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Wang, Li, Junfeng Tian, Yanhong Si, and Xixiu Sun. "Optimal duration, rate and price when online retailers offer installment payment services." Nankai Business Review International 12, no. 1 (January 22, 2021): 96–121. http://dx.doi.org/10.1108/nbri-08-2019-0039.
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Purpose Online retailers have become gradually popular to offer consumers installment payment services in the past few years. This paper aims to study how to determine the duration and rate of installment payment services, as well as the price of products to increase online retailers’ profits. Design/methodology/approach By modeling the utility functions, the behavior of consumers for strategic choosing the payment method and payment timing is analyzed. Thus, the market segments are obtained through the comparison of the consumer’s utilities. Combined with the given assumptions, the installment payment strategies for online retailers is investigated. This paper focuses on the impact of installment payment services on consumers’ purchasing behavior and online retailers’ profits by modeling and comparative analysis. No installment payment service as a benchmark, it is demonstrated whether online retailers can obtain more profits by offering installment payment services or what are the applicable conditions for installment payments. Findings If the installment payment service is offered, online retailers can gain more profits and need to adopt appropriate strategies based on different market conditions. During the depression or the peak shopping season, online retailers should take the strategy of free installment rate, and moderately increasing the product price of no installment service. When market demand is stable or during non-peak season, online retailers need to set a higher installment rate and maintain the product price without installment service. Finally, online retailers should determine the maximum duration of installments they can afford based on own risk control cost and allow consumers to freely choose the length of the installment within the duration limit. Originality/value First, the authors deeply analyze consumers’ payment and purchase behavior when the online retailer offers the installment payment service. Then, it is theoretically proved why many online retailers have offered installment payment services to consumers from a profit perspective. Finally, this paper proposes the optimal duration of installments, installment rate and product price in different market environments for online retailers, to provide theoretical basis and managerial insights for the development of installment payment service in online shopping.
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Phonthanukitithaworn, Chanchai, Carmine Sellitto, and Michelle W. L. Fong. "An investigation of mobile payment (m-payment) services in Thailand." Asia-Pacific Journal of Business Administration 8, no. 1 (April 4, 2016): 37–54. http://dx.doi.org/10.1108/apjba-10-2014-0119.
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Purpose – Despite the significant efforts by the Thai Government to promote the use of mobile payment (m-payment) services, this new mode of financial payment has had limited consumer interest. Indeed, whilst it is seemingly desirable to facilitate the uptake of m-payment services given government promotion, limited research has been undertaken to examine the factors that might promote adoption. The purpose of this paper is to address this research gap. Design/methodology/approach – The study developed a conceptual model based on elements of innovation diffusion theory and technology acceptance. The model was empirically validated using structural equation modelling analysis using the responses gained from 529 Thai mobile phone users. The intercept interview/survey across eight different locations was the instrument used for data collection. Findings – The empirical results indicate that consumer adoption of m-payment services in Thailand was determined by four factors – compatibility, subjective norm, perceived trust, and perceived risk. Surprisingly, the construct of perceived usefulness, perceived ease of use, and perceived cost were found not to have a direct effect on behavioural intention. Research limitations/implications – The results regarding electronic payments highlight the importance of four factors that are fundamental in understanding consumer behaviour in regards to financial m-payments. The conceptual model developed in the study is well suited as a primary research framework to explore other aspect of technological innovation in a Thai context. Even though the model is not generalisable, it has the potential to be refined for use in other countries. The findings from the research contribute to the small, but growing number of studies focusing on technological business innovation in Thailand. Practical implications – The results of this study will be of value to various groups associated with m-payment services such as mobile network operators, financial institutions, and payment service providers. The findings will potentially inform appropriate service strategies and business models in order to improve the uptake of this type of financial payment by Thai consumers. The factors identified are significant in informing how the capacity of the Thai Government’s investment in electronic infrastructure could be more fully utilised. Originality/value – This study adds to the literature by bridging the gap in explaining consumer intentions to adopt new technological services amongst people who know about the service but have not adopted it as yet. Moreover, this paper is a pioneer study about the adoption of m-payment services in Thai setting.
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Binda, Jacek. "Cryptocurrencies – problems of the high-risk instrument definition." Investment Management and Financial Innovations 17, no. 1 (March 27, 2020): 227–41. http://dx.doi.org/10.21511/imfi.17(1).2020.20.
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Money is a widely accepted commodity, which enables us to determine the economic value of purchased goods and services and make payments. The dynamic development of technology and social expectations has expanded the spectrum of available types of payment instruments, including e-money and cryptocurrencies. Among dematerialized means of payment, cryptocurrencies began to play an important role due to their independence from central financial institutions and a highly effective form of saving money. The paper aims to present legal authorization, referring to cryptocurrencies, in countries of the European Union and prove that bitcoin is a high-riskу financial instrument. The methodology of the study was based on the review of available legal acts and literature (regarding the nature and function of money) and Value at Risk (VaR) model on the example of risk assessment of cryptocurrencies with respect to investing in the selected currencies. The outcomes showed several discrepancies in the definition of cryptocurrencies. They indicated that bitcoin, as one of the best-known cryptocurrencies, does not fulfill the functions of money formulated in economic theory (in relation to e-money). Besides, cryptocurrencies have been shown to be high-risky instruments.
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Lundberg, Heléne, Peter Öhman, and Ulrika Sjödin. "Transaction convenience in the payment stage: the retailers’ perspective." Managing Service Quality 24, no. 5 (September 2, 2014): 434–54. http://dx.doi.org/10.1108/msq-02-2014-0032.
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Purpose – The purpose of this paper is to shed light upon how retailers view alternative payment forms and to what extent they are willing to risk offending their customers by imposing payment restrictions. Design/methodology/approach – This exploratory study consists of three consecutive parts: first, 100 situations of paying for goods or services; second, interviews with 25 of these 100 retailers; and third, observations at a meeting between retailers and bank representatives on various aspects of card and cash payments. Findings – Retailers are unwilling to risk offending their customers and do not normally undertake any actions to affect the customers’ choice of payment form, except for proactively or reactively excluding the use of certain expensive credit cards, and card payments for small amounts. The retailers only take the risk of causing customer dissatisfaction when they feel that the sacrifice for not doing so is too costly, and in these cases the salespersons act very late in the purchase process. Other aspects than payment costs (such as safety, time and environment) seem to have little impact on individual retailers’ actions at the payment stage. Research limitations/implications – The present study focuses solely on the retailers’ point of view on the payment stage, implying a need for additional research on customers’ and bank representatives’ views on the same matter. Practical implications – Retailers try to nurture their customer relationships also when they are proactive or reactive, i.e. by pointing to the high cost of a particular payment form and/or asking customers to help with small change. Sending signals that invite customers to assist may not only be a way to affect how customers pay, but also foster relationship development. Social implications – It seems that environmental costs have not filtered down to the firm level, at least not in an observable way. Any further move towards a “cashless society” has to emanate from other sources. Originality/value – No previous study has focused on the way selling companies approach their customers at the payment stage in terms of proactive, reactive and inactive behaviour.
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Gupta, Rajorshi Sen. "Risk Management and Intellectual Property Protection in Outsourcing." Global Business Review 19, no. 2 (November 8, 2017): 393–406. http://dx.doi.org/10.1177/0972150917713536.
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Firms organize business activities either in-house or outsource them to independent service providers. When making their organizational choice, firms face a trade-off between efficiency and loss of intellectual property (IP) when outsourcing. It is found that companies may gain from outsourcing even if there is possibility of IP misappropriation and moral hazard due to shirking. It is recommended that firms use a variable payment scheme linked to project outcome that would incentivize service providers to exert optimal effort in outsourcing projects. Moreover, when a task is outsourced in a weak IP regime, the optimal contract must implement a carrot and stick strategy comprising of limited IP sharing in conjunction with adequate incentive payments to the service provider.
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Sitek, Albert, and Zbigniew Kotulski. "A New Card-Linked Loyalty Program: Estimated and Anticipated Benefits for Payment Transaction Parties." Electronics 9, no. 11 (November 19, 2020): 1956. http://dx.doi.org/10.3390/electronics9111956.
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Electronic card payments are getting more and more popular, mainly because of their simplicity, convenience, processing time and high level of security. The fact that a single payment card is issued for a particular cardholder makes it possible to link a card to various services. In this paper, we investigated a usage of a payment card in the loyalty program that incorporates our Contextual Risk Management System (CRMS) to assure a novel intangible reward: Shorter transaction processing time. In the beginning, we emphasize the importance of soft benefits in modern loyalty programs and recall the risk management algorithms and the reputation system that has been used in the CRMS. Then, using an extensive dataset of 2.5 million payment transaction traces (collected within a year from 68 terminals) we estimate potential benefits for merchants and cardholders and try to predict an effect of this system for the future. We also discuss the impact of this system on the real and user-perceived security level.
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Alemu, Teshome, Tridib Bandyopadhyay, and Solomon Negash. "Electronic Payment Adoption in the Banking Sector of Low-Income Countries." International Journal of Information Systems in the Service Sector 7, no. 4 (October 2015): 27–47. http://dx.doi.org/10.4018/ijisss.2015100102.
