Search results for: payment system

Authors: Huong Nguyen Thi Thanh, Van Mai Thi Khanh

Abstract:

For around the world, payments for environmental services have been implemented since the late 1970s in Europe and North America; then, it was spread to Latin America, Asia, Africa, and finally Oceania in 2008. In Vietnam, payments for environmental services are an interesting issue recently with the forest as the main focus and therefore known as the program on payment for forest environmental services (PFES). PFES was piloted in Lam Dong and Son La in 2008 and has been widely applied in many provinces after 2010. PFES is in the orientation for the socialization of national forest protection in Vietnam and has made great strides in the last decade. By using the primary data and secondary data simultaneously, the paper clarifies two cases of implementing PFES in the Vietnam North Central area with the different mechanisms of payment. In the first case at Phu Loc district (Thua Thien Hue province), PFES is an indirect method by a water supply company via the Forest Protection and Development Fund. In the second one at Phong Nha – Ke Bang National Park (Quang Binh Province), tourism companies are the direct payers to forest owners. The paper describes the PFES implementation process at each site, clarifies the payment mechanism, and models the relationship between stakeholders in PFES implementation. Based on the current status of PFES sites, the paper compares and analyzes the advantages and disadvantages of the two payment methods. Finally, the paper proposes recommendations to improve the existing shortcomings in each payment mechanism.

Keywords: advantages and disadvantages, forest environmental services, forest protection, payment mechanism

Procedia PDF Downloads 98

Authors: Neliswa Dyosi

Abstract:

Purpose - Using an integrated Technology-Organization-Environment (TOE) framework and the model of technology appropriation (MTA) as a theoretical lens, this interpretive qualitative study seeks to understand and explain the factors that influence the appropriation, non-appropriation, and disappropriation of bitcoin as a payment method by South African retailers. Design/methodology/approach –The study adopts the interpretivist philosophical paradigm. Multiple case studies will be adopted as a research strategy. For data collection, the study follows a qualitative approach. Qualitative data will be collected from the six retailers in various industries. Semi-structured interviews and documents will be used as the data collection techniques. Purposive and snowballing sampling techniques will be used to identify participants within the organizations. Data will be analyzed using thematic analysis. Originality/value - Using the deduction approach, the study seeks to provide a descriptive and explanatory contribution to theory. The study contributes to theory development by integrating the MTA and TOE frameworks as a means to understand technology adoption behaviors of organizations, in this case, retailers. This is also the first study that looks at an integrated approach of the Technology-Organization-Environment (TOE) framework and the MTA framework to understand the adoption and use of a payment method. South Africa is ranked amongst the top ten countries in the world on cryptocurrency adoption. There is, however, still a dearth of literature on the current state of adoption and usage of bitcoin as a payment method in South Africa. The study will contribute to the existing literature as bitcoin cryptocurrency is gaining popularity as an alternative payment method across the globe.

Keywords: cryptocurrency, bitcoin, payment methods, blockchain, appropriation, online retailers, TOE framework, disappropriation, non-appropriation

Procedia PDF Downloads 108

Authors: Amjaad Alsalamah, Liyakathunsia Syed

Abstract:

Transportation is an essential need for many people to go to their work, school, and home. In particular, the main common method inside many cities is to drive the car. Driving a car can be an easy job to reach the destination and load all stuff in a reasonable time. However, deciding to find a parking lot for a car can take a long time using the traditional system that can issue a paper ticket for each customer. The old system cannot guarantee a parking lot for all customers. Also, payment methods are not always available, and many customers struggled to find their car among a numerous number of cars. As a result, this research focuses on providing an online smart parking system in order to save time and budget. This system provides a flexible management system for both parking owner and customers by receiving all request via the online system and it gets an accurate result for all available parking and its location.

Keywords: smart parking system, IoT, tracking system, process model, cost, time

Procedia PDF Downloads 314

Authors: A. Šapkauskienė, A. Mačerinskienė, R. Andrulienė, R. Bruzgė, S. Masteika, K. Driaunys

Abstract:

The COVID-19 pandemic has affected not only world markets and economies but also the daily lives of customers and their payment habits. The pandemic has accelerated the digital transformation, so the role of technology will become even more important post-COVID. Although the popularity of cryptocurrencies has reached unprecedented heights, there are still obstacles, such as a lack of consumer experience and distrust of these technologies, so exploring the role of cryptocurrency and blockchain in the context of international travel becomes extremely important. Research on tourists’ intentions to use cryptocurrencies for payment purposes is limited due to the small number of research studies. To fill this research gap, an exploratory study based on the analysis of survey data was conducted. The purpose of the research is to explore how the behavior of tourists has changed making their financial transactions when paying for the tourism services in order to determine the intention to pay in cryptocurrencies. Behavioral intention can be examined as a dependent variable that is useful for the study of the acceptance of blockchain as cutting-edge technology. Therefore, this study examines the intention of travelers to use cryptocurrencies in electronic payments for tourism services. Several studies have shown that the intention to accept payments in a cryptocurrency is affected by the perceived usefulness of these payments and the perceived ease of use. The findings deepen our understanding of the readiness of service users to apply for blockchain-based payment in the tourism sector. The tourism industry has to focus not only on the technology but on consumers who can use cryptocurrencies, creating new possibilities and increasing business competitiveness. Based on research results, suggestions are made to guide future research on the use of cryptocurrencies by tourists in the tourism industry. Therefore, in line with the rapid expansion of virtual currency users, market capitalization, and payment in cryptographic currencies, it is necessary to explore the possibilities of implementing a blockchain-based system aiming to promote the use of services in the tourism sector as the most affected by the pandemic.

