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Do coordination failures constrain financial technology adoption? Exploiting the Mexican government's rollout of 1 million debit cards to poor households from 2009 to 2012, I examine responses on both sides of the market and find important spillovers and distributional impacts. On the supply side, small retail firms adopted point-of-sale terminals to accept card payments. On the demand side, this led to a 21 percent increase in other consumers' card adoption. The supply-side technology adoption response had positive effects on both richer consumers and small retail firms: richer consumers shifted 13 percent of their supermarket consumption to small retailers, whose sales and profits increased. (JEL E42, L25, L81, O14, O33) [ABSTRACT FROM AUTHOR]

The world is turning to financial fraud as a base for daily transactions due to the rapid growth of digital technologies, which creates numerous new opportunities for criminals to misuse credit and debit cards. The card's issuer should offer a service to shield users from any risks they might encounter in order to guarantee the security of users of those cards. This study describes the usage of deep learning algorithms for prediction of financial fraud. With the aim to represent the duration sequence generated by series of identical card transactions, we propose the use of an evolving machine learning technique. However, because most datasets containing financial fraud transactions are severely skewed, financial fraud detection remains a substantial issue for statistical solutions. This is a crucial field of research since fraudulent instances are difficult to identify and get tougher as more data is collected, decreasing the number of these instances. In this paper, utilising a Flexible Simulated Instance approach, the problem of data imbalance is resolved. Also, a tuned bidirectional LSTM with attention layer (A-BiLSTM) is proposed to detect the financial fraud. This model aims to improve existing detection strategies and detection accuracy in the context of enormous amounts of data. A benchmark dataset of financial frauds is used to evaluate the proposed model, and the outcomes are compared against existing models based on various deep learning approaches. The testing findings showed that A-BiLSTM performed flawlessly, achieving 99.96% accuracy. [ABSTRACT FROM AUTHOR]

The global growth of the e-commerce industry has heightened concerns among consumers, businesses, and financial institutions regarding fraud while using credit and debit cards and safeguarding personal information. It is necessary to secure information disseminated over insecure channels to prevent unauthorized access. Cryptography and steganography are widely used for this purpose. However, completely relying on the combined usage of both may not be enough in today's world, resulting in weak security. By combining visual cryptography, more levels of security can be added, thus boosting the security of secret information. This study suggests a data security framework that employs multiple levels of security for information. At the first level of security, cryptography is used to encrypt the secret information, and at the second level of security steganography is used to conceal the encrypted text. After that, visual cryptography is applied, which generates the shares of the image obtained. Finally, image steganography is used to hide the generated shares in different color images. When used together, these data security methods greatly improve the secrecy, trustworthiness, and effectiveness of secret messages. The precision of text is determined through Mean Square Analysis (MSE) and correlation coefficient, which involves a comparison of sent and received text. MATLAB environment is used for the implementation. [ABSTRACT FROM AUTHOR]

Digitalisation of the welfare state has intensified in recent years, with burdens unevenly distributed between technology advocates and those receiving government income support. Putting in place processes where people needing social security must meet mandatory requirements of digital literacy and divert a significant amount of their small incomes to pay for expensive technologies such as computers, smartphones, and data plans comes at a cost. This article examines lived experiences of First Nations Cashless Debit Card (CDC) holders who experienced digitalisation of their social security payments. Under the CDC, a range of restrictions were placed on purchases, spending social security income came with stigma, technology troubles meant that income was less secure, and Indigenous peoples' autonomy was undermined. Although the CDC has since been abolished, these issues remain relevant as a new cashless social security card, the SmartCard, has been introduced in 2023. [ABSTRACT FROM AUTHOR]

Financial literacy is crucial in empowering individuals, particularly rural women, to make informed financial decisions and achieve economic well-being. This study explores the financial literacy and awareness levels of rural women in the Malappuram district, focusing on the relationship between socio-demographic factors and financial literacy. The research, conducted through a cross-sectional descriptive study among 100 women, reveals that most respondents are young, educated, and possess a moderate level of awareness and knowledge of financial tasks and products. The study highlights significant barriers to financial literacy, including social and cultural issues, lack of education, income constraints, and gender discrimination. Despite these challenges, the penetration of financial products like bank accounts, debit cards, and mobile banking is relatively high among the participants. The study finds a significant relationship between age and financial literacy but no significant correlation between education or income levels and financial literacy awareness. The findings underscore the need for targeted financial education programs to enhance financial literacy among rural women, addressing identified barriers and focusing on age-specific strategies to improve their economic participation and contribute to national economic development. [ABSTRACT FROM AUTHOR]

