Financial Inclusion
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Digital Payments: Prospects for South Asia and Pakistan
52 Journal of Contemporary Studies, Vol. V, No.2, Winter 2016 DIGITAL PAYMENTS: PROSPECTS FOR SOUTH ASIA AND PAKISTAN Dr. Muhammad Zia-Ur-Rehman & Umara Afzal* Abstract The study focuses on the prevailing digital payment patterns across South Asia and the trends and challenges emerging in Pakistan. Some of the crucial digital payment instruments and devices in relation to the e-commerce, m-commerce environment are analysed. The ways in which South Asian businesspersons, customers and employers are replacing hard cash with digital payments are examined. Based on such analysis of trends and patterns widespread in today’s world, the article also discusses the advantages of various devices of digital payments. The paper underscores the prospects and policy recommendations of digital payment trends in Pakistan. Key Words: Digital Payments, Mobile Payments, QR Codes, Point of Sales, NFC, South Asian Trends Introduction n early 2000s, digital payments became a global phenomenon. In developing countries of South Asia digital payments within the realm I of Mobile Banking has recently caught more attention.1 With the help of digital payments, consumers pay bills for products and enterprises operate with them at the core of their business models, utilizing various smart phones, gadgets and tablets. The benefits of digital payments are * Dr. Muhammad Zia-ur-Rehman is Assitant Prof. at Department of Leadership and Management Studies, National Defence University. Umara Afzal is a former M.Phil Scholar of Department of Leadership and Management Studies, National Defence University. 1 Tomi Dahlberg, Niina Mallat, and Anssi Öörni, Trust Enhanced Technology Acceptance Model-Consumer Acceptance of Mobile Payment Solutions, the Stockholm Mobility Roundtable 2003 (Finland, 2003), https://pdfs.semanticscholar.org/d6b6/7e730218100e82c70525249462b02 4515d0b.pdf. -
Features and Usefulness of Alipay
Advances in Social Sciences Research Journal – Vol.6, No.7 Publication Date: July. 25, 2019 DoI:10.14738/assrj.67.6857. Mushtaq, M., Ashfaq, K., Almas, H., & Qadeer, I. (2019). Features and Usefulness of Alipay. Advances in Social Sciences Research Journal, 6(7) 424-431. Features and UseFulness oF Alipay Mubshira Mushtaq University of Management and Technology, Pakistan Kalsoom AshFaq University of Management and Technology, Pakistan Humeria Almas University of Management and Technology, Pakistan Iqra Qadeer University of Management and Technology, Pakistan ABSTRACT In virtual market and advanced technology, mobile payment application Alipay emerged prominently having strong competitive edge over rivalry. This application was initiated by Alibaba and nowadays leading with market shares. Its quite common and useFul in everyday liFe especially in china where payments and receipts are surrounds QR (Quick Response) codes. This application just adds more convenience to routine liFe to quite big transactions. People oF all categories and occupations are using Alipay in china. Other than china this application is also diversiFying its roots internationally. Alipay is very Famous & popular electronic application in china. Alipay is saFe, simple & convenient application. It is now in trend. Alipay technology is at maturity level in china. It is very useFul in daily life activities like online shopping, in restaurants, booking oF tickets, For business purposes, For home delivery oF Food. Alipay has Following Features like security, even – handed, productive & Forthrightness. Keywords: QR codes, mobile Payment aPPlication, TAM, market leader, usefulness and effectiveness in everyday life , e-business INTRODUCTION AliPay technology firstly introduced in china. It is the unique and advanced Payment technology which came rebellion in china. -
Journal of Contemporary Studies a Biannual Publication of Faculty of Contemporary Studies
Journal of Contemporary Studies A biannual publication of Faculty of Contemporary Studies Patron-in-Chief Lieutenant General Nazir Ahmed Butt, HI (M), President, National Defence University, Islamabad. Chairman Prof. Dr. Pervaiz Iqbal Cheema, Dean, Faculty of Contemporary Studies, National Defence University, Islamabad EDITORIAL BOARD Editor-in-Chief Dr. Zulfqar Khan Editor Dr. Shaheen Akhtar Assistant Editors Dr. Khuram Iqbal Mr. Tasawar Hussain EDITORIAL ADVISORY BOARD Prof. Ian Talbot, Professor of Modern British History at the University of Southampton, UK. Prof. Dr. Sally Wallace, Andrew Young School of Policy Studies, Georgia State University, USA. Prof. Dr. Mehmet Asutay School of Government and International Affairs, Durham University, UK. Prof. Marvin G. Weinbaum, Director for Pakistan Studies at the Middle East Institute, USA. Dr. Andrew