Keywords: behavioral intention, blockchain-based payment, cryptocurrency, tourism

Procedia PDF Downloads 88

Authors: Mas Pertiwi I. G. AG Istri, Sri Kristinayanti Wayan, Oka Aryawan I. Gede Made

Abstract:

Ability of government to meet the needs of infrastructure investment constrained by the size of the budget commitments for other sectors. Another barrier is the complexity of the process of land acquisition. Public Private Partnership can help bridge the investment gap by including the amount of funding from the private sector, shifted the responsibility of financing, construction of the asset, and the operation and post-project design and care to them. In principle, a construction project implementation always requires the investor as a party to provide resources in the form of funding which it must be contained in a successor agreement in the form of a contract. In general, construction contracts consist of contracts which passed in Indonesia and contract International. One source of funding used in the implementation of construction projects comes from funding that comes from the collaboration between the government and the private sector, for example with the system: BLT (Build Lease Transfer), BOT (Build Operate Transfer), BTO (Build Transfer Operate) and BOO (Build Operate Own). And form of payment under a construction contract can be distinguished several ways: monthly payment, payments based on progress and payment after completed projects (Turn Key). One of the tools used to analyze the feasibility of the investment is to use financial models. The financial model describes the relationship between different variables and assumptions used. From a financial model will be known how the cash flow structure of the project, which includes revenues, expenses, liabilities to creditors and the payment of taxes to the government. Net cash flow generated from the project will be used as a basis for analyzing the feasibility of investment source of project financing Public Private Partnership could come from equity or debt. The proportion of funding according to its source is a comparison of a number of investment funds originating from each source of financing for a total investment cost during the construction period by selected the contract system and several alternative financing percentage ratio determined according to sources will generate cash flow structure that is different. Of the various possibilities for the structure of the cash flow generated will be analyzed by software is to test T Paired to compared the contract system used by various alternatives comparison of financing to determine the effect of the contract system and the comparison of such financing for the feasibility of investment toll road construction project for the economic life of 20 (twenty) years. In this use case studies of toll road contruction project Bali Mandara. And in this analysis only covered two systems contracts, namely Build Operate Transfer and Turn Key. Based on the results obtained by analysis of the variable investment feasibility of the NPV, BCR and IRR between the contract system Build Operate Transfer and contract system Turn Key on the interest rate of 9%, 12% and 15%.

Keywords: contract system, financing, internal rate of return, net present value

Procedia PDF Downloads 206

Authors: Sitti Rahmawati

Abstract:

Payment system of cataract surgery implemented by professional attendant of doctor and nurse has been increasing, through health insurance program and this has become one of the factors that affects a lot of government in the budget establishment. This system has been implemented in purpose of quality and expenditure control, i.e., controlling health overpayment to obtain benefit (moral hazard) by the user of insurance or health service provider. The increasing health cost becomes the main issue that hampers the society to receive required health service in cash payment-system. One of the efforts that should be taken by the government in health payment is by securing health insurance through society's health insurance. The objective of the study is to learn the capability of a patient to pay cataract eye operation for the elders. Method of study sample population in this study was patients who obtain health insurance board card for the society that was started in the first of tri-semester (January-March) 2015 and claimed in Indonesian software-Case Based Group as a purposive sampling of 40 patients. Results of the study show that total unit cost analysis of surgery service unit was obtained $75 for unit cost without AFC and salary of nurse and doctor. The operation tariff that has been implemented today at Anutapura hospitals in eye department is tariff without AFC and the salary of the employee is $80. The operation tariff of the unit cost calculation with double distribution model at $65. Conclusion, the calculation result of actual unit cost that is much greater causes incentive distribution system provided to an ophthalmologist at $37 and nurse at $20 for one operation. The surgery service tariff is still low; consequently, the hospital receives low revenue and the quality of health insurance in eye operation department is relatively low. In purpose of increasing the service quality, it requires adequately high cost to equip medical equipment and increase the number of professional health attendant in serving patients in cataract eye operation at hospital.

Keywords: economic evaluation, cataract operation, health attendant, health insurance system

Procedia PDF Downloads 145

Authors: Yash Goyal, Manish Korde, Juned Siddiqui

Abstract:

Today online education has gained more popularity so that people can easily complete their curriculum on their own time. Virtual learning has been widely used by many educators, especially in higher education institutions due to its benefits to students and faculty. A good knowledge of teaching theory and instructional design systems is required to experience meaningful learning. However, most educational websites are not designed to adapt to all screen sizes. Making the website accessible on all screen sizes is our main objective, so we have created a website that is readily accessible across all screen sizes and accepts all types of payment methods. And we see generally educational websites interface is simple and unexciting. So, we have made a user interface attractive and user friendly. It is not enough for a website to be user-friendly, but also to be familiar to admins and to reduce the workload of the admin as well. We visited so many popular websites under development that they all had issues like responsiveness, simple interface, security measures, payment methods, etc. To overcome this limitation, we have created a website which has taken care of security issues that is why we have created only one admin id and it can be control from that only. And if the user has successfully done the payment, then the admin can send him a username and password through mail individually so there will no fraud in the payment of the course.

Keywords: responsive, accessible, attractive, interface, objective, security.

Procedia PDF Downloads 73

Authors: Helen S. Ghali, Engy Serag, A. Samer Ezeldin

Abstract:

In many countries, the construction industry relies heavily on outsourcing models in executing their projects and expanding their businesses to fit in the diverse market. Such extensive integration of subcontractors is becoming an influential factor in contractor’s cash flow management. Accordingly, subcontractors’ financial terms are important phenomena and pivotal components for the well-being of the contractor’s cash flow. The aim of this research is to study the contractor’s cash flow with respect to the owner and subcontractor’s payment management plans, considering variable advance payment, payment frequency, and lag and retention policies. The model is developed to provide contractors with a decision support tool that can assist in selecting the optimum subcontracting plan to minimize the contractor’s financing limits and optimize the profit values. The model is built using Microsoft Excel VBA coding, and the genetic algorithm is utilized as the optimization tool. Three objective functions are investigated, which are minimizing the highest negative overdraft value, minimizing the net present worth of overdraft, and maximizing the project net profit. The model is validated on a full-scale project which includes both self-performed and subcontracted work packages. The results show potential outputs in optimizing the contractor’s negative cash flow values and, in the meantime, assisting contractors in selecting suitable subcontractors to achieve the objective function.