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Banks in low-income countries are launching e-banking services such as Internet banking, SMS banking, ATM banking, card banking, point of sales (PoS) and mobile banking. Among these planned services, ATM is the most matured service in many private and state owned banks in Ethiopia. ATM is a recent phenomenon in low-income countries (; ), and is still being introduced in financial sectors in low-income countries (Angeli, 2008; ) making investigation of factors of ICT technology adoption in low income countries timely. The authors test context specific applicability of UTAUT (Unified Theory of Acceptance and Use of Technology) model. The authors' analysis of primary data suggests general applicability of the modified UTAUT model in explaining factors and antecedents of technology adoption but also identifies significant differences in the moderating factors of gender and age. Depending on whether they are above or below the age of 30, Ethiopian consumers of banking services exhibit highly differentiated levels of service credibility and technology risk acceptance towards ATM banking. This suggests that banking services sector in low income countries may like to clearly delineate and appropriately differentiate their awareness and reach-out strategies to their customers who belong to one or the other age group. Furthermore, women in this study are found to perceive themselves as more susceptible to fraud and other security risks in ATM banking, suggesting that special design considerations be incorporated in the way locations of ATMs are selected and in the way ATM technology features are accessed to ally such fears. The authors' work also shows research directions where other scholars may investigate an otherwise much diffused technology adoption in the low income countries of the world.
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Manchikanti, Laxmaiah. "Recommendations of the Medicare Payment Advisory Commission (MEDPAC) on the Health Care Delivery System: The Impact on Interventional Pain Management in 2014 and Beyond." Pain Physician 5;16, no. 5;9 (September 14, 2013): 419–40. http://dx.doi.org/10.36076/ppj.2013/16/419.
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Continuing rise in health care costs in the United States, the Affordable Care Act (ACA), and a multitude of other regulations impact providers in 2013. Despite federal spending slowing in the past 2 years, the Board of Medicare Trustees believes that cost savings are only achievable if health care providers are able to realize productivity improvements at a quicker pace than experienced historically. Consequently, the re-engineering of U.S. health care and bridging of the divide between health and health care have been proposed beyond affordable care. Thus, the Medicare Payment Advisory Commission (MedPAC) envisions alignment of Medicare payment systems to eliminate variable rates for the same ambulatory services provided to similar patients in different settings, such as the physician’s office, hospital outpatient departments (HOPDs), and ambulatory surgery centers (ASCs). MedPAC believes that if the same service can be safely provided in different settings, a prudent purchaser should not pay more for that service in one setting than in another. MedPAC is also concerned that payment variations across settings encourage arrangements among providers that result in care being provided in high paid settings. MedPAC recommends that payment rates be based on the resources needed to treat patients in the most efficient setting, adjusting for differences in patient severity, to the extent the severity differences affect costs. MedPAC has analyzed the costs of evaluation and management (E&M) services and the differences between providing them in a HOPD setting compared to a physician office setting, echocardiography services, and multiple services provided in ASCs and HOPDs. MedPAC has shown that for an established patient office visit (CPT 99213) provided in a free-standing physician’s office, the program pays the physician 70% less than in HOPD setting with a payment for physician practice of $72.50 versus $123.38 for HOPD setting. Similarly, for a Level II echocardiogram, HOPD costs 141% more for the same service than a free-standing office ($188.31 versus $452.89). For interventional techniques, Medicare payments vary from physician office to HOPD setting, with $211.96 in an office setting, $407.28 in ASC setting, and $655.62 in HOPD for procedures such as epidural injections. The MedPAC proposal for changing HOPD payment rates for services would reduce program spending and result in beneficiary cost sharing by $900 million in one year. On average, hospitals’ overall Medicare revenue will decline by 0.6% and HOPD revenue would fall by 2.7%. Further, MedPAC provided a specific example that aligning payment rates between HOPDs and freestanding offices only for cardiac imaging services would reduce program spending and beneficiary cost sharing by $500 million in one year. In estimating the savings that would be realized by equalizing payment rates between HOPDs and ASCs for certain ambulatory surgical procedures, MedPAC have shown potential Medicare program spending and beneficiary cost savings to be about $590 million per year. The impact of the proposed policies that are discussed in this manuscript would result in savings of approximately $1.5 billion per year for Medicare. MedPAC also has recommended a stop-loss policy that would limit the loss of Medicare revenue for those hospitals. Key words: Medicare, health care delivery system, Medicare Payment Advisory Commission (MedPAC), hospital outpatient departments (HOPDs), ambulatory surgery centers (ASCs), physician office practices
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Vengberg, Sofie, Mio Fredriksson, Bo Burström, Kristina Burström, and Ulrika Winblad. "Money matters – primary care providers' perceptions of payment incentives." Journal of Health Organization and Management 35, no. 4 (February 2, 2021): 458–74. http://dx.doi.org/10.1108/jhom-06-2020-0225.
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PurposePayments to healthcare providers create incentives that can influence provider behaviour. Research on unit-level incentives in primary care is, however, scarce. This paper examines how managers and salaried physicians at Swedish primary healthcare centres perceive that payment incentives directed towards the healthcare centre affect their work.Design/methodology/approachAn interview study was conducted with 24 respondents at 13 primary healthcare centres in two cities, located in regions with different payment systems. One had a mixed system comprised of fee-for-service and risk-adjusted capitation payments, and the other a mainly risk-adjusted capitation system.FindingsFindings suggested that both managers and salaried physicians were aware of and adapted to unit-level payment incentives, albeit the latter sometimes to a lesser extent. Respondents perceived fee-for-service payments to stimulate production of shorter visits, up-coding of visits and skimming of healthier patients. Results also suggested that differentiated rates for patient visits affected horizontal prioritisations between physician and nurse visits. Respondents perceived that risk-adjustments for diagnoses led to a focus on registering diagnosis codes, and to some extent, also up-coding of secondary diagnoses.Practical implicationsPolicymakers and responsible authorities need to design payment systems carefully, balancing different incentives and considering how and from where data used to calculate payments are retrieved, not relying too heavily on data supplied by providers.Originality/valueThis study contributes evidence on unit-level payment incentives in primary care, a scarcely researched topic, especially using qualitative methods.
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Mu, Hong-Lei, and Young-Chan Lee. "How Inclusive Digital Financial Services Impact User Behavior: A Case of Proximity Mobile Payment in Korea." Sustainability 13, no. 17 (August 25, 2021): 9567. http://dx.doi.org/10.3390/su13179567.
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Users’ payment behaviors have changed. The diffusion of mobile devices makes people suitable for proximity mobile payment (PMP) services without traditional payment. Existing mobile payment literature mainly focuses on the adoption and continuous usage behavior. Nevertheless, switching behavior on payment has received little attention, especially on why people switch from traditional payment to PMP. Thus, the purpose of this study is to investigate factors influencing users’ traditional payment–PMP switching to comprehend how these factors shape switching intention. To that end, we developed a traditional payment–PMP transition model based on the push–pull–mooring framework derived from migration theory. This study conducted a structural equation modeling analysis on 311 valid data. The findings indicated that a push factor drives users away from traditional payment in terms of dissatisfaction. The pull factors, including perceived substitutability and perceived usefulness, attract users to PMP. Furthermore, a positive mooring factor facilitates users’ switching intention to PMP in terms of perceived technical compatibility. The negative mooring factor, in terms of perceived risk, hinders users’ switching intention. However, another pull factor—perceived ease of use—failed to influence switching intention significantly. This study found some distinctions between mobile payment switching and mobile payment adoption. These findings provide pivotal insights for mobile payment service providers.
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Manan, Yulianti. "Sistem Integrasi Proteksi & Manajemen Resiko Platform Fintech peer to peer (P2P) Lending dan Payment Gateway untuk Meningkatkan Akslerasi Pertumbuhan UMKM 3.0." Ihtifaz: Journal of Islamic Economics, Finance, and Banking 2, no. 1 (June 24, 2019): 73. http://dx.doi.org/10.12928/ijiefb.v2i1.847.
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The MSMEs (Micro, Small and Medium Enterprises) mentioned by the government as the backbone of the Indonesian economy are also still many that have not been touched by financial services or are unbankable. Currently in line with the development of information technology in financial services, the Fintech P2P lending ecosystem and payment gateways are growing rapidly and become one of the cash less payment options, an alternative option for new types of financing due to multi-advantages; fast, collateral-free and technology-based process which is a culture of supporting MSME generation to 3.0. The Fintech P2P Lending and Payment gateway business that is oriented towards IT Base financial reporting still requires a risk management and governance system to reduce and minimize the risk of fraud, bankruptcy, default and other risks. The purpose of this research is to analyze and study innovative solutions to the Fintech business model platform related to protection system management by establishing a central and strategic role between the regulator and Fintech providers. This research uses descriptive research design by using GAP Analysis to research and develop and collaborate on innovation, especially in Fintech business operating systems.
