Title: Mastering the Literature Review on Electronic Payment Systems
In the realm of academic research, a literature review stands as a crucial component, offering a
comprehensive overview of existing knowledge, theories, and findings related to a specific topic.
However, navigating through the vast sea of scholarly articles, books, and other sources can be a
daunting task, particularly when delving into intricate subjects like electronic payment systems.
Crafting a literature review on electronic payment systems requires more than just summarizing
existing literature. It demands meticulous attention to detail, critical analysis, and the ability to
synthesize diverse perspectives into a coherent narrative. From exploring the historical evolution of
electronic payment systems to examining the latest advancements in fintech, every aspect must be
thoroughly researched and evaluated.
One of the primary challenges of writing a literature review on electronic payment systems is the
sheer volume of available literature. As electronic payment methods continue to evolve and
proliferate, staying abreast of the latest research findings and industry trends can be overwhelming.
Moreover, the interdisciplinary nature of this topic necessitates delving into fields such as
economics, computer science, finance, and sociology, adding another layer of complexity to the
review process.
Furthermore, ensuring the credibility and relevance of the selected sources is paramount. With the
abundance of information available online, distinguishing between reputable scholarly sources and
dubious publications can be challenging. Scrutinizing each source for its reliability, validity, and
applicability to the research topic is essential to maintaining the integrity of the literature review.
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Mobile payment technologies are mostly adopted by millennials. It's like a masterclass to be explored
at your own pace. 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.
The study also aimed at determining the service quality of banks operative in India with regards to
internet banking. Percentage and number of studies conducted in each category of Digital Payment
Technologies. Though, papers categorized as others that were carried out in Asian countries. The
study also included comparisons between mobile and traditional payment services. Editors select a
small number of articles recently published in the journal that they believe will be particularly. Online
payment can be seen from its capacities as e-banking. Embed Host your publication on your website
or blog with just a few clicks. In this chapter, you will learn about:. (1) Revenue models. However,
despite the numerous benefits, there are a lot of challenges associated with digital payment
technologies. The next section presents the research background, including the definition of digital
payment technology and other related terms used in the review context, as well as related work,
which identifies the research gap and rationale for this review. OPERA addresses the limitations of
other e-payment systems in terms of maintaining the key features of offline cash payments. The
survey has identified a significant increase in the overall proportion of customers planning to change
their bank. Therefore, instead of focusing on the technological specifications of various electronic
payment systems, the researcher have distinguished electronic payment systems based on what is
being transmitted over the network; and analyze the difference of each electronic payment system by
evaluating their requirements, characteristics and assess the applicability of each system. There is
evolution in development of internet banking. Step 5: Quality Screen —The 74 eligible articles
selected through the previous step were then screened for quality by closely reading through the
content (full text) of each article. Cousin of Disability of Indian Banking Intensive Among
Liberalisation. Businesses prefer digital payments because handling cash is expensive for them as it
incurs expenses in obtaining cash from banks, reconciling the cash at the end of each day, storing
cash and transferring the cash back to their bank accounts. Available online: (accessed on 8
November 2022). Statista. 2021 Digital Payments Report. The categorization of digital payment
technology challenges into key themes and highlighting key findings under each challenge theme
will help practitioners, such as bank directors and policy makers, to advance their understanding of
digital payment technological challenges in various cultural settings and dynamics. Democracy is
known as the finest form of government. They found that security concerns related to e-banking and
mobile banking, i.e., monetary loss due to transaction error or bank account misuse, led to a “lack of
trust”. Brief Historical Development of e-Payment research. Compared to handling cash, which does
not cost anything for consumers, digital payment technologies, such as digital wallets from banks,
incurred monthly fees for simply using the payment technology. Siti Zabedah Saidin. Aidi Ahmi.
Download PDF Download Full PDF Package This paper. However, there are some mobile payment
technologies specially designed for mobile phones. Identify some of the major challenges companies
must overcome to succeed in e-commerce. According to Yuqing and Guangjun 2010, mobile
marketing increases quickly because of the popularity of smart portable devices and advances in
wireless technologies.