Keywords: cash flow optimization, payment plan, procurement management, subcontracting plan

Procedia PDF Downloads 89

Authors: Chung-Yuan Wang, Kai-Chun Lee, Min-Hung Wang, Yu-Ren Chen, Hung-Sheng Lin, Sen-Shan Fan

Abstract:

Taiwan National Health Insurance (NHI) was launched in 1995. It is an important social welfare policy in Taiwan. Regardless of the diversified social and economic status, universal coverage of NHI was assured. In order to regain better self-care performance, stroke people received in-patient and out-patient rehabilitation. Though NHI limited the rehabilitation frequency to one per day, the cost of rehabilitation still increased rapidly. Through the intensive rehabilitation during the post-stroke rehabilitation golden period, stroke patients might decrease their disability and shorten the rehabilitation period. Therefore, the aim of this study was to investigate the effect of intensive post-acute stroke rehabilitation in hospital under per diem payment. This study was started from 2014/03/01. The stroke patients who were admitted to our hospital or medical center were indicated to the study. The neurologists would check his modified Rankin Scale (mRS). Only patients with their mRS score between 2 and 4 were included to the study. Patients with unclear consciousness, unstable medical condition, unclear stroke onset date and no willing for 3 weeks in-patient intensive rehabilitation were excluded. After the physiatrist’s systemic evaluation, the subjects received intensive rehabilitation programs. The frequency of rehabilitation was thrice per day. Physical therapy, occupational therapy and speech/swallowing therapy were included in the programs for the needs of the stroke patients. Activity daily life performance (Barthel Index) and functional balance ability (Berg Balance Scale) were used to measure the training effect. During 3/1 to 5/31, thirteen subjects (five male and eight female) were included. Seven subjects were aged below 60. Three subjects were aged over 70. Most of the subjects (seven subjects) received intensive post-stroke rehabilitation for three weeks. Three subjects drop out from the programs and went back home respectively after receiving only 7, 10, and 13 days rehabilitation. Among these 13 subjects, nine of them got improvement in activity daily life performance (Barthel Index score). Ten of them got improvement in functional balance ability (Berg Balance Scale). The intensive post-acute stroke rehabilitation did help stroke patients promote their health in our study. Not only their functional performance improved, but also their self-confidence improved. Furthermore, their family also got better health status. Stroke rehabilitation under per diem payment was noted in long-term care institution in developed countries. Over 95% populations in Taiwan were supported under the Taiwan's National Health Insurance system, but there was no national long-term care insurance system. Most of the stroke patients in Taiwan live with his family and continue their rehabilitation programs from out-patient department. This pilot study revealed the effect of intensive post-acute stroke rehabilitation in hospital under per diem payment. The number of the subjects and the study period were limited. Thus, further study will be needed.

Keywords: rehabilitation, post-acute stroke, per diem payment, NHI

Procedia PDF Downloads 285

Authors: Aqeel Akhtar

Abstract:

One of prevailing modes of finance in emerging Islamic banking system is Murabah’a; a financial transaction in which cost and profit both must be recognized by buyer. Otherwise the transaction would become invalid. In this mainstream, import Murabah’a transaction is divergent in such a way that the cost is not recognized and identified due to execution of import transaction in foreign currency i.e. US Dollar and the next transaction of Murabaha’a with the client is executed in local currency. Since this transaction is executed in dual currency i.e. bank pays supplier in foreign currency and executes Murabah’a with its client in local currency and it is not allowed in according to Islamic Injunctions as mentioned in hadith narrated by Hazrat Ibn-e-Umar (May Allah be pleased with them) used to sell his camels with Dirhams and take dinars instead and vice versa. Upon revealing before the Prophet (SAW), he was advised that it must not be contingent in the agreement and the ready rate would be applied and possession of one of the consideration is compulsory. The solution in this regard is that the import Murabah’a transaction should be in single currency, however, other currency can be paid in payment at the time of payment in a very indispensable situation provided that ready rate would be applied. Moreover, some of other solutions have also been given in this regard.

Keywords: shariah compliance, import murabaha, islamic banking, product development

Procedia PDF Downloads 216

Authors: Ossama Al-Maliki

Abstract:

Europay, MasterCard, and Visa (EMV) is one of the most popular payment protocol in the world. The EMV protocol supports Chip and PIN Transactions, Chip and Signature transactions, and Contactless transactions. This protocol suffers from tens of £ millions of lost per year due to many fraudulent payments. This is due to several reported vulnerable points in the protocols used for such payments that allow skimming, replay, cloning, Mole Point of Sale (POS), relay, and other attacks to be conducted. In this paper, we are focusing on the EMV contactless specification and we have proposed two proposal solutions to the addition of a localization factor to enhance the payment authentication of such transactions designed to prevent relay, cloning, and Mole-POS attacks. Our proposed solution is a back-end localization scheme to help the Issuer-Bank compare the location of the genuine cardholder in relation to the used POS. Our scheme uses 'something you have' which is the Cardholder Smartphone (CSP) to provide the location of the cardholder at the time of the transaction and without impacting the contactless payment time/protocol. The Issuer-bank obtain the CSP Location using tried and tested localization techniques, and independently of the cardholder. Both of our proposal solutions do not require infrastructure changes, and it uses existing EMV/SP protocol messages to communicate our scheme information.