The objective of this research paper is to analyze the impact of financial innovations on the financial performance of commercial Banks in Pakistan. For this purpose, we used six years data from 2013 to 2019. The financial performance of banks was chosen as dependent variable, and it was measured through three profit indicators such as return on assets (ROA), return on equity (ROE) and earning per share (EPS), while number of ATMs, number of credit card users, number of debit card users and internet banking were taken as independent variables. Out of total 44 commercial banks, 12 banks were selected as a sample of study. Econometric techniques such as descriptive statistics, correlation Matrix, ADF test, ARDL model, Bound test and Error Correction Model were applied to analyze the data and draw the results. The findings of the study reveal that number of ATMs, number of credit card users, number of debit card users and internet banking have positive and significant relationship with banking profitability in Pakistan as the profitability of selected banks was improved substantially during the study period. The insight for the policy makers is that they should devise such policies which enhance maximum use of internet banking in order to reduce automation cost of banks, boost their efficiency and boost their profitability in future. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to examine the causation linking financial technology to economic growth in the East African Community states from 1997 to 2019. Design/methodology/approach: Autoregressive distributed lag is used. Gross domestic product per capita proxies economic growth, automated teller machines, point of sale, debit card ownership and mobile banking measure financial technology. Findings: The results unveil a significant relationship between financial technology and economic growth. The findings show bidirectional causality between automated teller machine and economic growth, with unidirectional causation from economic growth to point of sales and internet banking, mobile banking and government effectiveness to economic growth. The error correction term is negatively significant, demonstrating a long-term convergence between Fintech measures and economic growth. Research limitations/implications: The governments should effectively enact and implement policies that protect investments in financial technologies to boost economic growth in the East African Community countries. The government should reduce taxes on financial technology equipment and related services. The use of automated teller machine, debit card ownership and internet banking should be encouraged through cashless transactions. Financial institutions should adopt cashless operation policies to encourage the use of financial technologies. Originality/value: Research results on the bond between financial technology and economic growth are not conclusive. These studies demonstrate that technological innovations are double edged-swords, with both positive and negative sides. The results are conflicting; some reveal positive relationships, while others show negative links. Hence, research is required to fill the lacuna. [ABSTRACT FROM AUTHOR]

The COVID-19 pandemic induced a volatile pattern in household expenditures on a global scale. In this study, we analyse the mitigating effect of vaccination trends on pandemic-related depression in expenditures by exploiting province-level high-frequency credit and debit card data from a large emerging market, Türkiye. The baseline analysis confirms the moderating role of widespread vaccination with respect to consumption tendencies. Our baseline findings are validated by a myriad of robustness checks. Moreover, we show that this effect on pandemic-household expenditures nexus is stronger for provinces with a higher share of services industries in total value-added. [ABSTRACT FROM AUTHOR]

Recently, U.S. advocates and funders have supported direct cash transfers for individuals and families as an efficient, immediate, and non‐paternalistic path to poverty alleviation. Open questions remain, however, about their implementation. We address these using data from debit card transactions, customer service call‐line logs, and in‐depth interviews from a randomized control study of a monthly unconditional cash gift delivered via debit card to mothers of young children living near the federal poverty line. Because much of the impact of the intervention occurs through mothers' decisions about how to allocate the Baby's First Years (BFY) money, we argue that implementation science must recognize the role of policy targets in implementing policy, not just in terms of policy outcomes but also policy implementation processes. Further, our analysis shows that mothers experience key aspects of the cash intervention's design as intended: they viewed the cash gift as unconditional and knew the money was reliable and would continue monthly, receiving the correct amount with few incidents. Delivering funds via debit card worked well, offering mothers flexibility in purchasing. We also illuminate how design features shaped mothers' experiences. First, although they knew it was unconditional, the social meaning of the BFY money to mothers—seen as "the baby's money"—shaped their engagement with and allocation of it. Second, low public visibility of mothers' receipt of this money limited the financial demands or requests from others, potentially facilitating more agency over and a greater ability to use the money as they chose, without claims from kin. [ABSTRACT FROM AUTHOR]

The International Shaw Society (ISS) offers various benefits for members, including discounted subscriptions to Shaw-related journals, eligibility for travel grants and prizes, discounts on conference registration fees, and access to valuable research tools. The ISS also provides scholarships and grants to support younger scholars in attending Shaw-related events and conducting research on Bernard Shaw. Membership forms and application details for scholarships can be found on the ISS website. [Extracted from the article]

Behavioral household finance shows that people are often more willing to spend when using less tangible forms of money like debit cards or digital payments than when spending in cash. We show that this "payment effect" cannot be generalized to mobile money. We surveyed families in rural Northwest Bangladesh, where mobile money is mainly received from relatives working in factories. The surveys were embedded within an experiment that allows us to control for the relationships between senders and receivers of mobile money. The finding suggests that the source of funds matters, and mobile money is earmarked for particular purposes and thus less fungible than cash. In contrast to the expectation of greater spending, the willingness to spend in the rural sample was lower by 24 to 31 percent. In urban areas, where the sample does not receive remittances on net, there are no payment effects associated with mobile money. • Digital forms of money can shift perceptions of money and how it is spent. • We estimate willingness to spend with mobile money versus cash in Bangladesh. • A dual-site experiment creates exogenous variation in use of mobile money. • Rural residents are less willing to spend with mobile money, consistent with earmarks. • We do not find similar payment effects for urban residents. [ABSTRACT FROM AUTHOR]

