Developments in the payment system have implications for the conduct of monetary policy. The fifth section of this paper, therefore, deals with this issue. In particular, it discusses specific payment system innovations, such as the switch to real time gross settlement (RTGS) system and the use of electronic payments media, that can enhanceMissing: thesis The electronic payment system- the ability to pay electronically for goods and services purchased online- are an integral part of e-commerce and an essential infrastructure for e-commerce models. One of the major reasons for the widespread of e- commerce transactions is perhaps the rapid development and growth of various electronic payment systems Essay on Electronic Payment System. Words6 Pages. Electronic Payment System. I. Introduction. With the continuing rapid growth of E-commerce, transactions on the Internet have been increasing exponentially. And such transactions require some reliable and secure payment systems. In fact, one of the key factors in the success of E-commerce is the development of convenient, reliable
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Need an account? Click here to sign up. Download Free PDF. Mohsen Barparoushan. Download Download PDF Full PDF Package Download Full PDF Package This Paper. A short summary of this paper. Download Download PDF. Download Full PDF Package. Translate PDF.
Secondly this thesis work was made possible by the invaluable input of many people and institutions, thesis on electronic payment system. I wish to acknowledge the support and encouragement of my wife Sylvia, my parents and siblings to pursue my interests. I wish to thank my supervisor Jan Svanberg, whose help, suggestions, encouragement and patience helped me in the writing of this thesis.
I also thank Eva Wittbom PhD for her initial tutorials and guidelines as to how to commence and complete a thesis work. I am also indebted to my work colleague David Boateng Phd whose advice and review of this thesis work contributed immensely to its success.
I also wish to acknowledge the contributions from officials of GHIPSS especially, the Chief Operating Officer, Yoku Korsah for taking time off his busy schedule to answer some pertinent questions concerning this work.
Many thanks also go to officials of some of the commercial banks that were contacted to complete questionnaires as well as answer questions.
I thesis on electronic payment system also appreciative of the shops and individuals who responded to my questionnaires. Last but not the least I thank my friends and work colleagues for their support and encouragement. I would also like to express my gratitude to all those who have not been mentioned in this thesis work but assisted in one or many ways to complete this thesis.
In addition, it also attempts to assess the degree of usage of card based payments systems i. e e- zwich, debit and credit cards. Several electronic payment systems have been introduced into the country in recent times with the most significant being e-zwich smart card payment system, a national domestic smart card payment system meant to reduce the large amount of cash held outside the banking system. Questionnaires were also distributed to shops and individuals that use e-zwich and debit cards.
The implementation of e-zwich thesis on electronic payment system have challenges is a step in the right direction for national development.
The study revealed also that e-zwich has the potential to reduce the unbanked in Ghana and is beginning to show some good signs in terms of some good initiatives by GHIPSS.
However, thesis on electronic payment system, more education of the public and the banks is needed to realise its full potential. The major economic thesis on electronic payment system of EPS include mobilizing savings and ensuring most of the cash available in the country are with the banks. This will make funds available to borrowers businesses and individuals. Furthermore, an electronic payment system has the ability to track individual spending; to facilitate the design of products by the banks.
This information is also useful to the government when making economic decisions. EPS also have the ability to reduce cash handling and printing costs. It is therefore an enormous challenge for the government, financial institutions, individuals and other stakeholders responsible for making this thesis on electronic payment system achieve its economic benefits. There are likely to be operational, financial, economic and marketing changes that need to be managed properly.
E-zwich is the brand name for the national switch and smart card payments system. This is an integrated and interoperable payment infrastructure for switching and clearing electronic payments initiated at payment terminals owned by different financial institutions with various types of payment cards.
The E-zwich payment system is the national switch for universal electronic payment system in Ghana. This provides a common platform for most retail payment transactions in the country through the integration of all bank switches thereby enabling interoperability of all ATMS and Point of Sale POS systems 1.
The company also has the responsibility to provide a range of technology driven solutions and associated services which support and contribute to the general efficiency of the Ghanaian payment systems and to provide affordable and convenient access by residents to banking services.
Asokan, et. Modern trends indicate that electronic payment systems have become a significant element in all trade and commerce activities globally. The scope of electronic payments extends from under one dollar to Multi-Million dollar transactions, thesis on electronic payment system.
Despite the benefits that electronic payment systems has brought to other economies such as the western developed countries, economies in Africa, which are still in the early stages of applying electronic payment systems are yet to experience its maximum economic and operational impact.