Keywords: NFC, RFID, contactless card, authentication, location, EMV

Procedia PDF Downloads 220

Authors: Chinelle van der Westhuizen

Abstract:

The introduction of cryptocurrencies as an alternative payment system have placed governments in a challenging position in relation to the regulatory status of cryptocurrencies and the money laundering activities associated with it. In April 2018, the Australian government amended its Anti-Money Laundering laws to regulate digital currency exchanges in an attempt to regulate money laundering activities and the introduction of ‘know-your-customer’ policies within the digital currency sector. Part one of this paper explores the use of cryptocurrencies for money laundering purposes and its significance to money launderers. Part two studies the efficacy of the current Australian Anti-Money Laundering laws and whether more can be done on a regulatory level. This paper will, therefore, highlight recent court decisions and legislation in terms of money laundering activities within these alternative payment systems in Australia and the United Kingdom. Part three of the paper will further analyze recent case studies by the Australian Transaction Reports and Analysis Centre and the Office for Professional Body Anti-Money Laundering Supervision in the United Kingdom as the regulatory bodies for money laundering activities. The case studies and research will explore the legal disputes and future regulation concerning the use of cryptocurrencies and money laundering on a national as well as international level. This paper intends to highlight that although cryptocurrency is viewed as an innovative global phenomenon and an alternative method of payment, there are a number of legal issues associated with its use that indicate the need for regulatory reform. It is recommended in this paper that the Financial Action Task Force, International Monetary Fund as well as concerned governments have ongoing discussions on these regulatory issues and how to address it appropriately, whether through legislation or universal guidelines. Therefore, the conclusion of this paper will emphasize the benefits of a regulatory regime for money laundering activities within the cryptocurrency space and that the lack of such a regime may be detrimental to countries.

Keywords: cryptocurrency, know-your-customer policy, money laundering, regulation

Procedia PDF Downloads 131

Authors: Hironori Karachi, Haruka Yamashita

Abstract:

Recently, the system of quick response (QR) code is getting popular. Many companies introduce new QR code payment services and the services are competing with each other to increase the number of users. For increasing the number of users, we should grasp the difference of feature of the demographic information, usage information, and value of users between services. In this study, we conduct an analysis of real-world data provided by Nomura Research Institute including the demographic data of users and information of users’ usages of two services; LINE Pay, and PayPay. For analyzing such data and interpret the feature of them, Nonnegative Matrix Factorization (NMF) is widely used; however, in case of the target data, there is a problem of the missing data. EM-algorithm NMF (EMNMF) to complete unknown values for understanding the feature of the given data presented by matrix shape. Moreover, for comparing the result of the NMF analysis of two matrices, there is Discriminant NMF (DNMF) shows the difference of users features between two matrices. In this study, we combine EMNMF and DNMF and also analyze the target data. As the interpretation, we show the difference of the features of users between LINE Pay and Paypay.

Keywords: data science, non-negative matrix factorization, missing data, quality of services

Procedia PDF Downloads 100

Authors: Shari S. C. Shang, Lynn S. L. Chiu

Abstract:

In the digital payment market, some consumers use only one payment wallet while many others play multi-homing with a variety of payment services. With the diffusion of new payment systems, we examined the determinants of the adoption of multi-homing behavior. This study aims to understand how a digital payment provider dynamically expands business touch points with cross-business strategies to enrich the digital ecosystem and avoid the trap of multi-homing in customers. By synthesizing platform ecosystem literature, we constructed a two-dimensional research framework with one determinant of user digital behavior from offline to online intentions and the other determinant of digital payment touch points from convenient accessibility to cross-business platforms. To explore on a broader scale, we selected 12 digital payments from 5 countries of UK, US, Japan, Korea, and Taiwan. With the interplays of user digital behaviors and payment touch points, we group the study cases into four types: (1) Channel Initiated: users originated from retailers with high access to in-store shopping with face-to-face guidance for payment adoption. Providers offer rewards for customer loyalty and secure the retailer’s efficient cash flow management. (2) Social Media Dependent: users usually are digital natives with high access to social media or the internet who shop and pay digitally. Providers might not own physical or online shops but are licensed to aggregate money flows through virtual ecosystems. (3) Early Life Engagement: digital banks race to capture the next generation from popularity to profitability. This type of payment aimed to give children a taste of financial freedom while letting parents track their spending. Providers are to capitalize on the digital payment and e-commerce boom and hold on to new customers into adulthood. (4) Traditional Banking: plastic credit cards are purposely designed as a control group to track the evolvement of business strategies in digital payments. Traditional credit card users may follow the bank’s digital strategy to land on different types of digital wallets or mostly keep using plastic credit cards. This research analyzed business growth models and inter-firms’ coopetition strategies of the selected cases. Results of the multiple case analysis reveal that channel initiated payments bundled rewards with retailer’s business discount for recurring purchases. They also extended other financial services, such as insurance, to fulfill customers’ new demands. Contrastively, social media dependent payments developed new usages and new value creation, such as P2P money transfer through network effects among the virtual social ties, while early life engagements offer virtual banking products to children who are digital natives but overlooked by incumbents. It has disrupted the banking business domains in preparation for the metaverse economy. Lastly, the control group of traditional plastic credit cards has gradually converted to a BaaS (banking as a service) model depending on customers’ preferences. The multi-homing behavior is not avoidable in digital payment competitions. Payment providers may encounter multiple waves of a multi-homing threat after a short period of success. A dynamic cross-business collaboration strategy should be explored to continuously evolve the digital ecosystems and allow users for a broader shopping experience and continual usage.

Keywords: digital payment, digital ecosystems, multihoming users, cross business strategy, user digital behavior intentions

Procedia PDF Downloads 121

Authors: Paramita Nur Kurniati, Stanislaus Riyanta

Abstract:

In the midst of the heightened usage of electronic money (e-money), Indonesian government expenditure is yet governed through cash-basis transactions. This conventional system brings about a number of potential risks and obstacles to operational conduct, including state financial liquidity issue. Consequently, Ministry of Finance is currently establishing the cashless payment methods for State Budget (APBN). Included in those advance methods is credit card facility as a government expenditure payment scheme. This policy is one of the innovations within the public sector learned from other countries’ best practices. Moreover, this particular method is already prominent within the private-sector realm. Qualitative descriptive analysis technique is implemented to evaluate the contemporary innovation of using government credit card in the path towards cashless society. This approach is expected to generate several benefits for the government, particularly in minimizing corruption within the state financial management. Effective coordination among policy makers and policy implementers is essential for the success of this policy’s exercise, without neglecting prudence and public transparency aspects. Government credit card usage shall be the potent resolution for enhancing the government’s overall public service performance.

