Payment Systems

This article explores the transformative potential of Blockchain and distributed ledger technologies (DLT) in Afghanistan's financial sector, amid a backdrop of systemic instability, infrastructural gaps, and geopolitical constraints. Drawing on an extensive review of digital banking development, expert interviews, and comparative global experiences, the study critically assesses Afghanistan's readiness to adopt Blockchain as a tool for financial inclusion, transparency, and institutional resilience. Although the formal banking system has largely regressed post-2021, grassroots crypto adoption reflects a latent readiness for decentralized solutions. The paper argues for a strategic, phased approach to Blockchain integration through regulatory reform, stakeholder engagement, and pilot implementations, particularly in land registration and remittance processing.

Makalah ini membahas digitalisasi ekonomi syariah dalam konteks perkembangan teknologi global dan transformasi digital. Globalisasi teknologi, khususnya melalui gadget dan internet, telah memunculkan era ekonomi baru yang mengubah pola transaksi dan model bisnis. Ekonomi syariah dituntut untuk beradaptasi dengan perubahan ini melalui pemanfaatan digitalisasi dalam berbagai aspek, seperti e-banking, e-payment, e-commerce, dan layanan keuangan berbasis syariah lainnya. Digitalisasi memberikan peluang besar bagi pertumbuhan ekonomi syariah di Indonesia, negara dengan mayoritas penduduk muslim, sekaligus menuntut kesiapan dalam literasi digital, infrastruktur, dan keamanan informasi. Makalah ini menegaskan bahwa digitalisasi ekonomi syariah bukan sekadar pilihan, melainkan kebutuhan strategis untuk menjaga daya saing, meningkatkan inklusi keuangan, serta memastikan keberlanjutan ekonomi berdasarkan prinsip syariah.

It is known that attitude plays a significant role in consumer decision process whether to adopt new technology or not. Differences in attitude towards a product or a service depend on the nature of the product, individuals and the duration in which the product has been in the market. Based on the Technology Acceptance Model (TAM), the current research study investigated the influence of gender, perceived ease of use, perceived usefulness, trust, social norm, computer confidence on attitude towards e-banking and intention to start or continue using internet/cell phone banking among company ABC customers. Company ABC is a South African-based financial institution which was officially launched in January 2015. With the benefits of e-banking outnumbering the benefits of cash, company ABC started accepting electronic payments only in 2015, and opened for cash transactions in 2016. The need to understand factors impacting on consumers' attitude and behaviour towards using technology motivated the researcher. A quantitative approach was used with the aim to understand the attitude of consumers towards e-banking. 207 participants took part in the study. The sample was made up of customers from company ABC. The e-banking attitude questionnaire consists of six scales measuring perceived ease of use, perceived usefulness, subjective norm, attitude, computer confidence, and intention to start to use or continue using e-banking. To measure the impact of computer confidence on attitude towards e-banking, a standardized computer attitude scale was adapted from a computer attitude scale which was developed by Loyd and Loyd (1985). Statistical analyses software packages such as SPSS (version 23) and LISREL (version 8.80) were utilised to measure the relationship between independent and dependent variables. The comprehensive measurement model was assessed by means of item parcelling. Both measurement and structural models showed good fit. iv Item and dimensional analyses were conducted on the scales to identify poor items and ensure the uni-dimensionality of the subscales before calculating item parcels. T-test was conducted to determine whether gender differences exist in terms of attitude towards internet/cell phone banking. Regression analysis was used to identify significant predictors of attitude towards internet/cell phone banking. The hypotheses were analysed through structural equation model using the LISREL 8.80 software. It is observed from the study that there are significant positive relationships between customers' attitude, trust in the e-banking system, subjective norm, perceived ease of use, perceived usefulness, computer confidence and intention to start or continue using ebanking. The results indicated perceived ease of use as a major predictor of attitude towards e-banking, explaining 35% of the variance, whilst perceived useful explained

Healthcare insurance processes millions of claims daily, which makes it a prime target for fraud and errors. Due to the mistakes, there has been a massive increase in health insurance costs in recent years, and it's because of the payment errors made by the insurance companies while processing the claims. We describe a technology that helps detect fraud and prevent errors using machine learning. Machine Learning techniques such as Supervised and unsupervised learning, natural language processing, and deep learning analyze vast datasets to identify patterns, anomalies, and inconsistencies in claims data. Payment Errors made by insurance companies while processing claims often result in reprocessing of the claims. The extra work to reprocess the claims is known as rework. Machine Learning improves accuracy, reduces costs, streamlines claims processing, and improves customer satisfaction. In the future, Machine Learning will have the potential for realtime decision-making and greater collaboration across the industry.

