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on Payment Systems and Financial Technology |
| By: | Krüger, Malte; Seitz, Franz |
| Abstract: | Payment costs for consumers are difficult to determine, are not recorded in an internationally harmonized manner and vary significantly from country to country. They are incurred in many forms, for example as fees for account management, for cash withdrawals at ATMs or for payment cards; but also as financial damage in the event of loss or fraud. On the other hand, this also includes time costs, e.g. for cash withdrawals or the payment process, and costs of data disclosure. To determine the total costs and for international comparisons, different key figures are calculated, such as the cost per transaction, as a percentage of the transaction value or relative to GDP. After clarifying the concept of costs, the focus of our paper is on a critical review of the literature on cost studies at the consumer level. In particular, the results of existing work are compared, the most important cost categories are identified and sensitivity analyses are carried out. We find some key cost drivers and show how the results are driven by key assumptions. |
| Keywords: | cash, debit card, credit card, costs, consumer |
| JEL: | D12 E41 E42 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:imfswp:314427 |
| By: | Benedetti, Cindy (Bancoldex); Dussán Miranda , Danitza (Bancoldex); Cuenca Coral, María Esperanza (Fundación Universidad del Norte) |
| Abstract: | En este artículo se muestra que, a pesar de que en Colombia el acceso a los servicios financieros formales sigue siendo un reto para muchas microempresas, ya que sólo una pequeña parte obtiene con éxito créditos de fuentes tradicionales, una alternativa como neocrédito ha logrado resultados interesantes aportando de forma diferente a la inclusión financiera. Los más importantes resultados del canal digital de Bancóldex, neocrédito, se presentan haciendo énfasis en su neutralidad en género y ruralidad para las siguientes variables: i) diferencia entre la tasa más alta que se ha ofrecido a un microempresario y la finalmente contratada ii) ajuste entre el monto solicitado y el recibido. La variable plazo solicitado, se trabaja como un ajuste entre el plazo solicitado y el obtenido y se encuentra como una variable independiente dentro de este modelo. La metodología utilizada en el análisis objeto del presente artículo es básicamente cuantitativa y se realiza una exploración a través de correlaciones. Igualmente, se desarrolla un modelo de ecuaciones simultáneas en el que se analiza la influencia de algunos aspectos escogidos durante la exploración sobre las variables que se han seleccionado como factores determinantes en la decisión financiera. |
| Keywords: | Microempresas; financiación; crédito. |
| JEL: | A10 |
| Date: | 2024–11–19 |
| URL: | https://d.repec.org/n?u=RePEc:col:000383:000057 |
| By: | Phoebe Tian; Yu Zhu |
| Abstract: | This paper examines the price impacts of liquidations in decentralized finance (DeFi) lending and how they vary with fixed-spread and auction-based liquidation mechanisms. Using a theoretical framework, we show that the impact of these mechanisms depends on the liquidator participation cost, which determines the level of competition. Auctions mitigate the price impact of liquidations when the participation cost is low, but amplify them when it is high. Empirical analysis of Ethereum blockchain data shows that auction-based liquidations lead to smaller price drops by increasing competition, which raises collateral prices and reduces liquidation volumes. These findings underscore the importance of liquidation design in promoting market stability and mitigating fire-sale risks in DeFi lending. |
| Keywords: | Digital currencies and fintech |
| JEL: | D47 D44 G33 G20 |
| Date: | 2025–03 |
| URL: | https://d.repec.org/n?u=RePEc:bca:bocawp:25-12 |
| By: | Ioana Botea; Omar Ndiaye |
| Keywords: | Finance and Financial Sector Development-Payment Systems & Infrastructure |
| Date: | 2024–01 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:40860 |
| By: | Ethan, Amelia |
| Abstract: | The Effects of Social Media Marketing on Customer’s Purchase Intention; a Moderated Mediation Model from Apparel Industry of Pakistan |
| Date: | 2023–08–04 |
| URL: | https://d.repec.org/n?u=RePEc:osf:osfxxx:4dv2s_v1 |
| By: | Cristina Martinez Cuellar; Cornelia M. Tesliuc; Pascal Jaupart; Ailo Klara Manigat |
| Keywords: | Finance and Financial Sector Development-Access to Finance Finance and Financial Sector Development-Financial Literacy Macroeconomics and Economic Growth-Remittances Information and Communication Technologies-Poverty Reduction & ICT |
| Date: | 2023–09 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:40371 |
| By: | Travis Baseler (University of Rochester); Thomas Ginn (Center for Global Development); Ibrahim Kasirye (Economic Policy Research Centre); Belinda Muya (International Rescue Committee); Andrew Zeitlin (Georgetown University) |
| Abstract: | Constraints that inhibit small business growth are potentially amplified for groups with limited access to existing business networks like refugees and women. Programs that facilitate intergroup contact, in addition to capital, could potentially raise welfare, especially if incentives are aligned for participants to share information and invest effort in each other's outcomes. In a randomized trial with microentrepreneurs, we vary business grants, inclusion in a mentorship group, the gender and nationality composition of groups, and a "shared fate" component that compensates group members for the success of other members’ businesses. We find that grants substantially improve business outcomes for men, women, refugees, and hosts. Combining mentorship with cash has an additional positive effect for refugee men, but a negative effect relative to cash alone for women who run higher-profit firms. Mentors with higher baseline profits significantly improve mentees' business outcomes, while differences across group gender and nationality compositions are small. The shared fate addition worsens early outcomes in aligned groups but does not affect mixed groups. |
