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on Payment Systems and Financial Technology |
| By: | Benseny, Jaume; Finley, Benjamin; Hämmäinen, Heikki |
| Abstract: | According to the ITU, in 2013, only 6% of the population in developing countries had access to broadband Internet. Nevertheless, mobile Internet penetration rates have already exceeded those of fixed telecommunication services and may help in bridging the digital divide. To understand this phenomenon, we model the mobile Internet diffusion process via a system dynamics model that includes user competence, data price, and mobile network capacity as the main contributors to consumer utility and consequently, the main mobile Internet diffusion bottlenecks. The links that connect the system dynamics model variables are evaluated through a linear regression analysis that includes, for the first time, actual mobile capacity measurements from 17 metropolitan areas in emerging markets. The results suggest that market competition and mobile capacity are the main mobile Internet diffusion bottlenecks in emerging markets. |
| Keywords: | Mobile Internet,Emerging Markets,System Dynamics,Mobile Capacity |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse16:148658&r=pay |
| By: | Ali, Abdelrahman Elzahi Saaid (The Islamic Research and Teaching Institute (IRTI)) |
| Abstract: | This study investigates whether Kenya would be able to achieve better financial inclusion by going beyond traditional microfinance through the adoption of mobile microfinance, rather than just transfering and receiving through mobile money. The study used survey and structured questionnaires to check the readiness of the unbanked Kenyan community, microfinance providers, mobile operators, and the government for adopting effective mobile microfinance. The results showed that the unbanked Kenya are engaged in microfinance enabled jobs such as self-employment and retailers. The community, which was found to be highly connected with mobile phone has a lower awareness of mobile microfinance. While respondents admitted using electronic payment on limited situations, cash is still the dominated medium of making payment. Since the unbanked Kenyan are living in remote areas, mobile microfinance would help to improve their access to finance through reducing the cost of services, minimizing the physical distance to the access point, better documentation, and improving outreach by opening the untapped markets. The results recommend that mobile microfinance intuitions and mobile operators need to exert joint efforts to promote more awareness and develop appropriate mobile microfinance products. On the other hand, the regulator intervention is needed to eradicate barriers such as high tariff, bad corporate governance, and dispute resolution. |
| Keywords: | Financial Inclusion; Mobile Microfinance; unbanked community |
| JEL: | G21 O10 |
| Date: | 2016–06–12 |
| URL: | http://d.repec.org/n?u=RePEc:ris:irtiwp:2016_012&r=pay |
| By: | Hallingby, Hanne Kristine |
| Abstract: | This paper discusses the mobile number's status as a general purpose identifier in digital customer journeys. The strength and availability of the mobile number as ID is assessed across several markets and examples of use are given. Two cases where the mobile number already is a trusted resource and installed base are presented. Strength and availability for the mobile number as ID varies across markets depending on ID requirements for SIM-cards and the local ecosystem: some markets score high, others low. The cases discussed are Norway and Pakistan. They are respectively a developed and developing economy however; both demonstrate a strong and available mobile number and innovative uses in digital customer journeys. This signals on the one hand a potential universal applicability of the mobile number across markets with very different prerequisites, on the other hand that use of the mobile number is a local phenomenon only. The analysis indicates that across markets there is an ongoing and continuous management of both mobile numbers and other IDs in order to affect strength and availability, to reach a sufficient installed base, and position as an attractive resource for digital customer journeys. |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse16:148672&r=pay |
| By: | Martínez de Ibarreta, Carlos; Gijón, Covadonga |
| Abstract: | Nowadays a big and increasing proportion of world's population uses Internet in their day life and web connection via mobile is having a growing importance. Day by day there is more information about the risks and dangers of a misuse of Internet and mobile phones, which may involve all sorts of negative consequences, from computer malfunction to economical or personal damages. Almost 30% of Spanish mobile users acknowledge to have suffered any kind of mobile security incident during the last three months, whereas roughly 20% of them acknowledge to have suffered any kind of fraud via mobile. Consequently, a significant fraction of users has been victim of some kind of cyber-attacks. In this paper it is observed, among others, positive relationship between level of security measures and level of attacks or frauds. There are two possibilities: the risk compensation theory or protection after an attack or fraud. |
| Keywords: | cybersecurity,mobile,cyber-attacks,fraud,behaviour |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse16:148690&r=pay |
| By: | Asongu, Simplice; Batuo, Enowbi; Nwachukwu, Jacinta; Tchamyou, Vanessa |
