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Статья посвящена рассмотрению особенностей развития национальной платежной системы РФ в современных экономических условиях. Актуальность исследования обусловлена тем, что напряженность внешнеэкономических отношений, введение антироссийских санкций вызвали в 2014 г. перебои в работе зарубежных платежных систем, тем самым остро поставив вопрос формирования и развития отечественной национальной платежной системы. Цель настоящей статьи заключается в исследовании основных тенденций и проблем развития национальной платежной системы России. В ходе работы был проведен анализ объемов и количества переводов денежных средств через платежную систему ЦБ РФ, структура соответствующих платежей. Были исследованы операции с использованием платежных карт. Развитию национальной платежной системы присущи определенные проблемы, в числе которых рост киберпреступлений, слабая конкуренция на рынке платежных услуг, возрастание роли лидеров цифровой трансформации и экосистем и проч., The article is devoted to the consideration of the features of the development of the national payment system of the Russian Federation in modern economic conditions. The relevance of the study is due to the fact that the tension in foreign economic relations, the introduction of anti-Russian sanctions caused interruptions in the operation of foreign payment systems in 2014, thereby sharply raising the issue of the formation and development of the domestic national payment system. The purpose of this article is to study the main trends and problems in the development of the national payment system in Russia. In the course of the work, an analysis was made of the volume and number of money transfers through the payment system of the Central Bank of the Russian Federation, the structure of the corresponding payments. Transactions using payment cards were investigated. The development of the national payment system has certain problems, including the growth of cybercrime, weak competition in the payment services market, the growing role of digital transformation leaders and ecosystems, and so on., Экономика и предпринимательство, Выпуск 3 (152) 2023, Pages 109-113

With the rise of the Islamic State and the corresponding war in Syria, which has caused an international refugee crisis, the combat of terrorism has, again, become a major goal for European authorities. One popular approach to the combat of terrorism is to interrupt the funding of terrorist organisations. Whereas other studies have focused mainly on the implementation of prevention measures, this study investigates terrorist financing methods from the offender’s perspective with a focus on so-called money transfer systems to reveal weaknesses in the regulation of terrorist financing in general and money transfer systems in particular. For this purpose, qualitative interviews with 15 presumed providers of illegal financial services and 15 European compliance experts were conducted. This paper has implications for law enforcement, regulatory authorities, investigators and financial service providers. Innovative measures such as the use of electronic surveillance and expanding the jurisdiction of undercover agents are suggested.

Technological developments have always led to changes in all aspects of our lives. Crypto currency is one of those changes. As a result of those changes, thousands of currencies such as bitcoin, ripple, litecoin and ethereum have evolved and have found a use in business. The present study focuses upon Ripple and tries to explain its effects on banks and business theoretically. It has been stated that the money transfer performed through Ripple is faster and more economical when compared to present systems. Additionally, it has been realised that the present SWIFT system has been influenced by that speed and economy, and therefore taken considerable technologic steps with an effort to improve its system.

This paper aims to examine how knowledge management is associated with perceived organisational innovativeness in global companies operating in Central European country and what role in this relationship is played by organisational environment stimulants – organisational trust, leadership support, training and access to resources, and information and communication technology (ICT). This empirical study used a quantitative approach with the data gathered by questionnaire from global companies functioning in IT service (94) and in money transfer service (109). The findings revealed that knowledge management is significantly associated with perceived organisational innovativeness in the global organisations’ context. Organisational environment stimulants (organisational trust, leadership support, training and access to resources, ICT) were confirmed to have a moderate positive association with perceived organisational innovativeness and mediated the relationship between knowledge management and perceived organisational innovativeness. The findings provide additional insights into the existing research on global companies’ knowledge management and suggest that global organisations aiming to foster their innovativeness through knowledge management should focus on the development of learning capability and orientation at the organisational level, as well as reconsider their level of organisational trust and leadership support perceived by employees. This research contributes to the literature by examining the relationship between knowledge management and perceived organisational innovativeness and looking into organisational environment stimulants’ role in this link in a specific global organisations’ context. Implications for Central European audience: when more and more global IT or financial service providers are looking for options to expand their business across the international borders, Central European countries like Lithuania become an attractive destination. The recommendations derived from the results indicate that leadership in global organisations should strive to create a sense of benevolence and aim to maintain integrity between communication and behaviour, particularly focusing on organisational trust development. Global business organisations’ managers must be able to communicate values and norms in a clear and transparent manner as well as ensure that organisational policies are governed in a coherent way across the offices around the world.

This article examines the impact of remittances on the country's economy and its socio-economic aspects.