Keywords: cashless basis, cashless society, government credit card, public sector innovation

Procedia PDF Downloads 127

Authors: Umar Shehu Umar

Abstract:

Contract farming is a viable strategy agribusinesses rely on to strengthen vertical coordination. However, low contract compliance remains a significant setback to agribusinesses' contract performance. The present study aims to understand what drives smallholder farmers’ contract compliance behaviour. Qualitative information was collected through Focus Group Discussions to enrich the design of the survey questionnaire administered on a sample of 300 randomly selected farmers contracted by the Dangote Tomato Processing Plant (DTPP) in four regions of northern Nigeria. Novel transaction level data of tomato sales covering one season were collected in addition to socio-economic information of the sampled farmers. Binary logistic model results revealed that open fresh market tomato prices and payment delays negatively affect farmers' compliance behaviour while quantity harvested, education level and input provision correlated positively with compliance. The study suggests that contract compliance will increase if contracting firms devise a reliable and timely payment plan (e.g., digital payment), continue input and service provisions (e.g., improved seeds, extension services) and incentives (e.g., loyalty rewards, bonuses) in the contract.

Keywords: contract farming, compliance, farmers and processors., smallholder

Procedia PDF Downloads 28

Authors: Dishant Kothari, Pankaj Gaur, Priyanshu Sharma, Ratnesh Litoriya, Sachin Solanki, Shimpy Goyal

Abstract:

Web based Conference Management System comprises of all the processes needed for round table conference, research paper publication includes the phases-call for paper, paper submission, paper review, acknowledgement to the author, paper acceptance and payment for publication. It will also help colleges and universities to conduct conferences for research, thus spreading awareness and will contribute to the overall development of students. Web based Conference Management System will streamline the procedure for paper publication by reducing the time and efforts needed in physical (offline mode) submission. A conference can be organized from anywhere and anytime. Authors can easily trace the status of the paper, and the program committee can review them anywhere and provide necessary comments to it.

Keywords: peer review, paper publication, author, chair, reviewer, virtualization, new normal

Procedia PDF Downloads 105

Authors: Elizabeth Spink

Abstract:

Providing safe and affordable drinking water to low-income households in developing countries remains a challenge. Policy goals of increasing household piped-water access and cost recovery for utility providers are often at odds. Nonpayment of utility bills is frequently cited as a constraint to improving the quality of utility service. However, nonpayment is widely tolerated, and households often accumulate significant debt to the utility provider. This study examines the effect of enforcement of water bill payment through supply disconnections in Livingstone, Zambia. This research uses a dynamic model of household monthly payments and accumulation of arrears, which determine the probability of disconnection, and simulates the effect of exogenous changes in enforcement levels. This model is empirically tested using an event-study framework of exogenous increases in enforcement capacity that occur during administrative rezoning events, which reduce the number of households that one enforcement agent is responsible for. The results show that households are five percentage points more likely to make a payment in the months following a rezoning event, but disconnections for low-income households increase as well, resulting in little change in revenue collected by the water utility. The results suggest that high enforcement of water bill payments toward credit-constrained households may be ineffective and lead to reduced piped-water access.

Keywords: enforcement, nonpayment, piped-water access, water utilities

Procedia PDF Downloads 204

Authors: Anshar Ajatasatru

Abstract:

The decline of coal prices over past years have been significantly increasing the awareness of effective mining operation. A viable step must be undertaken in becoming more cost competitive while striving for best mining practice especially at Melak Coal Mine in East Kalimantan, Indonesia. This paper aims to show how effective dozer push measurement method can be implemented as it is controlled by contract rate on the unit basis of USD ($) per bcm. The method emerges from an idea of daily dozer push activity that continually shifts the overburden until final target design by mine planning. Volume calculation is then performed by calculating volume of each time overburden is removed within determined distance using cut and fill method from a high precision GNSS system which is applied into dozer as a guidance to ensure the optimum result of overburden removal. Accumulation of daily to weekly dozer push volume is found 95 bcm which is multiplied by average sell rate of $ 0,95, thus the amount monthly revenue is $ 90,25. Furthermore, the payment mechanism is then based on push distance and push grade. The push distance interval will determine the rates that vary from $ 0,9 - $ 2,69 per bcm and are influenced by certain push slope grade from -25% until +25%. The amount payable rates for dozer push operation shall be specifically following currency adjustment and is to be added to the monthly overburden volume claim, therefore, the sell rate of overburden volume per bcm may fluctuate depends on the real time exchange rate of Jakarta Interbank Spot Dollar Rate (JISDOR). The result indicates that dozer push measurement can be one of the surface mining alternative since it has enabled to refine method of work, operating cost and productivity improvement apart from exposing risk of low rented equipment performance. In addition, payment mechanism of contract rate by dozer push operation scheduling will ultimately deliver clients by almost 45% cost reduction in the form of low and consistent cost.

