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on Payment Systems and Financial Technology |
| By: | Bissessar, Shiva |
| Abstract: | This report examines the usage of digital currency technology in the Caribbean subregion with a view to drawing attention to the opportunities and risks associated with this new phenomenon. It discusses the broader context of an emerging activity at the global level and considers how this technology could address subregional deficiencies in the electronic payment infrastructure. The report also discusses mobile money solutions, and the relationship of that technology to digital currency. |
| Keywords: | INTERNET, DINERO, TRANSFERENCIA ELECTRONICA DE FONDOS, TECNOLOGIA DE LA INFORMACION, TECNOLOGIA DE LAS COMUNICACIONES, INNOVACIONES, DESARROLLO REGIONAL, ESTRATEGIAS DEL DESARROLLO, PAISES INSULARES EN DESARROLLO, COOPERACION REGIONAL, MONEY, INTERNET, ELECTRONIC FUNDS TRANSFER, INFORMATION TECHNOLOGY, COMMUNICATION TECHNOLOGY, INNOVATIONS, REGIONAL DEVELOPMENT, DEVELOPMENT STRATEGIES, DEVELOPING ISLAND COUNTRIES, REGIONAL COOPERATION |
| Date: | 2016–01 |
| URL: | http://d.repec.org/n?u=RePEc:ecr:col033:39860&r=pay |
| By: | Aithal, Sreeramana; Kumar, Suresh |
| Abstract: | A bank is a financial intermediary and creates money by lending money to a borrower, thereby creating a corresponding deposit on the bank's balance sheet. Lending activities can be performed directly by loaning or indirectly through capital markets. After the advent of technology and its penetration to all business fields, the responsibility of banks is enhanced to provide better, speedy, and ubiquitous service to the customers so that it can create more money and hence profit. Banks are formulating various strategies in order to attract more deposits and lend it to genuine customers to get a better return and hence make more profit. Based on such objective of a general banking system, the ideal concept of the banking system is developed. The ideal bank is a system with ideal banking characters. In this paper, a model of the ideal banking system is proposed by considering the ideal characteristics expected under input conditions, output conditions, system requirements, and environmental conditions. The factors affecting these characteristics are identified using a qualitative data collection instrument namely focus group method. Finally, some of the possible technology supported models which support the concept of Ideal banking are identified and analyzed. It is found that electronic banking using mobile devices called mobile banking or ubiquitous banking system has characteristics close to the features of the ideal banking system. |
| Keywords: | Banking innovations, Ideal concept of banking system, Characteristics of ideal banking system, Mobile banking, Ubiquitous Banking. |
| JEL: | G2 |
| Date: | 2016–06–10 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:72338&r=pay |
| By: | Mihai, Gabriel |
| Abstract: | The mechanism of payment and compensation is an important component of the monetary system and financial infrastructure of the economy, ensuring the cash flow and the transfer of monetary assets. Due to the development of the trade and the economic modernization the payment in scriptural money (currency account) was imposed in the internal and international transactions, the circuit of payment instruments and credit (bills of exchange, checks, promissory notes) amplified and, recently, the electronic payment became functional by using bank cards and computerization of settlement systems, which have contributed to ensuring payment in real time, reducing the risks and costs of funds transfer. |
| Keywords: | instruments of payment, monetary assets, bill of exchange, international commerce, fiduciary currency, transaction settlement |
| JEL: | F33 G23 K22 |
| Date: | 2016–05–15 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:72181&r=pay |
| By: | Alfredo G. A. Valladão |
| Abstract: | Latin American economies are facing two historically defining challenges. First, how to cope with the end of the commodities “super-cycle” and the prospect of a long period of low prices for basic natural resources. After all, raw materials production and semi-industrialized goods encompass most of their comparative advantages. Second, and even more exacting, how to adjust to the present disruptive transition from an old to a new global economic and social model. The 20th century industrial organization is progressively losing its dominant position to 21st century “digital” economy, based on permanent innovation, a pervasive use of information and communications technologies (ICT), and a service-packed consumer-driven organization of production. The 800-pound gorilla question is: where does Latin American societies – and for that matter most developing countries – fit in this new era? |
| Date: | 2016–06 |
| URL: | http://d.repec.org/n?u=RePEc:ocp:rpaper:pp-16/09&r=pay |