Thus, time of money based payment framework is slowly blurring out as the cashless economy dominates present day financial systems [59][60]. Lately, online payment system has turned into a. (IJACSA) International Journal of Advanced Computer Science and Applications, Vol. 8, No. 5, Materials and methods In this study/review paper, we give an overview of an electronic payment system, discuss the background history, highlight current available payments system against e-commerce, individual features of each payment system in a tabular form, highlight the security flaws, and finally identify issues, and suggest a solution based on study and blogger.comted Reading Time: 9 mins Literature Revi ew Sanghita R oy, Dr. Indrajit Sinha (). stated that E - payment system in India, has shown tremendous growth, but still there has lot to be done to increase its usage. Still 90% of the transactions are cash based. Technology Acceptance
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Click here to sign up. Download Free PDF. Adoption of e-Payment Systems: A Review of Literature Proceedings of the International Conference on E-Commerce ICoEC Muhammad Auwal Kabir.
Siti Zabedah Saidin. Aidi Ahmi. Download Download PDF Full PDF Package Download Full PDF Package This Paper. A short summary of this paper. Adoption of e-Payment Systems: A Review of Literature. Proceedings of the Available online at www. This is due to its efficiency, convenience and timeliness. It is a payment system that is continuously being embraced and adopted in the financial system of both developed and developing countries with a view to simplify and ease payments in business transactions.
As literature review on online payment systems result, many studies were conducted around the globe by scholars on e- payment adoption, literature review on online payment systems.
It is based on this that this research paper looks at the available past literature on e-payment adoption across the world, literature review on online payment systems, with a view to highlight the scope, methodology and Information System IS models used by previous researchers so as to identify research gaps and recommend such for future studies.
The study employed an extensive literature search on e-payment adoption with the aid of Google Scholar for those recent studies between the years Finally, the paper has identified the patterns of previous researches with regards to these three items and further highlights and recommends key areas in which future research should delve on.
Keywords: E-Payment, E-Commerce, Cashless Economy 1. Generally, electronic and operations of individuals and organizations payment can be defined as a platform used in respectively. and enhanced organizational performance Ali, Also, the global payments system is gradually changing from coins proliferation of the internet and its rapid use over and paper based money to electronic forms that the years had contributed much in facilitating provide more convenient, fast and secured process electronic commerce in global business environment of making payments among individual and Fernandes, Similarly, the global annual non-cash transactions Consequently, as transactions among business being facilitated by e-payment and mobile payment partners continue to proffer on the e-commerce m-payment had been on the increase over the platform, an electronic payment solution emerged years, except for where it decelerates from an to replace the former cash-based payment systems annual growth rate of 8.
The advent of this development in World Payment Report, com Copyright © The Authors. E-payment systems are important mechanisms used This led to wide and in-depth researches that by individual and organizations as a secured and produced different perspectives on e-payment convenient way of making payments over the definitions among others.
In addition, it has business technology to those in information also become the major facilitating engine in e- systems. For instance, Dennis defines e- commerce through which electronic business payment system as a form of financial commitment success relied upon. Electronic payment system had that involves the buyer and the seller facilitated via also brought about efficiency, fraud reduction and the use of electronic communications.
Also, Briggs innovativeness in the world payment system and Brooks sees e-payment as a form of Oladeji, inter-connections between organizations and individuals aided by banks and inter-switch houses Furthermore, e-payment system tends to bring that enables monetary exchange electronically. many electronic modes of payments through which financial institutions offer different e-payment In another perspective, Peter and Babatunde opportunities and services to their customers such viewed e-payment system as any form of fund as the credit cards, debit cards, on-line banking and transfer via the internet.
takes place online between the seller and the buyer. Moreover, Humphrey and Hancock are in the However, much empirical studies had been opinion that electronic payments refer to cash and conducted on e-payment systems with the aim of associated transactions implemented using investigating factors that influence its use and electronic means.
E-payment is also defined as adoption. In view of this, this aim of this paper is to payment by electronic transfer of credit card details, review the findings from such previous studies and direct credit or other electronic means other than to suggest directions for further research in that payment by cheque and cash Agimo, Lin and Nguyen historical development.
Last sections of this paper define e-payment as payments made via the provides an analysis of various empirical studies automated clearing house, commercial card systems conducted on e-payment adoption around the globe and electronic transfers.
Shon and Swatman based on critical issues ranging from methods used, define e-payment as any exchange of funds initiated adapted models, and scope with a view to via an electronic communication channel. Gans and recommend areas that need further research. Scheelings define e-payment as payments made through electronic signals linked directly to 2. E-PAYMENT SYSTEM deposit or credit accounts.
Hord also sees e- payment as any kind of non-cash payment that does 2. Definition of E-Payment not involve a paper cheque. In the literature review on online payment systems two decades, electronic payment systems Also, Teoh, Chong, Lin, and Chua viewed e- EPS have attracted much attention from payment as any transfer of an electronic value of researchers and information system designers due payment from a payer to payee through an e- to their vital role in modern electronic commerce.
In a aspect and Institutional and law aspects. nutshell, literature review on online payment systems by the above definitions, e-payment system can simply be defined as a collection of 3.
payment systems and their future directions, the study employs a meta-analysis literature review on online payment systems of 2. Brief Historical Development of e-Payment research. In statistics, meta-analysis refers to System statistical analysis of large collection of analysed results from individual studies with the aim of The history of e-payment can be traced back to integrating such findings Glass, In other the time when currency was first moved in United words, meta-analysis simply means analysis of States U.