Keywords: contract rate, cut-fill method, dozer push, overburden volume

Procedia PDF Downloads 289

Authors: Babak Mirbaha, Mahmoud Saffarzadeh, Fatemeh Mohajeri

Abstract:

Road traffic accidents lead to a higher rate of death and injury, especially in vulnerable road users such as pedestrians. Improving the safety of facilities for pedestrians is a major concern for policymakers because of the high number of pedestrian fatalities and direct and indirect costs which are imposed to the society. This study focuses on the idea of determining the willingness to pay of pedestrians for increasing their safety while crossing the street. In this study, three different scenarios including crossing the street with zebra crossing facilities, crossing the street with zebra crossing facilities and installing a pedestrian traffic light and constructing a pedestrian bridge with escalator are presented. The research was conducted based on stated preferences method. The required data were collected from a questionnaire that consisted of three parts: pedestrian’s demographic characteristics, travel characteristics and scenarios. Four different payment amounts are presented for each scenario and a logit model has been built for each proposed payment. The results show that sex, age, education, average household income and individual salary have significant effect on choosing a scenario. Among the policies that have been mentioned through the questionnaire scenarios, the scenario of crossing the street with zebra crossing facilities and installing a traffic lights is the most frequent, with willingness to pay 10,000 Rials and the scenario of crossing the street with a zebra crossing with a willingness to pay 100,000 Rials having the least frequency. For all scenarios, as the payment is increasing, the willingness to pay decreases.

Keywords: pedestrians, willingness to pay, safety, immunization

Procedia PDF Downloads 131

Authors: Ladaporn Pithuk

Abstract:

The purposes of the study were to ascertain the customer requirement, to identify the factors related to online business in Thailand. The sample of this study consisted of 400 customers who are purchasing product and service on E-commerce. To get primary sources, a questionnaire consisting of 31 questions was designed and adapted from previous studies. The data from the questionnaires were collected and analyzed in descriptive forms and (ONE-WAY ANOVA) was conducted. The majority of the respondents showed customer requirement by stating “moderately agree” for questions asking them about customization, connection, content, commerce, context, communication and community, however, they also displayed negative attitudes by identifying “moderately disagree” for security concerns and after-sales services. These important issues need to be improved immediately since it can encourage customers to buy goods and services through the Internet or discourage them, and businesses should offer more channels of payment methods for customers for instance, e-payment.

Keywords: customer requirement, customization, connection, online business

Procedia PDF Downloads 178

Authors: Mukhammad Fatkhullah, Ayla Karina Budita, Cut Rizka Al Usrah, Kanita Khoirun Nisa, Muhammad Alhada Fuadilah Habib, Siti Muslihatul Mukaromah

Abstract:

Batik industry has become one of the leading industries in the economy of Indonesia. Since the recognition of batik as one of cultural wealth and national identity of Indonesia by UNESCO, batik production keeps increasing as a result of increasing demands for batik, whether from domestically or abroad. One of the rapid development batik industries in Indonesia is batik industry in Lawean Village, Solo, Central Java, Indonesia. This batik industry generally uses putting-out system where batik workers work in their own houses. With the implementation of this system, therefore employers don’t have to prepare Environmental Impact Analysis (EIA), social security for workers, overtime payment, space for working, and equipment for working. The implementation of putting-out system causes many problems, starting from environmental pollution, the loss of social rights of workers, and even exploitation of workers by batik entrepreneurs. The data used to describe this reality is the primary data from qualitative research with in-depth interview data collection technique. Informants were determined purposively. The theory used to perform data interpretation is the phenomenology of Alfred Schutz. Both qualitative and phenomenology are used in this study to describe batik workers exploitation in terms of the implementation of putting-out system on home batik industry in Lawean. The research result showed that workers in batik industry sector in Lawean were exploited with the implementation of putting-out system. The workers were strictly employed by the entrepreneurs, so that their job cannot be called 'part-time' job anymore. In terms of labor and time, the workers often work more than 12 hours per day and they often work overtime without receiving any overtime payment. In terms of work safety, the workers often have contact with chemical substances contained in batik making materials without using any protection, such as clothes work, which is worsened by the lack of standard or procedure in work that can cause physical damage, such as burnt and peeled off skin. Moreover, exposure and contamination of chemical materials make the workers and their families vulnerable to various diseases. Meanwhile, batik entrepreneurs did not give any social security (including health cost aid). Besides that, the researchers found that batik industry in home industry sector is not environmentally friendly, even damaging ecosystem because industrial waste disposed without EIA.

Keywords: exploitation, home batik industry, occupational health and safety, putting-out system

Procedia PDF Downloads 293

Authors: T. Elrazaz

Abstract:

This paper examines accrual and real earnings management by publicly listed targets around mergers and acquisitions. Prior literature shows that earnings management around mergers and acquisitions can have a significant economic impact because of the associated wealth transfers among stakeholders. More importantly, acting on behalf of their shareholders or pursuing their self-interests, managers of both targets and acquirers may be equally motivated to manipulate earnings prior to an acquisition to generate higher gains for their shareholders or themselves. Building on the grounds of information asymmetry, agency conflicts, stewardship theory, and the revelation principle, this study addresses the question of whether takeover targets employ accrual and real earnings management in the periods prior to the announcement of Mergers and Acquisitions (M&A). Additionally, this study examines whether acquirers are able to detect targets’ earnings management, and in response, adjust the acquisition premium paid in order not to face the risk of overpayment. This study uses an aggregate accruals approach in estimating accrual earnings management as proxied by estimated abnormal accruals. Additionally, real earnings management is proxied for by employing widely used models in accounting and finance literature. The results of this study indicate that takeover targets manipulate their earnings using accruals in the second year with an earnings release prior to the announcement of the M&A. Moreover, in partitioning the sample of targets according to the method of payment used in the deal, the results are restricted only to targets of stock-financed deals. These results are consistent with the argument that targets of cash-only or mixed-payment deals do not have the same strong motivations to manage their earnings as their stock-financed deals counterparts do additionally supporting the findings of prior studies that the method of payment in takeovers is value relevant. The findings of this study also indicate that takeover targets manipulate earnings upwards through cutting discretionary expenses the year prior to the acquisition while they do not do so by manipulating sales or production costs. Moreover, in partitioning the sample of targets according to the method of payment used in the deal, the results are restricted only to targets of stock-financed deals, providing further robustness to the results derived under the accrual-based models. Finally, this study finds evidence suggesting that acquirers are fully aware of the accrual-based techniques employed by takeover targets and can unveil such manipulation practices. These results are robust to alternative accrual and real earnings management proxies, as well as controlling for the method of payment in the deal.

