty, although the study suggests that the respondents are receptive to changing apps if a cheaper option is available. Due to the fact that it provides the consumer perspective about this matter, the present research may contribute to how banks assess the possible price setting of instant money transfers in the near future.As expetativas das pessoas em relação à forma como os serviços financeiros são providenciados são agora mais exigentes. Uma delas é a de conseguirem realizar-se transferências instantâneas de dinheiro. Em Portugal, a aplicação MB WAY permite aos seus utilizadores realizar estas tranferências sem qualquer custo. No entanto, passará a ser cobrada uma taxa por cada transferência, estando este valor dependente do banco do utilizador. O objetivo deste estudo foi avaliar se os clientes estarão dispostos a pagar por um serviço que previamente não tinha custo, e em caso afirmativo, qual o valor a cobrar e em que esquema de preço. Foi igualmente testada a lealdade aos bancos e à própria aplicação. Foram ainda realizados testes relacionados com preditores de preço e com a disponibilidade para adquirir a aplicação, mas nenhum indicador revelou ser significante. Foram obtidos dados primários através de um questionário, que providenciou 319 respostas válidas de utilizadores da aplicação. Os resultados demonstraram que os utilizadores ainda não estão preparados para aceitar os preços que podem vir a ser cobrados, uma vez que os vêem ainda como sobrevalozidados. Apesar disso, o impacto causado pela aplicação não é suficiente para alterar a lealdade perante os bancos, ainda que o estudo sugira que os inquiridos estão dispostos a mudar de aplicação caso exista ou surja uma opção mais barata. Pelo facto de disponibilizar as perspetivas dos clientes sobre este assunto, a presente pesquisa pode dar um contributo para que os bancos determinem os preços a fixar futuramente nas transferências instantâneas

E-commerce

Ovaj rad obrađuje opće aspekte e-trgovine kao najrazvijenijeg oblika e-poslovanja. Kratki povijesni pregled razvoja tehnologija koje su dovele do pojave suvremenog e-trgovanja daje poveznicu e-trgovine s tehnološkim napretkom od njezinih početaka. S druge strane, povijesni pregled razvoja e-trgovine izdvaja pozitivne elemente koji su opstali u nešto izmijenjenom i unaprijeđenom obliku sve do danas, od negativnih koji su nestali, a poznati su pod nazivom dot-com bubble. Razmatranje modela e-trgovanja po različitim kriterijima omogućuje teorijski okvir za kvalitetnije sagledavanje trenutnog stanja i perspektiva razvoja tog područja poslovanja. E-trgovanje dovodi do razvoja i drugih područja poslovanja kao što su u prvom redu digitalni marketing, SCM i CRM, stoga i oni zaslužuju odgovarajući fokus. Trendovi u e-trgovini, među kojima vrijedi istaknuti mobilnu trgovinu i primjenu umjetne inteligencije u procesima e-trgovine, upućuju na nastavak povezanosti razvoja tog područja s razvojem tehnologije. Sve veća zastupljenost raznovrsnih i pouzdanih modela plaćanja dovodi do daljnjeg porasta e-trgovine u svim dijelovima svijeta.This final thesis deals with general aspects of e-commerce which is the most developed sector in e-business. Short historical overview of the technologies responsible for emerging of contemporary e-commerce provides a link between e-commerce and technological progress from its beginning. On the other hand, historical overview of the ecommerce segregates positive elements which survived, indeed in some modified and improved form, to the present days, from negative ones which fade away and are known under the name dot-com bubble. Investigating e-commerce models under different criteria provides a theoretical framework for enhanced view on current state and perspectives of that business sector. E-commerce leads to the development in the other areas as digital marketing, CRM, and SCM, so they deserve appropriate focus. Trends in the e-commerce development, among which mobile commerce and usage of artificial intelligence in the e-commerce are pointed out, are the witnesses to the further connections between the technological progress and development in that field. A high presence of versatile and reliable payment models get further boost in the e-commerce growth all around the world

FACTORES DE ÉXITO EN EL FONDEO DE PRESTAMOS PERSONALES VÍA CROWDFUNDING: CASO AFLUENTA, MÉXICO, 2018

Tesis que tiene por objetivo determinar los factores de exito en el fondeo colectivo o Crowdfunding relativo a prestamos personales.El presente trabajo describe los factores de exito de una plataforma de fondeo colectivo Crowfunding dedicada a los prestamos personales

The FinTech market in Germany

In this study, conducted on behalf of the Federal Ministry of Finance, we provide the first comprehensive analysis of the German FinTech industry. We quantify the market volume of the industry between 2007 and 2015. On the basis of this data, we also predict the future development of eight segments of the FinTech market, offering detailed forecasts for the years 2020, 2025, and 2035. Moreover, we provide a comprehensive overview of current trends and the drivers of growth that have affected the FinTech industry in the past, as well as the factors that could spur and hinder growth within it in the future

To pay or not to pay : the dilemmas of an emerging business ecosystem - the case of mobile payments

In the modern digital age, with mobile technology at the heart of new and vibrant digital ecosystems, mobile payments draw extensive attention from researchers and practitioners. A mobile payment ecosystem can be described through the three general characteristics of a business ecosystem (symbiosis, platform, and coevolution), together with a mobile payment technology platform, and all the actors coevolving reciprocally with each other. Due to the complex issues of a mobile payment ecosystem, a narrow view focusing only on a few components of mobile payment is unlikely to provide a sufficient understanding. To that end, a more comprehensive analysis from multiple perspectives is required to gain insights that can form the basis for building viable mobile payment ecosystems. The main research objective of this thesis is to describe and explain the core and the extended network of the mobile payment ecosystem and to offer guidelines to actors in a mobile payment ecosystem in order to strengthen their positions in the mobile payment ecosystem. In order to do so, first, a literature review is carried out, followed by the studies discussing the core actors (different mobile payment providers and merchants), combing qualitative and quantitative methods. On one hand, mobile payment providers are investigated from business models and resources perspective, by considering dynamic changes in the ecosystem. On the other hand, merchants are examined from a business ecosystem perspective to study their adoption behaviour. The main theoretical contribution lies in obtaining a new perspective on existing theories (i.e., business ecosystem theory, platform theory, resource based view, resource dependency theory, contingency theory, configuration theory and business modelling) in light of what we can achieve by integrating them into a general framework. More specifically, first, the StReS model offers a novel general approach for integrating different theories to understand organizational behaviour in a business ecosystem. Second, the analytical framework modelling merchants' acceptance is a novel framework integrating different theories to explain an organization’s adoption of a technology. Third, the approach to link business models to an actor’s position in a business ecosystem provides a novel method to identify the critical design issues of business models that can help to strengthen the core actors in the mobile payment ecosystem. The main practical contribution lies in offering guidelines to actors, especially mobile payment platform providers, to strengthen their positions in the mobile payment ecosystem

Mobile betalingsløsninger

The first mobile commerce services emerged on the Norwegian market in the late nineties and in constant growth. This paper looks at the status on mobile commerce and e-money in Norway today, which participants exists on the Norwegian market and what kind of international organizations work in the field. An interview with three service providers in Norway and Norges Bank has been carried out. This paper presents three different theories relevant to the adoption of a new technology, in this case mobile commerce. The three theories are Customer Perceived Value, Technology Acceptance Model and Network Externalities. A survey has been conducted to investigate the consumer’s thoughts on mobile phones as a payment solution. This survey was presented to a fairly large group of people (400+) assumed to have some knowledge of the technology. The paper discusses adoption of new technology, and especially mobile commerce, based on the findings from the interviews and surveys