The use of electronic currency for transactions,denoting a cashless paradigm,has become increasingly common.However,this financial innovation is not prevalent in all countries.This study aims to explain the discrepanc...The use of electronic currency for transactions,denoting a cashless paradigm,has become increasingly common.However,this financial innovation is not prevalent in all countries.This study aims to explain the discrepancies across countries,including individual and country factors.It may be superficially posited that this lag in development stems from individual or microlevel usage challenges.However,the application of the Technology Acceptance Model highlights the presence of overarching characteristics conducive to extensive adoption.Thus,an additional stratum,the multilevel perspective,needs to be examined.This analytical framework incorporates not only individual attributes but also the sociotechnical framework or mesolevel factors in which they operate.A multilevel econometric model is used.The results of these analyses show that the impact on the adoption of cashless payments extends beyond individual factors(attitude to technology use,perceived usefulness,and perceived ease of use).Our primary contribution,conceptually and empirically,is to broaden the analysis vision.A comprehensive multilevel analysis revealed that broader contextual elements,such as infrastructure and national skills,exert a significant influence on the adoption of cashless transactions.Consequently,the widespread acceptance of cashless payment methods is not only contingent on individual choices but is also a collective phenomenon in which the surrounding environment plays a crucial role as a catalyst for the end users in the cashless economy.展开更多
Background:This paper analyzes India’s gradual transition towards a cashless economy.Methods:We present a theoretical model that evaluates decisions by consumers and sellers to adopt cashless payments.We then use dat...Background:This paper analyzes India’s gradual transition towards a cashless economy.Methods:We present a theoretical model that evaluates decisions by consumers and sellers to adopt cashless payments.We then use data from surveys conducted in 2011 and 2014(from World Bank’s Global Findex),as well as household and enterprise surveys conducted in 2009-2010 to estimate the amount of cashless transactions prevalent in India and identify the avenues that are successful and those that are not.We analyze instruments(cards versus point-of-sale versus mobile),micro units(individuals versus households versus retailers),and sectors to identify and estimate the enablers and bottlenecks.Results:We find that the most crucial enabler of cashless payments are inflows of funds into the accounts.Conclusion:Based on our findings,we suggest possible policy interventions.展开更多
In recent decades, day-to-day lifestyle requires online payments as easy and simple solutions to several financial transactions, which makes the concept of Electronic payment Systems very popular in the growth of a ca...In recent decades, day-to-day lifestyle requires online payments as easy and simple solutions to several financial transactions, which makes the concept of Electronic payment Systems very popular in the growth of a cashless society. In fact, cashless transactions through simple mobile apps are not merely a concept anymore rather are implemented robustly and being used extensively. On the dark side, obvious financial benefits are making these apps vulnerable to being attacked, which can be successful through security breaches. These cybersecurity issues need to be traced out and resolved to make the financial transactions through an app secure and trustworthy. In this paper, several related papers are analyzed to trace out possible cybersecurity issues in the domain of Electronic Transaction System. The objective is to establish sufficient theoretical background to propose methodologies for measuring security issues and also identify the security strength of any FinTech application and provide standard security metrics.展开更多
The outbreak of the SARS-CoV-2 coronavirus(COVID-19)has impacted the whole world.To stop the virus’s spread,governments enforced regulations requiring face masks and social isolation and also promoted social seclusio...The outbreak of the SARS-CoV-2 coronavirus(COVID-19)has impacted the whole world.To stop the virus’s spread,governments enforced regulations requiring face masks and social isolation and also promoted social seclusion,hand-washing,and other hygienic measures.People’s movements and consumption were significantly reduced as a result of government-imposed lockdowns,with internet purchasing overtaking in-store purchasing in a particularly noticeable way.Most importantly,people’s habits during times of restrictions and lockdowns seemed to reduce overall desire to do cash transactions.Cashless transactions became the most preferred option for daily payment as it helped reduce contact with others and prevent them from becoming infected.These factors contribute to future intentions to eliminate cash payments once the pandemic is ended as well as the choice of payment methods currently in use.Even after the pandemic,people are using digital cashless payments for their daily transactions.This study investigates the impact of the coronavirus on consumer demand for cash and cashless payments during the COVID-19 crisis and beyond.This study utilizes the secondary research method by employing the annual statistical report of European Central Bank(ECB)(2021).The data were extracted from the warehouse of ECB,and rigorous analysis was performed to assess the intentions of customers for using digital transactions for payments.In the study,a regression analysis shows that a greater increase in the number of cards used for payment per year occurred during the COVID-19 pandemic than before the pandemic.The study demonstrates that there was a significant correlation between the adoption of cashless payment systems and the restrictions imposed on consumers because of the pandemic.Customers prefer cashless transactions when there is a higher danger of infection while handling cash.展开更多
With an increasing number of consumers in China not carrying cash when going shopping. the value of mobile payments has skyrocketed over the past years, reaching $5.2 trillion in 2016. Could it also mean that cashiers...With an increasing number of consumers in China not carrying cash when going shopping. the value of mobile payments has skyrocketed over the past years, reaching $5.2 trillion in 2016. Could it also mean that cashiers are on their way out, becoming a phenomenon ofyesteryear？展开更多
基金Euskal Herriko Unibertsitatea(UPV/EHU)ECRI Ethics in Finance&Social Value GIU22/003Fundacion Emilio Soldevilla para la Investigacion y el Desarrollo en Economia de la Empresa(FESIDE)BOPV2020.