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Finger-Stich, Andréa. "Le paiement des services des écosystèmes forestiers: inéluctable défi institutionnel? (Essai) | Payment of forest ecosystem services: an inescapable institutional challenge? (Essay)." Schweizerische Zeitschrift fur Forstwesen 160, no. 8 (August 1, 2009): 251–54. http://dx.doi.org/10.3188/szf.2009.0251.
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The difficulty involved in applying the notion of payment for services provided by ecosystems is above all institutional. It consists in the negotiation of a common form of management which mobilizes the recipients of the services provided by an ecosystem to pay for its good management. The potentials, limits and risks associated with these forms of payment are put into perspective to emphasize the challenge that they represent in terms of institutional innovation.
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Chen, Yenming J., Henry Tsai, and Yi-Fen Liu. "Supply chain finance risk management." Tourism Economics 24, no. 5 (March 8, 2018): 593–614. http://dx.doi.org/10.1177/1354816618762187.
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Based on mechanism design theory on asymmetric information, this study devises a selectable menu of contracts with price discounts and trade credit rates and proposes strategies for mitigating the risk of payment default when a tourism service provider trades with unfamiliar tour operators. Tourism service providers are suggested to remain conservative under a positive economic condition and progressive under a moderate economic condition when engaging in a new business opportunity. However, a fringe level of progressivism may be maintained under a moderate economy and a low-risk environment. The net benefit of tourism service providers increases when the bank rate is high, and the profit of the entire tourism channel increases when the percentage or ability to pay reliable agents is high.
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Shifa Fathima, J. "Challenge Management of Banking Services – with Special Reference to Virtual Banking Service Challenges." Shanlax International Journal of Management 7, no. 3 (January 1, 2020): 57–66. http://dx.doi.org/10.34293/management.v7i3.1620.
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The Indian Banking industry is seeing an exceptional challenge. To remain ahead, banks are thinking of plenty of services to draw customers. Services including 24-hours banking, Service at entryway step, Telephone banking, Internet banking, Extended Business Hours (EBH), Speedy handling are just a couple to mention. The larger piece of the present bank transactions happens elsewhere other than in-branch premises. This shows the growth of “virtual” banks in India. With accommodation, speed, productivity, and adequacy, these virtual banks, as a result, have opened up another universe of conceivable outcomes and brought major changes in giving a wide scope of services. Virtual banks are presently observed as a response to the challenge of planning another service channel that is completely secure, useful, and which customers can promptly figure out how to utilize and confide in it. (Aladwani, A, M.) Virtual banking, an amazing “esteem included” instrument, has become the point of convergence for banks to attract and hold customers. However, the point of these services is to satisfy customers; there is a need to comprehend customer mindfulness, observation, and significantly the degree of satisfaction. Virtual banking is a transporter that licenses customers to access and do economic transactions on their financial foundation obligations from their web empowered PC systems with net association with banks’ web locales whenever 24 Hours. Banks assume a vital job in advancing online businesses. Even though V-customers have the alternative of money down, which is by all accounts secure reliable, still there is an inclination for the V-payment plans, which must be given through banks. Banks go about as solid and dependable go-betweens in online transactions, and they give an intense opening in the online business. At present, banks have V-payment systems like Internet banking, electronic fund transfers (NEFT/RTGS), plastic money (credit card and debit card), and portable banking. These systems give payment to online transactions like the online acquisition of items, versatile revives, lodging booking, ticket booking, and so forth by considering a wide range of safety efforts. For the genuine working of these V-services, the need for able frameworks is an unavoidable element. Reserve Bank of India is observing and inspecting the legitimate and different requirements of V-Banking on persistent bases to guarantee that V-banking would create on sound lines, and V-Banking related challenges would not represent a risk to financial dependability. Hence, the present study is on the challenges of Virtual banking services in its challenge management strategies and the study based on secondary sources of data.
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Dzyuba, A. P., and I, A. Soloveva. "COST-DEPENDENT ELECTRIC CONSUMPTION AS A TOOL OF RISK MANAGEMENT OF NON-PAYMENT FOR ELECTRIC ENERGY OF INDUSTRIAL ENTERPRISES." Strategic decisions and risk management, no. 1 (May 2, 2019): 08–19. http://dx.doi.org/10.17747/2618-947x-2019-1-08-19.
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The growth of indebtedness of industrial enterprises operating in conditions of economic instability for consumed electricity and the sanctions imposed by the energy supplying organizations for late payments, determine the urgency of the problem of managing the risks of non-payment for energy from industrial enterprises. The article is devoted to the description of the method developed by the authors for managing the risks of non-payment of industrial enterprises for consumed electricity, based on the principles of price-dependent electricity consumption. Based on the study of the mechanism of formation of the cost of electricity purchased by industrial enterprises in the wholesale and retail electricity markets, special methods were proposed to control each component of the cost of electricity: electrical energy, electrical power, electricity transmission services. It justifies the need to develop options for operating modes of industrial equipment, such as nominal load mode, load limiting mode, technological minimum load, in order to effectively implement and use price-dependent power consumption in crisis conditions.Modeling scenarios of price-dependent demand management for power consumption is made on the example of a machine-building enterprise and the calculation and component-wise analysis of the economic effect of price-dependent management and the factors influencing its formation are carried out. The developed method allows you to effectively manage the risks of non-payment of industrial enterprises for electricity, as well as minimize the risks of restricting the supply of electricity to industrial facilities and disruptions in the operation of industrial equipment.
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Dzyuba, A. P., and I, A. Soloveva. "COST-DEPENDENT ELECTRIC CONSUMPTION AS A TOOL OF RISK MANAGEMENT OF NON-PAYMENT FOR ELECTRIC ENERGY OF INDUSTRIAL ENTERPRISES." Strategic decisions and risk management, no. 1 (May 2, 2019): 8–19. http://dx.doi.org/10.17747/2618-947x-2019-1-8-19.
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The growth of indebtedness of industrial enterprises operating in conditions of economic instability for consumed electricity and the sanctions imposed by the energy supplying organizations for late payments, determine the urgency of the problem of managing the risks of non-payment for energy from industrial enterprises. The article is devoted to the description of the method developed by the authors for managing the risks of non-payment of industrial enterprises for consumed electricity, based on the principles of price-dependent electricity consumption. Based on the study of the mechanism of formation of the cost of electricity purchased by industrial enterprises in the wholesale and retail electricity markets, special methods were proposed to control each component of the cost of electricity: electrical energy, electrical power, electricity transmission services. It justifies the need to develop options for operating modes of industrial equipment, such as nominal load mode, load limiting mode, technological minimum load, in order to effectively implement and use price-dependent power consumption in crisis conditions.Modeling scenarios of price-dependent demand management for power consumption is made on the example of a machine-building enterprise and the calculation and component-wise analysis of the economic effect of price-dependent management and the factors influencing its formation are carried out. The developed method allows you to effectively manage the risks of non-payment of industrial enterprises for electricity, as well as minimize the risks of restricting the supply of electricity to industrial facilities and disruptions in the operation of industrial equipment.
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Zhao, Jin Hui, Li Jie Yin, Li Li Xiong, and Xu Qian. "Architecture of Mobile Payment System with Tolerate Mechanism." Applied Mechanics and Materials 241-244 (December 2012): 2539–43. http://dx.doi.org/10.4028/www.scientific.net/amm.241-244.2539.
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A good architecture is the basis of system security and stable operation, which can effectively reduce the risk of system construction, and ensure health development. The mobile payment system involves many links; the process is complex and diverse with higher security requirements. Combined with advanced security technology --- tolerance mechanisms, a novel mobile payment system architecture is design. Voting unit and detection unit checks the states of system; management unit restores or reconstructs system to ensure the operation of key services by redundancy of services and equipments; Threshold (n, t) multiplies the difficulty of the attack proxy server to gain access to sensitive information. According to security and performance analysis, proposed architecture is safe and effective.
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Jafarian, Yazdan, and Farshid Abdi. "Structural Model of Tendency to Use Online Payment Gateway in Online Shopping and Customer Knowledge Management (Case Study: Pasargad Bank)." Modern Applied Science 10, no. 10 (May 18, 2016): 1. http://dx.doi.org/10.5539/mas.v10n10p1.
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Tendency to use online payment gateway in online is influenced by individual characteristics such as risk-taking, internet knowledge, online payment knowledge and risk of customer knowledge management tools used in payment gateway and in this study, these factors have been studied simultaneously in form of a model. In online payment, payment gateways are repeated contact point between service institutions such as banks and their customers that institutions can use this opportunity to attract new customers or increase royal customers. In addition to individual characteristics, customers are facing different tools of knowledge management such as shared databases, document repositories and work applications and these tools can have different effects on risk perception and their willingness to do online shopping using internet payment gateways. In this study, structural equation partial least squares statistical method was used. Also questionnaire was used to collect data in the given population, because customer’s members of the Pasargad bank were accustomed online shopping.In summary, risk-taking has negative and significant impact on the risk is perceived of knowledge management tools and internet knowledge was not known as a factor which have a significant negative impact on the perceived risk, but the impact of internet knowledge on preference to use online payment and online payment rather tendency to use internet payment gateway in online shopping was positive and significant. Also, the perceived risk of customer knowledge management tools has negative and significant correlation with tendency to buy using online payment in online shopping by users. On the other hand, the final conclusions of the research carried out in more detail and also practical suggestions for increasing the effectiveness of managers to use knowledge management tools in the payment gateway are presented.