Digital Payments in the USA are revolutionizing, and to be ahead in the growing sector, it is essential to understand how digital payments in the USA work, which is significantly different from how some other countries, like India, process payments. At the core of USA digital payments is the Authorization and Capture, which is not followed in countries like India. This article will summarize core digital payment concepts and provide an overview of how digital payments work in the USA. We will review Payin, Payout, Refund, Authorization Reversal, Void, Chargebacks , and Reversal Adjustments. The article will then explain payment flows in offline and online environments. It will then introduce advancements in online payments, which use merchant-initiated captures along with partial voids, partial Capture, and partial refunds. This article will focus only on credit and debit card transactions. In the future, the article will discuss 1) wallet-based transactions such as Apple Pay, Google Pay, Venmo Card, 2) Account-to-Account transfers or p2p transfers such as Zelle, Venmo Wallet, 3) Settlement, Payout, Chargebacks & Reconciliation in more detail.

The study assesses the moderating significance of financial rules on SMEs in Cameroon as well as the qualitative analysis of the variables influencing the use of online mobile loans. The purpose of this study was to ascertain the relationship between the TAM factors (Perceived Ease of Use, Usefulness, Perceived Risk, Trust, Behavioural Intention, and Knowledge of Technical Infrastructure) and the impact of financial laws on SME intents to use mobile money in Cameroon. he TAM, UTUAT, PB, and financial liberalization theories that support them form the foundation of the study's literature. A qualitative analysis was employed in the investigation. Six experts in the field of mobile money were interviewed in-depth to get their ideas and points of view. The data analysis procedure made use of Atlas TI-22. The research illustrates how various technology innovations, such mobile money lending services, may streamline community and financial system financial management processes. The study's qualitative results showed that while PU and PR had little effect on the relationship under consideration, PEU, TR, BI, and ATI variables had the biggest influence on respondents' willingness to utilize online mobile loans. The results of qualitative research also show that FR positively modifies trust (TR) and the propensity of the relationship to utilize online mobile loans. By offering theoretical advancements and remedies to enhance financial inclusion and financial literacy, the research contributes to theory. In addition to client security and privacy safeguards, the research recommends authorization, certification, and service deployment to ensure the smooth operation of the service.

Introduction. The modern payment system has evolved dramatically over the past
few decades, fueled by technological advancements and the global trend toward
digitization. Digital finance, fintech, and mobile banking solutions have revolutionized
transaction processes for individuals, institutions, and governments. This paper provides
an in-depth review of modern payment systems, focusing on their emergence, the
role of innovations such as mobile wallets, UPI, QR-code payments, and the impact of
the COVID-19 pandemic.
Materials and Methods. This study combines a systematic literature review (SLR)
with bibliometric analysis to examine existing research trends, innovations, and
academic impacts related to modern payment systems. The SLR synthesizes
theoretical and empirical research, while bibliometric analysis, using tools like
VOSviewer and Bibliometrix, identifies key trends, prolific authors, and influential
studies within the domain.
Results of the study. Recent studies highlight the integration of technologies like
blockchain, UPI, and mobile payments into financial ecosystems. The COVID-19
pandemic has further accelerated the adoption of contactless payment methods,
driving a shift in consumer behavior. The research emphasizes the importance of
digital inclusion, with mobile payments and digital banking solutions contributing to
financial accessibility, especially in underbanked regions.
Implications for Future Research. The paper identifies critical research gaps in digital
payments, particularly concerning security, user trust, and regulatory frameworks.
Future studies should explore the implications of Central Bank Digital Currencies
(CBDCs) and blockchain on global financial systems.
Conclusion. Modern payment systems have substantially changed financial
transactions globally. While they offer immense potential for fi nancial
inclusion, they also introduce challenges related to security, data privacy, and
technological access.