Keywords: accrual earnings management, acquisition premium, real earnings management, takeover targets

Procedia PDF Downloads 93

Authors: Shu-Han Hsu, Jiho Yoon, Chwen Sheu

Abstract:

With the rapidly growing of blockchain technology and cryptocurrency, various industries which include tourism has added in cryptocurrency as the payment method of their transaction. More and more tourism companies accept payments in digital currency for flights, hotel reservations, transportation, and more. For travellers and tourists, using cryptocurrency as a payment method has become a way to circumvent costs and prevent risks. Understanding volatility dynamics and interdependencies between standard currency and cryptocurrency is important for appropriate financial risk management to assist policy-makers and investors in marking more informed decisions. The purpose of this paper has been to understand and explain the risk spillover effects between six major cryptocurrencies and the top ten most traded standard currencies. Using data for the daily closing price of cryptocurrencies and currency exchange rates from 7 August 2015 to 10 December 2019, with 1,133 observations. The diagonal BEKK model was used to analyze the co-volatility spillover effects between cryptocurrency returns and exchange rate returns, which are measures of how the shocks to returns in different assets affect each other’s subsequent volatility. The empirical results show there are co-volatility spillover effects between the cryptocurrency returns and GBP/USD, CNY/USD and MXN/USD exchange rate returns. Therefore, currencies (British Pound, Chinese Yuan and Mexican Peso) and cryptocurrencies (Bitcoin, Ethereum, Ripple, Tether, Litecoin and Stellar) are suitable for constructing a financial portfolio from an optimal risk management perspective and also for dynamic hedging purposes.

Keywords: blockchain, co-volatility effects, cryptocurrencies, diagonal BEKK model, exchange rates, risk spillovers

Procedia PDF Downloads 117

Authors: Nino Pailodze, Malkhaz Sulashvili, Vladimer Kekenadze, Tea Khutsishvili, Irma Makharashvili, Aleksandre Kekenadze

Abstract:

In the nearest future among the important problems which Georgia has solve the most important is economic stability, that bases on fiscal policy and the proper definition of the its directions. The main source of the Budget revenue is the national income. The State uses taxes, loans and emission in order to create national income, were the principal weapon are taxes. As well as fiscal function of the fulfillment of the budget, tax systems successfully implement economic and social development and the regulatory functions of foreign economic relations. A tax is a mandatory, unconditional monetary payment to the budget made by a taxpayer in accordance with this Code, based on the necessary, nonequivalent and gratuitous character of the payment. Taxes shall be national and local. National taxes shall be the taxes provided for under this Code, the payment of which is mandatory across the whole territory of Georgia. Local taxes shall be the taxes provided for under this Code, introduced by normative acts of local self-government representative authorities (within marginal rates), the payment of which is mandatory within the territory of the relevant self-governing unit. National taxes have the leading role in tax systems, but also the local taxes have an importance role in tax systems. Exactly in the means of local taxes, the most part of the budget is formatted. National taxes shall be: income tax, profit tax, value added tax (VAT), excise tax, import duty, property tax shall be a local tax The property tax is one of the significant taxes in Georgia. The paper deals with the taxation mechanism that has been operated in Georgia. The above mention has the great influence in financial accounting. While comparing foreign legislation towards Georgian legislation we discuss the opportunity of using their experience. Also, we suggested recommendations in order to improve the tax system in financial accounting. In addition to accounting, which is regulated according the International Accounting Standards we have tax accounting, which is regulated by the Tax Code, various legal orders / regulations of the Minister of Finance. The rules are controlled by the tax authority, Revenue Service. The tax burden from the tax values are directly related to expenditures of the state from the emergence of the first day. Fiscal policy of the state is as well as expenditure of the state and decisions of taxation. In order to get the best and the most effective mobilization of funds, Government’s primary task is to decide the kind of taxation rules. Tax function is to reveal the substance of the act. Taxes have the following functions: distribution or the fiscal function; Control and regulatory functions. Foreign tax systems evolved in the different economic, political and social conditions influence. The tax systems differ greatly from each other: taxes, their structure, typing means, rates, the different levels of fiscal authority, the tax base, the tax sphere of action, the tax breaks.

Keywords: international accounting standards, financial accounting, tax systems, financial obligations

Procedia PDF Downloads 218

Authors: Sthembile Mthethwa

Abstract:

With the rise in the usage of internet in the past decades, this presented an opportunity for users to transact with each other over the use of internet. Cryptocurrencies have been introduced, which allows users to transact with each other without the involvement of a third party i.e. the bank. These systems are widely known as cryptocurrencies or digital currencies and the first system to be introduced was Bitcoin which has been receiving a lot of attention. Bitcoin introduced a new technology known as the blockchain technology. In the past years, blockchain has been getting attention; whereby new applications are introduced that utilize blockchain. Yet, most people are still hesitant about the adoption of blockchain and the adoption of cryptocurrencies at large. Some people still do not understand the technology. Thus, it leads to the slow adoption of this technology. In this paper, a review of the blockchain is provided, whereby the different types of blockchain are discussed in details. Details of the things that contribute to the hindrance of the process of adoption are discussed.