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Boakye-Ansah, Akosua Sarpong, Klaas Schwartz, and Margreet Zwarteveen. "Unravelling pro-poor water services: what does it mean and why is it so popular?" Journal of Water, Sanitation and Hygiene for Development 9, no. 2 (March 15, 2019): 187–97. http://dx.doi.org/10.2166/washdev.2019.086.
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Abstract In dealing with the challenge of providing water services to urban low-income areas, the concept of ‘pro-poor water services’ is popular in the policy literature. Based on an extensive literature review, this article examines the relation between the implementation of pro-poor water services and the equity of access. Pro-poor water services comprise a set of technological, financial and organisational measures employed by utilities in developing countries to improve service provision to low-income areas. In practice, the combination of low-cost technologies which limit consumption, measures to enforce payment for services, and the use of community-based and private suppliers, means that pro-poor service often entails the utility delegating part of the responsibilities, costs and risks of providing services to those living in low-income areas. Indeed, it is by partially withdrawing from these areas that utilities succeed in reconciling the objective of improving service delivery with the realisation of their commercial objectives. Our analysis shows that in implementing pro-poor service delivery strategies, there is a risk that concerns about cost recovery and risk reduction on the part of the utility prevail over those about the quantity, quality and affordability of the service for the poor.
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Yang, Yongqing, Yong Liu, Hongxiu Li, and Benhai Yu. "Understanding perceived risks in mobile payment acceptance." Industrial Management & Data Systems 115, no. 2 (March 9, 2015): 253–69. http://dx.doi.org/10.1108/imds-08-2014-0243.
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Purpose – The purpose of this paper is to examine and quantify how various uncertainties result in different perceived risk dimensions that hinder mobile payment (m-payment) acceptance. Design/methodology/approach – An uncertainty-risk-value framework was proposed based on perceived risk theory, prospect theory, and perceived value theory. Structural equation modeling method was used to test the research model. Findings – Perceived information asymmetry, perceived technology uncertainty, perceived regulatory uncertainty, and perceived service intangibility are confirmed as the main determinants of perceived risk, while perceived performance risk, perceived financial risk, and perceived privacy risk were found to have strong negative effects on perceived value and acceptance intention. Practical implications – The findings may help businesses and policy makers better understand the sources of perceived risk and help support the development of appropriate strategies to mitigate the risk concerns consumers have regarding m-payment. Originality/value – Although the hindering effects of perceived risk regarding m-payment acceptance have been confirmed in previous studies, the sources of perceived risk were rarely investigated. By examining the determinants of perceived risk in m-payment acceptance, this paper offers insights into how consumers perceive risks when adopting new innovations. Additionally, it bridges the gap between the antecedents and consequences of perceived risk.
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Subagiyo, Dwi Tatak. "Characteristics of Financial Technology as Financing Alternative Capitalization of Medium Small-Medium Enterprises (MSME)." Fiat Justisia: Jurnal Ilmu Hukum 15, no. 2 (April 7, 2021): 133–58. http://dx.doi.org/10.25041/fiatjustisia.v15no2.1933.
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Characteristics of Financial Technology as a Financial Institution that uses information technology to provide financial solutions by prioritizing compliance with the principles of prudence and risk management. The characteristics of Financial Technology institutions are getting a loan quickly; Makes Payment Easier; Make Loan Payments without Additional Fees. Peer to Peer Lending (P2P lending) system in providing financial services is done through information technology based. The financial services institution Peer to Peer Lending (P2P Lending) is a financial technology financial institution (Fintech). Financial Technology (Fintech) as a Literacy Source for Financing Micro, Small and Medium Enterprises; Financial Technology (Fintech) As a Facilitator in MSME Development; Financial Tecnology (Fintech) as a driver for Micro, Small and Medium Enterprises to Increase National Financial Inclusion. The Role of the Financial Services Authority (OJK) and the Indonesian Joint Funding Fintech Association (AFPI) As Regulations and Oversight of Financial Technology Institutions (Fintech) in Indonesia.
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Michalski, G. "Operational risk in current assets investment decisions: Portfolio management approach in accounts receivable." Agricultural Economics (Zemědělská ekonomika) 54, No. 1 (January 29, 2008): 12–19. http://dx.doi.org/10.17221/254-agricecon.
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The basic financial purpose of an enterprise is maximization of its value. Trade credit management should also contribute to the realization of this fundamental aim. Many of the current asset management models that are found in the financial management literature assume book profit maximization as the basic financial purpose. These book profit-based models could be lacking in what relates to another aim (i.e., maximization of the enterprise value). The enterprise value maximization strategy is executed with a focus on risk and uncertainty. This article presents the consequences that can result from operating risk that is related to purchasers using payment postponement for goods and/or services. The present article offers a method that uses the portfolio management theory to determine the level of accounts receivable in a firm. An increase in the level of accounts receivables in a firm increases both net working capital and the costs of holding and managing accounts receivables. Both of these decrease the value of the firm, but a liberal policy in accounts receivable coupled with the portfolio management approach could increase the value. Efforts to assign ways to manage these risks were also undertaken; among them, a special attention was paid to adapting the assumptions from the portfolio theory as well as gauging the potential effect on the firm value.
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Li, Chih-Ying Cynthia, Amol Karmarkar, Lin-Na Chou, Soham Al Snih, Yong-Fang Kuo, and Kenneth Ottenbacher. "SEX DIFFERENCE IN EARLY FRAILTY TRANSITIONS, HEALTHCARE USE, AND MEDICARE PAYMENT IN OLDER MEXICAN AMERICANS." Innovation in Aging 3, Supplement_1 (November 2019): S495—S496. http://dx.doi.org/10.1093/geroni/igz038.1837.
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Abstract This study investigated sex difference in early frailty transitions on one-year follow-up healthcare utilization and Medicare payment. We used the linked Medicare claims data and the Hispanic Established Populations for the Epidemiological Study of the Elderly (Hispanic-EPESE) survey, using longitudinal analyses for 789 older Mexican Americans ≥70 years old in 1998/99. Participants were divided into five transition groups: 1) remain non-frail, 2) improve (pre-frail to non-frail, frail to non-frail, frail to pre-frail), 3) remained pre-frail, 4) remained frail, 5) worse (non-frail to pre-frail, non-frail to frail, pre-frail to frail) based on their frailty status between Wave 3 (1998/99) and Wave 4 (2000/01). Main outcomes were: (a) healthcare utilization (hospitalization, emergency room admission, physician visit) and (b) Medicare payment (total and outpatient payments) from 2000/01 to 12 months after. Mean age was 78.8 (SD=5.1) and 60.3% were female in 1998/99. We found sex had significant interaction effects on one-year follow-up hospitalization and Medicare outpatient payment. Compared to the remained no-frail group, males who remained pre-frail (Odds Ratio [OR]= 3.62, 95% CI=1.18-11.2), remained frail (OR= 7.59. 95% CI= 1.74-33.1) and worse (OR=4.54, CI=1.74-11.8) had higher risk for hospitalization. Males in the worse group also had significantly higher Medicare outpatient payment (OR=2.58, CI=1.46-4.56). Same associations were not observed in females. However, both genders used similar frequency and type of outpatient services, as the top services were evaluation and management services. Our results suggested research is needed to examine balance between sex differences, frailty improvements, resources needed and total care expenditure in this population.
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Stanley Diepiriye, Davies, and Lucky Anyike Lucky. "Corporate Characteristics and Influence on Share Based Payment of Financial Service Firms in Nigeria." Asian Finance & Banking Review 2, no. 1 (January 27, 2018): 18–29. http://dx.doi.org/10.46281/asfbr.v2i1.8.
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This investigates the effect of corporate characteristics on share base payment of financial service industry in Nigeria. Objective of the study is to if internal factors affects share base payments of corporate organizations in Nigeria. We analyzed five commercial banks and five insurance firms that are quoted on the floor of Nigerian Stock Exchange. Technique adopted for sampling adopted is convenience sampling. As the nature of data is panel therefore, pooled regression, fixed and random effect tests are run. Random effect results are focused after applying Hausman’s test. From the fixed effect model, tangibility, risk, management efficiency, debt equity ratio, corporate governance and cost of capital have negative but insignificant effects while return on investment, liquidity and firm size have positive and insignificant effect on share base payment. We conclude that corporate characteristics does not significantly influence share base payment of the selected financial service firms. We therefore recommend that the use of share base payment should be integrated with the corporate structure such as ownership structure, capital structure and others.
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Ho, Kevin K. W., Eric W. K. See-To, and Dickson K. W. Chiu. "“Price Tag” of Risk of Using E-Payment Service." Journal of Internet Commerce 19, no. 3 (March 20, 2020): 324–45. http://dx.doi.org/10.1080/15332861.2020.1742482.