Ackorlie, Consequently they have been slow to restructure and adapt to the new global economic reality resulting in lost opportunity and diminished competitiveness. Unlike the developed world, electronic payment systems are rare in developing countries like Ghana where cash is still king. Implementing such a system in a developing nation where majority of citizens are used to cash and cheque based transactions requires a lot more effort. Since the implementation of E-zwich payment system in Ghana, which is a national switch and smart card payment system about two and a half years ago, there has not been any due diligence work in this area.
This project creates an opportunity to obtain feedback from the major stakeholders thesis on electronic payment system the challenges they face. This research is intended to identify obstacles that are causing the low patronage of EPS. The thesis also seeks to evaluate or measure the degree or level of usage of e-payments in Ghana. This thesis is more or less a major due diligence exercise for all the major stakeholders in implementing electronic payment systems EPS in Ghana.
An empirical study in this area is expected to inform the stakeholders of how E- zwich and other Electronic payments systems has or has not made any economic impact. The stakeholders involved are GHIPPS, Government of Ghana, Banks, other Financial Institutions and individuals.
E-zwich is an offline payment and thus serves as an implementation of this recommendation. A study in this direction I believe is very important. Furthermore, this research is also expected to increase awareness of the challenges of electronic payments and serve as a guide for future implementation of such systems by developing countries with low level of technological infrastructure.
Details of the methodology can be found in Chapter 3. Study of literature on electronic payments systems and E-zwich. This includes literature on general information on EPS.
This information encompasses types of EPS as well as the benefits. A key feature of this phase is also a thorough review of the challenges of EPS especially in Africa. On the basis of information collected, mainly secondary data, theoretical framework was written in Chapter 2.
The Chief Operating Officer of GHIPSS was interviewed so as to obtain a better understanding of e-zwich. All available data was collected.
The researcher administered the questionnaires and conducted deep interviews along side. This is to collect primary data which is the main source of data for this research work 5. Designing and distribution of questionnaires to ten 10 individual customers of E-zwich with different income levels and responses obtained thereof as well as conducting interviews.
This is a major source of primary data 6. Designing and distribution of questionnaires to ten 10 shops using E-zwich and responses obtained thereof. The researcher administered the questionnaires and conducted deep interviews alongside. A source of primary data. This final phase involved the analysis of data obtained and a final comprehensive report of findings and recommendations written.
This is presented in this current section. Chapter 2: provides an overview of existing literature on Electronic payment systems and E-zwich. Chapter 3: provides details of methodology used in performing this research. Chapter 4: provides research findings and analysis obtained through this methodology. Chapter presents recommendations derived from research findings and analysis as well as conclusions of this work.
At the end of the thesis document, a set of references and appendices are included. Attempts to collect data covering a period of five years was not successful as the banks were unable to provide this information, as a result only electronic transactions covering the current year was available. Vassiliou defines electronic payment as a form of financial exchange that takes place between the buyer and seller facilitated by means of electronic communication. According to Cobb,thesis on electronic payment system, the value of electronic payment goes way beyond the immediate convenience and safety of cards to a greater sphere of thesis on electronic payment system to overall economic development.
There are several payment markets that can be identified each using specific forms of money. This type of payment is also called retail payment. The direct payment between two persons is called person-to- person P2P. Administration-to-consumer A2C payment addresses the payment of taxes toward the government, thesis on electronic payment system.
Finally, the payment intervening between companies buying and those offering products and services is referred to as Business-to —Business B2B Radu This thesis focuses mainly on B2C payments.
In this chapter, thesis on electronic payment system, we will look at some general features of EPS briefly and then focus on the benefits and challenges.
Thus, EPS are designed to address consumers with credit, debit or prepaid payment behaviour. In most existing payment systems, the latter role is divided into two parts: an issuer used by the payer and an acquirer used by the payee, thesis on electronic payment system.
Electronic payment from a payer to payee is implemented by a flow of real money from the payer via the issuer and acquirer to the payee.
Credit card systems fall into this category.
Electronic payment systems and Payment gateways
, time: 4:52Electronic Payment Systems Essay - Free Argumentative Essays For Students
and thus save time. Online payment systems have a very important role in e-commerce and they are used to complete e-commerce transactions. The purpose of this thesis is to introduce current state, the challenges and future expectations of online payment systems in China and Europe and especially in Finland. The theoretical The electronic payment system- the ability to pay electronically for goods and services purchased online- are an integral part of e-commerce and an essential infrastructure for e-commerce models. One of the major reasons for the widespread of e- commerce transactions is perhaps the rapid development and growth of various electronic payment systems May 08, · Electronic Payment Systems Essay. admin May 8, On-line Payment System can be defined as the method used to pay for the purchases of goods and services over the internet. On-line shopping and on-line banking are both good examples of On-line payment Systems. Nowadays it is very important to have these services as they are convenient and people do not have to leave the comfort Estimated Reading Time: 14 mins
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