Pub Date : 1900-01-01DOI: 10.4018/978-1-5225-5270-3.CH007
Liguo Yu, Liping Sun
This chapter describes mobile payment, a mobile financial activity born of digital revolution, which is the combination of electronic money and mobile technology. The underlying technologies of mobile payment, its big players, and its status quo and future trend are discussed. In addition, this chapter discusses how mobile payment is related to social equality and social inclusion. Through presenting the historical, technical, economic, and social aspects of mobile payment, this chapter intends to provide readers with a holistic view of one of the fast-evolving financial activities that are transforming business, individuals, and the society.
{"title":"Mobile Payment and Its Social Impact","authors":"Liguo Yu, Liping Sun","doi":"10.4018/978-1-5225-5270-3.CH007","DOIUrl":"https://doi.org/10.4018/978-1-5225-5270-3.CH007","url":null,"abstract":"This chapter describes mobile payment, a mobile financial activity born of digital revolution, which is the combination of electronic money and mobile technology. The underlying technologies of mobile payment, its big players, and its status quo and future trend are discussed. In addition, this chapter discusses how mobile payment is related to social equality and social inclusion. Through presenting the historical, technical, economic, and social aspects of mobile payment, this chapter intends to provide readers with a holistic view of one of the fast-evolving financial activities that are transforming business, individuals, and the society.","PeriodicalId":202263,"journal":{"name":"Research Anthology on Concepts, Applications, and Challenges of FinTech","volume":"37 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131622294","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}
Pub Date : 1900-01-01DOI: 10.4018/978-1-5225-9183-2.CH001
Debra Hooi Chern Lee, M. Rehman, Hui Nee Au Yong, M. Hashmani
This chapter explores the concept of Financial Technology (FinTech) and how it has progressed to where it is today. This understanding is further supplemented with the applications of FinTech and the challenges it has to tackle in order to continue to evolve in a favourable manner. Being a key player in the FinTech sector, this chapter also delves into the concept of blockchain technology (BCT) to comprehend how it holds the power to impact society through revolutionary applications. As the world heralds an era of FinTech, this chapter aims to give insights on the potential of FinTech and how it cross borders to change the lives of many.
{"title":"Financial Technologies","authors":"Debra Hooi Chern Lee, M. Rehman, Hui Nee Au Yong, M. Hashmani","doi":"10.4018/978-1-5225-9183-2.CH001","DOIUrl":"https://doi.org/10.4018/978-1-5225-9183-2.CH001","url":null,"abstract":"This chapter explores the concept of Financial Technology (FinTech) and how it has progressed to where it is today. This understanding is further supplemented with the applications of FinTech and the challenges it has to tackle in order to continue to evolve in a favourable manner. Being a key player in the FinTech sector, this chapter also delves into the concept of blockchain technology (BCT) to comprehend how it holds the power to impact society through revolutionary applications. As the world heralds an era of FinTech, this chapter aims to give insights on the potential of FinTech and how it cross borders to change the lives of many.","PeriodicalId":202263,"journal":{"name":"Research Anthology on Concepts, Applications, and Challenges of FinTech","volume":"60 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124533312","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}
Pub Date : 1900-01-01DOI: 10.4018/978-1-5225-9550-2.ch009
Faisal Abubotain, P. Chamakiotis
With the constant development in FinTech globally, Saudi Arabia is a late arrival in the FinTech world. However, the FinTech growth pace in Saudi is fast and not slowing down. This fast pace is confusing stakeholders, including bankers. This chapter unpacks how FinTech is developing in Saudi Arabia, considers the challenges and opportunities that FinTech may be facing in Saudi, and discusses how these changes may affect current bankers and how future bankers can be ready to enter the new market. The study draws on interviews with professionals in the banking and FinTech industries and makes two contributions: It suggests that FinTech is affecting retail and long-tail clients of banks (i.e., the effect on core banking operations, such as corporate banking and treasury). Findings also highlight that professionals should upgrade their knowledge around matters necessary to retain their jobs in the sector. The study has implications for future bankers (i.e., university students), suggesting that university curricula should be updated to include relevant knowledge and professional placements.