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Lestari, Deka Anggun, Endah Dewi Purnamasari, and Budi Setiawan. "Pengaruh Payment Gateway terhadap Kinerja Keuangan UMKM." Jurnal Bisnis, Manajemen, dan Ekonomi 1, no. 1 (September 5, 2020): 1–10. http://dx.doi.org/10.47747/jbme.v1i1.20.
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Financial Technology (Fintech) is a combination of technology and financial services. There are several types of fintech, including Peer to Peer Lending, Risk and Investment Management, Market Aggregator, Payment, Clearing and Settlement, which changes an old innovation with digital technology. One widely used fintech is Payment Gateways such as OVO and Go-Pay, which encourage cashless society. One indicator that is implemented to measure Payment Gateway's financial performance is sales revenue. This study aims to examine the effect of Payment Gateway on the Financial Performance of Small Medium Enterprises (SMEs) in Palembang Indah Mall. Data were collected through questionnaires involving 53 respondents by using normality test, validity test, reliability test, coefficient of determination, and t-test. The result of the t-test and the coefficient of the determination indicates that the Payment Gateway variable significantly influences the financial performance of SMEs measured by sales revenue.
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Michalski, Grzegorz. "Portfolio management approach in trade credit decision making." Medjunarodni problemi 59, no. 4 (2007): 546–59. http://dx.doi.org/10.2298/medjp0704546m.
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The basic financial purpose of an enterprise is maximization of its value Trade credit management should also contribute to realization of this fundamental aim. Many of the current asset management models that are found in financial management literature assume book profit maximization as the basic financial purpose. These book profit-based models could be lacking in what relates to maximization of enterprise value. The enterprise value maximization strategy is executed with a focus on risk and uncertainty. This article presents the consequences that can result from operating risk that is related to purchasers using payment postponement for goods and/or services. The present article offers a method that uses portfolio management theory to determine the level of accounts receivable in a firm.
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Gupta, Kriti Priya, Rishi Manrai, and Utkarsh Goel. "Factors influencing adoption of payments banks by Indian customers: extending UTAUT with perceived credibility." Journal of Asia Business Studies 13, no. 2 (March 21, 2019): 173–95. http://dx.doi.org/10.1108/jabs-07-2017-0111.
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Purpose The purpose of this paper is to investigate the factors influencing the behavioral intention to adopt payments banks services by Indian underbanked and unbanked population. Design/methodology/approach The proposed model has assimilated factors from the Unified Theory of Acceptance and Use of Technology (UTAUT) along with perceived credibility. The factors of UTAUT include performance expectancy, effort expectancy, facilitation of conditions and social influence. Apart from testing the direct relationships of the model constructs with the behavioral intention to adopt payments banks services, the study has also explored mediating and moderating effects of certain constructs. The research model has been empirically tested using 660 responses from a field survey conducted in New Delhi – the capital city of India – by using the structured equation modeling (SEM) technique. The target respondents of the study are small businessmen and migrant laborers who are either underbanked or unbanked. Findings The findings of the study reveal that the model is able to explain 67.5 per cent of the variance in behavioral intention. The results indicate that all the factors are direct determinants of behavioral intention. Perceived credibility is found to be the strongest influencer of behavioral intention. The findings also indicate that perceived credibility partially mediates the relationships between “social influence and behavioral intention” and “performance expectancy and behavioral intention.” The relationship between performance expectancy and behavioral intention is also found to be moderated by facilitating conditions and effort expectancy. Research limitations/implications As this study is based on a convenience sample of respondents of only one city of India, this could negatively reflect on the generalizability of results across other cities. Moreover, the study has only focused on the perceptions of small businessmen and migrant laborers. This raises concerns regarding the applicability of the results for other segments of the current population that have different demographic characteristics (e.g. occupation, income, education level and technology experience). Modifying the conceptual model presented in this research to include “experience” and “age” as moderators can also be worth considering in future. Although this study has extended the UTAUT to include perceived credibility, the results of the explanatory power of the model indicate that there is still room for improvement. Therefore, including other constructs, e.g. hedonic motivation, perceived risks and trialability, could be a fruitful path forward. Future studies may also examine the factors influencing the actual use behavior of payments banks, rather than just behavioral intention. Practical implications The study looks forward to providing the payments banks service providers in India with suitable guidelines for effectively implementing and designing payments banks services. Specifically, the results of this study have provided clues for Indian payments banks service providers about the crucial role of perceived credibility in influencing the behavioral intention to adopt payments banks. Therefore, service providers have to initially be sure that payments banks are able to conduct financial transactions efficiently, securely and within less time, along with the availability of information required by customers to successfully use the services. Service providers should enhance customer confidence and trust by providing secure and reliable services. They should also emphasize on the positive safety measures of the payments banks during any marketing campaign rather than just creating brand awareness. Originality/value The study represents a substantial contribution to the existing knowledge regarding mobile payment channels in particular and technology acceptance area in general. In fact, this study presents a worthwhile direction by examining payments banks services, which, so far, have not been well evaluated in the Indian context. To the best of the authors’ knowledge, this is an early attempt toward a holistic and integrative approach to explain adoption of payments banks in India. Although prior studies have addressed mobile banking and mobile payment adoption, the strength of this research lies in combining the UTAUT constructs with perceived credibility. This is evidenced by the high explanatory power (67.5 per cent) of the research model adopted in this study.
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Bezdelov, A., and E. Loginova. "Innovative Forms of Management and Cybersecurity of Cashless Payments in the Context of Digitalization of the Banking Ecosystem." Scientific Research and Development. Economics of the Firm 9, no. 3 (October 7, 2020): 25–31. http://dx.doi.org/10.12737/2306-627x-2020-25-31.
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Changing behavioral skills of consumer financial services and the growing competitive pressure of startups are destroying traditional business models and prompting the creation of new strategies. For this reason, banks and other regulated financial intermediaries strive to quickly master developments in the field of financial technologies and change the formats of customer service, taking into account the capabilities of their budgets. The existing methods of making cross-border transfers and non-cash payments using their traditional forms, as well as new-generation digital financial instruments, are not supported by a high-quality regulatory framework. In this regard, it is important to study the stages of transformation of forms of interaction between participants of non-cash payments under the influence of the scientific and technical process, a comparative analysis of modern methods of international payments, and justification of mechanisms for integrating digital financial instruments based on distributed Ledger technology into cross-border settlement and payment operations. We also analyzed internal Bank programs for organizing internal control and managing Bank risks, using the example of Sberbank. The results of the study of these problems are reflected in this article.
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Abdulahi, Efrah Wozir, and Luo Fan. "Exploring and Validating Container Operational Risk Scale in Container Shipping: The Case of Ethiopian Shipping and Logistics Service Enterprise." Sustainability 13, no. 16 (August 18, 2021): 9248. http://dx.doi.org/10.3390/su13169248.
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The risk associated with container shipping has been a major concern in recent decades. This study presents three major risk frameworks to systematically and inclusively explore and validate container operational risk scales based on risk factors derived from the extant literature. The three risk frameworks identified are risks related to information flow, risks related to physical flow, and risks related to payment flow. Each risk factor is grouped into sub-factors (dimensions), three factors for information flow, two factors for physical flow, and two factors for payment flow. The study uses Ethiopia as a case study and employed both qualitative and quantitative research methods. An interview survey was conducted to explore additional risk factors and validate the identified risk factors in container shipping, and a questionnaire survey was then accompanied to collect the relevant data. A pairwise comparison chart (PCC) was employed to rank the risk dimensions. The results showed that the container operational risk model is satisfactory by employing exploratory and confirmatory factor analysis. Furthermore, the PCC result indicates that risk of loss or damage of goods/assets, payment delay, and decrease in or total loss of payment were ranked first, second, and third, respectively, and consequently the most significant dimensions of the risk factors. This study provides a reliable and valid scale for measuring container operational risk in container shipping companies. It also unlocks future works for using the identified risk factors as guidelines for researchers and experts to design and develop container operational risk dimensions.
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Ezrokh, Yuriy. "Implementation of retail payments by QR-code in Russia as a driver for the development of national payment system (economic aspects)." Moscow University Economics Bulletin, no. 1 (February 28, 2021): 168–88. http://dx.doi.org/10.38050/01300105202118.
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Problem statement. Drawing on macroeconomic analysis (2011-2019), the author formulates the key problems in the functioning of retail segment of the national payment system: a) differentiation of regions according to the degree of payment infrastructure development; b) disproportion in the availability of trace elements of the payment infrastructure; c) high cost of acquiring services. The underlying scientific hypothesis is the possibility to overcome the above-mentioned problems by introducing retail payments using QR codes. The study examines economic relations arising in calculations using QR codes in Russia’s retail payment system. The methodological base of the study includes theoretical assumptions of banking management, as well as a problem-oriented approach. The study identifies a range of economic problems in the implementation of QR settlements in Russia which include: the need to upgrade mobile banking; banks’ lack of interest in promoting QR code settlements due to fears of lower transaction returns; a decrease in citizens’ interest in cashless payments caused by a contraction in bank loyalty programs; the inertia of entrepreneurs unwilling to switch from cash-based interaction with customers; the inertia of some customers and their lack of financial literacy; cyber threats; risks of unfair behavior of buyers. The author offers and justifies the ways to overcome them. The findings may help improve state regulation in Russia’s financial and banking sector.