Digitization in banking to the cashless society by providing as non-cash transactions. In other hand a result of survey showing the low penetration of internet usage for online money transfer as wrong banking services. This article, has a purpose describe post-usage behavior. The author uses a descriptive design to solve the problem of low penetration of internet users for online money transfers. Today, e-banking services are considered as one of the factors that the customer expressed loyal to the banking services.

Objective: Smallholder farmers’ access to Mobile Phone Based Money Transfer Services in Akatsi North District of Volta Region of Ghana under the Planting for Food and Jobs Programme. Methods: Primary data were collected from 300 farmers in beneficiary districts while secondary data were gathered from literatures and various actors. A multi-stage sampling technique was used in selecting respondents for the study. The first stage involved selecting ten communities that benefited from the planting for food and jobs program in the Akatsi North district, while the second stage considered randomly selecting 30 beneficiary farmers in each community. Obtained data were analyzed using Statistical Package for the Social Sciences and STATA-11 software. Results were presented in the form of descriptive statistics, cross tabulation, and Logit regression model. Results: Majority of respondents (74%) do not use Mobile Phone Based Money Transfer platform for any agricultural transaction. Is only 26% of the respondents that use the mobile money platform for their agribusiness activities. Out of the nine explanatory variables included in the Logit regression model, six of them were significant at p

The paper explores the theoretical aspects of the concept of a “system of funds transfer” and highlights their division into certain types. An analysis of the activity of payment systems in Ukraine was given and the necessity of their development was substantiated. It is determined how the system of money transfer has a positive impact on the economy in general. The advantages and disadvantages of money transfer systems were analyzed and recommendations have been made regarding the application of the main factors that will contribute to the improvement of these systems. All of the above is the purpose of this paper. The results of the conducted research show that now transfers through payment systems are becoming increasingly popular, but market development will depend entirely on several key factors: the development of infrastructure, legislation, and finance. In conclusion, we can say that payment systems play one of the most important roles in the modern economy. They provide economic entities with the opportunity to make payments on liabilities that arise in the course of economic activity, and the rational organization of payment systems contributes to the smooth functioning of the financial sector. Reliable and efficient payment systems are a guarantee of the stable functioning of both the country's banking system and the economy in general.

The study examined the nexus between the financial ratio and book value of shares for Iraqi money transfer companies. The data used was extracted from the financial reports of selected money transfer companies listed on the Iraq Stock Exchange, and a descriptive, correlation and panel least square regression technique were adopted for the analysis. The result revealed that the financial ratio captured by earnings per share (EPS), return on investment (ROI) and return on assets (ROA) were positively related with the book value of shares (BVAL), while debt ratio (DER) was negatively related with BVAL. Also, EPS, ROA, ROI and DER positively influenced BVAL. Thus, the engagement of competent and qualified personnel to manage the assets and investments in order to ensure optimal returns is urgently required. There is also a need for proper issuing of shares by the management of money transfer companies to ensure free access to the stock market.

The objective in this study was to investigate the state of art of Thai citizens and their roles in national security of Thailand. Documentary research was employed in this study. The findings revealed that Thai citizens played a big role as both supporters and objectors for national security of Thailand due to both external and internal changes. As supporters of Thai government’s jurisdiction, good citizens must comply with IT-related laws that allowed Ministry of Digital Economy and Society (MDES) and related authorized agencies that enhanced the level of controlling on data via surface web sites. As objectors, they committed civil disobedience-oriented activities beyond Thai government’s jurisdiction via the application of privacy-based non-governmental cryptocurrency (such as Monero) and web browsers for underground web sites (such as TOR and I2P) for hiding all data of their identities and money transfer. In addition, Thai citizens were also protected by net states as citizen-user in a form of business civil disobedience.

The article discusses in detail a number of problems that banks and their customers constantly face — individuals, when the legislation, for various reasons, is unable to protect the rights and legitimate interests of consumers. In particular, the author examined the problem of bailiffs executing seizure of accounts and deposits of individuals. Another problem is the order process, the implementation procedure of which deprives the citizen of the opportunity to defend his rights due to the lack of information on the procedural actions of the applicant and the judge. The author of the article favored a corresponding change in legislation.

RESUMEN Este artículo expone y analiza la potencial contribución que en Chile hace la nueva Ley de Aportes al financiamiento e implementación de espacios públicos. El trabajo simula el porcentaje de aporte de operaciones privadas de densificación residencial intensiva en quince barrios del Área Metropolitana de Santiago. La mencionada ley constituye un marco para avanzar hacia un desarrollo urbano equilibrado mediante pagos por impactos proporcionales a la densidad. Sin embargo, los resultados demuestran que el porcentaje de aporte es insuficiente para concretar los planes comunales e intercomunales de inversiones. A su vez, su contribución final en cesión de suelo o en dinero responde a variables de localización o superficie predial, porque el avalúo fiscal y la superficie predial tienen mayor incidencia en el aporte que la densidad del edificio residencial. Se demuestra que, al calcular los aportes con la densidad de ocupación, se producen distorsiones respecto de la densidad planificada por los instrumentos de planificación territorial.