S by the Federal Reserve Bank with aid analyses. As such, this study provides an extensive of telegraph. However, that technology has not literature review search conducted with Google been widely used in US until the time when their Scholar search engine in the month of May for Automated Clearing House ACH was incorporated those researches that were carried out on e- in Since from that time, the electronic payment adoption between the years currency became widespread.
This enabled U. S The use of Google scholar is justified due to its commercial banks and its central treasury with an accuracy, high performance in precision and alternative to cheque payment Graham, Accordingly, the credit cards usage as they have become more search produced a total number of academic acceptable by people as a medium of payment research papers.
Out of this number, 51 of literature review on online payment systems especially in transportation. Initially, credit cards were empirical. For the purpose of this study, these were all paper-based payments, until in the s 51 empirical papers were reviewed on the criteria when such cards were transformed to electronic that they were explicitly on factors that influence e- completely.
Due to the increasing number of credit payment adoption. In the first place, the review was cards usage, the industry has grown rapidly which to establish relevant articles that were published in lead to the introduction of a debit card too. Debit different academic journals and conference and credit cards are now used in transactions proceedings across the globe pertaining to e- payments for all types of purchases and or services payment adoption and secondly, to analyse and rendered all over the world Mohamad et al, literature review on online payment systems.
discuss previous researches with regards to the scope-geographical location of study, methodology 2. This is done with a view to analyse and integrate the previous Generally, there are quite a number of e-payments researches so as to identify research gaps that will services that have been developed within the call for future research.
payment system around the globe. These include electronic cheques, e-cash, credit cards and 4. According to Hsiao-Cheng, Kuo-Hua and Pei-Jen As mentioned earlier, all the previous researchesthere are four major categories of electronic that were reviewed for the purpose of this study payment systems: online credit card payment, were empirical that addressed issues on e-payment electronic cash, electronic cheques and small adoption in different parts of the world, literature review on online payment systems.
Our analysis payments. They further stressed that each of these is based on the onset research guiding principles. systems has its own advantages and disadvantages. These include the scope, literature review on online payment systems, methodology and adapted They further stressed that each type could be IS models. In the first place, Table 1 below shows the assessed through these four distinct qualities viz: analysis of all the 98 papers based on conceptual and empirical and other approach.
Though, literature review on online payment systems, papers categorized as others that were carried out in Asian countries. The scope of the study is Muhayiddin, Ahmed, and Ismail,Bin focusing on published research articles in journal Muhayiddin, Elsadiq and Ismail,; Bin and conference proceedings. Muhayiddin, Elsadiq, and Yeow,Bapat, literature review on online payment systems,Roy and Sinha,Dehbini, Birjandi, literature review on online payment systems, and Table 1.
These include Roy and Sinha, affairs of e-payment system literature review on online payment systems in different and Muhayiddin et al. Many studies such as Alawiye- acceptance of electronic payment system among Adams and Afolabi,Fenuga and Kolade, bank customers in India and the acceptance of Gholami, Ogun, Koh, and ; Ifinedo, electronic dinar payment system in Malaysia ; Nwaolisa and Kasie, Ogunleye, respectively.
This indicates that e-payment systems Adewale, and Alese Ebiringa, are widely adopted and being used in Asian Oyewole, El-Maude, Abba, and Onuh Briggs countries much more than in Middle East and and Brooks,Haruna,Senyo,African countries. This assertion is further supported Antwi, Hamza, and Bavoh,Kagu,by the World Payment Report as it revealed Ngereza, and Iravo,Nzaro,Kavu, that combined Asian countries records Report, literature review on online payment systems, Most of these researches from the African countries Similarly, other researches that were conducted in focused on user acceptability of e-payment system Middle East countries among others include except for Antwi et al.
ThisHamed, and Bether,Shiva, Ebrahimi, literature review on online payment systems, clearly shows that e-payment system is an emerging and GhazizadehHanzaee, and Alinejad, issue in developing countries and need to be studiedTrivedi, and Mago, and Mourad and extensively.
As such, there is need for further Sherif, E-payment systems adoption studies research on how government, financial institutions in this part of the world are closely related to the and other stakeholders in electronic payment ones in African countries on one part and similar to services can influence people to use and adopt e- that of Asia on the other part, literature review on online payment systems. One of the payment platforms in transaction payments and outstanding characteristics of literature review on online payment systems past studies in other payment services.
Similarly, further studies Middle East is that they tried to evaluate the e- could look into payment cultures, demographic and payment system and its effects in organizations. This lifestyle characteristics, readiness of consumers to can be found from the works of Shiva et al. On the other hand, only few studies were found in the developed countries such as the U.
S and Europe. In contrast, only one study had focused on Cheraghi, Mahmoodi, and Nazari, and Ellison, public sector respondents.
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conducted a review of literature conducted with Google Scholar search engine in July amounti ng. to 44, the research conducted on e-payment system on e-commerce between the years Estimated Reading Time: 7 mins Jan 11, · This technology made its commercial debut in the early nineties. Order custom essay Literature Review Online Billing System with free plagiarism report. GET ORIGINAL PAPER. Significant advantage of the CDMA is the fact that unlike other modulation schemes it does not have to allocate part of the frequency for each blogger.comted Reading Time: 11 mins It is based on this that this research paper looks at the available past literature on e-payment adoption across the world, with a view to highlight the scope, methodology and Information System (IS) models used by previous researchers so as to identify research gaps and recommend such for future blogger.comted Reading Time: 11 mins
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