• Journal of Information Technology Applications and Management
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• v.10 no.3
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• pp.93-108
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• 2003

As Electronic Commerce is popularized, crimes related to Electronic Commerce are also increasing, Electronic shopping malls and payment gateways focus their attention on network security of payment information or the sizes of encryption keys, In real world, however, the payment-related crimes in electronic shopping malls are not based on the security hole of encryption mechanism of the payment systems, but on the customers carelessness or the insecurity of server systems of merchants or financial institutes. So, this research analyzes the structure of current electronic payment systems, investigates the payment-related crimes, addresses the structural problems of the Korean electronic payment systems, and suggests an alternative general architecture for secure payment systems by incorporating the concept of separation of order information and payment information.

• Asia pacific journal of information systems
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• v.8 no.3
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• pp.147-163
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• 1998

Advances in information and telecommunications technology are producing unprecedented shifts in the way businesses conduct their business, Today, electronic commerce is becoming pervasive due to, in large part, the widespread use of Internet and Worldwide Web. One element that plays an important role in shaping the success of electronic commerce is the electronic payment system. Deficiency in its reliability and security may lead to unwanted outcomes, including economic losses and customer dissatisfaction. By far, numerous forms of electronic payment systems have been introduced in the virtual marketplace. However, there exists little research that has focused on the characteristics of the electronic payment systems such that they may be compared with one another. This article is aimed at providing a framework for comparative analysis of electronic payment systems, examining the characteristics of the individual payment systems, and suggesting a choice strategy which enables a firm to select an appropriate payment system suited to their business needs. The framework classifies electronic payment systems into four categories including electronic cash, electronic checks, credit cards, and smart cards, and it can be employed in planning for an electronic commerce system.

• Health Policy and Management
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• v.33 no.4
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• pp.379-388
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• 2023

This study aims to propose the implementation of innovative payment models in Korea in order to promote the financial sustainability of the national health insurance system by reviewing the current status of the payment system in Korea and examining other countries' experiences with various innovative payment models. Korea primarily uses a fee-for-service payment system and additionally uses various payment systems such as case payment, per diem, and pay-for-performance. However, each payment system has its limitations. Many OECD (Organization for Economic Cooperation and Development) countries have pointed out the limitations of existing payment systems and have been attempting various innovative payment models (e.g., add-on payment, bundled payment, and population-based payment). Therefore, it is essential for Korea to consider innovative payment models, such as a mixed payment model that takes into account the strengths and weaknesses of each payment system, and to design and pilot these models. This process requires stakeholders to work together to build a social consensus on the implementation of innovative payment systems and to refine legal and systematic aspects, develop an integrated health information system, and establish dedicated organizations and committees. These efforts towards innovative payment models will contribute to developing a sustainable health insurance system that ensures the public's health and well-being in Korea.

• 한국디지털정책학회:학술대회논문집
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• 2004.05a
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• pp.545-558
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• 2004

Payment Systems is one of critical infrastructures, which is increasingly dependent on IT. Failure to provide the payment services can bring disaster to national economy, which is the reason why business continuity of payment system receive much attention these days. Payment Systems are complex systems, which consist of multiple players: central bank, commercial banks, clearing house. The main purpose of this paper is to propose some business continuity strategies for the payment systems. First, in order to provide financial stability, this paper clarifies the concepts of business continuity plan(BCP). Second, this paper illustrates the processes to come up with business continuity strategies for the payment systems based on risk analysis and business impact analysis. Business continuity strategies are proposed in terms of two dimensions: vertical and horizontal.

• Asia pacific journal of information systems
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• v.32 no.3
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• pp.630-655
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• 2022

This paper examines the integrated QR code payment service (QRIS) adoption by retailers in Indonesia. Indonesia started its cashless journey in 2017 by using electric money in card form. As the country keeps developing, Indonesia has planned to integrate its payment towards a cross-border payment using QR codes by 2025 in the South East Asian region. Facing government vision, MSMEs that act as the significant economy wheel in Indonesia was required to be prepared to face the multi-cultural, multi-currency, and the new tech innovation for doing transactions. However, as a developing country, Indonesia faced significant problems with its infrastructure, which made it hard for merchants to access digital payment. As infrastructure was a common problem for developing countries, Indonesia also faced financial inclusion, lack of digital knowledge, a high amount of cash use, and socialization that made low digital payment penetration. Therefore, as there was a need to increase digital payment penetration for ASEAN integrated payment, this study found that merchant compatibility, facilitating conditions, trust, and relative advantages are drivers for MSMEs using this payment method. Further, this research provides propositions for banks, financial institutions, and governments to develop and evolve towards a cashless ecosystem, especially for a country lacking infrastructure.

