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on Payment Systems and Financial Technology |
| By: | Lwanga Mayanja, Musa; Adong, Annet |
| Abstract: | This study provides a micro perspective on the impact that mobile money services have on an individual’s saving behavior using 2013 Uganda FinScope data. The results show that although saving through mobile phones is not a common practice in Uganda, being a registered mobile money user increases the likelihood of saving with mobile money. Using mobile money to save is more prevalent in urban areas and in the central region than in other regions. This can be explained by several factors. First, rural dwellers on average tend to have lower incomes and thus have a lower propensity to save compared with their urban counterparts. Second, poor infrastructure in rural areas in terms of the lack of electricity and poor telecommunication network coverage may limit the use of mobile phones and consequently the use of mobile money as a saving mechanism. Overall, the use of mobile money as a saving mechanism is still very low, which could be partly explained by legal limitations that do not incorporate mobile finance services into mobile money. The absence of interest payments on mobile money savings may also act as a disincentive to save through this mechanism. Given the emerging mobile banking services, there is need to create greater awareness and to enhance synergies between telecoms companies and commercial banks. |
| Keywords: | Mobile Money, Financial Inclusion, Savings, Uganda, Demand and Price Analysis, Financial Economics, Public Economics, Research and Development/Tech Change/Emerging Technologies, Risk and Uncertainty, |
| Date: | 2016–03 |
| URL: | http://d.repec.org/n?u=RePEc:ags:eprcrr:253557&r=pay |
| By: | Janine Aron |
| Abstract: | Mobile money is a recent financial innovation giving financial transaction services via a mobile phone, including to the unbanked global poor. Mobile money technology has spread rapidly in the developing world, “leapfrogging” the provision of formal banking services by solving the problems of weak institutional infrastructure and the cost structure of conventional banking. This survey examines the evolution of mobile money, its important role in widening financial inclusion, and the impact of regulation on the development of mobile money systems. It explores the channels of economic influence of mobile money from both a micro and a macro perspective, and presents the first critical survey of the current state of micro and macro empirical literature on the economic impact of mobile money. |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:csa:wpaper:2017-02&r=pay |
| By: | Satria, Rd. Okky; Suzanto, Boy; Sidharta, Iwan |
| Abstract: | The success of a company in today’s high level of competition requires the company to gain trust of consumers. Customer satisfaction and loyalty are crucial in order for a company to gain competitive advantages. Similarly, in the attempt to gain competitive advantages, providers of mobile broadband services should determine the extent of consumer perceptions of the services they provide. Thus, measuring the perception of satisfaction and loyalty, especially the use of mobile broadband services is the goal of this study. Exploratory research method was used towards respondents, which involved 148 students. Data were analyzed using Structural Equation Modeling (SEM), component-based Partial Least Squares (PLS). The results show that the variables of complaint, customer expectation, loyalty, perceived quality, customer satisfaction, and perceived value are significantly influential in shaping customer satisfaction and loyalty upon the use of mobile broadband services. |
| Keywords: | customer satisfaction, loyalty, customer mobile broadband |
| JEL: | M3 M30 M39 |
| Date: | 2015–06–15 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:76779&r=pay |
| By: | Jacqueline Damant; Martin Knapp; Paul P. Freddolino; Daniel Lombard |
| Abstract: | It is often asserted that older people's quality of life (QOL) is improved when they adopt information and communication technology (ICT) such as the Internet, mobile phones and computers. Similar assumptions are made about older people's use of ICT-based care such as telecare and telehealth. To examine the evidence around these claims, we conducted a scoping review of the academic and grey literature, coving the period between January 2007 and August 2014. A framework analysis approach, based on six domains of QOL derived from the ASCOT and WHOQOL models, was adopted to deductively code and analyse relevant literature. The review revealed mixed results. Older people's use of ICT in both mainstream and care contexts has been shown to have both positive and negative impacts on several aspects of QOL. Studies which have rigorously assessed the impact of older people's use of ICT on their QOL mostly demonstrate little effect. A number of qualitative studies have reported on the positive effects for older people who use ICT such as email or Skype to keep in touch with family and friends. Overall, the review unearthed several inconsistencies around the effects of older people's ICT use on their QOL, suggesting that implicit agreement is needed on the best research methods and instrumentation to adequately describe older people's experiences in today's digital age. Moreover, the available evidence does not consider the large number of older people who do not use ICT and how non-use affects QOL. |