AI models used for fraud detection are constantly updated to tackle new threats, but their explanation methods often stay
static, leading to outdated or misleading interpretations. This research explores how adaptive explainable AI (XAI) can generate real
time, accurate explanations that evolve alongside the models they describe. We introduce a framework for self-updating narrative
generation, combining retrieval-augmented generation (RAG) and meta-learning to ensure explanations stay aligned with the latest
model behavior and emerging fraud patterns. Testing on real-world transaction data, we compare adaptive narratives against traditional
static explanations, measuring robustness, response time, and user understanding. Our results show that adaptive XAI not only preserves
transparency in fast-changing fraud environments but also builds stronger trust among users, auditors, and regulators. This work offers
a practical solution for real-time interpretability in AI-driven fraud detection-a critical need for deployable, trustworthy systems

AI models used for fraud detection are constantly updated to tackle new threats, but their explanation methods often stay static, leading to outdated or misleading interpretations. This research explores how adaptive explainable AI (XAI) can generate realtime, accurate explanations that evolve alongside the models they describe. We introduce a framework for self-updating narrative generation, combining retrieval-augmented generation (RAG) and meta-learning to ensure explanations stay aligned with the latest model behavior and emerging fraud patterns. Testing on real-world transaction data, we compare adaptive narratives against traditional static explanations, measuring robustness, response time, and user understanding. Our results show that adaptive XAI not only preserves transparency in fast-changing fraud environments but also builds stronger trust among users, auditors, and regulators. This work offers a practical solution for real-time interpretability in AI-driven fraud detection-a critical need for deployable, trustworthy systems.

In the era of digital transformation, the shift towards a cashless economy has accelerated the adoption of plastic money-primarily debit and credit cards-as instruments of financial transactions. This research paper critically examines the role of plastic money in promoting financial inclusion in India, with a particular focus on its reach among economically weaker and previously unbanked sections. The study evaluates usage patterns, access, and acceptance of debit and credit cards in urban and rural settings, and assesses whether these tools truly contribute to bridging the financial divide. Using a combination of primary data and secondary sources, the paper highlights the key challenges-such as digital illiteracy, infrastructure gaps, and trust issues-that hinder inclusive financial participation through plastic money. The findings suggest that while debit and credit cards have increased accessibility to formal banking systems, their impact on comprehensive financial inclusion remains limited without parallel investments in awareness, education, and digital infrastructure.

The Halal economy is a rapidly growing sector gaining attention and investments globally. Technology is playing a significant role in driving the growth and shaping the landscape of this sector. The halal economy is not merely a niche market but an integral part of the global economic landscape, promoting ethical, healthy, and permissible products and services for Muslim consumers worldwide while driving innovation and economic development across multiple sectors. This conceptual paper aims to explore technology's role in the Halal economy, highlighting the latest trends, innovations, and advancements driving the sector forward. It discusses how technology is transforming the Halal industry, from halal certification and traceability to e-commerce, fintech, and agro-tech. The paper suggests that technology will help remove entry barriers, enhance efficiency, and boost transparency in the Halal economy. It concludes by arguing that embracing technology is crucial for the future growth and sustainability of the Halal industry.

This paper examines whether temporarily increasing the costs of cash transactions can induce households to permanently switch to formal financial transactions through digital payments, using the demonetization episode in India as a laboratory. The demonetization episode discontinued 86 percent of the cash in circulation overnight, causing a temporary increase in the cost of cash transactions. Using a differences-in-differences design, this paper shows that areas more exposed to cash shortage witnessed a 22 percent increase in digital payments and effects persisted over the long term. However, areas with high baseline informality witnessed an increase in digital transactions only when the requisite financial infrastructure in the form of point-of-sales terminals was already in place. However, there were no spillover effects on household participation in financial assets relative to gold and real estate investments. Our results suggest that financial infrastructure is an important det...