| Keywords: | Microentrepreneurship, Networks, Mentorship, Refugees |
| JEL: | D22 D74 D83 L14 L26 O12 O15 |
| Date: | 2025–03–31 |
| URL: | https://d.repec.org/n?u=RePEc:cgd:wpaper:716 |
| By: | World Bank |
| Keywords: | Finance and Financial Sector Development-Access to Finance Finance and Financial Sector Development-Financial Structures Finance and Financial Sector Development-Public & Municipal Finance Finance and Financial Sector Development-Payment Systems & Infrastructure |
| Date: | 2023–10 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:40421 |
| By: | Yu, Haoyang; Sun, Yutong; Liu, Yulin; Zhang, Luyao |
| Abstract: | Historically, gold and silver have played distinct roles in tra- ditional monetary systems. While gold has primarily been revered as a superior store of value, prompting individuals to hoard it, silver has com- monly been used as a medium of exchange. As the financial world evolves, the emergence of cryptocurrencies has introduced a new paradigm of value and exchange. However, the store-of-value characteristic of these digital assets remains largely uncharted. Charlie Lee, the founder of Lite- coin, once likened Bitcoin to gold and Litecoin to silver. To validate this analogy, our study employs several metrics, including unspent transac- tion outputs (UTXO), spent transaction outputs (STXO), Weighted Average Lifespan (WAL), CoinDaysDestroyed (CDD), and public on-chain transaction data. Furthermore, we’ve devised trading strategies centered around the Price-to-Utility (PU) ratio, offering a fresh perspective on crypto-asset valuation beyond traditional utilities. Our back-testing re- sults not only display trading indicators for both Bitcoin and Litecoin but also substantiate Lee’s metaphor, underscoring Bitcoin’s superior store-of-value proposition relative to Litecoin. We anticipate that our findings will drive further exploration into the valuation of crypto assets. For enhanced transparency and to promote future research, we’ve made our datasets available on Harvard Dataverse and shared our Python code on GitHub as open source. |
| Date: | 2023–07–31 |
| URL: | https://d.repec.org/n?u=RePEc:osf:osfxxx:t2fku_v1 |
| By: | ALOISI Antonio |
| Abstract: | The green and digital transitions are increasingly described as the ‘twin transition’ in EU policy documents, social partners’ strategic plans and academic debates. However, the exact meaning of this term remains ambiguous, and the interconnections between these transitions are largely unexplored. This paper aims to clarify the motivations and pitfalls behind their ‘twinning’ and assess where and how their convergence might be successful. It considers the socioeconomic risks, policy trade-offs and implications for the future of work. The analysis covers major EU employment and social policy developments concerning workers’ environmental and digital rights, as enshrined in legislation that presents a ‘mix’ between two distinct legal areas. A key finding is that the transitions are often treated as separate rather than integrated phenomena, with limited direct spillovers. However, despite shifts in institutional agendas and inconsistencies in understanding, the underlying priorities remain deeply entrenched. This paper identifies regulatory gaps and rigidities that maintain outdated, inflexible and hierarchical organisational paradigms, which are ill-suited to the demands of the twin transitions. It also calls for regenerating labour regulation to foster positive interactions and modernisation of work practices. The proposed normative changes should promote worker-oriented flexibility, universal labour protection and worker participation in technological and green initiatives, paving the way for more sustainable working arrangements. |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:ipt:laedte:202501 |
| By: | Andres F. Martinez; Will Paterson; Jonathan Greenacre |
| Keywords: | Finance and Financial Sector Development-E-Finance and E-Security |
| Date: | 2024–02 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:41058 |
| By: | Shofiroh, Nadziyah |
| Abstract: | The advent of digital technologies has ushered in an era of profound transformation in both education and business landscapes. This literature review explores the transformative impact of e-commerce ecosystems on education and digital business growth. E-commerce has democratized educational resources, enhancing accessibility and personalization. It has also enabled businesses to expand globally, streamline operations, and improve competitiveness. The review emphasizes the symbiotic relationship between education and digital business, highlighting the importance of a well-educated, digitally literate workforce. The findings underscore the need for institutions to embrace e-commerce elements in education and businesses to invest in employee digital literacy. Overall, this review provides crucial insights into the dynamic interplay of technology, education, and commerce in the digital age. |
| Date: | 2023–09–30 |
| URL: | https://d.repec.org/n?u=RePEc:osf:osfxxx:pxs8k_v1 |
| By: | World Bank |
