Payment System Research Papers - Academia.edu (original) (raw)

We survey the limited data that exists concerning the cost of making/receiving a payment by banks, retailers, and other parties to a transaction. Since an electronic payment costs between one-third and onehalf that of a paper-based... more

We survey the limited data that exists concerning the cost of making/receiving a payment by banks, retailers, and other parties to a transaction. Since an electronic payment costs between one-third and onehalf that of a paper-based instrument, a country may save 1% of its GDP annually as it shifts from a fully paper-based to a fully electronic-based payment system. Some

Online auction, shopping, electronic billing etc. all such types of application involves problems of fraudulent transactions. Online fraud occurrence and its detection is one of the challenging fields for web development and online... more

Online auction, shopping, electronic billing etc. all such types of application involves problems of fraudulent transactions. Online fraud occurrence and its detection is one of the challenging fields for web development and online phantom transaction. As no-secure specification of online frauds is in research database, so the techniques to evaluate and stop them are also in study. We are providing an approach with Hidden Markov Model (HMM) and mobile implicit authentication to find whether the user interacting online is a fraud or not. We propose a model based on these approaches to counter the occurred fraud and prevent the loss of the customer. Our technique is more parameterized than traditional approaches and so,chances of detecting legitimate user as a fraud will reduce.

This paper develops and simulates a model of emergence of networks in an interbank, RTGS payment system. A number of banks, faced with random streams of payment orders, choose whether to link directly to the payment system, or to use a... more

This paper develops and simulates a model of emergence of networks in an interbank, RTGS payment system. A number of banks, faced with random streams of payment orders, choose whether to link directly to the payment system, or to use a correspondent bank. Settling payments directly via the system imposes liquidity costs, which depend on the maximum liquidity overdraft incurred during the day. On the other hand, using a correspondent entails paying a flat fee, charged by the correspondent to recoup liquidity costs and to extract a profit. We specify a protocol whereby banks sequentially choose whether to link directly to the system or to become clients of other banks, thus generating a client-correspondent network. We calibrate our model on real data on the UK payment system, and we compare the networks it produces with i) the true client-correspondent network, ii) the outcomes of two ‘dummy' benchmark models. The model is found to outperform the benchmarks. Its predicted network...

BACKGROUND: There is evidence that pharmacist interventions improve clinical outcomes. The few studies that address economic outcomes (a) often report estimated instead of actual medical costs, (b) report only medication costs, or (c)... more

BACKGROUND: There is evidence that pharmacist interventions improve clinical outcomes. The few studies that address economic outcomes (a) often report estimated instead of actual medical costs, (b) report only medication costs, or (c) have been conducted in settings that are not typical of community-based primary care. OBJECTIVES: To (a) determine whether a clinical pharmacist's recommen- dations to physicians regarding optimizing

We investigate the euro unsecured interbank money market during the current financial crisis. To identify the loans traded in this market and settled in TARGET2, we extend the algorithm developed by Furfine (1999) and adapt it to the... more

We investigate the euro unsecured interbank money market during the current financial crisis. To identify the loans traded in this market and settled in TARGET2, we extend the algorithm developed by Furfine (1999) and adapt it to the European interbank loan market with maturity up to one year. This paper solves the problem of systematic errors which occur when you

PayPal is an account-based system that allows anyone with an email address to send and receive online payment s. This service is easy to use for customers. Members can instantaneously send money to anyone. Recipients are informed by email... more

PayPal is an account-based system that allows anyone with an email address to send and receive online payment s. This service is easy to use for customers. Members can instantaneously send money to anyone. Recipients are informed by email that they have received a payment. PayPal is also available to people in 38 countries. This paper starts with introduction to the company and its services. The information about the history and the current company situation are covered. Later some interesting and different technical issues are discussed. The Paper ends with analysis of the company and several future recommendations.

Most electronic cash (e-cash) based payment systems that have been proposed do not possess the property of transferability. Transferability in an e-cash based system means that when a payee receives an electronic coin in a transaction he... more

Most electronic cash (e-cash) based payment systems that have been proposed do not possess the property of transferability. Transferability in an e-cash based system means that when a payee receives an electronic coin in a transaction he may spend it without depositing the coin first and getting a new coin issued from a bank. Usually electronic coins that are transferred in a transaction have a lifetime of the trans-action itself. In this paper, we propose a payment system where coins can be transferred over multiple hands, spread over various transactions, similar to physical cash. Detection or prevention of double spending of coins is a critical issue in online e-cash payment systems. In our system the verification is distributed across multiple entities as opposed to the case of a coin-issuing entity or a central bank alone being responsible for the verification. A resolution mechanism for handling disputes is also presented. The proposed system provides guarantees of anonymity, fairness and transferability.

What are the relative advantages and disadvantages of bank-based financial systems (as in Germany and Japan) and market-based financial systems (as in England and the United States). Does financial structure matter? In bank-based systems... more

What are the relative advantages and disadvantages of bank-based financial systems (as in Germany and Japan) and market-based financial systems (as in England and the United States). Does financial structure matter? In bank-based systems banks play a leading role in mobilizing savings, allocating capital, overseeing the investment decisions of corporate managers, and providing risk management vehicles. In market-based systems securities

To provide card holder authentication while they are conducting an electronic transaction using mobile devices, VISA and MasterCard independently pro-posed two electronic payment protocols: Visa 3D Secure and MasterCard Secure Code. The... more

To provide card holder authentication while they are conducting an electronic transaction using mobile devices, VISA and MasterCard independently pro-posed two electronic payment protocols: Visa 3D Secure and MasterCard Secure Code. The protocols use ...

The authors provide a detailed study of the Swiss pension system, analyzing its strengths and weaknesses. The unfunded public pillar is highly redistributive. It has near universal coverage, a low dispersion of benefits (the maximum... more

The authors provide a detailed study of the Swiss pension system, analyzing its strengths and weaknesses. The unfunded public pillar is highly redistributive. It has near universal coverage, a low dispersion of benefits (the maximum public pension is twice the minimum), and no ceiling on contributions. Low-income pensioners receive means-tested supplementary benefits. Payroll taxes are low, but government transfers cover 27 percent of total benefits. Total benefits amount to 9.1 percent of GDP, equivalent to 15.2 percent of covered earnings. The funded private pillar was made compulsory in a defensive move against the relentless expansion of the public pillar. The compulsory pillar stipulates minimum benefits in the form of age-related credits, a minimum interest rate on accumulated credits, and a minimum annuity conversion factor, aimed to smooth changes in interest rates over time. Low-income workers are not required to participate in the second pillar. The first and second pillar...