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Contingent valuation payment cards : how many cells?

Contingent valuation payment cards : how many cells?

The lack of, or minimal, improvements in efficiency from increasing cell numbers indicates that respondents did behave differently because of the number of cells on the payment cards. The uniformity of “don’t know” response rates indicates that differences in responses are qualitative, not quantitative and are suggestive of an increase in the variance of responses as cell numbers increase. In the study room case, that behavioural response did not have any significant effect on estimated bid distributions or measures of central tendency. Bid distributions did change for the video case, in which event the cards with fewer cells are likely to be more reliable than cards with more cells. In the absence of evidence that additional cells provide efficiency benefits, use of small payment cards, which are likely to place a smaller cognitive burden on respondents and therefore to reduce response variance, is recommended.

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The Making of Europe by Payment Cards : Hidden Integration in the Era of Neoliberalism  Politics, Finance and Technology from 1992 to 2010

The Making of Europe by Payment Cards : Hidden Integration in the Era of Neoliberalism Politics, Finance and Technology from 1992 to 2010

60 This thesis aims to catch a small part of the SEPA and reconstruct the emergence of this niche which affects the shaping of Europe. The SEPA embodies more, however, than only the SEPA for Cards. Therefore the obvious step for further research is to reconstruct the evolution of the SEPA for Direct Debits and the SEPA for Credit Transfers. These essential parts of the SEPA, which attracted the attention of the Eurosystem and the EPC when the development of SEPA started, includes interesting and complicated technological developments which addresses the global structure of transferring money. The other disciplines of the SEPA, SEPA Cash and SEPA Mobile, also provide perfect fields for further research. Especially the combination of these disciplines. The vision of the SEPA is to reduce cash payments to a minimum and convince European citizens to make more electronic payments. To stimulate electronic payments the NFC (Near Field Communication) technology of smart-phones could replace cash. As we speak some payment services and banks are experimenting with this technology. The final topic in the SEPA that deserves more attention is the IT-infrastructure which is constructed. For researchers in the field of IT this infrastructure is a complex code of different systems and languages which are connected with each other via complex infrastructural mechanisms. When taking distance from the content of SEPA and focussing on other research topics, the institutional development and the tensions that occurred within the European Union institutional field offers and interesting topic in the light of EU decision-making procedures. The vision of the SEA, the ratification of the Maastricht Treaty and the obstacles that hindered the implementation of the EMU provides interesting material for those interested in European

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Easykey   Multipurpose RFID Card based IoT System

Easykey Multipurpose RFID Card based IoT System

Our project EasyKey proposes the use of a single RFID (Radio Frequency Identification Reader) card to perform the operations of Authentication and Payment cards. This is how the EasyKey card can be used- when the user visits a store he/she can make payments using the card, when the user visits a hospital he/she can register using the same RFID card all the operations must go through the mobile device for authentication. The authentication will be two factor authentication for privacy and security purposes.

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UK and Spanish Banks Performances before, During and After the Financial Crisis: Consumer Behavior and Attitudes to Personal Risk

UK and Spanish Banks Performances before, During and After the Financial Crisis: Consumer Behavior and Attitudes to Personal Risk

This paper analyzes and compares the UK and Spanish banks performances before, during and after the financial crisis with a focus on the trend of ATMs, payment cards and accepted devices, ROA and ROE. The study results indicate that UK consumers use their bank cards more often than the Spanish consumers even after the financial crisis. Besides, UK banks´ consumers still preferred to use their debit cards at the Point of Sale. In contrast, Spanish consumers will rather use their credit and/or debit delayed cards. The number of ATM withdrawals and the average value of an ATM withdrawal that indicate the use of ATMs have been most negatively affected by the financial crisis in Spain than in the UK. Moreover, while Spanish banks were still profit making, UK banks were wiping a huge loss on ROA and ROE at the peak of the crisis. Nevertheless, all the way through the 5 year period UK banks almost appear to be back to full health, whereas Spanish banks have gradually started experiencing the intense reverberations of the financial crisis. Indeed, the output results of this study increases banks stakeholders’ knowledge by providing insight into some determinants of payment instrument use by either consumers or business that are somehow linked to the bank's financial operational decisions as well as the stability and sustainability of the cross-countries banks performances.

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Security Enhancement for Magnetic Data Transaction in Electronic Payment and Healthcare Systems

Security Enhancement for Magnetic Data Transaction in Electronic Payment and Healthcare Systems

The “smart” chip systems, in other parts of the world, still use the magnetic stripe as a backup. But the static magnetic stripe based healthcare or payment cards are highly susceptible to physical damage and fraudulent activities, such as identity theft and counterfeit card frauds. In recent years, the card skimming has become increasingly common and cause fraudulent cash withdrawals from automated teller machines (ATM). The fraudulent transactions cause millions to billions of dollars loss to card issuing banks [2]. The fraudulent activity, skimming, commonly takes place at ATM machines, gas pumps, and self-checkout machines at grocery stores. And card skimming scam is being driven by the low-tech nature of static magnetic stripe data on credit or ATM cards.