Legacy banking systems built on COBOL mainframes face pressure to modernize for agility, cost-efficiency, and compliance. However, their transformation is high-risk due to scale and the need for continuous availability. This paper presents the Modular-First Legacy Modernization (MFLM) framework, integrating SEI's System Analysis and Migration (SAM), OMG's Architecture-Driven Modernization (ADM), domain-driven design, and continuous integration-tailored for financial-critical systems. MFLM minimizes temporary adapters, ensures regulatory alignment (e.g., Basel standards), and supports incremental modernization with live integration. A core banking case simulation demonstrates reduced risk, minimal throwaway code, and maintained compliance. Results suggest MFLM enables faster, safer legacy renewal. Future work targets automation of architecture extraction and enhanced data migration strategies.

Subscription-based digital platforms and payment systems operate at the intersection of reliability, performance, and financial compliance. Failures in these systems can result in financial loss, regulatory repercussions, and reputational damage. Ensuring resilience-the ability to maintain service availability and data consistency under stress or failure conditions-is therefore paramount. This paper presents a comprehensive set of test strategies to validate and improve the resilience of subscription apps and payment platforms. The proposed methodologies span chaos testing, load testing, disaster recovery simulation, and fault injection, all integrated within automation and CI/CD to enable continuous resilience assurance.

Is article analyzes the impacts of the 2019 Brazilian Social Security Reform on the rights to health and education, with an emphasis on special retirement. The research begins with the historical trajectory of social rights and the formation of the Welfare State in Brazil, highlighting Social Security as a fundamental instrument of social justice and worker protection. Using a qualitative, exploratory, and descriptive approach, based on a bibliographic and documentary review, the study examines the changes promoted by Constitutional Amendment No. 103/2019. Among the main changes are the requirement of a minimum age for granting special retirement, the prohibition of converting special time into common time, and the modification in the calculation of benefits. The results indicate that such measures hinder access to special retirement and weaken its protective function, by imposing greater time of exposure to unhealthy working conditions. This constitutes a violation of constitutional principles such as the prohibition of social regression and solidarity. Furthermore, there is a worsening of workers’ health, an increase in judicialization, and adverse economic and social consequences. It is concluded that, despite being presented as a measure of fiscal sustainability, the reform represents a setback in the guarantee of fundamental rights, compromising human dignity and social justice established by the Federal Constitution of 1988.

The importance of Australia's minimum wage has never been more significant for low-paid workers than during the concurrent crises of wage stagnation and the pandemic. But in this current regulatory paradigm will the minimum wage be able to continue its history of fulfiling its social, economic and industrial objectives? This article will examine this challenge by reviewing how Australia's minimum wage has been calculated by an independent industrial tribunal through assessing the needs of workers, the capacity of employers to pay, and the function of the minimum wage as a safety net. Maintenance of the high level of the minimum and whether any groups of workers are left behind are key issues for the future of minimum wage regulation.

Introduction. The relevance of this study stems from the fact that in the context of
global competition and rapid technological changes, regions need to develop
innovative ecosystems to attract investments, create new jobs, and improve the
living standards.
The study is aimed at determining the role of innovative processes in transitioning
towards sustainable development of regional economic systems.
Materials and methods. The study included the following materials: scientific
publications and articles on regional innovation development, the role of innovation
infrastructure, and sustainable development, published in peer-reviewed journals. The
study employed the following methods: theoretical analysis and modeling.
Results. The elements of innovation infrastructure were identified and then structured
into a hierarchy based on their degree of influence and significance for implementing
innovative activities in regional economic systems. Innovation infrastructure is aimed
at improving the current state of innovation processes; it particularly influences the
production of new high value-added products.
Conclusion. The presence of steadily developing innovation infrastructure is a
fundamental factor that accelerates the transition to sustainable development
concepts when implementing innovative activities.
It is crucial to develop more precise and universal methodologies for assessing
the impact of innovation infrastructure on sustainable regional development,
encompassing economic, social, and environmental aspects. Further research is
needed to examine how innovation infrastructure fosters the development of startups,
small and medium-sized enterprises, as well as large corporations across various
economic sectors.