Resources Dive into our extensive resources on the topic that interests you. Pay for tracking, sense of
insecurity to user ??????(??). The following is a list of some easy topic ideas for students to write a
thes. They are relatively new and characterized by persistent growth over time with potential socio-
economic impacts. These are virtual wallets, which provide great convenience and more secure
financial services to the consumers. Their research shows that anonymity is the most criticized
characteristic of cryptocurrencies, which is likely to make it unpopular among consumers. The
Electronic Banking Revolution in India 2019-01-23. This winner presents a huge review of 165
fraction articles cared on the adoption of. E-payments can be accessed either online through an e-
payment website or online applications using, e.g., a laptop, tablet or desktop computer, while a
mobile payment technology can be installed on a mobile device as an application and allows for “tap
to pay” while shopping, often using an NFC chip. Eighty-one banks in Denmark are in partnership
with the Swipp network and it is integrated with the mobile banking app of each of the participating
banks. The studies highlighted security breaches and lack of protection against fraud and
cyberattacks as reasons for reducing consumers’ use of digital payment technologies. Debit different
academic journals and conference and credit cards are now used in transactions proceedings across
the literature review on online payment system 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. This level of interaction is limited to e-mail, account inquiry, loan application, static
file updates and it permits no fund transfer. Data Availability Statement Not Applicable, the study
does not report any data. Example 1: Travelocity.COM. Example 1: Travelocity.COM. Articles
selected through (Step 4 and 5)—practical and quality screening. 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.
Therefore, it is necessary to have a separate payment mode on mobile payments, which is described
in Section 4.1.3. As shown in ( Table 5 and Figure 2 and Figure 3 ), 22 studies out of 58 focused on
e-payment technologies in countries, such as India, Sweden, Zimbabwe, Italy, Nigeria, Ukraine,
Indonesia, China, Jordan and the UK. It was further stated that people should be educated with
information relevant to the application of digital payment systems and their security concerns. Other
issues related to digital payment technologies include the cost of using the technology. Tropical
Medicine and Infectious Disease (TropicalMed). Step 3: Literature Search —This step shows the
search process and initial selection of papers, including the keywords and databases used, the
applied delimitation criteria set in Table 2 above and the number of articles found through the search
process (see Table 3 ). Statista Digital Market Outlook. 2021. Available online: (accessed on 8
November 2022). Khando, K.; Islam, M.S.; Gao, S. Factors Shaping the Cashless Payment
Ecosystem: Understanding the Role of Participating Actors. Through the usage of mobile devices,
mobile banking allows customers to perform various banking activities. 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. 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. Grey literature e.g.,
published book chapters, Lecture notes. This study offers some insight for future researchers in the
field of digital payments, by (1) complementing previous literature review studies on digital payment
technologies, (2) highlighting challenges associated with digital payment technologies and (3)
providing a ground for building a sound digital payment ecosystem to overcome the challenges with
digital payment technologies. Articles selected through (Step 4 and 5)—practical and quality
screening. Health care, Illness, Medical terms 1044 Words 4 Pages How to do literature review.