Keywords: bitcoin, blockchain, cryptocurrency, payment system

Procedia PDF Downloads 254

Authors: David Broussard

Abstract:

This review article delves into the realm of marine conservation finance, addressing the inadequacies in current financial streams from the private sector and the underutilization of existing financing mechanisms. The study emphasizes the emerging field of “blue finance”, which contributes to economic growth, improved livelihoods, and marine ecosystem health. The financial burden of marine conservation projects typically falls on philanthropists and governments, contrary to the polluter-pays principle. However, the private sector’s increasing commitment to NetZero and growing environmental and social responsibility goals prompts the need for alternative funding sources for marine conservation initiatives like marine protected areas. The article explores the potential of utilizing several financing mechanisms like carbon credits and other forms of payment for ecosystem services in the marine context, providing a solution to the lack of private funding for marine conservation. The methodology employed involves a systematic and quantitative approach, combining traditional review methods and elements of meta-analysis. A comprehensive search of the years 2000 - 2023, using relevant keywords on the Scopus platform, resulted in a review of 252 articles. The temporal evolution of blue finance studies reveals a significant increase in annual articles from 2010 to 2022, with notable peaks in 2011 and 2022. Marine Policy, Ecosystem Services, and Frontiers in Marine Science are prominent journals in this field. While the majority of articles focus on payment for ecosystem services, there is a growing awareness of the need for holistic approaches in conservation finance. Utilizing bibliometric techniques, the article showcases the dominant share of payment for ecosystem services in the literature with a focus on blue carbon. The classification of articles based on various criteria, including financing mechanisms and conservation types, aids in categorizing and understanding the diversity of research objectives and perspectives in this complex field of marine conservation finance.

Keywords: biodiversity offsets, carbon credits, ecosystem services, impact investment, payment for ecosystem services

Procedia PDF Downloads 50

Authors: Ziwei Xu

Abstract:

The increasing emphasis on mobility has driven the application of innovative communication technologies across various industries. In the retail sector, Near Field Communication (NFC) has emerged as a significant and transformative technology, particularly in the payment and retail supermarket sectors. NFC enables new payment methods, such as electronic wallets, and enhances information management in supermarkets, contributing to the growth of the trade. This report presents a comprehensive analysis of NFC technology, focusing on five key aspects. Firstly, it provides an overview of NFC, including its application methods and development history. Additionally, it incorporates Arthur's work on combinatorial evolution to elucidate the emergence and impact of NFC technology, while acknowledging the limitations of the model in analyzing NFC. The report then summarizes the positive influence of NFC on the retail industry along with its associated constraints. Furthermore, it explores the adoption of NFC from both organizational and individual perspectives, employing the Best Predictors of organizational IT adoption and UTAUT2 models, respectively. Finally, the report discusses the potential future replacement of NFC with biometrics technology, highlighting its advantages over NFC and leveraging Arthur's model to investigate its future development prospects.

Keywords: innovation, NFC, industry, biometrics

Procedia PDF Downloads 47

Authors: Reza Yaghoubi, Stuart Locke, Jenny Gibb

Abstract:

This study investigates sources of value in mergers and acquisitions. While much emphasis is put on operating synergies from acquisitions the evidence provided in this study shows that the difference between the WACCs of the combined firm and the merging firms may have a significant role on the value effect of mergers. These findings suggest that changes in the capital structure of the combined firm, compared to capital structures of the acquirer and the target, play a key role in determining the value of an acquisition. Moreover, findings of this study suggest that reducing the cost of capital of the combined firm, compared to the merging firms, is value creating even in the absence of operating synergies. Furthermore, this study shows that the component of value associated with the difference between the WACCs of the combined firm and the acquirer is mainly determined by leverage of the acquiring firm and the method of payment. While cash payment is value creating, high leverage of the acquirer prior to an acquisition can destroy value by raising the cost of capital of the firm. This is especially important to managers when they are planning an acquisition.

Keywords: acquisitions, mergers, synergy, value, WACC

Procedia PDF Downloads 242

Authors: Tomola Obamuyi

Abstract:

The banking system in Nigeria adopted innovative banking, with the aim of enhancing financial inclusion, and making financial services readily and cheaply available to majority of the people, and to contribute to the efficiency of the financial system. Some of the innovative services include: Automatic Teller Machines (ATMs), National Electronic Fund Transfer (NEFT), Point of Sale (PoS), internet (Web) banking, Mobile Money payment (MMO), Real-Time Gross Settlement (RTGS), agent banking, among others. The introduction of these payment systems is expected to increase bank efficiency and customers' satisfaction, culminating in better performance for the commercial banks. However, opinions differ on the possible effects of the various innovative payment systems on the performance of commercial banks in the country. Thus, this study empirically determines how commercial banks use innovation to gain competitive advantage in the specific context of Nigeria's finance and business. The study also analyses the effects of financial innovation on the performance of commercial banks, when different periods of analysis are considered. The study employed secondary data from 2009 to 2018, the period that witnessed aggressive innovation in the financial sector of the country. The Vector Autoregression (VAR) estimation technique forecasts the relative variance of each random innovation to the variables in the VAR, examine the effect of standard deviation shock to one of the innovations on current and future values of the impulse response and determine the causal relationship between the variables (VAR granger causality test). The study also employed the Multi-Criteria Decision Making (MCDM) to rank the innovations and the performance criteria of Return on Assets (ROA) and Return on Equity (ROE). The entropy method of MCDM was used to determine which of the performance criteria better reflect the contributions of the various innovations in the banking sector. On the other hand, the Range of Values (ROV) method was used to rank the contributions of the seven innovations to performance. The analysis was done based on medium term (five years) and long run (ten years) of innovations in the sector. The impulse response function derived from the VAR system indicated that the response of ROA to the values of cheques transaction, values of NEFT transactions, values of POS transactions was positive and significant in the periods of analysis. The paper also confirmed with entropy and range of value that, in the long run, both the CHEQUE and MMO performed best while NEFT was next in performance. The paper concluded that commercial banks would enhance their performance by continuously improving on the services provided through Cheques, National Electronic Fund Transfer and Point of Sale since these instruments have long run effects on their performance. This will increase the confidence of the populace and encourage more usage/patronage of these services. The banking sector will in turn experience better performance which will improve the economy of the country. Keywords: Bank performance, financial innovation, multi-criteria decision making, vector autoregression,

Keywords: Bank performance, financial innovation, multi-criteria decision making, vector autoregression

Procedia PDF Downloads 91