| Keywords: | nternet; older people; quality of life; technology; telecare; telehealth |
| JEL: | L91 L96 |
| Date: | 2016–02–16 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:65650&r=pay |
| By: | FUJI Kazuhiko |
| Abstract: | In Japan with its low birthrate and an aging population, people are having difficulty in building relationships with each other. Families are losing their traditional roles, and local communities have not been revitalized yet. In such circumstances, community currencies are effective in turning things around as money plays the role as the lubricating oil of relationships in Japanese society. During the Edo period, community currencies (hansasu) contributed to the revitalization of regional economies. Since the war ended, community currencies have become unfamiliar to Japanese people. Thanks to the application of blockchains (digital currencies), the cost of flotation of community currencies have lowered dramatically. Furthermore, legal and tax problems have been solved. Companies which pay attention to the potentiality of community currencies have begun to introduce this as a means of revitalizing the regional economies. From the viewpoint of the welfare of regional societies, local governments should take the initiative in managing community currencies and stimulate the organization of multi-layer communities. To strengthen confidence in community currencies, a mechanism that reflects the demand of residents should be structured. Such policy is essential as the first step toward a true local autonomy. |
| Date: | 2017–01 |
| URL: | http://d.repec.org/n?u=RePEc:eti:rpdpjp:17001&r=pay |
| By: | Alexander J.A.M. Van Deursen; Ellen J. Helsper; Rebecca Eynon |
| Abstract: | Although a number of instruments have been used to measure Internet skills in nationally representative surveys, there are several challenges with the measures available: incompleteness and over-simplification, conceptual ambiguity, and the use of self-reports. Here, we aim to overcome these challenges by developing a set of reliable measures for use in research, practice, and policy evaluations based on a strong conceptual framework. To achieve this goal, we carried out a literature review of skills-related studies to develop the initial Internet skills framework and associated instrument. After the development of this instrument, we used a three-fold approach to test the validity and reliability of the latent skill constructs and the corresponding items. The first step consisted of cognitive interviews held in both the UK and the Netherlands. Based on the cognitive interview results, we made several amendments to the proposed skill items to improve clarity. The second step consisted of a pilot survey of digital skills, both in the UK and in the Netherlands. During the final step, we examined the consistency of the five Internet skill scales and their characteristics when measured in a representative sample survey of Dutch Internet users. The result is a theoretical, empirically and cross-nationally consistent instrument consisting of five types of Internet skills: operational, navigation information, social, creative, and mobile. |
| Keywords: | Internet skills; digital skills; interviews; scale construction |
| JEL: | L91 L96 |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:64485&r=pay |
| By: | Dolata, Ulrich |
| Abstract: | Based on a systematic review and evaluation of business reports, documents, statistics, literature and press releases, this paper analyzes the market concentration and the expansion and innovation strategies of the leading internet companies Google, Facebook, Apple, Amazon and Microsoft. The findings invalidate any claims that a decentralization of the market and a democratization of the internet is taking place, or that research, development and innovation processes are becoming more open and collaborative. The five examined companies, as the operators of the core infrastructures of the worldwide web, shape the overall products and services offer of the internet, determine access to the web, structure the communication possibilities for users, and are the main drivers of innovation in this field. Not decentralization, democratization and open innovation, but market concentration, control and power struggles are categories to adequately describe the fundamental dynamics of the commercial internet. |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:stusoi:201701&r=pay |
| By: | Javier Sebastian |
