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Globally, in recent years there has been a significant decrease in the number of cash transactions, followed by a decrease in the use of credit cards. Digital payments and e-commerce have undergone tremendous changes, revolutionising the way we buy and pay for various goods and services. E-commerce has ushered in a new era of online shopping, while digital payments have made transactions more convenient, fast and secure. The study analyses the evolution and changes regarding currency transfer, highlighting the importance of cardless digital payments. The convenience, security and cost efficiency they offer have led to their widespread adoption in various industries. The world of digital payments and e-commerce is undergoing rapid transformation, with technological advances and changing consumer behaviour driving the industry's evolution. Recently, especially after the pandemic, there has been a major change in the way people make payments, indicating a clear preference for electronic means, to the detriment of cash. Electronic payments provide full visibility and transparency throughout the entire payment process for both the customer and merchants. It is certain that digital payments and e-commerce will continue to be major drivers of global economic growth and innovation, and the main purpose of digital payments is to increase the convenience, speed and security of conducting financial transactions.

The aim of this study is to identify the influence of Financial Technology (FinTech) on profitability in Jordanian commercial banks. The convenience sample was surveyed using a descriptive cross-sectional approach. Questionnaires were used to collect the data. The study population consists of commercial banks. The tool was sent to employees of all Jordanian commercial banks through email, Facebook and Twitter in order to meet the researchers' target sample size of at least 381 participants. The data was analyzed using the Statistical Package for Social Sciences (SPSS) version 24. The results showed an impact of financial technology (financing, money transfers and lending) on banks' profitability. The results of this study demonstrate that the adoption of FinTech solutions by banks has a significant impact on their profitability and position. Financing, money transfer and lending are crucial in determining a bank's profitability and overall success. Therefore, this study contributed to the growth of a new model that connects financial technology through financing, money transfers and lending to profitability and it added many topics related to financial accounting technology for increasing profitability in Jordanian commercial banks. [ABSTRACT FROM AUTHOR]

Abstract Fin-Tech is the merging of finance and technology, to be considered a key term for technology-based financial operations and money transactions as far as Fin-Tech is concerned. In the massive field of business, mobile money transaction security is a great challenge for researchers. The user authentication schemes restrict the ability to enforce the authentication before the account can access and operate. Although authentication factors provide greater security than a simple static password, financial transactions have potential drawbacks because cybercrime expands the opportunities for fraudsters. The most common enterprise challenge is mobile-based user authentication during transactions, which addresses the security issues against fraudsters. The confirmation of a user legitimation before the money transaction is highlighted by mechanisms and technologies from previous studies that may be helpful in user authentication. This study aims to identify the technologies for user authentication and the opportunity for their transformation to mobile money transaction security despite having all the legally required data for a transaction. This proposed review has identified the role of multifactor authentication techniques for authentication to mitigate the risk of fraudulent transactions—the analysis through 92 articles taken from famous publishers. The most relevant articles address authentication problems, of which 54 percent describe money transaction security, and the rest highlight the supporting technology for user authentication. The study platform described the technology-based approaches with the appreciation of new ideas for secure money transactions. The QR code and multifactor authentication are key terms that increased security by 46%. In addition, this also ensures the user is legitimate using advanced technologies and algorithms to predict and discover transaction risks and discourage fraudsters from trying.

Despite the existence of legal and regulated systems, a significant proportion of Bangladeshi immigrants choose to utilize informal channels for the purpose of transferring funds. This practice has the potential to result in macroeconomic ramifications for Bangladesh. The rise of Hundi in Bangladesh has emerged as a noteworthy economic issue in recent times, particularly owing to its detrimental impact on the nation's foreign reserve and its utilization as a conduit for money launderers to unlawfully move funds abroad. The primary objective of this research is to analyze the implications of Hundi as a means of facilitating illicit financial operations. This study utilizes a qualitative research approach and a purposive sample consisting of 16 hundi dealers, 23 customers, and 7 senior bank officials working in the banking intelligence sector to investigate the hundi system's role in money laundering, despite the difficulties in accessing influential hundi dealers involved in significant transactions. The findings underscore the adverse economic consequences of Hundi, as it bypasses formal channels, thereby failing to contribute to Bangladesh's foreign reserves. Furthermore, it points out the exploitation of Hundi as a means for money laundering, enabling the assimilation of illicit funds into the legitimate economy, and supporting unlawful endeavors such as overseas property acquisition. The recommendations put forth suggest the implementation of strategies to enhance digital transactions, the establishment of a dedicated remittance application, and the design of a user-friendly agent banking system within the formal banking sector.