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González-Díaz, Patricia, Paloma Ruiz-Benito, Jorge Gosalbez Ruiz, Gregorio Chamorro, and Miguel A. Zavala. "A Multifactorial Approach to Value Supporting Ecosystem Services in Spanish Forests and Its Implications in a Warming World." Sustainability 11, no. 2 (January 11, 2019): 358. http://dx.doi.org/10.3390/su11020358.
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Carbon storage and sequestration are key ecosystem services critical to human well-being and biodiversity conservation. In a warming context, the quantification and valuation of carbon storage and sequestration is important in ensuring that effective incentives are put in place to tackle climate change. The quantification and valuation of ES such as carbon storage and sequestration requires the calculus of actual values and prediction, however, it usually does not include key processes that can indirectly influence carbon dynamics (i.e., risk, conservation or management). Here, we define a multifactorial approach to value ecosystem services based on two stages: (1) a biophysical approximation that integrates yearly supporting ecosystem services (i.e., quantification of carbon storage and sequestration) and (2) a weighing approach including factors that indirectly influence carbon storage and sequestration or that deserve specific attention (i.e., risk, conservation or management factors). The quantification of carbon storage and sequestration indicated that Spanish forests store on average 43 Mg C ha−1 and sequestrate on average 1.02 Mg C ha−1 year−1. Forest structure was a strong determinant of carbon storage and sequestration in Iberian forests, hence there was a strong spatial variation in the carbon sink. We adapted the weighting values to a financial cap and the monetary value of carbon increased more than four times when the weighting factors were taken into account. Finally, we argue that a multifactorial approach to value supporting ecosystem services incorporating aspects related to conservation and risk prevention can facilitate ecosystem service valuation and assist policy makers and stakeholders to establish payment service policies.
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Fleischman, Tomaž, and Paolo Dini. "Mathematical Foundations for Balancing the Payment System in the Trade Credit Market." Journal of Risk and Financial Management 14, no. 9 (September 21, 2021): 452. http://dx.doi.org/10.3390/jrfm14090452.
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The increasingly complex economic and financial environment in which we live makes the management of liquidity in payment systems and the economy in general a persistent challenge. New technologies make it possible to address this challenge through alternative solutions that complement and strengthen existing payment systems. For example, interbank balancing and clearing methods (such as real-time gross settlement) can also be applied to private payments, complementary currencies, and trade credit clearing to provide better liquidity and risk management. The paper defines the concept of a balanced payment system mathematically and demonstrates the effects of balancing on a few small examples. It then derives the construction of a balanced payment subsystem that can be settled in full and therefore that can be removed in toto to achieve debt reduction and payment gridlock resolution. Using well-known results from graph theory, the main output of the paper is the proof—for the general formulation of a payment system with an arbitrary number of liquidity sources—that the amount of liquidity saved is maximum, along with a detailed discussion of the practical steps that a lending institution can take to provide different levels of service subject to the constraints of available liquidity and its own cap on total overdraft exposure. From an applied mathematics point of view, the original contribution of the paper is two-fold: (1) the introduction of a liquidity node with a store of value function in obligation-clearing; and (2) the demonstration that the case with one or more liquidity sources can be solved with the same mathematical machinery that is used for obligation-clearing without liquidity. The clearing and balancing methods presented are based on the experience of a specific application (Tetris Core Technologies), whose wider adoption in the trade credit market could contribute to the financial stability of the whole economy and a better management of liquidity and risk overall.
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Ameyaw, Ernest Effah, and Albert P. C. Chan. "Risk ranking and analysis in PPP water supply infrastructure projects." Facilities 33, no. 7/8 (May 5, 2015): 428–53. http://dx.doi.org/10.1108/f-12-2013-0091.
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Purpose – This paper aims to identify and evaluate the most significant risk factors that strongly affect the implementation of public–private partnership (PPP) water supply projects. PPP for water supply infrastructure services has seen continued growth over the past two decades, following public sector’s budgetary constraints and inability to provide infrastructure-based water services efficiently and cost effectively. However, these projects are often subjected to major risks leading to failures. Design/methodology/approach – Following extensive literature review and case study analyses, an international questionnaire survey was conducted with practicing and experienced PPP experts to establish the significant risks in PPP water projects. Both the probability of occurrence and severity of 40 risks were evaluated by the expert panel to determine their significance and impact on water projects procured under the PPP arrangement. Findings – The paper presents a derived risk factor list, ranks the factors and describes the “top-ranked” risk factors as: poor contract design, water pricing and tariff review uncertainty, political interference, public resistance to PPP, construction time and cost overrun, non-payment of bills, lack of PPP experience, financing risk, faulty demand forecasting, high operational costs and conflict between partners. Originality/value – This factor list broadens PPP stakeholders’ view of important project risks, rather than relying on culture-dependent studies – an area that has received less attention in PPP risk management research. The identified risk factors would provide governments and investors a useful tool in implementing constructive water PPPs by facilitating the development of risk mitigation strategies, particularly for developing countries with poor risk management practices.
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Page, Ray D., Lee N. Newcomer, John D. Sprandio, and Barbara L. McAneny. "The Patient-Centered Medical Home in Oncology: From Concept to Reality." American Society of Clinical Oncology Educational Book, no. 35 (May 2015): e82-e89. http://dx.doi.org/10.14694/edbook_am.2015.35.e82.
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In recent years, the cost of providing quality cancer care has been subject to an epic escalation causing concerns on the verge of a health care crisis. Innovative patient-management models in oncology based on patient-centered medical home (PCMH) principles, coupled with alternative payments to traditional fee for service (FFS), such as bundled and episodes payment are now showing evidence of effectiveness. These efforts have the potential to bend the cost curve while also improving quality of care and patient satisfaction. However, going forward with FFS alternatives, there are several performance-based payment options with an array of financial risks and rewards. Most novel payment options convey a greater financial risk and accountability on the provider. Therefore, the oncology medical home (OMH) can be a way to mitigate some financial risks by sharing savings with the payer through better global care of the patient, proactively preventing complications, emergency department (ED) visits, and hospitalizations. However, much of the medical home infrastructure that is required to reduced total costs of cancer care comes as an added expense to the provider. As best-of-practice quality standards are being elucidated and refined, we are now at a juncture where payers, providers, policymakers, and other stakeholders should work in concert to expand and implement the OMH framework into the variety of oncology practice environments to better equip them to assimilate into the new payment reform configurations of the future.
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Duong, Ngoc T. B., and Wouter T. de Groot. "Distributional risk in PES: Exploring the concept in the Payment for Environmental Forest Services program, Vietnam." Forest Policy and Economics 92 (July 2018): 22–32. http://dx.doi.org/10.1016/j.forpol.2018.03.008.
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Butuzov, S. Yu, A. V. Kryuchkov, and E. B. Tyutikova. "Safety management of tourist services based on insurance risk assessment." Technology of technosphere safety 90 (2020): 102–15. http://dx.doi.org/10.25257/tts.2020.4.90.102-115.
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Introduction. Employees of Emercom of Russia often participate in extreme tourism during their vacations, which helps to maintain their professional physical fitness. They are also attracted to help tourist groups that find themselves in a difficult situation in nature in a particular destination. Participation in extreme tourism is associated with the risk of injury. A general approach to the assessment of the impact of the management of the safety of tourist services in the instances associated with extreme tourism on insurance risks is presented. The purpose of the article is to create models for assessing the risks of extreme recreation. To do this, it is necessary to analyze the routes of extreme recreation in destinations from a mathematical point of view, and, based on this, to propose a number of management measures related, among other things, to insurance. Research methods are based on the use of the theory of discrete mathematics in the construction of a weighted graph describing the risks on the routes of tourists. The model allows us to quantify the risks on individual routes and, therefore, to build a target criterion for supporting the management of the safety of services in extreme tourism in a particular destination. Results and discussion. Building a graph of the route of a tourist group allows you to identify the least dangerous routes of tourist groups. This approach allows insurance companies to solve the problem of calculating the optimal and adequate amount of payments in the event of an insured event, as well as to reduce uncertainty in the actions of rescue units of Emercom of Russia. Conclusions. The methods of managing the safety of providing tourist services presented in the article reduce the probability of an insured event. Key words: insurance risk assessment, management of tourist services, tourist safety, security methods.
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Nemec, Juraj, Beáta Mikušová Meričková, and Zuzana Vozárová. "Management of Contracting Public Services and its Quality in Slovakia." NISPAcee Journal of Public Administration and Policy 5, no. 1 (July 1, 2012): 55–74. http://dx.doi.org/10.2478/v10110-012-0003-2.