Currently, in the European Union, in addition to traditional money transfer systems (bank transfers, Western Union, etc.), informal (alternative) systems have spread. The most famous and widespread is hawala, which originated in South Asia many centuries ago, long before the banking system, and is still the most familiar and convenient mechanism for transferring funds in several regions of North Africa and the Middle East. Hawala operates outside the regulated banking and financial sector primarily through a complex settlement system: there is no actual transfer of funds within this system. In most countries, hawala is not regulated by law and is not subject to government supervision. All these factors contribute to the increased risk of money laundering and terrorist financing (ML/TF risk). The paper examines the key characteristics of hawala, its types, circumstances that caused its spread, the features of the system’s functioning, and overviews the main measures of the European Union aimed at reducing the risk of ML / TF, which are a characteristic of hawala.

Increasing the rate of use of mobile devices and the Internet, as well as the development of new technologies, is rapidly impacting the financial market and electronic payments, in particular. Thus, Romania has become one of the countries in which the users have a lot of variants for managing individual funds, purchasing goods and services through digital channels. Also, we can say that Romania represents at regional level one of the countries with growth potential both due to the size of the market, as well as the innovation potential of entrepreneurs and big companies / financial institutions. The purpose of the present research is to carry out an analysis on electronic payments in Romania, of the way in which fintech applications develop and of the environment in which they operate. To this end, a qualitative research will be carried out by studying the available scientific resources that address the topic of fintech applications, specialized articles that address the topic of electronic payments, as well as the features that fintech applications offer to users. The first part will present an introduction and a statistical analysis of the data regarding fintech applications and market dimensions. Next, the article proposes for research the fintech ecosystem in Romania from the point of view of the Romanian fintech services and a SWOT analysis of the Romanian market will be performed.

Mobile money can reduce the cost of sending remittances as compared with traditional money transfer systems. Despite remittances being a crucial part of the West African economy, mobile money is failing to take off. We use supply and demand data for money transfer services to better understand low mobile money adoption in Niger. Using a modified Becker-DeGroot-Marschak mechanism to elicit willingness to pay, we find that households are willing to pay the cost of sending a transfer via mobile money, with substantial regional variation. This regional variation is correlated with agent density, which suggests that agent infrastructure might be a barrier.

Being the largest blockchain with the capability of running smart contracts, Ethereum has attracted wide attention and its market capitalization has reached 20 billion USD. Ethereum not only supports its cryptocurrency named Ether but also provides a decentralized platform to execute smart contracts in the Ethereum virtual machine. Although Ether's price is approaching 200 USD and nearly 600K smart contracts have been deployed to Ethereum, little is known about the characteristics of its users, smart contracts, and the relationships among them. To fill in the gap, in this paper, we conduct the first systematic study on Ethereum by leveraging graph analysis to characterize three major activities on Ethereum, namely money transfer, smart contract creation, and smart contract invocation. We design a new approach to collect all transaction data, construct three graphs from the data to characterize major activities, and discover new observations and insights from these graphs. Moreover, we propose new approaches based on cross-graph analysis to address two security issues in Ethereum. The evaluation through real cases demonstrates the effectiveness of our new approaches.

The study aimed at determining the effect of customer security on the performance of online banking on microfinance institutions in Nakuru CBD. The study is significant to the Microfinance Institutions in that; it will benefit management and staff of MFI and the government understudy by gaining insights into how their institution can effectively deal with the challenges that they face in managing their clients and ensuring they grow their business. The increasing number of consumers of online banking shows that the level of adoption of online banking has improved. Several variables can influence the amount of adoption of online banking. The researcher used survey design where the target population comprised of 35 respondents. These were Branch managers, Chief Credit officer/s and the IT support of the MFI in Nakuru CBD. The study used census method, and a questionnaire containing closed-ended questions was used as the data collection instrument for the research. Descriptive statistics were used in data analysis and presentation of the results was in the form of tables, charts and graphs. The findings revealed that security affects the implementation of online banking to a large extent. Based on this finding, the researcher recommended that Microfinance Institutions should improve on issues concerning customer security in that, there should be no delay. The researcher suggested further study should be done on factors affecting adoption of M-Pesa money transfer bill payment.