Futter, Associate Professor of International Politics at University of University of Leicester, UK. Dr. Julian Droogan, Department of Security Studies and Criminology, Macquarie University, Australia. Dr. S. Gulden Ayman, Associate Professor, Marmara University Istanbul, Turkey. Dr. Nishchal N. Pandey, Director Centre for South Asian Studies, Kathmandu, Nepal. Dr. Ying Rong, Senior Research Fellow, China Institute of International Studies (CIIS). Professor Tim Edmunds, Director of Teaching and Learning School of Sociology, Politics and International Studies (SPAIS), University of Bristol, Bristol, United Kingdom. Dr. Hasan Askari Rizvi, Political and Defence Analyst, Pakistan. Dr. Moonis Ahmar, Dean, Faculty of Arts, University of Karachi, Pakistan. Dr. Rashid Ahmad Khan, Dean Social Sciences, University of Sargodha, Pakistan. Dr. Ejaz Hussain, Professor National Institute of Pakistan Studies, Quaid-i-Azam University, Islamabad. Winter 2016 Volume V, Number 2 JOURNAL OF Editor-in-Chief Dr. -
Financial Inclusion in Colombia: a Scoping Literature Review
Intangible Capital IC, 2017 – 13(3): 582-614 – Online ISSN: 1697-9818 – Print ISSN: 2014-3214 https://doi.org/10.3926/ic.946 Financial inclusion in Colombia: A scoping literature review Ulf Thoene , Álvaro Turriago-Hoyos* Universidad de La Sabana (Colombia) [email protected], *Corresponding author: [email protected] Received November, 2016 Accepted March, 2017 Abstract Purpose: The paper provides an extensive, comprehensive and up-to-date qualitative scoping literature review of financial inclusion and other related concepts, and focuses in particular on the Colombian context, and the accessibility as well as barriers to banking services. It structures the themes and dimensions of scholarly debates on financial inclusion in the literature highlighting avenues for future research to fill various gaps. Design/methodology: This scoping literature review rigorously identifies the most relevant research and variables pertaining to financial inclusion and social innovation. Findings: Based on a scoping literature review, a comprehensive framework of key concepts of financial inclusion, scholarly contributions, countries and variables is presented. Research limitations/implications: Owing to the methodological approach of this paper and its rather theoretical nature, this research seeks to enrich scientific debates pertaining to the empirical data displayed, especially on the case of Colombia. Practical implications: The most central variables that are linked to the theme of financial inclusion are explored, and hence this paper forms a basis for future qualitative and quantitative studies. Social implications: This research article contributes to public policy making on financial inclusion aimed at reducing levels of socio-economic inequality. -582- Intangible Capital – https://doi.org/10.3926/ic.946 Originality/value: In business and management research a degree of conceptual confusion prevails on the theme of financial inclusion. -
Ferdig-Master.Pdf
Abstract Mobile banking has been anticipated as the next step in digital finance for years. It is now, suddenly emerging in the developing world as a viable option for bringing banking services to the unbanked population of the world. The first part of my research question is: what issues resulted in the slow adoption of mobile banking? I find that the main reasons is the lack of a standard, providing a framework for innovations to emerge in. The second part of my research question then follows as, what are the dynamics between standardization and innovation in the Pakistani mobile banking market? To study this I conduct an empirical study of Easypaisa, analysing it in light of Information infrastructure theory. My findings are based on three topics. Firstly, that the establishment of the OTC money transfer standard has made the original plan for expansion change direction, focusing more on innovating on top of this standard rather than trying to change the standard itself. Secondly, my findings suggest that new trends in the mobile banking industry is requiring Easypaisa to change their internal system to allow for easy integration of 3’rd parties innovators. Thirdly, they suggest that the strong regulation of the branchless banking industry in Pakistan both enable and constrain innovation in the industry. I find that Easypaisa’s exploratory and bottom up approach to development have enabled them to be flexible enough to handle the regulatory standards imposed by the government and have enabled them to establish the OTC standard money transfer option. Further they suggest that the scaling of mobile banking solutions requires standard to emerge, however, it also needs flexibility to allow for innovation. -
Is China's New Payment System the Future?
