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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. -
Introducing Reach and Range for Digital Payment Platforms Kalina S
View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by AIS Electronic Library (AISeL) Association for Information Systems AIS Electronic Library (AISeL) International Conference on Mobile Business 2015 International Conference on Mobile Business (ICMB) Winter 12-12-2015 Introducing Reach And Range For Digital Payment Platforms Kalina S. Staykova Copenhagen Business School, [email protected] Jan Damsgaard Copenhagen Business School, Copenhagen, Frederiksberg, Denmark, [email protected] Follow this and additional works at: http://aisel.aisnet.org/icmb2015 Recommended Citation Staykova, Kalina S. and Damsgaard, Jan, "Introducing Reach And Range For Digital Payment Platforms" (2015). 2015 International Conference on Mobile Business. 5. http://aisel.aisnet.org/icmb2015/5 This material is brought to you by the International Conference on Mobile Business (ICMB) at AIS Electronic Library (AISeL). It has been accepted for inclusion in 2015 International Conference on Mobile Business by an authorized administrator of AIS Electronic Library (AISeL). For more information, please contact [email protected]. INTRODUCING REACH AND RANGE FOR DIGITAL PAYMENT PLATFORMS Staykova, Kalina S., Copenhagen Business School, Howitzvej 60, 2000 Frederiksberg, Denmark, [email protected] Damsgaard, Jan, Copenhagen Business School, Howitzvej 60, 2000 Frederiksberg, Denmark, [email protected] Abstract Numerous digital payment solutions, which rely on new disruptive technologies, have been launched on the payment market in the recent years. But despite the growing number of mobile payment apps, very few solutions turn to be successful as the majority of them fail to gain a critical mass of users. In this paper we investigate two successful digital payment solutions in order to outline some of the factors which contribute to the widespread adoption of a digital payment platform. -
Using Digital Disbursements to Shake up the Legal World
DECEMBER 2019 Using Digital Disbursements To Shake Up The Legal World – Page 6 (Feature Story) powered by Uber launches Uber Money mobile wallet for drivers’ earnings – Page 10 (News and Trends) The instant payment challenges facing legal disbursements – Page 15 (Deep Dive) ® Disbursements Tracker Table ofOf Contents Contents WHAT’S INSIDE A look at changes in the disbursements space as support for and use of instant payment rails expands 03 across the U.S. FEATURE STORY An interview with Joshua Browder, founder and CEO of robot lawyer app DoNotPay, on digital disbursements’ adoption 06 obstacles and why law firms still cling to checks NEWS AND TRENDS The latest disbursements headlines, including a MoneyGram and KyckGlobal partnership that will bring digital 10 disbursements to underbanked U.S. consumers and JPMorgan Chase’s virtual bank account service for gig payments DEEP DIVE An in-depth exploration of legal disbursements, including the requirements to which they must adhere and why the sector 15 struggles to offer instant payments PROVIDER DIRECTORY 21 A look at the top disbursements market companies, including two additions ABOUT 122 Information about PYMNTS and Ingo Money Acknowledgment The Disbursements Tracker® is done in collaboration with Ingo Money, and PYMNTS is grateful for the company’s support and insight. PYMNTS.com retains full editorial control over the following findings, methodology and data analysis. © 2019 PYMNTS.com All Rights Reserved 2 What’s Inside United States consumers receive $4.6 trillion in payouts faster for millions of drivers. The company disbursements annually, but instant payments recently launched Uber Money, enabling real-time have yet to become the industry standard, even as deposits onto drivers’ company-branded debit checks fall out of favor. -
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. -
Mckinsey on Payments