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, literature review on online payment system, e-payment system tends to bring
that enables monetary exchange electronically. Dr. John Sum Institute of Electronic Commerce
National Chung Hsing University. Reference. K.Laudon and J.Laudon, Management Information
Systems, 9th ed., Prentice Hall, 2006. With online shopping gaining popularity, e-payment
technologies are the most-used payment technologies. The Emerging Technologies of Digital
Payments and Associated Challenges: A Systematic Literature Review. Articles on challenges
associated with Digital payment technologies Exclusion criteria. Additionally, the articles’ practical
and theoretical contributions were assessed and studies with clear and valid contributions were
included. The use of NFC in mobile payment technology has gained popularity mainly because it is
fast, efficient and reliable. Multiple requests from the same IP address are counted as one view. The
benefits of using digital payment technologies go beyond convenience. Contents
OnlinePaymentBasics Credit card Electronic Cash Electronic Check ??????(??)??? III. In total, 26
articles were weeded out in this step and only 74 articles were considered for quality screening in the
next step (see Table 4 ). Therefore, as firms embrace these new changes, we will become more
engaged and aligned with their customer payment journeys. It was further stated that people should
be educated with information relevant to the application of digital payment systems and their
security concerns. Different manufacturer of software development is compatible and
interoperability function ??????(??)??? 3. The majority of the studies (39%) covered the technical
challenges in digital payment technologies (32 studies). The study includes only empirical articles;
thus, conceptual papers, such as literature reviews and book chapters, are to be excluded. Digital
wallets use electronic devices, e.g., Apple Pay is only available on Apple devices and Samsung Pay is
on Android, whereas PayPal is on both Apple and Android devices. Anonymous b. Do not follow c.
Save transaction costs d. Before years include 2006-07, 2007-08, 2008-09, 2009-10 and after years
include 2010-11, 2011-12, 2012-13, 2013-14. Since only empirical studies were included in this
study to ensure the quality of the review, the quality screening mainly judged the methodological
validity and reliability of the findings. GIFs Highlight your latest work via email or social media
with custom GIFs. We provide guidelines for selecting an e-credit provider and highlight the options
that apply best to online businesses. As COVID-19 accelerates the digital shift, new regulatory
initiatives and industry changes are fostering innovation, which is boosting trust, increasing
collaboration and stemming pandemic-driven uncertainty. Categorization of digital payment
technology challenges. The COVID-19 pandemic brought the payment industry to this new normal.
These payment systems have numbers of requirements: e.g. security, acceptability, convenience, cost,
anonymity, control, and traceability. Empirical studies conducted on digital payment technologies. It
includes offering of information and selected services through the World Wide Web by banks and
other financial service firm. It was further confirmed that Bitcoin investment can be improved by
legislation and the value of Bitcoin can be recognized and can become a legal investment only if it is
supported by legislation. It is important to note that digital payments are not simply about
technology.
Therefore, as firms embrace these new changes, we will become more engaged and aligned with
their customer payment journeys. E-commerce benefited many organizations by reducing supplier
cost and increasing profit. Apart from cost, there is also a challenge of digital payment technologies
being transparent and traceable. International Journal of Translational Medicine (IJTM). This study
offers some insight for future researchers in the field of digital payments, by (1) complementing
previous literature review studies on digital payment technologies, (2) highlighting challenges
associated with digital payment technologies and (3) providing a ground for building a sound digital
payment ecosystem to overcome the challenges with digital payment technologies. Thus, future
systematic reviews could focus more on studies conducted with other methods where data are
collected through case studies, interviews, experiments, observations, etc. All card payment
technologies are regarded as easy and convenient ways of making payments. Their qualitative study
that explored the banking experiences of 23 people over eighty years old found that the case for
retaining and enhancing physical cheques is stronger. Out of 58 studies reviewed, 28 studies ( Table 5
and Figure 2 and Figure 3 ) investigated emerging mobile payment technologies. For example,
Bitcoin, as an emerging digital payment technology, is revolutionary in financial markets. There is
evolution in development of internet banking. Businesses prefer digital payments because handling
cash is expensive for them as it incurs expenses in obtaining cash from banks, reconciling the cash at
the end of each day, storing cash and transferring the cash back to their bank accounts. Swish is not
available for use on laptops or desktops. Similarly, further studies Middle East is that they tried to
evaluate the e- could look into payment cultures, literature review on online payment system and
payment system and its effects in organizations. During title screening and prior to downloading the
article. They focused on the impacts of the social and cultural aspects of mobile payment methods.