This paper presents a Systematic Literature Review (SLR) that explores the intersection of Quick Response (QR) codes, cryptographic models, and card payment systems. With the rapid evolution of digital payment infrastructures, QR-based transactions have become increasingly prevalent due to their ease of use, low cost, and accessibility. However, the integration of QR codes into card payment systems introduces significant security and privacy concerns, necessitating robust cryptographic solutions. This review systematically analyzes existing research from 2015 to 2025, focusing on the technological frameworks, security protocols, and vulnerabilities associated with QR code transactions and card-based payments. Key themes identified include symmetric and asymmetric encryption models, public key infrastructures (PKIs), tokenization, and blockchain-based enhancements. The review also evaluates the performance, scalability, and usability of various cryptographic schemes in the context of real-time payment authentication and fraud prevention. Through a comprehensive analysis of over 25 peer-reviewed publications, this study highlights research gaps, particularly in lightweight cryptographic models suitable for mobile and low-resource environments. The paper concludes by proposing a conceptual framework for a secure and efficient payment architecture that integrates QR codes with advanced cryptographic techniques, aiming to inform future research and development in secure digital payment ecosystems.

A Beblue é uma fintech que iniciou sua operação em maio de 2016, no segmento de fidelidade de clientes, oferecendo uma solução de cashback para estabelecimentos físicos. A empresa atuava inicialmente no interior de São Paulo e posteriormente expandiu suas operações para metrópoles brasileiras, alcançando 600 mil usuários ativos. Durante o período de expansão, ganhou sua primeira concorrente direta, já atuante em cashback por comércio eletrônico. Para realizar transações de cashback, a Beblue utiliza terminais de captura nos pontos de venda, contudo, após um ano de operação, seus executivos não estavam satisfeitos com essa tecnologia e cogitavam implementar mobile payment como alternativa para seu modelo de negócio.

Most existing digital wallet implementations support a single or a limited set of proprietary financial instruments and protocols for electronic commerce transactions, preventing a user from having one consolidated digital wallet to manage all her financial instruments. Efforts to implement extensible digital wallets that are capable of inter-operating with multiple instruments and protocols such as the Java Wallet and the Microsoft Wallet are a step in the right direction, but these wallets have several limitations. In this paper, we propose a new ...

Introduction. The development of the non-state pension provision system is crucial
for enhancing the financial stability of citizens in old age, reducing the burden on
the state pension fund, and ensuring a more dignified standard of living for retirees.
This contributes to the diversification of income sources and fosters greater individual
responsibility for future pensions.
The study is aimed at developing a conceptual model for a pension planning
application that facilitates the creation of personalized retirement strategies. The
model incorporates continuous monitoring of legislative, economic, and other
changes to provide citizens with an additional tool for independently building longterm
savings.
Materials and methods. The study used the following materials: legislative and
regulatory frameworks governing the operations of non-state pension funds (NPFs)
and fintech development; scientific publications and articles in the fields of financial
technology, pension provision, and information systems. The methods used in the
study included analysis of legal and regulatory frameworks; case studies of fintech
application development and implementation in NPFs.
Results. The AKPIN fintech application enables the formation of personalized
strategies for pension savings and supports the long-term development of the funded
component of Russia’s pension system. The proposed application can analyze user
data and provide tailored recommendations for increasing savings. If a user decides
to withdraw funds, the application can also generate advice upon request. By
continuously monitoring news, financial regulators’ actions, economic indicators, and
legislative changes, the application offers up-to-date recommendations, assisting
users in making informed individual decisions regarding the management of their
pension savings.
Conclusion. Fintech applications can make pension services more accessible to a
broader audience by offering a user-friendly interface for managing retirement savings.

This blog explores the transformative role of cryptocurrencies in promoting financial inclusion across developing countries. With over a billion people globally remaining unbanked, digital assets offer a decentralized, accessible alternative to traditional banking. The article highlights how crypto enables faster and cheaper remittances, access to microloans, and digital wallets for the unbanked, empowering individuals in regions like Africa, Latin America, and South Asia. Real-world case studies from countries like Kenya, Venezuela, and India illustrate the impact of blockchain technology in overcoming economic and infrastructural barriers. While challenges such as regulatory uncertainty and technological access remain, the potential of crypto to reshape financial systems and promote inclusive growth is undeniable.

