Exploring Mobile Peer-to-Peer Payment Adoption: The Effects of SNS and Native Mobile Banking Apps Usage

Mobile payments have been adopted as an essential payment channel due to the proliferation of mobile phones and mobile e-commerce. Mobile peer-to-peer (P2P) payment applications, on the other hand, is still in its infancy and have yet to see mass adoption. This study aims to explore the factors that influence the adoption of such mobile P2P payment applications by using a large scale data set based on users’ mobile application usage behaviors. The main initial findings reveal that the length of the session of traditional bank application usage significantly influences the adoption of mobile P2P payment applications. In addition, the amount of social network service applications used positively impacted one’s adoption of mobile P2P payment applications. These findings have important theoretical and practical implications for stakeholders of mobile P2P payment solution providers as well as intermediaries/banks who provide their own payment applications to their customers

AN ANALYSIS ON THE MOBILE PAYMENT INDUSTRY IN CHINA AND ITS IMPLICATIONS TO MALAYSIA

Internet which is one of the most transformative and fast-growing technologies has become an integral part of our lives. Globally, the number of Internet users increased from only 413 million in 2000 to over 4.5 billion as of June 2019, with the Internet users from Asia Pacific made up the major market share. Owing to changing lifestyle and rapid growth in E-commerce, this trend is expected to continue over for subsequent many years especially in China. China’s mobile payment transaction volume has reached 190.5 trillion Yuan in 2018, with a year-on-year growth rate of 58.4% due to its advantages of security, stability and convenience. Meanwhile, Malaysia which represents one the fastest growing mobile payment market in the world, has its mobile payment usage skyrocketed in the last five years reaching a staggering 40 billion ringgit. Since 2005, the year when Central Bank of Malaysia liberalized its policy by permitting non-banking institution to provide mobile payment service, there were only 1billion ringgit spent via 365.6 million transactions. 13 years later, the transaction volume has increased to 11 billion ringgit with 1.92 billion transactions made. This implies that there is a huge development opportunity of mobile payment industry in Malaysia and the biggest mobile payment industry in the world, China can be a development model for further growth of this industry in Malaysia.  Besides analyzing the current development of the mobile payment industry in China at the beginning of this paper by carrying out life cycle analysis, this paper also studies the influencing factors and challenges of mobile payment in China. Moreover, a comparison of the industry in both China and Malaysia has been drawn out by using PEST analysis. Lastly, the author also proposed the measures and suggestions for enhancement of mobile payment industry in Malaysia

The role of technology in improving the Customer Experience in the banking sector: a systematic mapping study

Information Technology (IT) has revolutionized the way we manage our money. The adoption of innovative technologies in banking scenarios allows to access old and new financial services but in a faster and more secure, comfortable, rewarding and engaging way. The number, the performances and the seamless integration of these innovations is a driver for banks to retain their customers and avoid costly change of hearts. The literature is rich in works reporting on the use of technology with direct or indirect impact on the experience of banking customers. Some mapping studies about the adoption of technologies in the field exist, but they are specific to particular technologies (e.g., only Artificial Intelligence), or vice versa too generic (e.g., reviewing the adoption of technologies to support any kind of banking process). So a specific research effort on the crossed domain of technology and Customer Experience (CX) is missing. This paper aims to overcome the following gaps: the lack of a comprehensive map of the research made in the field in the past decade; a discussion on the current research trends of top publications and journals is missing; the next research challenges are yet to be identified. To face these limitations, we designed and submitted 7 different queries to pull papers out of 4 popular scientific databases. From an initial set of 6,756 results, we identified a set of 89 primary studies that we thoroughly analyzed. A selection of the top 20% works allowed us to seek the most performant technologies as well as other promising ones that have not been experimented yet in the field. Main results prove that the combined study of technology and CX in the banking sector is not approached systematically and thus the development of a new specific research line is needed

Um sistema de pagamento eletrônico com garantia de privacidade baseado no algoritmo criptográfico RSA