This article analyzes the research on cryptocurrency and blockchain technology and the alternate banking system, led by giants like Bitcoin and Ethereum, and its potential utility for the millions of migrants living in working around the globe, who send nearly half a trillion dollars through various formal and informal channels to family and friends in their home countries. While research on migrant remittances is well established and has been examined from many different lenses, including economic, political, financial, sociological and entrepreneurial, there are few studies to date that examine how the growing crypto-blockchain channel can impact remittance flows, as a lower cost alternative to MoneyGram and Western Union, which have high transaction costs, and also considering that many migrants do not have formal bank accounts, eliminating formal bank transfers, and also that many migrants hold a vulnerable legal status, and may avoid formal money transfer channels. This article is exploratory in nature and identifies the work that has been done to date on this topic, and identifies potential future research in the area.

Purpose This paper aims to offer a general overview of money transfers in Italy and Europe focussing specifically on the migrant community. This is of particular interest because it is in that community where money transfers are most prevalent. This shows the money transfer system as a tool that could guarantee the financial inclusion of migrants but at the same time being used in a distorted and unlawful manner. Design/methodology/approach After a brief introduction focussed on working principles and legal frameworks, the paper will go deeper in evaluating money transfer data. This data, which comes from various legal authorities, will show the extent to which different migrant communities who reside in Italy are able to carry out illicit activity using money transfers. It will also highlight the existence of legislative inconsistencies through a case by case approach. Findings This paper shows the reason why people find it relatively easy to use money transfers to launder money or in a broader sense, take part in other illicit financial operations such as financing terrorism. Originality/value This study will examine recent Italian criminal cases concerning the unlawful use of money transfers. This paper is the original study of the author and has not been submitted elsewhere for publication.

Part 1: Block Chain; International audience; The purpose of this study is to explore whether the diffusion of cryptocurrencies represents a disruptive change and what is the potential magnitude of this change. To this end, we take disruptive innovation theory as our point of departure to scrutinize cryptocurrencies as an instance of socio-technical change. We employ Causal Layered Analysis to develop our four-layer analytical framework to conceptually examine the changes pertained by the diffusion of cryptocurrencies. We provide examples of changes company-level, industry-level as well as societal changes where cryptocurrencies have played a central role. On a company level, cryptocurrencies provide a cost-efficient means for cross-border money transfer and thus pose a significant threat to the existing intermediary-based business models. On an industry level, many central banks are experimenting with crypto- or digital currencies. On a societal level, cryptocurrencies play an important role in particularly when the traditional institutions and societal structures collapse. For example, in Venezuela’s recent political and economic crisis, cryptocurrencies contributed to the development of a parallel financial system when the bolivar practically lost its value. Our study provides an analytical framework to systematically evaluate the potential disruptive nature of cryptocurrencies as well as other blockchain-based technologies.

Blockchain offers unprecedented opportunities for innovation in financial transactions. A whole new world of opportunities for banking, lending, insurance, money transfer, investments, and stock markets awaits. However, the potential for wide-scale adoption of blockchain is hindered with cybersecurity and privacy issues. We provide an overview of the risks and security requirements and give an outlook for future research that could be helpful in solving some of the challenges. We also present an approach for policy specification and verification of financial transactions based on smart contracts. Keywords: Blockchain, Security policy, Smart contract, 5G networks

In the banking industry, blockchains are currently being investigated as an alternate interbank money transfer platform. However, the blockchain network structure has not matured yet, and there could be many issues and opportunities on fully operating such a system. The research about the use of blockchain for cross-border payment systems is speedily progressing, which is why there is need to frequently emphasize the progress and make assessments. In this paper we analyze and discuss the significance and progress towards using blockchain technology for cross-border payments through recent literature consisting of research articles and cases., Bankacılık sektöründe blok zincir sistemleri alternatif bir bankalar arası para transferi platformu olarak araştırılmaktadır. Bununla birlikte, blockchain ağ yapısı henüz olgunlaşmamış ve potansiyeli de henüz tam olarak analiz edilmemiştir. Böyle bir sistemi tamamen işletmek için çözülmesi gereken birçok husus ve barındırdığı fırsatlar olabilir. Sınır ötesi ödeme sistemleri için blockchain kullanımı ile ilgili araştırmalar hızla ilerlemektedir; bu nedenle, bu alandaki ilerlemeyi sıklıkla değerlendirmek gerekmektedir. Bu ihtiyaca cevap vermek için, bu makalede, araştırma makaleleri ve vakalardan oluşan güncel literatür analiz edilerek sınır ötesi ödemeler için blockchain teknolojisinin kullanımının önemi tartışılmış ve bu alandaki ilerleme analiz edilmiştir