Resource Utilization Groups, Version III (RUG-III) is a case-mix system developed in the USA for classification of long-term care residents. This paper examines the validity and reliability of an adapted 22-group version of RUG-III (RUG-III/22) for use in long-term care facilities in Finland. Finnish cost weights for RUG-III/22 groups are calculated and different methods for their computation are evaluated. The study sample (1,964 residents) was collected in 1995 - 96 from ten long-term care facilities in Finland. RUG-III/22 alone explained 38.2% of the variance of total patient-specific (nursing + auxiliary staff) per diem cost. Resource use within RUG groups was relatively homogeneous. Other predictors of resource use included age, gender and length of stay. RUG-III/22 also met the standard for good reliability (i.e. a kappa value of 0.6 or higher) for crucial classification items, such as activities of daily living and high correlation between assessments based on relative cost.

It was recognized that eGovernment related applications act independently of each other, specifically in handling the same data and payment collection. Objective: To address the issue, this paper proposes an interoperable payment system that is highly integrated from the end-users' perspective, and highly interconnected with the different eGovernment related applications. The proposed system also incorporates data analytics to allow policymakers to see a range of perspectives in decision-making for better public policies, programs, and processes. Methods/Analysis: Using the modified Princeton Project Management Methodology as the software development framework, three essential modules were developed: Payment Processing, Report Generation, and Data Analytics. Moreover, the municipal treasury officers of Nabua and Bula, Camarines Sur, Philippines assessed the level of acceptability of POPS based on ISO 9126 software quality metrics using the Developmental-Descriptive research methods. Findings: Based on results, the overall Likert score rating of POPS is 4.21 or an adjectival perceptions rating of strongly agree. Novelty/ Importance: This implies that POPS implements the necessary functional requirements for an eGov payment system according to the recommended ISO software quality metrics as perceived by the end-users and IT experts' respondents.

Technological innovation, recent regulatory initiatives and mass consumers’ changing expectations are quickly re-shaping the payments’ sector, paving the way to a more open environment where even non-banking players see a huge opportunity to gain momentum and disrupt the incumbents, namely the financial institutions. Fintech startups, high-tech firms but also mobile network operators are indeed challenging the status quo with their innovative propositions, trying to disintermediate banks from their traditional function of payment service providers. In the payments market, mobile wallets represent one of the innovations with highest potential of growth in the consumer-to-business segment. Payment market is a large and profitable segment for retail banking. Besides revenue streams from card payment transactions, new sources of revenueas and value creation have been unleashed by digital payments. This paper contributes to provide a better understanding of the mobile wallet ecosystem, a...

Penelitian ini mengkaji secara sistematis tahapan dalam proses penginputan laporan kinerja dan kehadiran pegawai yang berujung pada pembentukan nilai rupiah gaji. Proses dimulai dari pencatatan data primer oleh unit operasional, dilanjutkan dengan validasi oleh bagian terkait, dan diakhiri dengan pengolahan data melalui sistem penggajian elektronik. Tujuan utama studi ini adalah untuk menganalisis efisiensi alur kerja, mengidentifikasi potensi kesalahan administratif, serta merumuskan rekomendasi peningkatan akurasi dan transparansi dalam proses penghitungan gaji. Hasil kajian diharapkan dapat mendukung terciptanya mekanisme penggajian yang profesional, tepat waktu, dan sesuai dengan prinsip tata kelola yang baik.

This article analyzes the impacts of the 2019 Brazilian Social Security Reform on the rights to health and education, with an emphasis on special retirement. The research begins with the historical trajectory of social rights and the formation of the Welfare State in Brazil, highlighting Social Security as a fundamental instrument of social justice and worker protection. Using a qualitative, exploratory, and descriptive approach, based on a bibliographic and documentary review, the study examines the changes promoted by Constitutional Amendment No. 103/2019. Among the main changes are the requirement of a minimum age for granting special retirement, the prohibition of converting special time into common time, and the modification in the calculation of benefits. The results indicate that such measures hinder access to special retirement and weaken its protective function, by imposing greater time of exposure to unhealthy working conditions. This constitutes a violation of constitutional principles such as the prohibition of social regression and solidarity. Furthermore, there is a worsening of workers' health, an increase in judicialization, and adverse economic and social consequences. It is concluded that, despite being presented as a measure of fiscal sustainability, the reform represents a setback in the guarantee of fundamental rights, compromising human dignity and social justice established by the Federal Constitution of 1988.