A exposição dos dados do cliente a diferentes entidades durante o processo de compra pode levar a mapeamento de perfil e situações constrangedoras, dependendo da natureza dos produtos adquiridos. Para solucionar esse problema, um sistema para realização de transações de comércio eletrônico garantindo a privacidade da parte compradora é implementado. Através dele, o usuário tem a garantia de que a privacidade de suas informações estão seguras para com as demais entidades envolvidas no processo. Esse sistema utiliza um modelo com três entidades — cliente, loja virtual e processador de pagamento — as quais não conseguem associar a compra realizada ao cliente comprador

Managing near field communication (NFC) payment applications through cloud computing

This thesis was submitted for the degree of Doctor of Philosophy and awarded by Brunel University.The Near Field Communication (NFC) technology is a short-range radio communication channel which enables users to exchange data between devices. NFC provides a contactless technology for data transmission between smart phones, Personal Computers (PCs), Personal Digital Assistants (PDAs) and such devices. It enables the mobile phone to act as identification and a credit card for customers. However, the NFC chip can act as a reader as well as a card, and also be used to design symmetric protocols. Having several parties involved in NFC ecosystem and not having a common standard affects the security of this technology where all the parties are claiming to have access to client’s information (e.g. bank account details). The dynamic relationships of the parties in an NFC transaction process make them partners in a way that sometimes they share their access permissions on the applications that are running in the service environment. These parties can only access their part of involvement as they are not fully aware of each other’s rights and access permissions. The lack of knowledge between involved parties makes the management and ownership of the NFC ecosystem very puzzling. To solve this issue, a security module that is called Secure Element (SE) is designed to be the base of the security for NFC. However, there are still some security issues with SE personalization, management, ownership and architecture that can be exploitable by attackers and delay the adaption of NFC payment technology. Reorganizing and describing what is required for the success of this technology have motivated us to extend the current NFC ecosystem models to accelerate the development of this business area. One of the technologies that can be used to ensure secure NFC transactions is cloud computing which offers wide range advantages compared to the use of SE as a single entity in an NFC enabled mobile phone. We believe cloud computing can solve many issues in regards to NFC application management. Therefore, in the first contribution of part of this thesis we propose a new payment model called “NFC Cloud Wallet". This model demonstrates a reliable structure of an NFC ecosystem which satisfies the requirements of an NFC payment during the development process in a systematic, manageable, and effective way

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

Pagamentos móveis e o uso de tecnologia Near Field Communication no domínio da bilhética de transportes em Portugal

Mestrado em Gestão e Estratégia IndustrialOs pagamentos móveis são pagamentos efetuados através de um smartphone e que evoluem a um ritmo bastante elevado, estando até presentes num sistema inteiro de transportes, como é o caso dos transportes japoneses através da empresa de telecomunicações NTT DoCoMo. Em Portugal, este assunto tem vindo a ganhar relevância de tal forma que as empresas de transportes e de telecomunicações estão a colaborar para que exista uma implementação de pagamentos móveis, nos transportes, num futuro próximo. A presente investigação centra-se na pesquisa da possibilidade de implementação do serviço de pagamentos móveis na bilhética de transportes usando o Near Field Communication (NFC), uma tecnologia inovadora em Portugal. Vamos também analisar os motivos que mais influenciam a adoção dos pagamentos móveis, tanto positiva como negativamente. A metodologia utilizada para este estudo foi a análise exploratória com recurso à amostragem por conveniência. Os resultados obtidos demonstram que é possível uma implementação dos pagamentos móveis em Portugal, sendo que o principal problema encontrado relaciona-se com a comunicação da tecnologia ao público em geral, ou seja, nos possíveis utilizadores.Mobile payments are payments made with a smartphone and are evolving at a quite high pace, even existing in a whole system of urban transportation, such as the Japanese transports through the telecommunications company NTT DoCoMo. In the case of Portugal, this issue has gained importance so that transport and telecommunications companies are actively collaborating to implement mobile payments in transports in the near future. This research focuses on the study of the possibility of an implementation of mobile payments service in transport ticketing using Near Field Communication (NFC), an innovative and recent technology, in Portugal. We will also examine the positive and negative reasons that influence most the adoption of mobile payments. The methodology used for this study was an exploratory analysis using a convenience sampling. The results demonstrate that it is possible an implementation of mobile payments in Portugal, where the main problem relates to communicate the technology to the general public or, in other words, potential users