| Abstract: | Distributed ledger technologies (DLTs), including blockchains, are increasingly getting a massive interest from established industries. The interest is especially strong among financial services firms, which are starting to see DLTs as a potential driver of huge savings in infrastructure and back-office processes. |
| Keywords: | Digital economy , Global , Working Paper |
| JEL: | O33 |
| Date: | 2016–12 |
| URL: | http://d.repec.org/n?u=RePEc:bbv:wpaper:1620&r=pay |
| By: | Voeten, Jaap (Tilburg University, School of Economics and Management) |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:tiu:tiutis:1f1d9449-8aed-43ef-b1ac-eecfce77ead4&r=pay |
| By: | Valentina Aprigliano (Bank of Italy); Guerino Ardizzi (Bank of Italy); Libero Monteforte (Bank of Italy) |
| Abstract: | Payment systems track economic transactions and therefore could be considered important indicators of economic activity. This paper describes the available monthly data on the retail settlement system for Italy and selects some of them for short-term forecasting. Using a mixed frequency factor model to predict Italian GDP, we find that payment system flows stand out when compared to other standard business cycle indicators. |
| Keywords: | short term forecasting, LASSO, mixed frequency models, Kalman smoothing, payment systems, TARGET2 |
| JEL: | C53 E17 E27 E32 E37 E42 |
| Date: | 2017–02 |
| URL: | http://d.repec.org/n?u=RePEc:bdi:wptemi:td_1098_17&r=pay |
| By: | Jacques Bughin; Nicolas van Zeebroeck |
| Keywords: | digital disruption; digital transformation; digital strategy; information technology; firm dynamics |
| Date: | 2017–02–22 |
| URL: | http://d.repec.org/n?u=RePEc:ict:wpaper:2013/247037&r=pay |
| By: | Prüfer, Jens (Tilburg University, Center For Economic Research); Schottmuller, C. (Tilburg University, Center For Economic Research) |
| Abstract: | This paper studies competition in data-driven markets, that is, markets where the cost of quality production is decreasing in the amount of machine-generated data about user preferences or characteristics, which is an inseparable byproduct of using services offered in such markets. This gives rise to data-driven indirect network effects. We construct a dynamic model of R&D competition, where duopolists repeatedly determine their innovation investments, and show that such markets tip under very mild conditions, moving towards monopoly. In a tipped market, innovation incentives both for the dominant firm and for competitors are small. We also show under which conditions a dominant firm in one market can leverage its position to a connected market, thereby initiating a domino effect. We show that market tipping can be avoided if competitors share their user information. |
| Keywords: | big data; datafication; data-driven indirect network effects; dynamic competition; regulation |
| JEL: | D43 D92 L13 L43 L86 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:tiu:tiucen:b09cad5c-e6eb-4fe7-9184-fd52eaabf9e2&r=pay |
| By: | Nestor Duch-Brown (European Commission – JRC); Bertin Martens (European Commission – JRC); Frank Mueller-Langer (European Commission – JRC) |
| Abstract: | Despite the rapidly growing volume and economic importance of data in the digital economy, the legal framework for data ownership, access and trade remains incompletely defined in the EU and elsewhere. De facto data ownership dominates and often leads to fragmentation or anti-commons problems in data. Combined with limited access and trade, this inhibits the realisation of the full economic benefits of non-rival data. It may slow down innovation and affect the efficiency of data markets. We examine three potential sources of data market failures: externalities related to economies of scope in data, strategic behaviour of data owners and transaction costs in data exchanges. We link the legal debate on data ownership with relevant branches of the economics literature, including intellectual property rights economics, the commons and anti-commons literature, models of trade under the Arrow Information Paradox and multi-sided markets. Economists are inclined to think that well-defined private property rights are a necessary condition for an efficient resource allocation. The question in this paper is to what extent this view holds for non-rival data. We show that the allocation of data ownership or residual control rights matters, not only for private benefits but also for social welfare. The outcomes of bargaining over data ownership and access rights do not necessarily maximize social welfare. Can regulators intervene to improve these outcomes? Would a better specification of legal ownership rights or introducing access provisions to improve efficiency and reduce data market failures? There are no easy answers to these largely empirical questions. We offer no policy solutions yet and more research is required to bring economics up to speed with these questions. |
| Keywords: | digital single market, data economy, anti-commons, copyright, data trade, data ownership, property rights |
| JEL: | D23 K11 K12 L86 |
| Date: | 2017–02 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:decwpa:2017-01&r=pay |