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Abstract Contracting services in the public sector with private for-profit and non-profit firms is one of the most prevalent types of alternative service-delivering arrangements. Concerning the positive potential of contracting, the relevant literature proposes that contracting may, but need not, improve individual choice, cost-effectiveness and the quality of delivery, equity and to some extent also expenditure control. On the other hand, many authors provide important arguments describing weak points of contracting and some risks connected with contracting services in the public sector. The main “internal” reason why contracting does not produce the expected results and even creates perverse effects in the effectiveness and quality of contracted services, is the improper implementation of contract management. This paper seeks to answer the question of what factors account for success in contracting for services in the public sector by testing the relationship between contracting performance and selected factors connected with contract management such as competition, exante evaluation of bidders, contract monitoring, contract duration, contract payment and joint problem solving and communication between the principal and the agent. This study uses a quantitative approach to investigate the research question and to analyze the original collected survey data from our own research.The research was supported by the Czech Grant Agency projects P403 / 12 / 0366 and P403 / 10 / 1892
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Benzing, Johannes, and Christoph J. Börner. "The link between CEO incentive structures, managerial power, and firm risk in the financial services industry: A comprehensive analysis of US banking and insurance firms." Corporate Ownership and Control 12, no. 3 (2015): 371–87. http://dx.doi.org/10.22495/cocv12i3c3p8.
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This paper aims to comprehensive insights regarding the link between CEO characteristics and investors´ risk in the financial services industry. The paper examines the relation among CEO incentive structures, CEO duality, and several measures of stockholders´ risk for samples of US banks and insurance firms. Our results provide empirical evidence that certain CEO characteristics are significantly related to equity investors´ risk: A CEO’s pay sensitivity to annual base salary and yearly bonus payment is negatively related to firm risk. The value of a CEO’s unvested options und unvested stock is also negatively related to firm risk. CEO duality appears to be negatively related to firm risk for banks but positively related to risk for insurance firms. Our findings have implications for shareholders who are provided by an empirical framework that takes into account CEO characteristics as non-traded human resource risk factor
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Selviaridis, Kostas, and Andreas Norrman. "Performance-based contracting for advanced logistics services." International Journal of Physical Distribution & Logistics Management 45, no. 6 (July 6, 2015): 592–617. http://dx.doi.org/10.1108/ijpdlm-11-2014-0267.
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Purpose – The purpose of this paper is to explore key challenges of adopting, designing and managing performance-based contracts (PBC) for advanced logistics services, as seen by providers. The shift toward performance-based solutions has proved challenging since providers often struggle to link performance to their payment. Despite such managerial challenges, empirical research in this area has been limited. Design/methodology/approach – A multi-case design was adopted. Three cases of logistics service providers were selected based on purposive sampling. Data were collected through 38 semi-structured interviews and review of 43 documents such as contracts and customer target letters. Findings – Key PBC adoption challenges include customer and provider intention to align their goals and incentives as well as their views on risk and reward sharing. Contract design challenges center around performance metric definition and weighting, designing performance monitoring systems that consider service co-production effects and help improve customer relationship and designing incentives with appropriate intensity levels. Contract management challenges include fostering provider pro-activity, provider changes in terms of processes and resource investments, perceived fairness of designed incentives and contract re-design to allow for win-win relationship outcomes. Research limitations/implications – The study empirically contributes to extant logistics service provider literature by identifying specific challenges that extend also beyond PBC adoption and design and cover contract management (and potential contract re-design). It also unpacks the notion of performance attributability by analyzing its role also in terms of contract and performance management as well as its potential effects on customer relationship management. Practical implications – The study presents implications for logistics provider managers regarding how the observed PBC challenges can be overcome. Originality/value – The study unearths several challenges of PBC for advanced logistics services, particularly in connection to contract management and re-design.
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Коробейникова, Екатерина, and Ekaterina Korobeinikova. "THE ANALYSIS OF CLIENTS IN THE CONTROL SYSTEM OF RECEIVABLES." Bulletin of Kemerovo State University. Series: Political, Sociological and Economic sciences 2017, no. 3 (September 25, 2017): 49–54. http://dx.doi.org/10.21603/2500-3372-2017-3-49-54.
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<p><span>The article presents a system of accounts of receivable management, including the methodology for its analysis in terms of customer base. The study was conducted with the purpose of optimization of client work within the accounts receivable management, improving the speed and quality of managerial decisions. Deferred payment in the sale of products (works, services) is considered as the basis of trustful and lasting relationships with clients, as it determines the attractiveness of the transaction, contributes to the preservation and expansion of client base. In the management of accounts legal, organizational and economic aspects can be distinguished. System analysis of receivables includes such areas as the analysis of the dynamics and structure of receivables, speed and time of its circulation, the analysis in the context of the debtors ‘ businesses and the analysis of the customer base, performance assessment of the sales divisions, the level of risk of non-payment, delinquency of payment. The developed method of structural-group analysis of customers-debtors, built on a modification of the RFM analysis. The method of analysis of the clients-debtors allows them to rank in status, according to which transaction terms have to be adjusted.</span></p>
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Aguayo, Francisco Zabala, and Beata Ślusarczyk. "Risks of Banking Services’ Digitalization: The Practice of Diversification and Sustainable Development Goals." Sustainability 12, no. 10 (May 14, 2020): 4040. http://dx.doi.org/10.3390/su12104040.
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The study aims to investigate threats that might occur in diversification management, operational risks of banking services in the process of digitalization, as well as the impact on customers and banks. The right choice of a risk management model for a bank plays an important role in the sustainable development of competitiveness and the transformation of banking activities in the future. This work assesses bank risks and determines information risks in relation to the total capital of Santander Bank of Spain. The authors adapted an operational risk management (ORM) model to minimize the risks of the bank’s digitalization and upcoming operational risks. The ratio of the total operational risk to the total bank’s capital was 0.65%, which is below the permissible minimum value and is acceptable. Based on this indicator, diversification of business risks can be applied. As a result of the study, the total value of operational risks was calculated and the acceptability of this indicator to the capital of Santander Bank was assessed, which allowed the authors to assess whether the value was critical. In addition, it was also revealed that the main external risk of Santander Bank in 2018 was fraud in the use of online payments. The results might help to more effectively evaluate insurance payments for identified operational risks and effectively make decisions and optimize reporting documents of banks.
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Kraus, Kateryna, Nataliia Kraus, and Oleksandr Marchenko. "Management of BAIS: Technological Trends and Digital Initiatives 4.0." VUZF Review 6, no. 2 (June 29, 2021): 88–99. http://dx.doi.org/10.38188/2534-9228.21.2.11.
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Successful operation of modern banking institutions significantly depends on the use of the latest information and communication technologies in process management, from motivation and communication with staff, to remote control of banking operations. Purpose of scientific research is a study of the principles and features of banking automated information system in terms of implementation of the latest information and cloud technologies by banking institutions. The object of scientific research is banking automated information system of banking institutions. The result of the article: research proved that the creation and selection of banking automated information system of banking institution is based on the planning of all systems related to the functioning of the complete infrastructure of the bank, built on information technology; the causes and consequences of various risk situations by channels of their occurrence (information Web-site, e-mail, network systems, system failures, electronic payment systems and data transmission systems, electronic channel) in the banking sector as a result of using a bank automated information system are substantiated; key areas of banking automated information system and the elements of the system of risk situations that arise in the banking sector as a result of the use of banking automated information system are described; main requirements for information support of banking institution and the main criteria for choosing banking automated information system of a banking institution are identified. Practical implications: priority ways of overcoming the risks of introduction of banking automated information system are offered, taking into account the scope and spread of risks. At the same time, the methods of providing cloud services used by banking institutions were evaluated. Value/originality: the introduction of a banking automated information system of a banking institution today is impossible without the use of cloud technologies (infrastructure as a service – IaaS, software as a service – SaaS, platform as a service – PaaS), each of which has a number of strengths and weaknesses.
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Vannucci, Emanuele, Andrea Jonathan Pagano, and Francesco Romagnoli. "Climate change management: a resilience strategy for flood risk using Blockchain tools." Decisions in Economics and Finance 44, no. 1 (March 1, 2021): 177–90. http://dx.doi.org/10.1007/s10203-020-00315-6.
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AbstractThis work aims to offer a contribution in the analysis and management, from an economic and financial point of view, of the flood risk, and extended to the hydrogeological risk, from the perspective of a public administration. As main responsible actor for containing the phenomenon through the maintenance of the territory, public administration is responsible for the cost of restoring of the services that have been damaged by this type of phenomenon. The assets of which the public administration must ensure the restoration are all public infrastructures (i.e. transportation, energy and water supply system, communication) together with the damage suffered by private property, if these affect services to be guaranteed to the population. In this work, the authors propose possible strategies that a public administration can put in place to deal with flood risk. Three main strategies are analysed: an absolute passivity that provides for the payment of damages as they occur (i.e. business-as-usual scenario), a classic insurance scheme, a resilient and innovative insurance scheme. The economic–financial profiles of these strategies proposed in this work put an emphasis on how the assumption of a time horizon can change the convenience of one strategy compared to the others. This study highlights the key role of the quantification of flood risk mitigation measure from an engineering perspective, and their potential issues to pursue these objectives in connection to the regulatory framework of the public administrations. This synergy is supported by the potential use of Blockchain-based tools. Within the paper is highlighted the key role that such platform IT data management platform could have within risk analysis and management schemes, both as a data collection tool and as certification of the various steps necessary to complete the process.