Discrimination on Wheels: How Big Data Uses License Plate Surveillance to Put the Brakes on Disadvantaged Drivers

As scholarly discourse increasingly raises concerns about the negative societal effects of “fintech,” “dirty data,” and “technochauvinism,” a growing technology provides an instructive illustration of all three of these problems. Surveillance software companies are using automated license plate reader (ALPR) technology to develop predictive analytical tools. In turn, software companies market those tools to auto financers and insurers as a risk assessment input to evaluate consumers seeking to buy a car. Proponents of this technology might argue that more information about consumer travel habits will result in more accurate and individualized risk predictions, potentially increasing vehicle ownership among marginalized groups. Expanding access to cars would go a long way toward undoing the economic suppression of many people who are low-income or of color. However, discrimination in the consumer scoring cycle shows that ALPR-based data analytics will only exacerbate the economic and racial disparities in car ownership. Competing incentives and biased assumptions steer the choices of the humans who collect ALPR data, creating a conflict that irredeemably poisons the data and any consumer access decisions that spring from it. Moreover, using location data to assess risk means that automobile costs may be based on value judgments about the neighborhoods that consumers visit. Thus, rather than creating an equal path to economic mobility, the tainted ALPR data collection methodology reinforces discrimination. Not only that, but using the data to score consumers risks resuscitating and repackaging the practice of redlining. This article analyzes the fintech model as represented by the use of ALPR technology in auto financing and insurance. Existing commentary surrounding ALPR has focused on ALPR’s privacy and Fourth Amendment implications. While scholars and commentators have been busy examining law enforcement’s engagement with this high-tech surveillance technology, powerful private actors have flown under the radar while subjecting vulnerable consumers to ALPR’s exploitative commercial applications. This article deviates from prior commentary by contemplating ALPR through a consumer law lens. It exposes the ways in which consumer laws have left disadvantaged drivers unprotected. Finally, it advances a number of proposals, including removing geographic inputs from auto access decision making, developing a central base of technological expertise to audit algorithms, and banning commercial use of ALPR

Regulation from market institutions

The usual way economists and regulators think about regulation and competition policy is in terms of market failure. The problem with that model is that it obscures some of the most important features of real life. The model begins by making unreasonable assumptions about markets which, according to those assumptions, will always ‘fail’. However, governments do not have the knowledge, nor the incentives, to be able to ‘correct’ market failure. This model also fails to recognise that markets themselves can develop regulatory institutions to address some of the so-called failures. One group of those private regulatory institutions is stock exchanges. The fact that the government, in 1986, decided to prohibit a private institution (the Stock Exchange) from regulating equity and gilts markets in many important ways on the grounds that the London Stock Exchange was inhibiting competition and that this act (Big Bang) is generally referred to as an act of ‘radical deregulation’ should perhaps tell us something. In fact, it tells us three things. The first is that governments are not necessary to regulate markets. The second is that private institutions might, in fact, regulate markets more strictly than government regulatory bodies. The third is that the focus of economists should not be on so-called market failures being corrected by government bodies but on analysing the relative advantages of private and government regulation. I will illustrate this by five examples, though not all relate to specific market institutions

The Future of Digital Spaces and Their Role in Democracy

This is the 13th"Future of the Internet" canvassing Pew Research Center and Elon University's Imagining the Internet Center have conducted together to gather expert views about important digital issues. In this report, the questions focused on the prospects for improvements in the tone and activities of the digital public sphere by 2035. This is a nonscientific canvassing based on a nonrandom sample; this broad array of opinions about where current trends may lead in the next decade represents only the points of view of the individuals who responded to the queries.Pew Research Center and Elon's Imagining the Internet Center built a database of experts to canvass from a wide range of fields, inviting professionals and policy people based in government bodies, nonprofits and foundations, technology businesses and think tanks, as well as interested academics and technology innovators. The predictions reported here came in response to a set of questions in an online canvassing conducted between June 29 and Aug. 2, 2021.In all, 862 technology innovators and developers, business and policy leaders, researchers and activists responded to at least one of the questions covered in this report. More on the methodology underlying this canvassing and the participants can be found in the section titled "About this canvassing of experts.