文摘The use of electronic currency for transactions,denoting a cashless paradigm,has become increasingly common.However,this financial innovation is not prevalent in all countries.This study aims to explain the discrepancies across countries,including individual and country factors.It may be superficially posited that this lag in development stems from individual or microlevel usage challenges.However,the application of the Technology Acceptance Model highlights the presence of overarching characteristics conducive to extensive adoption.Thus,an additional stratum,the multilevel perspective,needs to be examined.This analytical framework incorporates not only individual attributes but also the sociotechnical framework or mesolevel factors in which they operate.A multilevel econometric model is used.The results of these analyses show that the impact on the adoption of cashless payments extends beyond individual factors(attitude to technology use,perceived usefulness,and perceived ease of use).Our primary contribution,conceptually and empirically,is to broaden the analysis vision.A comprehensive multilevel analysis revealed that broader contextual elements,such as infrastructure and national skills,exert a significant influence on the adoption of cashless transactions.Consequently,the widespread acceptance of cashless payment methods is not only contingent on individual choices but is also a collective phenomenon in which the surrounding environment plays a crucial role as a catalyst for the end users in the cashless economy.
文摘Background:This paper analyzes India’s gradual transition towards a cashless economy.Methods:We present a theoretical model that evaluates decisions by consumers and sellers to adopt cashless payments.We then use data from surveys conducted in 2011 and 2014(from World Bank’s Global Findex),as well as household and enterprise surveys conducted in 2009-2010 to estimate the amount of cashless transactions prevalent in India and identify the avenues that are successful and those that are not.We analyze instruments(cards versus point-of-sale versus mobile),micro units(individuals versus households versus retailers),and sectors to identify and estimate the enablers and bottlenecks.Results:We find that the most crucial enabler of cashless payments are inflows of funds into the accounts.Conclusion:Based on our findings,we suggest possible policy interventions.
文摘In recent decades, day-to-day lifestyle requires online payments as easy and simple solutions to several financial transactions, which makes the concept of Electronic payment Systems very popular in the growth of a cashless society. In fact, cashless transactions through simple mobile apps are not merely a concept anymore rather are implemented robustly and being used extensively. On the dark side, obvious financial benefits are making these apps vulnerable to being attacked, which can be successful through security breaches. These cybersecurity issues need to be traced out and resolved to make the financial transactions through an app secure and trustworthy. In this paper, several related papers are analyzed to trace out possible cybersecurity issues in the domain of Electronic Transaction System. The objective is to establish sufficient theoretical background to propose methodologies for measuring security issues and also identify the security strength of any FinTech application and provide standard security metrics.
文摘The outbreak of the SARS-CoV-2 coronavirus(COVID-19)has impacted the whole world.To stop the virus’s spread,governments enforced regulations requiring face masks and social isolation and also promoted social seclusion,hand-washing,and other hygienic measures.People’s movements and consumption were significantly reduced as a result of government-imposed lockdowns,with internet purchasing overtaking in-store purchasing in a particularly noticeable way.Most importantly,people’s habits during times of restrictions and lockdowns seemed to reduce overall desire to do cash transactions.Cashless transactions became the most preferred option for daily payment as it helped reduce contact with others and prevent them from becoming infected.These factors contribute to future intentions to eliminate cash payments once the pandemic is ended as well as the choice of payment methods currently in use.Even after the pandemic,people are using digital cashless payments for their daily transactions.This study investigates the impact of the coronavirus on consumer demand for cash and cashless payments during the COVID-19 crisis and beyond.This study utilizes the secondary research method by employing the annual statistical report of European Central Bank(ECB)(2021).The data were extracted from the warehouse of ECB,and rigorous analysis was performed to assess the intentions of customers for using digital transactions for payments.In the study,a regression analysis shows that a greater increase in the number of cards used for payment per year occurred during the COVID-19 pandemic than before the pandemic.The study demonstrates that there was a significant correlation between the adoption of cashless payment systems and the restrictions imposed on consumers because of the pandemic.Customers prefer cashless transactions when there is a higher danger of infection while handling cash.
文摘With an increasing number of consumers in China not carrying cash when going shopping. the value of mobile payments has skyrocketed over the past years, reaching $5.2 trillion in 2016. Could it also mean that cashiers are on their way out, becoming a phenomenon ofyesteryear？