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Effect of Comparative Study of Payment System between Malaysia and Republic of Tajikistan

Effect of Comparative Study of Payment System between Malaysia and Republic of Tajikistan

With the exception of cash payments, payments between individuals and organizations are settled at some time through the banking system. Here we explain the payment systems in Malaysia which making payments through the banking system and the various instruments for making payments. Nowadays the payment system turned to electronic payment systems In Malaysia. Using the cash, check or other type of payment is very lass observed. The use of electronic payment systems is increasing, and there will be a decline in the use of cash and check (CBN, 2014). Another notable achievement in the country‟s payment system infrastructure is in the migration from magnetic stripe payment cards to chip payment cards, where Malaysia was the first country in the Asia Pacific region to do so (Central, 2013). All businesses and individuals in Malaysia need a system for the transfer of money, so that they can pay for goods and services, as well as transfer money to other people. The payment system has been defined by the Bank for International Settlements as follow: "The payment system consists of instruments, banking procedures and, typically, interbank funds transfer systems that ensure and facilitate the circulation of money In fact, it makes it easier to corporations, businesses and consumers to transfer money to each other (CBN, 2014).

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Easykey   Multipurpose RFID Card based IoT System

Easykey Multipurpose RFID Card based IoT System

Our project EasyKey proposes the use of a single RFID (Radio Frequency Identification Reader) card to perform the operations of Authentication and Payment cards. This is how the EasyKey card can be used- when the user visits a store he/she can make payments using the card, when the user visits a hospital he/she can register using the same RFID card all the operations must go through the mobile device for authentication. The authentication will be two factor authentication for privacy and security purposes.

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Use of Electronic Payment Instruments and Effect on Cash Management: A Micro Analysis

Use of Electronic Payment Instruments and Effect on Cash Management: A Micro Analysis

(c) The Pattern of usage of Debit and Credit Cards among Respondents: Boeschoten (1998) explained payment behaviour of households and demonstrated the importance of transaction size on the adoption of the payment instrument. The current study analysed the choice of payment instrument among the respondents based on the volume of the transactions of the respondent. Table 6 summarises the choice of payment instrument based on the value of the transaction amount. The study considered a respondent as an electronic money user if they made payment by electronic money for at least one of the options. The estimated results reveal that across the ranges of the transaction whose values were lesser than ` 10,000, more than 50 per cent of the respondents used “cash” for payment, indicating preference of “cash” frequently for low-value transactions.

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Abstract Smart Cards are one of the latest applications

Abstract Smart Cards are one of the latest applications

Diners Club was the first to introduce all plastic cards for payment applications. Till 1950 the cards in use were paper based cards and during early 1950 Diners Club introduced PVC based cards for longer life. The card became very popular as one could pay with it at select restaurants. What really appealed to the customers is convenience, there was no need to carry the money and it also identified them with an elite group in the society. VISA and MasterCard entered the market. These cards were prone to fraud, tampering. Soon the realization came that the solution to these problems may lie in development of machine readable cards. That led to the introduction of Magnetic stripe card, which permitted storage of data on it in a machine readable format. Magnetic stripe card is a major weakness and that is anyone with access to appropriate device could read, re- write and delete data. Thus, magnetic card was not secure enough for sensitive data and also needed complex back end infrastructure for verification, The necessary back end information was available in US but not in Europe. So Europe solved this problem by transferring some of the back end work to an Integrated Circuit Card (ICC) on the client side of client/server architecture. First ICC patent was registered by German inventors Jurgen Dethoff and Helmet Gotrupp during 1968. Japan developed its card in 1970 and France 1974. Initial commercial applications of this card were as telephone cards. With developments in cryptography, France introduced the first chip incorporated banking card in 1984. Germans followed suit in 1997 and they also issued 70 million Smart cards with insurance information. Magnetic stripe cards could store 1000 bits of data, whereas Integrated Circuit Cards came to be known as Smart Cards could store up to 20 Kilo Bytes of data, cards fall into the last category, where the transactions are carried out with the understanding that the payment would be made sometime in the future. The credit cards account for one third of all sales in US, Europe and Australia.

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PAY-OFF SYSTEM IN E-ZPASS USING RFID TECHNOLOGY Lavanya K 1, Mangayarkarasi S2

PAY-OFF SYSTEM IN E-ZPASS USING RFID TECHNOLOGY Lavanya K 1, Mangayarkarasi S2

RFID has a broad range of possible applications in transport area is necessary. More availability of RFID handsets/devices will be significant in gaining the user attraction. Business structure need to connect many stakeholders who need to be involved in developing an RFID payment system and can bring together information, payment and location through the means of the RFID card and reader attached. With the deployment of RFID, toll gate payment can be done in a easier and smart way and will obviously lead to a good travel experience for passengers.