THE BROOKINGS INSTITUTION | JUNE 2019 Is China’s new payment system the future? Aaron Klein BROOKINGS INSTITUTION ECONOMIC STUDIES AT BROOKINGS Contents About the Author ......................................................................................................................3 Statement of Independence .....................................................................................................3 Acknowledgements ...................................................................................................................3 Executive Summary ................................................................................................................. 4 Introduction .............................................................................................................................. 5 Understanding the Chinese System: Starting Points ............................................................ 6 Figure 1: QR Codes as means of payment in China ................................................. 7 China’s Transformation .......................................................................................................... 8 How Alipay and WeChat Pay work ..................................................................................... 9 Figure 2: QR codes being used as payment methods ............................................. 9 The parking garage metaphor ............................................................................................ 10 How to Fund a Chinese Digital Wallet .......................................................................... -
Financial Inclusion: the Indian Experience
FINANCIAL INCLUSION - INDIAN EXPERIENCE Financial Inclusion (FI) “Simplicity and reliability in financial inclusion in India, though not a cure all, can be a way of liberating the poor from dependence on indifferently delivered public services. In order to draw in the poor, the products should address their needs — a safe place to save, a reliable way to send and receive money, a quick way to borrow in times of need or to escape the clutches of the money lender, easy to understand life and health insurance and an avenue to engage in savings for the old age.” Raghuram Rajan, Governor, Reserve Bank of India Status of financial coverage in India u 246.7 million households in the country, 58.7% households had access to banking services as per Census 2011 u 54.46% rural u 67.68% urban u The banking network comprises of 128,397 branches and 189,844 ATMs u 38.2% branches and 14.58% ATMs are in rural areas u Left out of this coverage u Villages <2000 population u Migrant labourers and poor working in informal sector u Small and marginal farmers practising rain-fed agriculture u Women Pradhan Mantri Jan Dhan Yojana (PMJDY) National Mission on Financial Inclusion was announced by Shri Narendra Modi, Prime Minister, in his Independence Day Speech on August 15, 2014. Scope and Plan under PMJDY (i) Universal access to banking facilities for all households across the country through a bank branch or a fixed point Business Correspondent (BC) within a reasonable distance (60 million rural and 15 million urban are uncovered). -
All Pakistan Women Chambers' Presidents Call on Sania Nishtar To
Government of Pakistan Poverty Alleviation and Social Safety Division Press Release All Pakistan Women Chambers’ Presidents call on Sania Nishtar to seek partnership under Ehsaas December 3, 2019- Islamabad: Presidents of all Pakistan Women Chambers accompanied by leadership of Rawalpindi Chamber of Commerce and Industry called on Dr. Sania Nishtar, Special Assistant to the Prime Minister on Social Protection and Poverty Alleviation at the Prime Minister’s Secretariat. The meeting took stock of key challenges and opportunities for women entrepreneurs around economic activities in the country and explored options for supporting the Women Chambers under the Ehsaas that is the multisectoral antipoverty programme of the Government. The entrepreneurial women leaders from 11 Women Chambers all across Pakistan came to the table immediately following their interaction with Dr. Nishtar at the inauguration of a three day Third All Pakistan Women Chambers Presidents’ Summit (APWCPS) in Rawalpindi. Presidents and members of Women Chambers flagged the need for institutional support to run the secretariats of the Chambers. Dr. Nishtar assured them that it will be explored at the highest level. Women Chambers were briefed about the new Financial Inclusion Policy of Ehsaas and Dr. Sania assured them that a briefing will be arranged for members of the Women Chambers so that they can better understand how to access credit through the window of Ehsaas. In addition, they reiterated the need for support through Export Development Fund. Dr. Nishtar reassured them that this will be discussed with the Ministry of Commerce for further necessary action. “In order for us to succeed as a country and grow our economy, we need many more women in Pakistan to have opportunities to learn, earn and thrive,” Dr. -
1 First Quarter 2021 Buyside Call | May 6, 2021