Using six widely accepted indicators, this study compares the progress made in financial inclusion in Nigeria, Sub-Saharan Africa, and the rest of the World, with a view to deducing lessons that each entity can improve upon. We find that Nigeria outperformed Sub-Saharan Africa in three indicators of financial inclusion while Sub-Saharan Africa did better than Nigeria in one metric. Nigeria and Sub-Saharan Africa exceeded the world average in informal borrowings. We also constructed an index of financial inclusion and found that financial institution account ownership, formal borrowing, informal borrowing, and debit or credit card ownership are significant positive determinants of the financial inclusion index. These findings indicate that policymakers in Nigeria and Sub-Saharan Africa have significant room for improving their financial inclusion standings towards the global average. We make recommendations on the aspects where policymakers can place their focus in pursuit of this goal. [ABSTRACT FROM AUTHOR]

Background: Digital transformation became one of the strategies in the banking industry to keep up with changes in consumer behavior. Cardless Cash Withdrawal (CCW) was one of the bank innovations for digital transformation, where customers could withdraw cash at Automated Teller Machines (ATMs) without bringing or using a debit card. Purpose: This study aimed to find factors influencing the behavioral intention and use behavior of CCW in Jabodetabek with the extended Unified Theory of Acceptance and Use of Technology (UTAUT) model. Design/methodology/approach: This study used a non-probability sampling method to sample 155 mobile banking users from Jabodetabek who aware of CCW. The results which were processed using Structural Equation Model with Partial Least Square (SEM-PLS) showed that (insert the findings) Findings/Result: Performance expectancy and facilitating conditions positively and significantly affected the behavioral intention of using CCW. Meanwhile, the factors that had a positive and significant effect on the use behavior of CCW were facilitating conditions and behavioral intention. Conclusion: External factors has a stronger impact when individuals use CCW. Therefore, as long as users have adequate surrounding conditions when withdrawing cash, they are more likely to use CCW. Originality/value (State of the art): This study has adapted the combination of variables for extended UTAUT with different research objects compared to previous studies. Earlier research examined mobile and internet banking (Martins et al. 2014; Oliveira et al. 2014), while this study focuses on services provided in mobile banking. Previous research by Ye et al. (2020) combined the UTAUT model with perceived risk and individual intention to examine their influence on behavioral intention and attitude towards using new transportation modes in China. However, this study integrates perceived risk with the UTAUT model to examine the acceptance factors of cardless cash withdrawal features in Jabodetabek based on behavioral intention and use behavior. [ABSTRACT FROM AUTHOR]

This article discusses the relationship between economic uncertainty and consumer payment methods, with a focus on gender and racial differences. The authors argue that economic uncertainty can influence individuals' choices of payment methods, and this impact may vary among different demographic groups. The study uses data from surveys conducted by the Federal Reserve Banks and employs regression analysis to examine the effects of economic policy uncertainty on payment instrument usage. The findings suggest that economic uncertainty affects consumers' payment method patterns, and this behavior is more significant for women and minority groups. The study also examines the impact of economic uncertainty on specific payment methods. It finds that during periods of high uncertainty, there is a significant decrease in credit card usage for the general population, while cash usage increases. Gender differences show that women decrease their usage of wire transfers and alternative payment methods compared to men, but there are no significant differences in credit card or cash usage between genders. Racial differences indicate no differential effects on credit card usage between Black and White people, suggesting limited payment method options for Black people. [Extracted from the article]

This research aims to analyze the influence of Information and Communication Technology (ICT) infrastructure on the volume of card-based non-cash financial transactions in Indonesia from 2019 to 2021. This is a quantitative study. Data analysis in this research employs multiple regression with a fixed-effect model. The study utilizes panel data of longitudinal type, consisting of data on Base Transceiver Stations (BTS), Villages/Subdistricts Served by Internet, Automatic Teller Machines (ATMs), ATM/debit cards and credit cards, and non-cash financial transaction volume based on cards across 33 provinces in Indonesia as cross-sectional data, spanning a period of three (3) years from 2019 to 2021 as time-series data. Secondary data for this research were obtained from the Bank of Indonesia, the Central Bureau of Statistics, and the Financial Services Authority. Base Transceiver Station (BTS), Villages/Kelurahan Served by Internet, Automated Teller Machines (ATM), ATM/Debit Cards, and Credit Cards simultaneously have a significant influence on the volume of card-based non-cash finance. Automated Teller Machines (ATMs), ATM/debit cards, and credit cards have a significant influence on the volume of card-based noncash financial transactions. The research findings are that although ATM and card services significantly increase transaction volume, BTS and internet services in villages/districts do not show a significant impact. [ABSTRACT FROM AUTHOR]

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The legal cannabis industry in the United States has faced challenges in accessing banking services due to federal laws prohibiting cannabis sales and use. This has forced many businesses to operate on a cash-only basis, creating safety risks and inefficiencies. The SAFER Banking Act has been introduced to address these issues, but it has limitations and gaps. The text proposes targeted amendments to strengthen the SAFER Banking Act and promote equitable access to banking for legitimate cannabis businesses. The article discusses the history of cannabis banking legislation, the challenges faced by the industry, and the need for comprehensive solutions. [Extracted from the article]