The Digital Transformation of Payment: A Glimpse Into the Future of Mobile Payment Systems


Book Description

Master's Thesis from the year 2021 in the subject Business economics - Market research, grade: 1,0, accadis Hochschule Bad Homburg, language: English, abstract: Mobile payment systems are an innovation that allows people to make contactless payments with a mobile device (such as a smartphone) at the cash register in brick-and-mortar retail outlets without carrying a wallet with credit and debit cards. While other countries have almost entirely adopted and integrated this innovation into their daily lives, adoption rates in Germany remain significantly low. Hence, the objective of this work is to analyze the future of mobile payment systems in Germany with respect to the reasons for adoption or refusal. In particular, the following research question was addressed: Will mobile payment methods replace physical cards in Germany, or will certain factors prevent full adoption?




Impact of Mobile Payment Applications and Transfers on Business


Book Description

Consumers continue to rely heavily on their phones to complete such tasks as transferring funds between banks or accounts, depositing or withdrawing funds, paying bills, and purchasing items. Mobile money users are oftentimes more financially resilient and can protect themselves better against economic and other shocks. Moreover, mobile money can increase the velocity of money in circulation because it reduces the transactions and time costs of making retail payments. As such, understanding the impact of mobile payments is imperative for businesses and the economy. Impact of Mobile Payment Applications and Transfers on Business is a pivotal reference source that provides vital research on mobile money transfer and its impact in social, corporate, and micro- and macro-policies concerning the aggregate economy and individual households as a whole within an economy. It covers the impact, innovations, business-to-business transformations, regulatory framework, challenges, and ethical issues surrounding mobile money transfers around the world. This book is ideally designed for economists, financial analysts, business managers, leaders, scholars, practitioners, researchers, and students in fields that include management, finance, economics, commerce, and leadership.




Mobile Payment


Book Description

Paying with mobile devices such as mobile phones or smart phones will expand worldwide in the coming years. This development provides opportunities for various industries (banking, telecommunications, credit card business, manufacturers, suppliers, retail) and for consumers. The book comprehensively describes current status, trends and critical aspects of successful mobile payment. It combines theory and practice. Comprising essential aspects of a successful mobile payment as well as successful case studies and practical examples, this book is for all who are developing, offering and using mobile payment.




Google Wallet - A Glimpse into the future of mobile payments


Book Description

Project Report from the year 2011 in the subject Business economics - Information Management, University of Southern California, language: English, abstract: Over the past few thousand years of evolution, the way we pay has changed shapes and materials. It has gone from gold to coins, paper money to plastic cards and now with Google’s venture into the mobile payment industry, we are at the threshold of the next big shift. Google Wallet is a mobile payment Android app that transforms a phone into a wallet. This app utilizes the Near Field Communication (NFC) technology that allows its users to pay for purchased items and redeem offers. At this initial stage of business, there are many features and factors that Google needs to change in order to bring about the mass adoption of this service. As the Business Technology Analysts at Google, we - Kritika Maheshwari, Malvika Saraf and Rohan Handa aim at addressing the hurdles for this technology and the methods to bring it to fruition. In the process we evaluate Google’s profit motivation and the bigger strategy behind this service. First, we explain the business approach which describes the importance of the adopted business model. We use Porter’s Five Force analysis to determine the competitive intensity in the market followed by SWOT analysis to give recommendations that will help in the mass adoption. Finally, we focus our paper on formulating a strategy canvas in order to study the existing payment methods in comparison to our service. The paper concludes with recommendations to Google for promoting wide customer acceptance.




Moving Money


Book Description

Once we paid for things with bills, coins, or checks. Today we pay with zeroes and ones—digital entries on credit and debit cards, or electronic messages sent over the Internet. In Moving Money, distinguished analysts explore this trend, its development and likely future, and the ramifications of this transformation. This is a book about money as a medium of exchange—in the past, in the present, but particularly in the future. What forms has money taken over the years? Moreover, how have those means of payment changed in recent years, and how will they develop in the future? And what (if anything) should policymakers do to facilitate those changes, or at least allow them to develop and mature? Brookings economists Robert E. Litan and Martin Neil Baily and a distinguished group of experts dissect these issues and peer into the future of consumer payments. The landscape of the consumer payments industry will be shaped at least in part by public policies. Historically, governments have had monopolies on the manufacture of money. Any form of payment clearly requires trust on the part of both the seller and the buyer, and the government must establish and enforce laws to secure this relationship. More controversial is the issue of whether, and to what extent, government is also needed to protect the market in private sector payments systems. Why do these issues matter? The payments industry is a large and important sector of developed economies. In the United States, private-sector payments providers generate approximately $280 billion a year in revenue, while the government invests substantial resources into making money (minting coins and printing bills) or moving it (via checks and various electronic transfers). And the way we pay for things influences our purchases—what we spend money on, how much we spend, and where we spend it. Thus the future of consumer payments is intertwined with the health of national economies. Contri