The following are good persuasive essay examples for high school. Having a. E-payments can be
accessed either online through an e-payment website or online applications using, e.g., a laptop,
tablet or desktop computer, while a mobile payment technology can be installed on a mobile device
as an application and allows for “tap to pay” while shopping, often using an NFC chip. Most
cryptocurrencies are decentralized networks based on blockchain technology and are secured by
encryption. Grey literature e.g., published book chapters, Lecture notes. Evidence from small-scale
merchants in Jaipur, India. The Emerging Technologies of Digital Payments and Associated
Challenges: A Systematic Literature Review. Digital wallets use electronic devices, e.g., Apple Pay
is only available on Apple devices and Samsung Pay is on Android, whereas PayPal is on both Apple
and Android devices. Digital payments expand the potential customer base for merchants, reduce
cash-handling costs and bring many informal shadow economies to the fore, increasing tax revenues
for governments. Empirical studies conducted on digital payment technologies. It is a more
conventional form of payment compared to other categories, such as e-payments, mobile payments
and cryptocurrencies. For example, millennials’ choice of payment technologies depends on how
much they trust the ability of digital payment technologies to protect their privacy. Therefore, instead
of focusing on the technological specifications of various electronic payment systems, the researcher
have distinguished electronic payment systems based on what is being transmitted over the network;
and analyze the difference of each electronic payment system by evaluating their requirements,
characteristics and assess the applicability of each system. Out of 58 studies, 20 studies mentioned
social challenges associated with digital payment technologies, such as trust, impersonalization (no
human touch), risks, adoption, demands, culture, satisfaction, loyalty, social media impact, user
perception and acceptance by age group (see Table 6 ). Authentication, Bank, Computer security
1461 Words 5 Pages Questions frequently asked about the literature review: What are the topics.
Finally, we outline potential areas of future research and provide a simple tutorial on creating a
business account with PayPal website Payments Standard as an example of an online payment
provider. Percentage and number of studies conducted in each category of Digital Payment
Technologies. However, there are some mobile payment technologies specially designed for mobile
phones. Adolescence is typically a time of great strain on the body, mind and emotions. For example,
in India, small retail merchants are reluctant to use digital payment technologies because of potential
tax implications. This initiative was pioneered by business managers and owners to know more about
the potency of the internet including how it supports payments from one place to the other. Thus,
the study recommended measures to enhance the privacy protection features of Bitcoin, which
ultimately helped in reducing the concerns raised over the privacy issues of Bitcoin. The Impact of
Financial Macroeconomic Indicators on Mobile Money: An Empirical Evidence of GCC Countries.
In the last 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. Social Posts Create on-brand social posts and Articles
in minutes. The study found that electronic wallets have emerged as one of the most popular digital
payment methods and gained more attention from researchers. The Emerging Technologies of Digital
Payments and Associated Challenges: A Systematic Literature Review. Thus, the DCCs are used for
some transactions within a particular group of geographical locations or interest. With online
shopping gaining popularity, e-payment technologies are the most-used payment technologies.