| Abstract: | This study assesses how information diffusion dampens the adverse effect of market power on the price and quantity of loans provided by a panel of 162 banks from 39 African countries for the period 2001-2011. The empirical evidence is based on three endogenity-robust estimation techniques, namely: (i) Two Stage Least Squares (2SLS), (ii) Generalised Method of Moments (GMM) and (iii) Instrumental Variable Quantile Regressions (QR). Three key results emerge. First, from the GMM results, a mobile phone penetration rate of 54.29, rising to 57 per 100 people are predicted to neutralise the adverse effect of market power on the average loan price and quantity respectively. Second, from the QR, mobile phone penetration rates of 56.20, 52.04 and 42.76 per 100 people is needed to nullify the negative effect of market power on loan quantity at the 0.10th, 0.25th and 0.90th quintiles respectively. Third, a considerably lower internet penetration rate of 9.49 per 100 people is required to counteract the negative impact of market power on loan quantity at the 0.90th quintile. |
| Keywords: | Financial access; Market power; Information asymmetry; ICT; Africa |
| JEL: | G20 G29 L96 O40 O55 |
| Date: | 2016–10 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:76124&r=pay |
| By: | Sudtasan, Tatcha; Mitomo, Hitoshi |
| Abstract: | Over-the-top (OTT) media and communications services are shifting internet consumption towards the increase of traffic over the internet. Since FTTH provides the highest capacity and speed of the broadband service, this paper attempts to examine the impact of OTT services to consumers to subscribe FTTH as an efficient off-load option from mobile broadband. Main research questions are whether and how OTT services affect and drive consumers to adopt optical fiber broadband. It uses fuzzy data to derive consumer's willingness to pay (WTP) for optical fiber broadband connection. The results of the study indicate that movie over internet service as an OTT service drives people to adopt and be willing to pay more for FTTH connection. The paper also discusses the policy implication on the promotion of optical fiber broadband adoption in Thailand. |
| Keywords: | Optical fiber,Willingness to pay,OTT services,Fuzzy data |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse16:148709&r=pay |
| By: | Jeanjean, François; Houngbonon, Georges Vivien |
| Abstract: | The optimal market structure in the mobile industry is an important topic in the mobile industry. In this paper, we use two theoretical frameworks and a structural estimation approach to assess the effects of market structure on consumer surplus in symmetric mobile markets. When mobile services are viewed as homogeneous products under Cournot competition, we find that consumer surplus falls with the number of operators. However, when mobile services are considered as differentiated products under Salop competition, we find an inverted-U relationship between consumer surplus and the number of mobile operators. These findings call for a case-by-case analysis of the optimal market structure in the mobile industry. |
| Keywords: | Market structure,Investment,Mobile Telecommunications |
| JEL: | D21 D22 L13 L40 |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse16:148678&r=pay |
| By: | Adriano Basso; Pietro |
| Abstract: | The UK Government has proposed national roaming to ensure that consumers may use rival mobile networks in areas where their own operator does not offer (network) coverage (these are known as “partial not-spots”). The proposed policy aimed at increasing the likelihood of mobile subscribers being able to make and receive calls. While this may raise a number of issues, including the risk of higher prices via higher costs and collusion, this article focuses on only one question: whether national roaming, rather than making it more likely that consumers in partial not-spots may be able make and receive calls, may achieve the very opposite outcome. This is because, under national roaming, and depending on the level of the charge, mobile operators may have the incentive to withdraw their network coverage and roam instead. |
| Keywords: | Mobile, national roaming, investment incentives, coverage. |
| Date: | 2016–11 |
| URL: | http://d.repec.org/n?u=RePEc:rsc:rsceui:2016/57&r=pay |
| By: | Paola Valbonesi (Universita'di Padova); Federico Biagi (European Commission - JRC) |
| Abstract: | This report discusses analyses ICT Innovation vouchers and provides insights on how such instruments can be used to support small- and medium-sized enterprises (SMEs) in developing and adopting information communication technology (ICT) and digital innovation in order to enhance their competitiveness and growth. This report suggests that the effectiveness of ICT innovation voucher programmes are affected by the granting government’s choices, which should be grounded on a preliminary analysis of SMEs’ needs in the region/area considered. In particular, referring to the SMEs’ ICT-based innovation and digital needs, it would be useful to map the actual ‘level’ of ICT adoption and diffusion among local firms (SMEs in particular) in order to gain a better understanding of the ICT services and applications that could improve firms’ competitiveness and growth, especially by stimulating product, process, organisational and marketing innovation. By defining the firms’ needs and the goals of the programme, this preliminary analysis can also highlight the specific competences required from actors – the “Knowledge Service Providers†(KSPs) - supplying and developing the ICT applications supported by the ICT innovation voucher programme. The report also discusses vouchers implementation, and it examines best practices. Indicators for additionality (i.e. input, output and behavioural) and their information needs are also illustrated. Moreover, in the aim to evaluate the vouchers’ impact, we also discuss how to perform a counterfactual analysis for an ICT innovation voucher programme. |
