Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 32119
Evaluation of Electronic Payment Systems Using Fuzzy Multi-Criteria Decision Making Approach

Authors: Gülfem Alptekin, S. Emre Alptekin


Global competitiveness has recently become the biggest concern of both manufacturing and service companies. Electronic commerce, as a key technology enables the firms to reach all the potential consumers from all over the world. In this study, we have presented commonly used electronic payment systems, and then we have shown the evaluation of these systems in respect to different criteria. The payment systems which are included in this research are the credit card, the virtual credit card, the electronic money, the mobile payment, the credit transfer and the debit instruments. We have realized a systematic comparison of these systems in respect to three main criteria: Technical, economical and social. We have conducted a fuzzy multi-criteria decision making procedure to deal with the multi-attribute nature of the problem. The subjectiveness and imprecision of the evaluation process are modeled using triangular fuzzy numbers.

Keywords: Electronic payment systems, fuzzy multi-criteriadecision making, analytical hierarchy process.

Digital Object Identifier (DOI):

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1779


[1] O.E.G. Johnson, Payment systems monetary policy, and the role of the central bank. International Monetary Fund, 1998, Washington, DC.
[2] World Bank, Financial systems and development. World Bank Policy and Research Series No. 15, 1990, Washington, DC.
[3] T. Khiaonarong, "Electronic payment systems development in Thailand", International Journal of Information Management, vol. 20 (1), 2000, pp. 59-72.
[4] H.C. Yu, K.H. Hsia and P.J. Kuob, "Electronic payment systems: an analysis and comparison of types", Technology in Society, vol. 24 (3), 2002, pp. 331-347.
[5] C.H. Yeh, H. Deng and Y.H. Chang, "Fuzzy multicriteria analysis for performance evaluation of bus companies", European Journal of Operational Research, vol.126, 2000, pp. 459 - 473.
[6] M. Zeleny, Multiple Criteria Decision Making. McGraw-Hill, 1982, New York.
[7] M. Zeleny, "Multiple criteria decision making: Eight concepts of optimality", Human Systems Management, vol. 17 (2), pp. 97-107.
[8] L.A. Zadeh, "Outline of a new approach to the analysis of complex system and decision process", IEEE Transactions on Systems Man and Cybernetics, vol. 2, 1973, pp. 28-44.
[9] C.L Hwang and K.S. Yoon, Multiple Attribute Decision Making: Methods and Applications, Springer, 1981, Berlin.