“Electronic Money” which is also known as e-Money or Digital Money is distinguished by definition compared to other forms of electronic usage of money. Stored value or pre-paid products in which the monetary value is stored on an electronic device in the consumer’s possession are considered as electronic money products. Hence, typical debit and credit cards, mobile banking and Internet banking do not fall under e-Money classification. There are no specific regulations or guidelines issued for e-Money in Sri Lanka. Current e-Money operations are mainly governed by Mobile Payments Guidelines No. 1 and 2 of 2011 for Bank-led Mobile Payment Services and Custodian Account Based Mobile Payment Services, respectively. Also, these operations are further impacted by several other regulations in Sri Lanka which are not directly relevant to eMoney. Considering current trends and growth of electronic based transactions and comparing other developed markets, Sri Lanka has the potential of embracing electronic money products. Therefore, it is pertinent for Sri Lanka to develop specific legislations and directions for electronic money.This paper presents a detail analysis of applicable existing local regulations and selected international standards practiced in developed eMoney markets such as Europe, Japan, Hong Kong, and Kenya. Gap analysis for local regulation was conducted in comparison to the summarized international best practices and suggestions were developed in order to address them. As the final artifact of the paper, a framework covering the regulations with eight key aspects covering definitions, eligibility for issuers and process of approval, authority and their powers, customer onboarding and due diligence, consumer and merchant protection, operational guidelines and restrictions, dispute handling and legal framework, technology mandates and interoperability were developed and the operational regulatory process with five main components covering continuous monitoring and improvements were proposed for Electronic Money Regulations in Sri Lanka for Future Sustainability and Governance.
{"title":"Analysis of the Regulatory Framework for Electronic Money in Sri Lanka: Suggestions for Future Sustainability and Governance","authors":"Sandun Hapugoda, C. Hewagamage","doi":"10.2139/ssrn.2699803","DOIUrl":"https://doi.org/10.2139/ssrn.2699803","url":null,"abstract":"“Electronic Money” which is also known as e-Money or Digital Money is distinguished by definition compared to other forms of electronic usage of money. Stored value or pre-paid products in which the monetary value is stored on an electronic device in the consumer’s possession are considered as electronic money products. Hence, typical debit and credit cards, mobile banking and Internet banking do not fall under e-Money classification. There are no specific regulations or guidelines issued for e-Money in Sri Lanka. Current e-Money operations are mainly governed by Mobile Payments Guidelines No. 1 and 2 of 2011 for Bank-led Mobile Payment Services and Custodian Account Based Mobile Payment Services, respectively. Also, these operations are further impacted by several other regulations in Sri Lanka which are not directly relevant to eMoney. Considering current trends and growth of electronic based transactions and comparing other developed markets, Sri Lanka has the potential of embracing electronic money products. Therefore, it is pertinent for Sri Lanka to develop specific legislations and directions for electronic money.This paper presents a detail analysis of applicable existing local regulations and selected international standards practiced in developed eMoney markets such as Europe, Japan, Hong Kong, and Kenya. Gap analysis for local regulation was conducted in comparison to the summarized international best practices and suggestions were developed in order to address them. As the final artifact of the paper, a framework covering the regulations with eight key aspects covering definitions, eligibility for issuers and process of approval, authority and their powers, customer onboarding and due diligence, consumer and merchant protection, operational guidelines and restrictions, dispute handling and legal framework, technology mandates and interoperability were developed and the operational regulatory process with five main components covering continuous monitoring and improvements were proposed for Electronic Money Regulations in Sri Lanka for Future Sustainability and Governance.","PeriodicalId":104892,"journal":{"name":"12th International Conference on Business Management (ICBM) 2015 (Archive)","volume":"84 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-12-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126207994","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
S. Maheepala, B. Warnakulasooriya, Weerakoon Banda Yatiwella
Purpose – The servitization of manufacturing is a wider and complex field of research interest. A trend in which manufacturing firms adopt service components in their offerings is defined as the servitization. The purpose of this paper is to report the literature in the servitization and related constructs.Design/methodology/approach – Authors have conducted a systematic review of the research literature in the area of servitization of manufacturing. 115 articles central and relevant to the servitization were initially selected using SSRN, JSTOR, Emerald, Taylor & Francis, Wiley online, ScienceDirect, ResearchGate based on higher citation and relevance to the study. Out of 115 articles 40 publications relevant to the key themes identified were selected to further study. Selected articles were deeply studied and Thematic Analysis was conducted. Key themes of Servitization were reported in this paper.Findings- Servitization is the strategy of service integration into the core business in manufacturing organizations in order to enhance the competitive position of the organization. Servitization of manufacturing tend to emphasize the potential to maintain business growth, customer relationship, and competitive advantage. Supply chain networking and customer relationships are closely linked to the servitization process.Practical implications – This study creates the awareness about servitization to enhance customer relationship, business growth , competitive advantage, differentiation and customer value creation in manufacturing companies through servitization.
{"title":"Servitization in Manufacturing Firms: A Systematic Literature Review","authors":"S. Maheepala, B. Warnakulasooriya, Weerakoon Banda Yatiwella","doi":"10.2139/ssrn.2699899","DOIUrl":"https://doi.org/10.2139/ssrn.2699899","url":null,"abstract":"Purpose – The servitization of manufacturing is a wider and complex field of research interest. A trend in which manufacturing firms adopt service components in their offerings is defined as the servitization. The purpose of this paper is to report the literature in the servitization and related constructs.Design/methodology/approach – Authors have conducted a systematic review of the research literature in the area of servitization of manufacturing. 115 articles central and relevant to the servitization were initially selected using SSRN, JSTOR, Emerald, Taylor & Francis, Wiley online, ScienceDirect, ResearchGate based on higher citation and relevance to the study. Out of 115 articles 40 publications relevant to the key themes identified were selected to further study. Selected articles were deeply studied and Thematic Analysis was conducted. Key themes of Servitization were reported in this paper.Findings- Servitization is the strategy of service integration into the core business in manufacturing organizations in order to enhance the competitive position of the organization. Servitization of manufacturing tend to emphasize the potential to maintain business growth, customer relationship, and competitive advantage. Supply chain networking and customer relationships are closely linked to the servitization process.Practical implications – This study creates the awareness about servitization to enhance customer relationship, business growth , competitive advantage, differentiation and customer value creation in manufacturing companies through servitization.","PeriodicalId":104892,"journal":{"name":"12th International Conference on Business Management (ICBM) 2015 (Archive)","volume":"62 9","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-12-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114041002","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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