| Keywords: | Innovation vouchers, ICT |
| JEL: | O31 O38 |
| Date: | 2016–12 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc104057&r=pay |
| By: | Lu, Hui; Rohr, Charlene; Burge, Peter |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse16:148686&r=pay |
| By: | Nicolle, Ambre |
| Abstract: | This paper estimates a discrete choice model for combination of mobile tariffs and handsets using a crosssection of 11,000 new customers from a European telecommunications carrier. It mainly focuses on the valuation of tariff price, handset subsidy and price of the handset. On the one hand, a significant evolution is observed over time. Indeed, important changes on the supply side are observed, mainly in the mobile service market but also in the retailing market. On the other hand, age of consumers also influences in a wide extent consumers valuation of services and handset. Accounting for this heterogeneity, the model enables to estimate a measure for myopia occurring when consumers are trading-off price of the tariff and upfront cost of the handset. If evidence of myopia is shown for the whole time period considered (Q4 of 2011- Q4 of 2014), its magnitude tends to decrease significantly since the end of 2012. This effect is mainly due to the take-off of sim-only contracts, emergence of cheaper handsets and improved quality of information provided to consumers. |
| Keywords: | Handset subsidy,Consumer myopia,Heterogeneous preferences |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse16:148693&r=pay |
| By: | Papai, Zoltan; Nagy, Peter; Papp, Bertalan |
| Abstract: | Cross-country price comparison is a useful, but often deceptive exercise. The paper addresses the underlying methodological challenges, offering a practicable solution, which is both sound enough and meaningful for the comparison of prices on different markets. The simple and methodologically more sophisticated comparisons in turn give valuable insights into how the structural and also other factors associated with the price-differences between national markets. |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse16:148698&r=pay |
| By: | Ohnemus, Jörg; Niebel, Thomas |
| Abstract: | Cloud computing is widely seen as a new source of innovation as well as a driving factor of productivity improvements of firms. This paper analyses the determinants of cloud computing adoption in general as well as for specific deployment (Public vs. Private) and service models (SaaS, IaaS, PaaS). Our data set contains a representative sample of 2,970 German firms and refers to the years 2014 and 2015. The econometric analysis confirms our three main hypothesis regarding firms' decision to adopt cloud computing in general. The share of workers with mobile internet access, being a start-up, as well as the regional availability of high-speed fixed-line internet access increase the likelihood of a firm for using cloud computing services. |
| Keywords: | Adoption of ICT,Cloud Computing,Multivariate Probit |
| JEL: | L10 L86 O33 |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse16:148694&r=pay |
| By: | Rajabiun, Reza; Middleton, Catherine |
| Abstract: | The implications of the experience in Europe with telecommunications policy design and broadband Internet development have become a contested area of policy debate, both in Europe and in other countries. This paper evaluates the manner in which the European experience has been characterized in telecommunications policy debates in Canada about wholesale Internet access regulations. Using broadband Internet speed measurements, we assess the empirical relevance of characterizations of Europe by private interest groups trying to shape public policy in Canada. The analysis highlights the importance of national telecom policies and operator strategies for explaining divergent paths of network development. |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse16:148700&r=pay |
| By: | Eva Micheler; Luke von der Heyde |
| Abstract: | In this article, the authors assess the benefits of blockchain/distributed ledger technology for the holding, clearing and settlement of securities currently held in intermediated holding structures and consider the steps needed to facilitate an efficient market. The recommendation is that investors should receive full disclosure of the custody and sub-custody arrangements associated with their investments |
| JEL: | F3 G3 |
| Date: | 2016–12 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:68792&r=pay |
| By: | Koguchi, Teppei; Jitsuzumi, Toshiya; Kasuga, Norihiro; Nakamura, Akihiro; Shishikura, Manabu |
| Abstract: | In this research, we performed AHP analysis on what sentiments or emotions have the capacity to affect the WTP and WTA required by consumers, with respect to personal information leaks during internet use. The analysis results revealed differences in consumer sentiment and emotion during the following instances, despite their commonality in dealing with a personal information leak: a data leak while using online search services, while using a typical video streaming service such as YouTube, and while using a pornographic video service. Specifically, the user had relatively greater anger toward the business for data leaks encountered while using a typical video streaming service, and relatively greater self-shame for data leaks encountered while using pornographic video services. |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse16:148681&r=pay |