{"title":"FinTech in the Saudi Context","authors":"Faisal Abubotain, P. Chamakiotis","doi":"10.4018/978-1-5225-9550-2.ch009","DOIUrl":"https://doi.org/10.4018/978-1-5225-9550-2.ch009","url":null,"abstract":"With the constant development in FinTech globally, Saudi Arabia is a late arrival in the FinTech world. However, the FinTech growth pace in Saudi is fast and not slowing down. This fast pace is confusing stakeholders, including bankers. This chapter unpacks how FinTech is developing in Saudi Arabia, considers the challenges and opportunities that FinTech may be facing in Saudi, and discusses how these changes may affect current bankers and how future bankers can be ready to enter the new market. The study draws on interviews with professionals in the banking and FinTech industries and makes two contributions: It suggests that FinTech is affecting retail and long-tail clients of banks (i.e., the effect on core banking operations, such as corporate banking and treasury). Findings also highlight that professionals should upgrade their knowledge around matters necessary to retain their jobs in the sector. The study has implications for future bankers (i.e., university students), suggesting that university curricula should be updated to include relevant knowledge and professional placements.","PeriodicalId":202263,"journal":{"name":"Research Anthology on Concepts, Applications, and Challenges of FinTech","volume":"2014 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127505620","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}
Pub Date : 1900-01-01DOI: 10.4018/978-1-7998-1196-1.ch006
Burcu Sakız
As technological innovation transforms our economies, companies and start-ups all over the world are performing developments on financial technologies called “FinTech/fintech” for a chance to thrive. It even sparked the invention of blockchain and the inception of cryptocurrencies (digital/virtual money) such as Bitcoin. The blockchain technology provides Bitcoin's public ledger, an ordered and timestamped record of transactions. Blockchain is one of a kind decentralized technology mainly used by fintechs and it is a distributed as well as decentralized ledger that presents a radical, new, modern, and disruptive way of conducting all manner of transactions over the internet. Blockchain-based applications provide many opportunities to create a more sustainable world. With this research agenda, this chapter contributes to the discussion on future avenues for sustainability and information systems research on fintechs, especially cryptocurrencies and blockchain-based platforms and services.
{"title":"New Financial Technologies, Cryptocurrencies, Blockchain, and Challenges","authors":"Burcu Sakız","doi":"10.4018/978-1-7998-1196-1.ch006","DOIUrl":"https://doi.org/10.4018/978-1-7998-1196-1.ch006","url":null,"abstract":"As technological innovation transforms our economies, companies and start-ups all over the world are performing developments on financial technologies called “FinTech/fintech” for a chance to thrive. It even sparked the invention of blockchain and the inception of cryptocurrencies (digital/virtual money) such as Bitcoin. The blockchain technology provides Bitcoin's public ledger, an ordered and timestamped record of transactions. Blockchain is one of a kind decentralized technology mainly used by fintechs and it is a distributed as well as decentralized ledger that presents a radical, new, modern, and disruptive way of conducting all manner of transactions over the internet. Blockchain-based applications provide many opportunities to create a more sustainable world. With this research agenda, this chapter contributes to the discussion on future avenues for sustainability and information systems research on fintechs, especially cryptocurrencies and blockchain-based platforms and services.","PeriodicalId":202263,"journal":{"name":"Research Anthology on Concepts, Applications, and Challenges of FinTech","volume":"53 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133184788","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}
Pub Date : 1900-01-01DOI: 10.4018/978-1-7998-8546-7.ch004
Mohammed Fisal Abu Khaled
This chapter intends to document the various ways that the nascent technology, blockchain, and other forms of distributed ledger technology (DLT) can provide both increased and decreased risk as well as offer FinTech industries a fertile environment to pursue key technological advancements that can help shape almost every facet of the financial world. Issues of trust, transparency, and privacy will be explored as it pertains to the execution of blockchain technology within financial sectors. Strengths and weakness will be explored within regulations, legal environments, risk management, and the environment. Based on the findings of a comprehensive literature review, possible solutions and recommendations will be provided for governmental agencies, regulators, and users of financial services with a special focus on Islamic FinTech. Future research directions will also be shared that can assist Islamic FinTech.
{"title":"Risk Management in the Era of Blockchain","authors":"Mohammed Fisal Abu Khaled","doi":"10.4018/978-1-7998-8546-7.ch004","DOIUrl":"https://doi.org/10.4018/978-1-7998-8546-7.ch004","url":null,"abstract":"This chapter intends to document the various ways that the nascent technology, blockchain, and other forms of distributed ledger technology (DLT) can provide both increased and decreased risk as well as offer FinTech industries a fertile environment to pursue key technological advancements that can help shape almost every facet of the financial world. Issues of trust, transparency, and privacy will be explored as it pertains to the execution of blockchain technology within financial sectors. Strengths and weakness will be explored within regulations, legal environments, risk management, and the environment. Based on the findings of a comprehensive literature review, possible solutions and recommendations will be provided for governmental agencies, regulators, and users of financial services with a special focus on Islamic FinTech. Future research directions will also be shared that can assist Islamic FinTech.","PeriodicalId":202263,"journal":{"name":"Research Anthology on Concepts, Applications, and Challenges of FinTech","volume":"220 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130484402","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}
Pub Date : 1900-01-01DOI: 10.4018/978-1-7998-8546-7.ch027
Nhuong Bui, Long Pham, S. Williamson, Cyrus Mohebbi, Hanh Le
With mobile technologies' rapid development involving wireless networks and internet infrastructure, e-commerce has been evolving into a new, more significant phase: mobile commerce. Businesses throughout the world are highly motivated to invest in mobile commerce infrastructure and deploy their mobile commerce strategies as a source of sustainable competitive advantage to maintain existing and attract new customers. As probably the first systematic and comprehensive effort to date, this study analyzes the factors affecting customers' intention to use mobile commerce in Vietnam. The results show that perceived ease of use, perceived usefulness, variety of services, and trialability have both direct and indirect positive (via perceived usefulness) impacts on intention to use mobile commerce, while trust and social influence have indirect positive impacts on intention to use mobile commerce in Vietnam. Cost does not have any impact on intention to use mobile commerce in Vietnam. The results of this study are also compared with that of studies on mobile commerce conducted in China and Malaixia by Chong et al. Theoretical and practical implications, especially for helping businesses understand how to capture more customers in a rapidly developing country, Vietnam, are discussed.