First Quarter 2021 Buyside Call | May 6, 2021 C O R P O R A T E P A R T I C I P A N T S John Rainey, Chief Financial Officer and Executive Vice President, Global Customer Operations Gabrielle Rabinovitch, Vice President, Corporate Finance & Investor Relations C O N F E R E N C E C A L L HOST James Faucette, Morgan Stanley P R E S E N T A T I O N Operator Welcome to the PayPal Virtual Fireside Chat conference call. At this time, all participants are in listen only mode. Please be advised that today's conference is being recorded. If you require any further assistance, please press star zero. I would now like to hand the conference over to your speakers today, James Faucette, please go ahead. James Faucette Hey everybody. And thanks for joining us today in this conversation with John Rainey, CFO of PayPal. We also have Gabrielle Rabinovitch from the IR team, who's now doing more work within operations itself [corporate finance], so she can provide some color there as well. Look, as we go through, I've got prepared list of questions here. Honestly, we've got 45 minutes. Hopefully, we can get through a big part of those. I think that we actually could do a Joe Rogan podcast if we want, John, but I won't subject you to that. As we're going along, if anybody does have anything that they want to make sure that we hit on, 1 First Quarter 2021 Buyside Call | May 6, 2021 feel free to email me here at [email protected], and we'll try to incorporate that as well. -
Guidance on Financial Inclusion and Financial Health Target Setting 4 Table of Contents Introduction
Guidance for banks Financial Inclusion and Financial Health Target Setting Principles for Responsible Banking Acknowledgments The content of this document is based on discussions and work undertaken in the Principles for Responsible Banking Target Setting for Financial Inclusion and Financial Health working group. We also wish to acknowledge contributions made by the following external stakeholders: International Finance Corporation, Office of United Nations Secretary-General’s Special Advo- cate for Inclusive Finance for Development (UNSGSA), European Banking Federation, Alliance for Financial Inclusion (AFI) and UNI Global Union. Project Team Leigh Smyth Maria Eugenia Sosa Taborda Laxmi Aeshwarya Kumar Global Social Inclusion Consultant Johanna Dichtl Puleng Ndjwili-Potele Published by UNEP Finance Initiative UNEP Finance Initiative in April 2021 International Environment House 11–13 Chemin des Anémones Copyright © UNEP Finance Initiative CH-1219 Châtelaine, Geneva Switzerland Table of contents Introduction 5 Framework for financial inclusion and financial health 7 Operational process for setting targets 9 Step 1: Understand your bank’s country context and national policies Step 2: Set baselines and identify priorities Step 3: Set SMART targets Step 4: Determine measures and actions Step 5: Define Key Performance Indicators Examples of targets 15 Appendix 25 Appendix A: World Bank database to understand your country context. Appendix B: Other resources to understand your country context. Appendix C: Potential KPIs to set baselines and targets. Appendix D: Vulnerability and equality Appendix E: Examples of financial inclusion and financial health initiatives Principles for Responsible Banking. Guidance on financial inclusion and financial health target setting 4 Table of contents Introduction Financial inclusion and financial health are cornerstones for international development. -
Caluwaerts JSC Page.Qxd
Journal of Payments Strategy & Systems Volume 9 Number 1 Social networks, game-changer for e-money? Will social networks (e-)monetise the payments industry? Philippe Caluwaerts Received (in revised form): 6th December, 2014 Policy Officer, Audit and Credit Rating Agencies Unit, Financial Stability, Financial Services and Capital Markets Union Directorate General, European Commission, Rue de Spa 2 (SPA2 01/103), 1049 Brussels, Belgium Tel: (32-2) 2984811; e-mail: [email protected] Philippe Caluwaerts is Policy Officer in the ecosystem lacking global standards and requir- Directorate-General Financial Stability, Financial ing enhanced collaboration between mul tiple Services and Capital Markets Union of the stakeholders including financial institutions, card European Commission. He was previously schemes, mobile network operators, service involved in the design and implementation of the providers and merchants, and the sometimes European policy on payment services and retail fragmented regulatory regimes, all have to be financial services. As part of his duties, he took addressed for e-money to be successful. This part in the design and negotiation of the revised paper describes why we may be at the forefront rules on electronic money and electronic money of a breakthrough in the e-money market, institutions (Directive 2009/110/EC), which were driven by social networks. In particular, the adopted in September 2009. Currently, he is uptake of electronic commerce, the boom of social expert in the EU regulation on credit rating agen- networks connecting families across the globe cies. Before joining the Commission, he worked and creating opportunities for money remittance, in the private sector in banking, mobile telecom- the active presence of merchants on social net- munications and consulting. -
Prime Minister Imran Khan Complaint Cell App
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