| By: | Ivory, Chris; Casey, Rebecca; Watson, Kayleigh |
| Abstract: | The article addresses the lack of focus, in the literature on work and communications technology, on the role played by communities of practice (CoPs) in mediating the impacts of technology change on work. It is argued that the particular characteristics of CoPs, the fact that they are regarded as an end in themselves by community members, make them a key part of the technology-organisation dialectic. By examining the role played by CoPs, it is possible to gain a better understanding of the relationship between work and technology - in particular the unintended consequences of technology change for work and, indeed, for CoPs themselves. |
| Keywords: | Communications,Technology,Change,Communities of Practice,Repair Workers |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse16:148676&r=pay |
| By: | Stocker, Volker; Whalley, Jason |
| Abstract: | In this paper, we demonstrate that there is more to consumer experience than just broadband access speed. We identify and describe a complex and dynamic set of interactions that occur between different factors that collectively determine consumer experience. We suggest that the relationship between broadband speed and consumer experience follows an inverted U-shape. Access speed is necessary to provide consumers with a good experience, but it is not sufficient. Based on our findings, a more nuanced understanding of the market for broadband Internet access products is outlined and a foundation for deriving valuable policy implications is developed. The results are of particular relevance for the ongoing universal service discussions in the UK and other countries. |
| Keywords: | Internet Access,Broadband,QoS,QoE,Consumer Experience,Ofcom |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse16:148707&r=pay |
| By: | Levin, Stanford L.; Schmidt, Stephen; Scott, Graham |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse16:148684&r=pay |
| By: | Drozd, Lukasz A. (Federal Reserve Bank of Philadelphia); Serrano-Padial, Ricardo (Drexel University) |
| Abstract: | We investigate the role of information technology (IT) in the collection of delinquent consumer debt. We argue that the widespread adoption of IT by the debt collection industry in the 1990s contributed to the observed expansion of unsecured risky lending such as credit cards. Our model stresses the importance of delinquency and private information about borrower solvency. The prevalence of delinquency implies that the costs of debt collection must be borne by lenders to sustain incentives to repay debt. IT mitigates informational asymmetries, allowing lenders to concentrate collection efforts on delinquent borrowers who are more likely to repay. |
| Keywords: | debt collection; credit cards; consumer credit; unsecured credit; revolving credit; moral hazard; costly state verification; informal bankruptcy; information technology |
| JEL: | D91 E21 G20 |
| Date: | 2017–01–12 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fedpwp:17-2&r=pay |
| By: | de Streel, Alexandre; Larouche, Pierre |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse16:148714&r=pay |
| By: | Pieters, Gina (Trinity University); Vivanco, Sofia (Trinity University) |
| Abstract: | We document systematic differences in bitcoin prices across 11 different markets representing 26% of global bitcoin trade volume. These differences must — due to the identical nature of all bitcoin — result from characteristics of markets themselves. We examine differences across the markets and find that those which do not require customer identification for establishing an account are more likely to deviate from representative market prices than those which do. This implies that standard financial regulations, specifically know-your-customer regulations, can have a non-negligible impact on the bitcoin market. |
| JEL: | G12 G14 K42 L86 |
| Date: | 2016–12–01 |
| URL: | http://d.repec.org/n?u=RePEc:fip:feddgw:293&r=pay |
| By: | Wireko, Joseph K.; Skouby, Knud E. |
| Abstract: | Beside its cost-efficient benefits, e-government plays an important role in reducing corruption. As most developing countries, especially in Africa are fighting corruption, e-government is seen as a new way of addressing it. E-government is thought to reduce corruption through increased transparency, better accountability and, the disappearance of the “middle-man” in the acquisition of public services by the citizenry. This paper tries to find out how e-government can decrease corruption by analyzing the implementation of e-government service of the Driver and Vehicle Licensing Authority (DVLA) of Ghana using the “stages of growth” mode from socio-technical perspective. The outcome of the analysis suggests that the e-government service implementation by DVLA is still at its basic and rudimentary stage (Catalogue stage) and continuous presence of the “middle-man,” high level of corruption, lack of transparency, accountability and trust in the acquisition of services provided by the Authority. The DVLA can still benefit from e-government if it commits to full implementation. |
| Keywords: | Corruption,E-government,E-service,Internet,Website |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse16:148713&r=pay |
| By: | Lööf, Hans (CESIS - Centre of Excellence for Science and Innovation Studies, Royal Institute of Technology); Martinsson, Gustav (CESIS - Centre of Excellence for Science and Innovation Studies, Royal Institute of Technology); Mohammadi, Ali (CESIS - Centre of Excellence for Science and Innovation Studies, Royal Institute of Technology) |