{"title":"Intention to Use Mobile Commerce","authors":"Nhuong Bui, Long Pham, S. Williamson, Cyrus Mohebbi, Hanh Le","doi":"10.4018/978-1-7998-8546-7.ch027","DOIUrl":"https://doi.org/10.4018/978-1-7998-8546-7.ch027","url":null,"abstract":"With mobile technologies' rapid development involving wireless networks and internet infrastructure, e-commerce has been evolving into a new, more significant phase: mobile commerce. Businesses throughout the world are highly motivated to invest in mobile commerce infrastructure and deploy their mobile commerce strategies as a source of sustainable competitive advantage to maintain existing and attract new customers. As probably the first systematic and comprehensive effort to date, this study analyzes the factors affecting customers' intention to use mobile commerce in Vietnam. The results show that perceived ease of use, perceived usefulness, variety of services, and trialability have both direct and indirect positive (via perceived usefulness) impacts on intention to use mobile commerce, while trust and social influence have indirect positive impacts on intention to use mobile commerce in Vietnam. Cost does not have any impact on intention to use mobile commerce in Vietnam. The results of this study are also compared with that of studies on mobile commerce conducted in China and Malaixia by Chong et al. Theoretical and practical implications, especially for helping businesses understand how to capture more customers in a rapidly developing country, Vietnam, are discussed.","PeriodicalId":202263,"journal":{"name":"Research Anthology on Concepts, Applications, and Challenges of FinTech","volume":"82 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128415026","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}
Pub Date : 1900-01-01DOI: 10.4018/978-1-5225-9377-5.CH004
Konstantinos Tsanis
The Gulf states, attempting to diversify their economies, have focused largely on transforming their economies. Part of their transformation focus areas is the technology sector. FinTech is a generic term used for all financial technology developments, and has gained a lot of traction in the recent years. As Financial services is one of the main sources of GDP for the GCC states, the GCC governments have focused in promoting the FinTech entrepreneurship spirit, through different initiatives. In the chapter, the authors analyze the FinTech ecosystem development mode for all the GCC countries, focusing on understanding the reason that have made it one of the most successful FinTech ecosystems globally.
{"title":"FinTech Strategies in the GCC","authors":"Konstantinos Tsanis","doi":"10.4018/978-1-5225-9377-5.CH004","DOIUrl":"https://doi.org/10.4018/978-1-5225-9377-5.CH004","url":null,"abstract":"The Gulf states, attempting to diversify their economies, have focused largely on transforming their economies. Part of their transformation focus areas is the technology sector. FinTech is a generic term used for all financial technology developments, and has gained a lot of traction in the recent years. As Financial services is one of the main sources of GDP for the GCC states, the GCC governments have focused in promoting the FinTech entrepreneurship spirit, through different initiatives. In the chapter, the authors analyze the FinTech ecosystem development mode for all the GCC countries, focusing on understanding the reason that have made it one of the most successful FinTech ecosystems globally.","PeriodicalId":202263,"journal":{"name":"Research Anthology on Concepts, Applications, and Challenges of FinTech","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128511552","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}
Pub Date : 1900-01-01DOI: 10.4018/978-1-5225-7805-5.CH004
Benjamin Enahoro Assay
The introduction of FinTech into Africa's digital financial services environment has provoked a controversy as to whether the innovative technology should be assimilated by banks and other financial service providers or not, thus creating uncertainty about the future of FinTech on the continent. This chapter, therefore, examines the issues, controversy, and problems surrounding the debut of FinTech and suggest ways to make the technology acceptable in order to harness its potentials for the overall benefit of the African society.