Mobile Payment Systems


Book Description

This important text/reference presents the latest research and developments in the field of mobile payment systems (MPS), covering issues of mobile device security, architectures and models for MPS, and transaction security in MPS. Topics and features: introduces the fundamental concepts in MPS, discussing the benefits and disadvantages of such systems, and the entities that underpin them; reviews the mobile devices and operating systems currently available on the market, describing how to identify and avoid security threats to such devices; examines the different models for mobile payments, presenting a classification based on their core features; presents a summary of the most commonly used cryptography schemes for secure communications; outlines the key challenges in MPS, covering security for ubiquitous mobile commerce and usability issues; highlights the opportunities offered by mobile cloud computing and vehicular ad hoc networks in the design and development of MPS.




TRUSTING MOBILE PAYMENT


Book Description

In this book Andrea Bauer examines the apparently simple question of the role of trust in the development and establishment of mobile payment services. The proliferation of new payment instruments was always associated with the condition of trustworthiness. Even if the form of payment has changed constantly in the past (e.g. cowrie shells, stones, coins, paper notes, plastic cards or electronic digits), the demand for trustworthiness was always an essential factor regarding its market acceptance. What trust exactly is, which functions trust has in the use of technical solutions and which aspects and determinants of trust are crucial regarding mobile payment services, Andrea Bauer will analyze in the present work.




Launching mobile payment systems in the DACH region. A trend investigation and SWOT analysis based on examples of Chinese providers


Book Description

Mobile business expands rapidly. The increasing number of Internet-enabled devices is creating an ecosystem with almost endless possibilities. In order to survive in this emerging ecosystem, companies have to implement new applications and take many actions and adaptions. In fact, this need for innovation affects nearly every online business. Denise Gaber examines transactions in local shops made through payment applications on customers’ smartphones, the so-called Proximity Mobile Payment Systems. She also explains the trend of proximity mobile payment and its rapid development in China compared to the low adoption rate in Austria, Germany and Switzerland. How can mobile payment be implemented successfully? Gaber gives a SWOT analysis to indicate obstacles and to plan implementation and business strategies. As best practices she examines companies like WeChat Wallet and Alipay. Her findings are based on a profound analysis of the markets of Germany, Austria, Switzerland and China. In this book: - app; - e-commerce; - m-commerce; - mobile commerce; - m-payment




E-payment


Book Description

The volume of payments handled electronically has increased dramatically in recent years, as have liquidity, volatility and the amount of money flows across borders. This important global trend works together with a growing integration in corporate business processes, and a convergence in network architecture as e-payment of all kinds moves to Internet protocol systems. The net result is a new e-payment landscape that presents daunting challenges on many levels, as well as exciting opportunities, for banks, businesses and governments. Consumer and citizen interests are also at stake. This book takes a unique, wholly integrated look at the e-payment landscape, understanding the way that existing systems are being stretched and challenged. Credit card systems are extended to facilitate Internet-based eCommerce. Consumers are becoming accustomed to using their stored-value mass transit cards to make payments for goods and services. Corporations put pressure on banks to integrate business information into their electronic payment processes. New non-financial players emerge holding important floats and many of these players are challenging for key parts of the banking franchise. This bo




The Cashless Revolution


Book Description

The Cashless Revolution: How Gen Alpha and Gen Z are Transforming Payments In The Cashless Revolution, discover how the tech-savvy Gen Alpha and Gen Z are reshaping the financial landscape and driving the world toward a cashless society. This insightful book delves into the rapid adoption of digital wallets and payment apps, revealing the key factors behind their popularity among these influential generations. Explore the pivotal role of digital payments in promoting financial inclusion, enhancing consumer experience, and transforming traditional banking and financial services. With detailed case studies from global leaders like M-Pesa, WeChat Pay, and UPI, this book provides a comprehensive overview of how digital wallets are bridging the gap for the unbanked and revolutionizing mobile money. Learn about the regulatory frameworks and security measures that ensure the safe use of contactless payments, and understand how governments and financial institutions can leverage these technologies to foster innovation and drive economic growth. Discover the latest trends in blockchain, cryptocurrencies, and super apps, and how they are poised to further disrupt the financial ecosystem. Perfect for anyone interested in the future of fintech, e-commerce, and digital transformation, The Cashless Revolution offers a thorough analysis of the opportunities and challenges that lie ahead. Whether you are a business leader, financial professional, policymaker, or simply curious about the evolving world of finance, this book provides valuable insights into the forces shaping the future of money.