| Keywords: | Infrastructure Economics and Finance-Infrastructure Economics Infrastructure Economics and Finance-Infrastructure Finance Information and Communication Technologies-Digital Divide Information and Communication Technologies-Rural Information & Communications Technologies |
| Date: | 2024–02 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:41035 |
| By: | Carin van der Cruijsen; Jakob de Haan |
| Abstract: | This paper proposes a payment literacy index, developed using a comprehensive consumer survey in the Netherlands to assess knowledge of both traditional and new payment methods, as well as fraud in the payment system. The index suggests that there is considerable room for improvement in payment literacy. Payment literacy is influenced by a number of personal characteristics, the information sources used, experiences with fraud, and the desire to be well informed about payments. Our findings suggest a positive relationship between payment literacy and trust in the payment system and banks, as well as the likelihood of individuals adopting new payment methods and making payments independently. |
| Keywords: | payment literacy; payments; financial inclusion; financial literacy; trust |
| JEL: | D12 D83 G50 J16 J33 |
| Date: | 2025–03 |
| URL: | https://d.repec.org/n?u=RePEc:dnb:dnbwpp:831 |
| By: | Heng Chen; Hongyu Xiao; Daneal O’Habib; Stephen Wild |
| Abstract: | This study evaluates Canadians' access to cash in 2023, updating previous metrics on travel distances to automated banking machines (ABMs) and financial institution (FI) branches with improved quality checks on ABM locations. Despite a small decrease in the number of ABMs and branches since 2019, overall access to cash has remained unchanged, with Canadians needing to travel an average distance of 2.0 kilometers from their home locations to reach the nearest ABM and 4.6 kilometers to reach the nearest FI branch. Rural Canadians continue to travel farther to access to cash, with an average travel distance of 3.9 km to the nearest ABM and 9.7 km to the nearest branch, highlighting the need for continued monitoring in rural areas. |
| Keywords: | Financial services; Regional economic developments; Bank notes |
| JEL: | O1 J15 R51 |
| Date: | 2025–03 |
| URL: | https://d.repec.org/n?u=RePEc:bca:bocsan:25-13 |
| By: | Erik Feyen; Daniela Klingebiel; Marco Ruiz |
| Keywords: | Finance and Financial Sector Development-Finance and Development |
| Date: | 2024–02 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:41121 |
| By: | Nashirudin, Rafi Abdul |
| Abstract: | The mobile technology on education and digital business models. It addresses the evolving landscape in both domains, driven by the proliferation of mobile devices. The methodology involves an extensive literature review encompassing academic research, industry reports, and case studies. The results highlight how mobile technology has democratized education, enabling universal access and personalized learning experiences, while simultaneously revolutionizing digital business models through enhanced connectivity, data-driven insights, and innovative marketing strategies. This transformative influence underscores the need to address challenges related to data security and privacy, ensuring that education and digital businesses continue to thrive in our mobile-driven world. |
| Date: | 2023–10–08 |
| URL: | https://d.repec.org/n?u=RePEc:osf:osfxxx:edjwx_v1 |
| By: | World Bank |
| Keywords: | Law and Development-Corruption & Anticorruption Law Finance and Financial Sector Development-Finance and Development Social Protections and Labor-Social Protections & Assistance |
| Date: | 2024–03 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:41250 |
| By: | Peter Albrecht (Mendel University in Brno, Faculty of Business and Economics); Evzen Kocenda (Institute of Economic Studies, Charles University, Prague) |
| Abstract: | Our study presents an in-depth analysis of the connectedness in returns among five major cryptocurrencies over a span from 2018 to 2023. Our work introduces novel insights via employing a recently developed bootstrap-after-bootstrap method of Greenwood-Nimmo et al. (2024) to establish a link between increases in connectedness and various systematic events. We find that major events-including both market and policy-driven shocks-trigger substantial increases in connectedness, with transmission effects persisting for up to one month. For the period under research, we identify Bitcoin and Ethereum as net return transmitters, mainly to Binance coin and Ripple. Moreover, we find that these transmissions increased by up to 20% for up to one month after the shocks occurred. Furthermore, we incorporate event-driven adjustments in portfolio optimization, quantifying optimal asset weight rebalancing in response to cryptocurrency market shocks. Our findings reveal that during the research period, Cardano and Ripple were the most effective choices in portfolio optimization. The implications of this study are significant for devising strategies in portfolio management and risk hedging, offering valuable guidance for policy formulation in the financial sector. |
| Keywords: | Return connectedness, cryptocurrencies, bootstrap-after-bootstrap procedure, portfolio composition and hedging |
| JEL: | H56 G11 G15 Q4 |
| Date: | 2025–03 |
| URL: | https://d.repec.org/n?u=RePEc:kyo:wpaper:1113 |
| By: | Yasmin Bin-Humam; Julia Constanze Braunmiller; Mahmoud Elsaman |
| Keywords: | Social Development-Social Inclusion & Institutions Finance and Financial Sector Development-Access to Finance Gender-Gender Monitoring and Evaluation Gender-Gender and Economic Policy |
| Date: | 2023–03 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:39659 |