{"title":"FinTech for Digital Financial Services","authors":"Benjamin Enahoro Assay","doi":"10.4018/978-1-5225-7805-5.CH004","DOIUrl":"https://doi.org/10.4018/978-1-5225-7805-5.CH004","url":null,"abstract":"The introduction of FinTech into Africa's digital financial services environment has provoked a controversy as to whether the innovative technology should be assimilated by banks and other financial service providers or not, thus creating uncertainty about the future of FinTech on the continent. This chapter, therefore, examines the issues, controversy, and problems surrounding the debut of FinTech and suggest ways to make the technology acceptable in order to harness its potentials for the overall benefit of the African society.","PeriodicalId":202263,"journal":{"name":"Research Anthology on Concepts, Applications, and Challenges of FinTech","volume":"23 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125836838","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}
Pub Date : 1900-01-01DOI: 10.4018/978-1-7998-2610-1.ch011
E. Y. Afeti, J. Amanfo
Merchant adoption of mobile payments is facilitating new business models and changing the way merchants run their brick and mortar businesses. Despite the advantages of mobile payment adoption to the merchant, they still hesitate to adopt mobile payments. Thus, the study seeks to explore qualitatively through a case study the enablers and inhibitors to merchant adoption of mobile payments. The study identified that merchants are adopting mobile payments to facilitate new business models, to promote the disintermediation of traditional intermediaries, to offer different possibilities of growing their businesses, and to reduce transaction costs. Even though merchants believe that mobile payments adoption and use improve operational efficiency to their businesses, there are instances of fraud, particularly in the peer-to-peer transfer sector, data breaches, data security, and privacy concerns. Therefore, it is imperative for service providers of mobile payments to enhance technological issues regarding privacy protection that could enhance trust towards mobile payment adoption.
{"title":"Enablers and Inhibitors of Merchant Adoption of Mobile Payments","authors":"E. Y. Afeti, J. Amanfo","doi":"10.4018/978-1-7998-2610-1.ch011","DOIUrl":"https://doi.org/10.4018/978-1-7998-2610-1.ch011","url":null,"abstract":"Merchant adoption of mobile payments is facilitating new business models and changing the way merchants run their brick and mortar businesses. Despite the advantages of mobile payment adoption to the merchant, they still hesitate to adopt mobile payments. Thus, the study seeks to explore qualitatively through a case study the enablers and inhibitors to merchant adoption of mobile payments. The study identified that merchants are adopting mobile payments to facilitate new business models, to promote the disintermediation of traditional intermediaries, to offer different possibilities of growing their businesses, and to reduce transaction costs. Even though merchants believe that mobile payments adoption and use improve operational efficiency to their businesses, there are instances of fraud, particularly in the peer-to-peer transfer sector, data breaches, data security, and privacy concerns. Therefore, it is imperative for service providers of mobile payments to enhance technological issues regarding privacy protection that could enhance trust towards mobile payment adoption.","PeriodicalId":202263,"journal":{"name":"Research Anthology on Concepts, Applications, and Challenges of FinTech","volume":"28 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125315394","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}
Pub Date : 1900-01-01DOI: 10.4018/978-1-5225-4035-9.CH006
S. Pathak, S. Virani
According to the RBI governor, technology-enabled financial information will spread financial literacy in an efficient and secure manner. India needs inclusive growth to pull millions out of poverty and mobile phone penetration can be a good opportunity. Consumers are exposed to a plethora of financial products but the knowledge is either not there or limited to make judicious choices. The successful implementation of financial literacy services would benefit rural people but it is a challenge to all stakeholders today. One-hundred twenty-five people all over India were selected for a survey and results point that rural poor accept mobile technology for banking related information but do not want to adopt the technology. There are various challenges for financial literacy in India discussed in the chapter. Also, opportunities are many for digital literacy and can be achieved if the challenges are overcome. All the stakeholders should put in concerted efforts at all levels to achieve financial inclusion through mobile technology disruption.
{"title":"Financial Literacy for Financial Inclusion Using Mobile Technology in India","authors":"S. Pathak, S. Virani","doi":"10.4018/978-1-5225-4035-9.CH006","DOIUrl":"https://doi.org/10.4018/978-1-5225-4035-9.CH006","url":null,"abstract":"According to the RBI governor, technology-enabled financial information will spread financial literacy in an efficient and secure manner. India needs inclusive growth to pull millions out of poverty and mobile phone penetration can be a good opportunity. Consumers are exposed to a plethora of financial products but the knowledge is either not there or limited to make judicious choices. The successful implementation of financial literacy services would benefit rural people but it is a challenge to all stakeholders today. One-hundred twenty-five people all over India were selected for a survey and results point that rural poor accept mobile technology for banking related information but do not want to adopt the technology. There are various challenges for financial literacy in India discussed in the chapter. Also, opportunities are many for digital literacy and can be achieved if the challenges are overcome. All the stakeholders should put in concerted efforts at all levels to achieve financial inclusion through mobile technology disruption.","PeriodicalId":202263,"journal":{"name":"Research Anthology on Concepts, Applications, and Challenges of FinTech","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116524243","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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