Volume 8, Number 21 May 2015 McKinsey on Payments Foreword 1 Gauging the disruptive potential of digital wallets 3 While they have established a solid foundation for growth, digital wallets are by no means a guaranteed success. They must continue to evolve if they are to have a truly disruptive impact on the payments landscape. Providers can improve their chances by focusing on six “markers” for success in payments innovation. New partnership models in transaction banking 11 A number of trends are leading to a fundamental rethinking of the traditional model by which banks offer transaction banking services to clients outside their established markets. Four distinct partnership models offer the best opportunities for banks seeking to succeed in an evolving landscape. Toward an Internet of Value: An interview with Chris Larsen, 19 CEO of Ripple Labs McKinsey on Payments sits down with the co-founder of Ripple Labs to discuss the nuts and bolts of the Ripple protocol, the implications for the correspondent banking model, and the emergence of an “Internet of Value.” Faster payments: Building a business, not just an infrastructure 23 A faster payments infrastructure is not an end in itself, it is an opportunity for banks to deliver innovative products and services in both consumer and corporate payments. To monetize this opportunity, financial institutions should focus relentlessly on design, customer experience, accessibility and convenience. Faster payments: Building a business, not just an infrastructure 23 Faster payments: Building a business, not just an infrastructure To date, most discussions about building a “faster payments” system have focused primarily on speed and “plumbing.” Even more important, however, are the innovative products and services that an enhanced infrastructure will allow financial institutions to bring to market. -
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. -
DECEMBER 2020 What Executives Wish for America and the World in 2021
A LOOK FORWARD What Executives Wish for America And the World In 2021 DECEMBER 2020 What Executives Wish for America And the World In 2021 06 ACI Worldwide 42 FIS 78 Kount 114 Spreedly Innovation Will Accelerate The Digital Engaging Customers Wherever They May Be Doing Whatever It Takes To Protect Partners Importance Of Health And Safety (Along With Economy In 2021 Royal Cole, senior vice president, And Customers From Digital Fraud Payments Flexibility And Optimization) Debbie Guerra, executive vice president head of FI payments Brad Wiskirchen, CEO Justin Benson, CEO of merchant payments and payments intelligence solutions 46 FISPAN 82 NCR 118 Tango Card Embedded Banking Will Position Businesses Financial Institutions Will Need To Continue Innovations Through Uncertainty 10 Alacriti To Thrive Post-Pandemic Innovating Nat Salvione, chief commercial officer 2021: A Bright Future For Payments Lisa Shields, founder and CEO Doug Brown, senior vice president and general Manish Gurukula, CEO manager, NCR Digital Banking 122 Ternio 50 Flywire How COVID-19 Accelerated I Wish For Embedded Payments To Become 86 NorthLane The Adoption Of Digital Payments 14 Blackhawk Network 2020: Better Connected Through Reflection Ubiquitous In 2021 Let’s Keep The Spirit Of Innovation In The Cryptocurrency Space And Focus Ryan Frere, executive vice president Seth Brennan, CEO Daniel Gouldman, CEO Talbott Roche, CEO and general manager, B2B 90 Omni 126 The Clearing House 18 Brighterion 54 GeoGuard Balanced Approach To Ensure Zero Margin 2021 Innovation Goal: Better -
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. -
Visa's B2b Connect Looks to Change the Game in Cross-Border Payments
www.electronicpaymentsinternational.com Issue 386 / august 2019 CHAIN REACTION VISA’S B2B CONNECT LOOKS TO CHANGE THE GAME IN CROSS-BORDER PAYMENTS FEATURE INSIGHT COUNTRY SURVEYS How contactless wearable ISO 20022 will bridge Market analysis and payments are now at the a fundamental gap in payments data for Japan, front of most banks’ minds r-l;m|v1ollmb1-ঞom Luxembourg and the UK contents this month COVER STORY NEWS 11 05 / EDITOR’S LETTER 06 / DIGEST • NatWest, RBS suffer outages as millions struggle to access accounts • Wirecard partners with emonvia to digitise charging stations • Noor Bank partners with UnionPay for QR-based payments • StanChart and SAP Ariba agree partnership • HSBC signs licence with Australian fintech Identitii • Square integrates with POS software Goodtill • Melissa launches technology to ease ID verification • FreedomPay and Vista to collaborate in UK and Europe • JPMorgan to close