• Journal of Korea Society of Digital Industry and Information Management
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• v.12 no.3
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• pp.259-271
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• 2016

This study develops an extended model to predict customer satisfaction in easy payment systems based on information systems success model. Our data was collected from easy payment systems users and analyzed using PLS. This study selected four variables as easy payment systems characteristics(convenience, variety, security, speed) along with gender being used as a moderating variable. The results showed that convenience and security are turned out to affect customer satisfaction. Additionally, the test of difference in gender revealed that with respect to gender, moderating effects exist in security and speed. This implies that this study can provide different promotion strategies according to gender. Overall, the proposed model could be used to predict customers' willingness to pay on the easy payment systems.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.10
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• pp.323-328
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• 2020

This study aims to analyze the changes in purchasing decisions in conducting transactions using cash and digital payment systems. Cash payment systems are very different from digital payments because they no longer use banks as intermediaries for transactions. The scope of this study is to determine the differences that take place with purchasing decisions using digital payment systems with OVO Indonesia smart applications. By using the paired T-test sample test method and testing the regression class assumptions, it is expected we will document the comparison between cash and digital payment systems as regards changes in consumers' buying interest behavior towards goods. Data is obtained by purposive sampling using special characteristics for smart application users. The results show that digital payments are developing very quickly, but cash payments still dominate due to the unavailability of complete facilities and infrastructure to support digital payment systems other than in cities. This study illustrates that digital payments have not been able to completely change consumer buying behavior in large numbers, but the main finding in this study is an increase in the percentage of digital payment usage to the online market, due to the many conveniences provided in OVO smart applications.

• 한국경영정보학회:학술대회논문집
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• 2007.06a
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• pp.646-651
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• 2007

Secure digital payment is critical in the successful shaping of global digital business. Digital payments are increasingly being used as a substitute to traditional payments, contributing markedly to the efficiency of the economy. The focus of every digital business transaction is to minimize risks arising from transactions. It is essential to ensure the security of digital payment whether used in internal networks or over wireless Internet. This paper analyses secure digital payment methods from the viewpoint of systemic security and transaction security. According to comparative analysis of digital payment models, this paper proposes a comparative analysis framework to investigate and evaluate secure digital payment. In conclusion, the comparative analysis framework, comparison of digital payment models and mobile payment models proposes a useful academic and practical foundation to enhance the understanding of secure digital payment methods. It also provides academic background and practical guidelines for the development of secure digital payment systems.

• International Journal of Computer Science & Network Security
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• v.24 no.3
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• pp.1-11
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• 2024

Payment systems are evolving, and this study examines how blockchain and AI improve online transactional security and service quality. The study examines micro and macro payment systems, compares online, and offline methods all over the world. The study also examines how blockchain and AI affect payment system security, privacy, and efficiency globally and rapidly digitizing economy. Digital payment methods are growing all over the world with high literacy and digital engagement, but they face challenges. The research highlights cybersecurity threats and the need to balance user convenience and security. It suggests blockchain and AI improve online payment services, supporting the policies for different countries. In this extensive research survey, we compare and evaluate the strengths and weaknesses of various payment systems, their practicality, and their robustness. This study also examines how technological innovations and payment systems interact to reveal how blockchain and AI could transform the financial sector. It seeks to understand how technology-enhancing service quality can boost customer satisfaction and financial stability in the digital age. The findings should help policymakers, financial institutions, and technology developers optimize online payment systems for a more secure and efficient digital economy.

• Asia pacific journal of information systems
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• v.31 no.1
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• pp.76-101
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• 2021

Digitalization and digital transformations have metamorphized the face of Financial Inclusion globally, more so, in cash obsessed economies like India. The purpose of our study is to empirically analyze the users' intention to adopt digital payment systems, post Demonetisation, during the COVID-19 pandemic in India. The conceptual framework for the study is based on the Unified Theory of Acceptance and Use of Technology (UTAUT) adoption model with added operationalized constructs of Perceived Risk and Stickiness to use Cash. A total of 326 respondents were surveyed using a pre-tested questionnaire during the Nationwide Lockdown 3.0 in India. These responses were analyzed using Partial Least Squares - Structural Equation Modelling (PLS-SEM) technique. The findings of the study revealed that performance expectancy and facilitating conditions directly influence the intention of individuals to use digital payment systems, whereas the effect of perceived ease of use on digital payment systems is mediated through the attitude towards the digital payment systems during COVID-19 pandemic situation. Implications of the proposed adoption model are discussed. This will enable the other developing economies to formulate a digital ecosystem, that is here to stay even after the pandemic.