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Mobile Wallet: An upcoming mode of business transactions

Mobile Wallet: An upcoming mode of business transactions

As new technology supports the extensive popularity and benefits of wallet money, users are attracted to the social and shopping features provided by mobile wallets.The key benefits derived through mobile wallet are convenience and speedy transactions. Mobile wallet service promotes greater flexibility for making secure payments. The convenience of making payments on the go and easy accessibility of this new mode of payment makes it a logical and natural choice for switching to this facility. Furthermore, individuals those who do not have a credit card or a debit card can load their mobile wallets with cash through their nearest recharge kiosk.

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Swot Analysis of Cashless Economy in Current Scenario

Swot Analysis of Cashless Economy in Current Scenario

Cashless transactions are poised to change the future of work. In this study, it is clear about analysis of digital evolutions yields several implications for both public and private sector leaders as they explore ways to enhance the state of the cashless economies across the world. More digital innovators should recognise that public policy in essential to the success of the cashless economy. India can take the lead in creating such “smart” digitally enabled eco systems with more reliable, secured payment gate which will create an impact on common man to use cashless transaction.

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Plastic Money Security Issues in India

Plastic Money Security Issues in India

Indian customs require the cash money. In case of stolen cards, cardholders are aware about the loss however in an application fraud, the cardholders are unaware until the misuse of the cards by the forger, cards can be hoarded by the forger for a long time and it is quite difficult to identify the source, in that case cardholder has only the option to mitigate risk of fraud is the regular checking of the account balances. Even some of card holders complained for unauthorized use of their cards. In a report it was found by National Payment Council of India (NCPI) that a malware had crept up into the servers of HDFC, SBI, YES bank, Axis Bank, ICICI and effected more than 32 lakhs credit card which have mostly been issued by Visa and Mastercard, with few RuPay cards 11 . It is further claimed by the

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TO STUDY THE PERCEPTION OF DIGITAL BUYER’S REASON FOR HESITATION AND SLOW-ADAPTATION OF UNIFIED PAYMENT INTERFACES

TO STUDY THE PERCEPTION OF DIGITAL BUYER’S REASON FOR HESITATION AND SLOW-ADAPTATION OF UNIFIED PAYMENT INTERFACES

UPI aims to boost the concept of Digital India by incorporating digitization in the financial sector; however, it also has certain limitations. Operating of mobile phone is the basic challenge in Mobile Banking. Though majority of Indian population uses Smart phones, there remains a substantial amount of the population those who use feature phones, especially in the villages or in the rural areas. Also, mobile compatibility is considered another major issue with the mobile banking which lowers the speed of online transactions. Security is considered to be the major concerns in mobile banking. Since now in UPI, a customer does not have to give his personal credentials like account details, it increases high risk for possibility of fraud. Smart phones still remain the most preferred targets of the hackers or cyber-criminals. Connectivity being a crucial role in mobile banking transactions banks needs to scale up their infrastructure for handling growth of the customer base. UPI will be the future of the banking industry in India with more emphasis on next generation digital payments that are gaining preference among the customers. Digital India initiative will further fuel the growth of digital payment platforms such as UPI by boosting the growth of mobile banking.

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Latent Predictor Networks for Code Generation

Latent Predictor Networks for Code Generation

Retrieval Baseline It was reported in (Quirk et al., 2015) that a simple retrieval method that out- puts the most similar input for each sample, mea- sured using Levenshtein Distance, leads to good results. We implement this baseline by computing the average Levenshtein Distance for each input field. This baseline is denoted “Retrieval”. Evaluation A typical metric is to compute the accuracy of whether the generated code exactly matches the reference code. This is informative as it gives an intuition of how many samples can be used without further human post-editing. How- ever, it does not provide an illustration on the de- gree of closeness to achieving the correct code. Thus, we also test using BLEU-4 (Papineni et al., 2002) at the token level. There are clearly problems with these metrics. For instance, source code can be correct without matching the refer- ence. The code in Figure 2, could have also been implemented by calling the draw function in an cycle that exists once both players have the same number of cards in their hands. Some tasks, such as the generation of queries (Zelle and Mooney, 1996), have overcome this problem by executing the query and checking if the result is the same as the annotation. However, we shall leave the study of these methologies for future work, as adapting these methods for our tasks is not triv-

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A Study on Electronic Payment Systems in India

A Study on Electronic Payment Systems in India

iii) Plastic Money: Plastic money means debit cards and credit cards that are used at ATM’s for cash withdrawal and POS machines while shopping. Having a debit or credit cards make you burden free from carrying cash. Also risk of theft goes down to zero as it needs a PIN carry out transactions. You don’t need to carry huge amount of cash with you. Just swipe and go. Debit card payments are made through bank account.