Chase Pay app in early 2020 VISA B2B CONNECT 06 Editor: Group Editorial Director: Director of Events: Douglas Blakey Ana Gyorkos Ray Giddings +44 (0)20 7406 6523 +44 (0)20 7406 6707 +44 (0)20 3096 2585 [email protected] [email protected] [email protected] Senior Reporter: Sub-editor: Head of Subscriptions: Patrick Brusnahan Nick Midgley Alex Aubrey +44 (0)20 7406 6526 +44 (0)161 359 5829 +44 (0)20 3096 2603 [email protected] [email protected] [email protected] Junior Reporter: Publishing Assistant: Sales Executive: Evie Rusman v;m- ;उbul;m1b Jamie Baker +44 (0)20 7406 6701 +44 (0)20 3096 2633 +44 203 096 2622 [email protected] [email protected] [email protected] Customer Services: +44 (0)20 3096 2603 or +44 (0)20 3096 2636, [email protected] Financial News Publishing, 2012. -
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 .......................................................................... -
List of Brands
Global Consumer 2019 List of Brands Table of Contents 1. Digital music 2 2. Video-on-Demand 4 3. Video game stores 7 4. Digital video games shops 11 5. Video game streaming services 13 6. Book stores 15 7. eBook shops 19 8. Daily newspapers 22 9. Online newspapers 26 10. Magazines & weekly newspapers 30 11. Online magazines 34 12. Smartphones 38 13. Mobile carriers 39 14. Internet providers 42 15. Cable & satellite TV provider 46 16. Refrigerators 49 17. Washing machines 51 18. TVs 53 19. Speakers 55 20. Headphones 57 21. Laptops 59 22. Tablets 61 23. Desktop PC 63 24. Smart home 65 25. Smart speaker 67 26. Wearables 68 27. Fitness and health apps 70 28. Messenger services 73 29. Social networks 75 30. eCommerce 77 31. Search Engines 81 32. Online hotels & accommodation 82 33. Online flight portals 85 34. Airlines 88 35. Online package holiday portals 91 36. Online car rental provider 94 37. Online car sharing 96 38. Online ride sharing 98 39. Grocery stores 100 40. Banks 104 41. Online payment 108 42. Mobile payment 111 43. Liability insurance 114 44. Online dating services 117 45. Online event ticket provider 119 46. Food & restaurant delivery 122 47. Grocery delivery 125 48. Car Makes 129 Statista GmbH Johannes-Brahms-Platz 1 20355 Hamburg Tel. +49 40 2848 41 0 Fax +49 40 2848 41 999 [email protected] www.statista.com Steuernummer: 48/760/00518 Amtsgericht Köln: HRB 87129 Geschäftsführung: Dr. Friedrich Schwandt, Tim Kröger Commerzbank AG IBAN: DE60 2004 0000 0631 5915 00 BIC: COBADEFFXXX Umsatzsteuer-ID: DE 258551386 1. -
Definitions the Reports Take Into Account a Broad Definition of B2C E-Commerce, Which Might Include Mobile Commerce
2 3 GENERAL METHODOLOGY OF MARKET REPORTS Secondary Market Research The reports are compiled based on secondary market research. Secondary research is information gathered from previously published sources. Our reports are based on information and data acquired from national and international statistical offices, industry and trade associations, business reports, business and company databases, journals, company registries, news portals and many other reliable sources. By using various sources we ensure maximum objectivity for reported data. As a result, companies gain a precise and unbiased impression of the market situation. Cross referencing of data is conducted in order to ensure validity and reliability. The source of information and its release date are provided on every chart. It is possible that the information contained in one chart is derived from several sources. If this is the case, all sources are mentioned on the chart. The reports include mainly data from the last 12 months prior to the date of report publication. Exact publication dates are mentioned in every chart. Definitions The reports take into account a broad definition of B2C E-Commerce, which might include mobile commerce. As definitions may vary among sources, exact definition used by the source (if available) is included at the bottom of the chart. Chart Types Our reports include text charts, pie charts, bar charts, rankings, line graphs and tables. Every chart contains an Action Title, which summarizes the main idea/finding of the chart and a Subtitle, which provides necessary information about the country, the topic, units or measures of currency, and the applicable time period(s) to which the data refers.