Fin-Tech is the merging of finance and technology, to be considered a key term for technology-based financial operations and money transactions as far as Fin-Tech is concerned. In the massive field of business, mobile money transaction security is a great challenge for researchers. The user authentication schemes restrict the ability to enforce the authentication before the account can access and operate. Although authentication factors provide greater security than a simple static password, financial transactions have potential drawbacks because cybercrime expands the opportunities for fraudsters. The most common enterprise challenge is mobile-based user authentication during transactions, which addresses the security issues against fraudsters. The confirmation of a user legitimation before the money transaction is highlighted by mechanisms and technologies from previous studies that may be helpful in user authentication. This study aims to identify the technologies for user authentication and the opportunity for their transformation to mobile money transaction security despite having all the legally required data for a transaction. This proposed review has identified the role of multifactor authentication techniques for authentication to mitigate the risk of fraudulent transactions—the analysis through 92 articles taken from famous publishers. The most relevant articles address authentication problems, of which 54 percent describe money transaction security, and the rest highlight the supporting technology for user authentication. The study platform described the technology-based approaches with the appreciation of new ideas for secure money transactions. The QR code and multifactor authentication are key terms that increased security by 46%. In addition, this also ensures the user is legitimate using advanced technologies and algorithms to predict and discover transaction risks and discourage fraudsters from trying. [ABSTRACT FROM AUTHOR]

The UK government has decided to implement lockdown measures at the end of March 2020 as a response to the outbreak and spread of the Covid-19 pandemic. As a consequence, households have experienced job losses and a significant drop in their finances. During these unprecedented and difficult times, people provide financial assistance to those who are in need and have to cope with falls in their living standards. In this study we are interested to investigate the subjective well-being, which is expressed by mental health and components of general happiness, of the givers rather than of receivers. We apply a difference-in-differences framework to investigate the impact of altruism on the givers' SWB in the UK. Altruism is denoted by transfers made to adult children, parents, siblings, and friends. Using the DiD estimator and the estimated coefficient of the household income we calculate the implicit willingness-to-pay (WTP) for altruism. We perform various regressions by gender and racial-ethnic background using data from the UK Household Longitudinal Study (UKHLS). The analysis shows that altruistic behaviours impact different domains of SWB between men and women, as well as, among people with different racial-ethnic background. [ABSTRACT FROM AUTHOR]

This article examines illegal migration and policies to eliminate it. The main characteristics of migration are described. The positive and negative sides of such a multifaceted modern phenomenon as population migration are determined. Particular attention is paid to the problem of illegal migration. The threats that may arise with its increase are called. Methods of elimination of illegal migration and problems of state policy on its elimination are revealed. Means of counteraction to illegal migration are offered. The tools that can be used to combat illegal migration are described. Global trends in illegal migration are analyzed. The analytical characteristic of scales of illegal migration of Ukraine is carried out. The main directions of combating illegal migration are proposed. [ABSTRACT FROM AUTHOR]

This is the 2-page executive summary highlighting comparative costs of transferring money through formal and informal channels from the IMTFI White Paper, "Haitian Monetary Ecologies and Repertoires: A Qualitative Snapshot of Money Transfer and Savings" and “Mobile Money in Haiti: Potentials and Challenges”.Time and cost constitute one of the key barriers to circulating goods and money in Haiti. For the banked, the lines and time it takes to access banking services have given rise to a variety of strategies to negotiate and sometimes avoid the lines. Banking in Haiti requires planning, money, and social networks as who you know at the bank can also make a difference on how fast one receives service. Most bank and transfer services operate in major cities and towns. For individuals who reside in places where these services are not available, sending and receiving money can be an expensive and time consuming undertaking. The vast majority of Haitians are “unbanked”, and thus save and circulate money outside of the formal banking system. Many of the unbanked live outside of Port-au-Prince and rely extensively upon informal social networks and alternative infrastructures to move money.

This report provides a qualitative snapshot of Haitian monetary ecologies six months after the 7.0 magnitude earthquake on January 12, 2010. The research examined the variety of ways in which money, people and goods circulate throughout Haiti in light of the changing economic, social and financial landscape. Based upon over ninety qualitative interviews and focus groups with Haitians located in four key sites throughout the country, the report focuses upon the challenges that many Haitians face in their efforts to send, receive, exchange and store money, and the role of mobile phones and other conduits in this process. Specifically, we address three key challenges that shape everyday Haitians’ attitudes towards money, trade and exchange and the potential for social change through new financial services: (1) Bureaucracy and Power; (2) Time and Cost; and (3) Security. The report concludes by providing a series of recommendations concerning the importance of social networks and intermediaries in moving money, the incorporation of the Haitian diaspora into financial inclusion models and the broader need to address Haitian values concerning savings, time and forms of exchange.

The article discusses a study which examined the association between early-life parent-child relationships on the upward transfers to unpartnered parents of adult children. Topics covered include the effect of family structure in childhood on the nature of intergenerational exchanges decades later, the association of physical violence with time transfer through the marital status of adult children, and the influence of parent-child relationships on adult children's caregiving behavior.