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Comprehension of Reliability of Internet Connectivity and clients' Inclination towards Intention to Use EFT/PoS has been Analysed by the Technology Acceptance Model on Plastic Money on Indian aspect

Comprehension of Reliability of Internet Connectivity and clients' Inclination towards Intention to Use EFT/PoS has been Analysed by the Technology Acceptance Model on Plastic Money on Indian aspect

Sooner or later amidst seasonal shopping, the vast majority of us will plunge into our wallets, assume out a praise or platinum card and make a buy. Commonly, we leave the shopping centre or put down our tablets and telephones having spent more cash than we planned. We're moving into a reality where we hold less money and are progressively open to utilizing cards and electronic instalment techniques. Before plunging into the potential impacts this could have, I'd like to point to an axiom by famous speculator Julius Weintraub: "The person who designed betting was splendid, yet the person who created the chip was a virtuoso". The chip changes the type of your money, physically as well as allegorically, as well. It can make you legitimize going for broke. It can make a reason so the $25 that was in your

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A Proposal for Global Change Education based on an educational board game: A Planet on the Abyss

A Proposal for Global Change Education based on an educational board game: A Planet on the Abyss

The game has two packs of cards, one for conservation and one for impacts (Figure 2). Each impact card explains how global change affects a given ecosystem, and implies that the ecosystem tile has to be turned around towards the side affected by the global change. The conservation cards consist of 7 Species cards, 4 Habitat Protection cards, 3 Escaping by Spaceship cards, and 5 Ecologist cards. (Figure 2) The Ecologist cards ask questions or pose challenges regarding global change that the students have to resolve by working together. The questions or challenges set out in the ecology cards require reflective work from the students. We have included 10 Ecologist cards: 2 cards for each component of Global Change. The cards to draw in each turn are 2 from conservation pack and 3 or 1 from impact impacts pack (if the players answer to the Ecologist card is correct, they draw 1, but if the answer is wrong, they draw 3). An endangered species can be saved if a player obtains 4 cards for that species and they are located in the ecosystem where the species lives (Figure 3). The game has a risk marker, which shows the degree of harm caused by of global change (Figure 1). The risk increases whenever a player receives an Ecologist card. When the players reach the top of risk marker and they haven't been able to save all endangered species, they lose.

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Role of Payment Banks in Digital Payments - A Case Study of Paytm

Role of Payment Banks in Digital Payments - A Case Study of Paytm

Paytm, claims around 260 million users and MobiKwik, 60 million. While India's largest bank, State Bank of India has 195 million customers, Paytm claims around 7 million daily transactions and MobiKwik about 3 million. There are enough apps and platforms that help pay digitally — UPI, BHIM, Aadhaar Pay, Paytm, MobiKwik, HDFC Pay Zapp, SBI Buddy, PayU, Tez, besides credit cards and debit cards, but people still seem more comfortable reaching for cash than an app. On October 4, 2017, RBI announced the interoperability of e-wallets of private firms which will be allowed with six months to those compliant with KYC norms. Interoperability helps users of one app to transact with users of a different app. This facility is currently functional under the state-owned Unified Payment Interface (UPI), available only to banks and those e- wallets build on the UPI platform. Recently held 23 rd GST Council meeting on 10 th November

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How do individuals repay their debt? The balance matching heuristic

How do individuals repay their debt? The balance matching heuristic

We formally measure the performance of the balance matching and alternative models using three standard measures of goodness-of-fit: the square root of the mean square error (RMSE), the mean absolute error (MAE), and the correlation between actual and predicted pay- ments (Pearson’s ρ). 39 To help interpret the goodness-of-fit values, we also establish lower and upper benchmarks. For a lower benchmark, we calculate goodness-of-fit under the assumption that the percentage of repayments on the high APR card is randomly drawn from a uniform distribution with support on the 0% to 100% interval. To provide an upper benchmark, we use machine learning techniques to construct a set of purely statistical models of repayment behavior. Specifically, we estimate decision tree, random forest, and extreme gradient boosting models of the percentage of payments allocated to the high APR card. We use the same set of variables which enter into our heuristics (APRs, balances, spending and credit limits on both cards) as input variables and “tune” the models to maximize out-of-sample power using standard methods from machine learning. 40 We use 80% of the data sample as the “training” sample and measure out-of-sample fit on a 20% “hold-out” sample. For consistency, in the analysis that follows, we compare all models using the hold-out sample. Technical details are provided in Appendix A.

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