| Abstract: | This report discusses how financing difficulties can affect private sector innovation investments in environmental technology applied to the Swedish setting. Innovative investments are often intangible, the outcomes are highly uncertain, and information asymmetries between entrepreneurs and outside investors are potentially severe. These factors make external finance costly and drive investment in environmental technology below its socially desirable level. Recent evidence from the literature on financing and innovation suggests that financing constraints on innovation are likely economically significant. Therefore, policies and financial developments that affect the availability of finance can have important effects on economy wide rates of environmental technology innovation. |
| Keywords: | Clean technology; Innovation Investments; Financial constraints; Spillovers; Sustainable growth |
| JEL: | O32 O33 Q55 Q56 Q58 |
| Date: | 2017–01–16 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:cesisp:0445&r=pay |
| By: | Marcin Kawiński (Warsaw School of Economics); Piotr Majewski (WSB University in Toruń) |
| Abstract: | The aim of this paper is to present critical analysis of different concepts related to financial literacy. Discussion of usefulness of standard questions on financial literacy and presenting data on the first Polish research of standard questions on financial literacy compared with selected countries. And finally presenting questionnaire for insurance literacy and findings from Polish research. |
| Keywords: | financial literacy, insurance literacy |
| JEL: | D14 D83 G11 G21 G22 I20 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:war:wpaper:2017-03&r=pay |
| By: | Cheikhrouhou, Naoufel; de Vrieze, Paul; Giovannetti, Emanuele; Liu, Shaofeng; Xie, Ying; Xu, Lai; Yu, Hongnian |
| Abstract: | Logistics section is one of the most important industrial sections to contribute to European economy. To improving efficiency and energy efficient of logistics, European Commission call new research theme ‘smart, green and integrated transport' in its H2020 program. The paper presents a version on providing a cloud based platform for supporting big data empowered logistics services to respond this call. The research is supported by inter-disciplinary approaches, which brings experts from telecommunication, cloud computing, sensor networking, service-oriented computing, data analysis, transportation, and logistics areas to work together to provide real-world solutions for future logistics. The research questions and challenges of the platform are highlighted. Overall architecture and data collection are presented. |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse16:148662&r=pay |
| By: | Pallás-Gozálvez, Javier-Anatole; Gijón, Covadonga |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse16:148696&r=pay |
| By: | Kuroda, Toshifumi; Kido, Daido; Ichikawa,Yoshiharu |
| Keywords: | Public service media,Internet,Field experiment |
| JEL: | D12 D72 D83 L86 |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse16:148682&r=pay |
| By: | Na, Kyoung-Youn; Yoon, Chang-Ho |
| Abstract: | This paper estimates the non-linear impact of ICT network on motorway contribution to total factor productivity. Using dynamic panel data of OECD member countries, the paper finds that there exists a critical mass of broadband penetration rate which has the property that if this threshold level is reached, there will be an accelerating network effects of motorway extension. |
| Keywords: | ICT convergence,productivity growth,complementarity,infrastructure development |
| JEL: | O47 O38 |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse16:148692&r=pay |
| By: | Fennell, Shailaja; Prashant, Suma; Charles, A.; Ravindran, Deapica; Kaur, Prabhjot; Jhunjhunwala, Ashok |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse16:148667&r=pay |
| By: | Asongu, Simplice; Le Roux, Sara; Tchamyou, Vanessa |
| Abstract: | This study investigates the role of information sharing offices (public credit registries and private credit bureaus) in reducing market power for financial access in the African banking industry. The empirical evidence is based on a panel of 162 banks from 42 countries for the period 2001-2011. Three simultaneity-robust empirical strategies are employed, namely: (i) Two Stage Least Squares with Fixed Effects in order to account for simultaneity and the observed heterogeneity; (ii) Generalised Method of Moments (GMM) to control for simultaneity and time-invariant omitted variables and (iii) Instrumental Variable Quantile regressions to account for simultaneity and initial levels of financial access. In order to ensure that information sharing offices influence market power for loan price (quantity) to decrease (increase), public credit registries should have between 3.156% and 3.3% coverage, while private credit bureaus should have between 1.443 and 18.4% coverage. The established thresholds are cut-off points at which information sharing offices completely neutralise the negative effect of market power on financial access. The thresholds are contingent on the dimension (loan price versus loan quantity) and distribution (conditional mean versus conditional distribution) of financial access. |
| Keywords: | Financial access; Market power; Information sharing |
| JEL: | G20 G29 L96 O40 O55 |
| Date: | 2016–09 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:76120&r=pay |