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Tang, Yuk Ming, Ka Yin Chau, Luchen Hong, Yun Kit Ip, and Wan Yan. "Financial Innovation in Digital Payment with WeChat towards Electronic Business Success." Journal of Theoretical and Applied Electronic Commerce Research 16, no. 5 (June 8, 2021): 1844–61. http://dx.doi.org/10.3390/jtaer16050103.
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Financial innovation and advances in payment systems are important not only to boost remittances but also to foster the successful development of electronic businesses around the world. As such, many leading companies in electronic commerce are putting a great deal of effort into the development of their payment system to attract more users and compete with other leading companies in the market. WeChat is a social communication tool that introduced a payment function widely adopted as a third-party payment in China nowadays. The purpose of this study was to adopt WeChat as a case study to identify the influential factors that impact consumers’ intention to adopt it as digital payment. We identified several core influential factors including service quality, perceived risk, perceived security, perceived ease of use, social influence, compatibility, and age. Qualitative and quantitative analyses were performed to investigate how influential factors affect the adoption of this third-party digital payment platform. The results revealed that all identified factors have a significant influence on consumer’s intention to use digital payment, except age. This study also provided useful advice for digital payment improvement and recommendations to enhance digital payment for the success of electronic business operations. The paper provides new insight into the factors influencing consumers’ intention to use mobile digital payment.
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Goodell, Geoffrey, Hazem Danny Al-Nakib, and Paolo Tasca. "A Digital Currency Architecture for Privacy and Owner-Custodianship." Future Internet 13, no. 5 (May 14, 2021): 130. http://dx.doi.org/10.3390/fi13050130.
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In recent years, electronic retail payment mechanisms, especially e-commerce and card payments at the point of sale, have increasingly replaced cash in many developed countries. As a result, societies are losing a critical public retail payment option, and retail consumers are losing important rights associated with using cash. To address this concern, we propose an approach to digital currency that would allow people without banking relationships to transact electronically and privately, including both e-commerce purchases and point-of-sale purchases that are required to be cashless. Our proposal introduces a government-backed, privately-operated digital currency infrastructure to ensure that every transaction is registered by a bank or money services business, and it relies upon non-custodial wallets backed by privacy-enhancing technology, such as blind signatures or zero-knowledge proofs, to ensure that transaction counterparties are not revealed. Our approach to digital currency can also facilitate more efficient and transparent clearing, settlement, and management of systemic risk. We argue that our system can restore and preserve the salient features of cash, including privacy, owner-custodianship, fungibility, and accessibility, while also preserving fractional reserve banking and the existing two-tiered banking system. We also show that it is possible to introduce regulation of digital currency transactions involving non-custodial wallets that unconditionally protect the privacy of end-users.
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Lisniak, Vladyslava. "APPLICATION OF STRATEGIC ANALYSIS IN SELECTION AND EVALUATION OF FUNCTIONING OF ELECTRONIC PAYMENT SYSTEMS ON ENTERPRISES." Economic Analysis, no. 28(1) (2018): 243–48. http://dx.doi.org/10.35774/econa2018.01.243.
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Introduction. The management of an enterprise depends on a well-established and effective system of planning and forecasting changes in the external and internal environment of the enterprise. A properly organized management structure provides the opportunity to ensure a sustainable development of the enterprise by anticipating the problems with which it may encounter in the future and develop a strategy for its development in the planned period. Purpose. The article aims to evaluate the possibility of choosing electronic payment systems in the conditions of functioning under uncertainty, and to analyse the advantages of a strategic decision. Method (methodology). In order to reach the purpose of the research we have used the method of strategic analysis, research method, and method of optimization. Results. The methodological, theoretical and practical aspects of the development of the sphere of services have been investigated. The analysis of the peculiarities of management and strategic planning of the enterprise activity has been carried out. The potential of Ukraine in the export of services has been identified and analysed. Risks of enterprise activity have been substantiated. The influence of factors on the sphere of services in Ukraine has been investigated.
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Stepanenko, Serhiy, and Kateryna Ampilohova. "Modern methods of risk management in banks’ lending to individuals." Socio-Economic Problems of the Modern Period of Ukraine, no. 4(144) (2020): 33–41. http://dx.doi.org/10.36818/2071-4653-2020-4-5.
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The article is devoted to the substantiation of risk management methods of banks’ lending to individuals. Existing approaches to understanding the nature of consumer loan are considered. The classification of loans to individuals is provided. The paper proves that consumer lending should be considered in the context of the entities, object, currency, and principles. Consumer lending by its nature as a financial phenomenon refers to the provision of funds by the lender to individuals to obtain goods, works, or services, the acquisition of which meets the specific needs of consumers by redistributing cash flows in the present and future on the principles of maturity and payment. Consumer lending is a subtype of lending to individuals along with mortgage lending. The process of formation of consumer lending in Ukraine is considered: the main periods are identified and the key events and patterns that determine the current state of affairs in the consumer lending by banks are identified. The dynamics of lending to individuals is presented along with the total amount of loans granted. The nature of lending risk and its components are given. The loans are classified into 5 groups depending on the level of credit risk. The volumes of loan debt and loan risk are calculated for all groups: the largest volumes of loans issued to individuals account for the 1st and 5th groups. The amounts of loan debts and loan risk are calculated for all groups: the bulk of the debt is concentrated in the first group - that is, these are the most reliable loans, and the amount of loan risk is the largest in the fifth group. The analysis of the structure of foreign currency loans suggests that the 1st group is formed by new loans in the domestic currency issued to entities with a strong financial condition, and the 5th - old loans, most of which are issued in foreign currency, where debtors are characterized as unreliable with critical financial condition. The lending, operational, and country risks are the main risks of lending to individuals. The classification of risk management in lending to individuals is proposed. Methods of minimizing operational risk in the course of lending to individuals are considered.
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Chakuu, Sumeer, Donato Masi, and Janet Godsell. "Towards a framework on the factors conditioning the role of logistics service providers in the provision of inventory financing." International Journal of Operations & Production Management 40, no. 7/8 (July 6, 2020): 1225–41. http://dx.doi.org/10.1108/ijopm-06-2019-0502.
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PurposeThis paper explores the conditions in which logistics service providers (LSPs) can compete or collaborate with banks in offering inventory financing as a supply chain finance (SCF) service.Design/methodology/approachA multiple case study research methodology was adopted. The case study involved six LSPs across Europe. Data were collected through semi-structured interviews.FindingsThe results highlighted that an attractive credit demand for LSPs consists in suppliers with high amounts of inventory or borrowing needs that go beyond their borrowing capacity from the perspective of a bank. LSPs can respond to this demand when they have three specific capabilities as follows: risk assessment, risk monitoring and organizational capabilities. The offer of inventory financing can be controlled by the LSPs or by the banks. When the LSPs control the offer, they offer different conditions compared to the banks in terms of credit rationing, transaction costs, payment flexibility, tax rate advantage and financial risk management. When the banks control the offer, the LSPs influence the nature of the SCF services only in terms of credit rationing and transaction costs. The LSPs seem to easily develop risk assessment and risk mitigation capabilities, while the organisational capabilities appear to be the most challenging to build, and when absent they create a barrier to the provision of inventory financing.Originality/valueThe value of the paper is twofold. First, the paper provides a comprehensive taxonomy of the factors conditioning the role of the LSPs in the provision of inventory financing as a SCF service. Second, the paper clarifies the link between the factors and the different roles played by the LSPs.
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Bhasin, Narinder Kumar, and Anupama Rajesh. "A Study of Digital Payments." International Journal of Virtual Communities and Social Networking 10, no. 1 (January 2018): 46–64. http://dx.doi.org/10.4018/ijvcsn.2018010104.
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The challenges and emergence of a global economy and a Digital First World has created financial disruptions in e-commerce and e-business around the globe. The collaborations of banks with Fintech companies have led to digitalization being an important component of their business and marketing strategy. The application of e-banking has been demonstrated as an effective cost reduction, risk management and provides quick services to the customers. Nowadays, e-banking services have already ensured opportunities to reduce expenditures on physical structures. However, in some previous studies it has been showed that e-banking has helped banks and financial institutions to reduce costs, increase revenue, and increase customer experience. With the growth of digital banking in India, it is significant to analyze the actual situation of customer satisfaction in the banking sector. This article evaluates the various new digital banking technologies in the banking sector of India which have gained momentum after various banking reforms like the digital financial inclusion, demonetization and GST implementation. It also identifies the relationship between the increasing trends in the usage of electronic banking and a customer paradigm shift from traditional cash and paper-based cheque payment systems and evaluates various challenges and opportunities in the implementation of digitalization. This research was carried out using multiple methodologies.