Download Free PDF. Adoption of e-Payment Systems: A Review of Literature Proceedings of the
International Conference on E-Commerce ICoEC Muhammad Auwal Kabir. This is mainly because
several studies were conducted during the period of demonetization to empirically examine the
adoption of digital payment systems to provide valuable insights to economists, policy makers and
payment service providers. The other form of cryptocurrency is virtual currency, referring to
unregulated digital money created and owned by its developers and adopted by virtual community
members. Next Article in Special Issue Future Internet Architectures on an Emerging Scale—A
Systematic Review. However, despite the numerous benefits, there are a lot of challenges associated
with digital payment technologies. International Journal of Translational Medicine (IJTM). In this
chapter, you will learn about: The basic functions of online payment systems The use of payment
cards in electronic commerce The history and future of electronic cash. Third-Party 7.Credit Card
Info. Third-Party Bank Confirm Payment 1.Credit Card Info. 2.Account 4.Account 5.Authorization
3. Purchase Order and Account Card Holder Merchant 6.Confirm Order Figure 1: Contract with a
third-part to handle credit card payment processing ??????(??)??? 1. Therefore, instead of focusing
on the technological specifications of various electronic payment systems, the researcher have
distinguished electronic payment systems based on what is being transmitted over the network; and
analyze the difference of each electronic payment system by evaluating their requirements,
characteristics and assess the applicability of each system. Subsequently, we evaluate the competitive
environment within which the first generation of micropayment systems operated and their eventual
waterloo. Next Article in Journal A Novel NODE Approach Combined with LSTM for Short-Term
Electricity Load Forecasting. Contents OnlinePaymentBasics Credit card Electronic Cash Electronic
Check ??????(??)??? III. Keywords: E-Payment, E-Commerce, Cashless Economy 1. The
classification and categorization of payment technologies and associated challenges can be useful to
both researchers and practitioners to understand, elucidate and develop a coherent digital payment
strategy. From the review results, the digital payment technologies were classified into four modes of
payment methods: card payments, e-payments, mobile payments and cryptocurrencies. SET Protocol
Acquiring Bank 3.verify 4.Approve 2.verify 5.Confirm Issuing Bank Certificate Online Merchant
Certificate 6.Confirm 1.Order Card Holder Certificate Figure 3:Credit card payment processing
based on SET Protocol ??????(??)??? 3.
The challenges are classified into five main themes ( Figure 4 and Table 6 ), namely social, economic,
technical, awareness and legal. 4.2.1. Social Challenges Social challenges of digital payment
technologies are associated with social influence, which is connected to a person’s feelings that their
friends and acquaintances think that they must use certain technologies. Articles Get discovered by
sharing your best content as bite-sized articles. The Emerging Technologies of Digital Payments and
Associated Challenges: A Systematic Literature Review. In this chapter, you will learn about:. (1)
Revenue models. In order to be human-readable, please install an RSS reader. For example, in order
to curb the black money business, India encouraged electronic payments and enabled the nation to
move towards a cashless society. By systematically reviewing existing empirical studies, this study
puts forward the state-of-the-art classification of digital payment technologies and presents four
categories of digital payment technologies: card payment, e-payment, mobile payment and
cryptocurrencies. Out of this number, 51 of them especially in transportation. Thus, future systematic
reviews could focus more on studies conducted with other methods where data are collected through
case studies, interviews, experiments, observations, etc. Confirm Info. Figure 2: Simple encrypted
credit card payment processing ??????(??)??? 2. Apart from cost, there is also a challenge of digital
payment technologies being transparent and traceable. Illustrating Systematic Review Process (Okoli
and Schabram, 2010). ThisHamed, and Bether,Shiva, Ebrahimi, 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. Empirical studies only: Peer-reviewed
research articles (final stage), conference proceedings and reviewed papers (in English language)
Without time-frame restrictions. Different manufacturer of software development is compatible and
interoperability function ??????(??)??? 3. 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. Automated teller machine, Bank, Credit union 1032 Words 4 Pages I.
The Emerging Technologies of Digital Payments and Associated Challenges: A Systematic Literature
Review. Immediately after opening login screen will appear on screen. 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,
literature review on online payment system, e-payment system tends to bring that enables monetary
exchange electronically. Fullscreen Sharing Deliver a distraction-free reading experience with a
simple link. Editors select a small number of articles recently published in the journal that they
believe will be particularly. Journal of Manufacturing and Materials Processing (JMMP). It was found
that the majority of the studies (39%) covered technical challenges. Other popular payment
technologies include mobile payments, e.g., mobile e-wallets, such as Apple Pay, PayPal, Samsung
Pay and Google Pay. These include the scope, methodology and adapted They further stressed that
each type could be IS models. They are relatively new and characterized by persistent growth over
time with potential socio-economic impacts. Studies present quality arguments with reliability and
validity. These studies were conducted in various countries, such as India, Sweden, USA, Indonesia,
6 GCC (Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Bahrain, and Oman), Denmark and
Kyrgyz Republic. All card payment technologies are regarded as easy and convenient ways of
making payments.