This article examines the current trends in the development of cash circulation in the Republic of Bulgaria in connection with the intensified debates in foreign media and analyses of the need for a decisive limitation of cash and the mass use of non-cash payments. A comparative study of the place and role of cash in the economies of some EU countries, as well as the most important word economics system, whose financial systems are very clearly pursuing a policy of transition to a "cashless world", etc.The main economic and social factors influencing the "payment infrastructure" in different countries and the prospects for the development of cash flows and economic growth in their relationship with non-cash payments in the world over the next decade are also analyzed. The specifics of the development of cash in the Republic of Bulgaria in the period since 2014 and its relationship with economic growth in the context of the currency board and the upcoming accession to the euro currency area are studied.

The federal budget crisis has come to a boiling point and federal employees are feeling the pain as well. Motivation of federal employees is a current topic that needs to be addressed as the government is downsizing at an ever increasing rate. With pay freezes, pay cuts, and now downsizing, Herzberg’s research based on the Motivation/Hygiene theory will be looked at as a way of predicting how to motivate federal employees while the government is downsizing. There is a dearth of current research related to the motivation of federal employees during downsizing. Seminal research is reviewed as well as some recent research on motivation and downsizing. From this literature review, the gap in the research reveals that future research can be based on data from the U.S. Office of Personnel Management; however, the study should be longitudinal and specific to an agency so that a representative sample can be analyzed.

The Ethiopian banking sector is undergoing a significant transformation, marked by an increasing number of domestic financial institutions and a recent pivotal policy shift that has opened the door to foreign banks after decades of a closed market.1 This liberalization, while promising for overall economic growth, introduces a new era of competition, particularly for nascent domestic banks. These institutions now face the prospect of competing with potentially larger, more experienced, and technologically advanced foreign entities, creating an urgent need to explore strategies that can rapidly enhance their scale and competitiveness.

The institute of the guarantee judge, a new statute introduced by Law 13,964/19, is the subject of discussion in this article. In this context, the general objective is to clearly illustrate, with facts and justifications, the ways in which the institute strengthens and makes the Brazilian criminal justice system more aligned with the procedural rules established by the 1988 Constitution. In addition to supporting the rule that Pertinent evidence related to the development of the judge's conviction must be presented in opposing court proceedings. These considerations require a discussion of criminal procedural concepts, procedural systems and their historical development. Based on the research carried out, we agree with the statement that the institution of the judge of guarantees does not contradict moral standards, but emphasizes the need to implement impartiality in the nation's judicial system. As a result, it is up to the Judiciary to take on the challenge of adopting this new procedural figure, viewing it as something very beneficial and preparing the ground for its full realization. As it is a completely theoretical topic, the use of bibliographic processes is emphasized, as well as doctrinal and jurisprudential mechanisms.

Deciziile haotice ale administrației Trump, măsurile tarifare imprevizibile și de natură să îi afecteze chiar și pe cei mai importanți parteneri economici ai SUA – Canada, Mexic, China și UE –, precum și reconsiderarea, la fel de dezordonată, a intereselor geopolitice americane în relațiile cu Rusia, Ucraina și Europa au declanșat o nouă serie de dezbateri cu privire la o veche problemă: rolul dolarului în lume.

This paper analyses the intraday liquidity management game played in large-value payment systems accounting for a variable and a …xed cost of liquidity. While the liquidity cost is a decisive factor for settlement behavior, the availability of intraday liquidity until end-of-day matters too, as it mutes late settlement incentives originating from settlement risk. Whether liquidity is provided via overdraft or intraday credit hardly matters. A late settlement fee can both disincentivise settlement coordination or implement early settlement. Its calibration is ususally non-trivial with the major exception of a …xed cost and end-of-day availability of intraday liquidity. I would like to thank the participants of the Federal Reserve Bank of Chicago Brownbag Seminar and of the Economics of Payments V Conference organised by the Bank of Canada and the Federal Reserve Board. I also wish to thank

The views expressed in this paper are those of the author(s) and do not necessarily represent those of the Swiss National Bank. Working Papers describe research in progress. Their aim is to elicit comments and to further debate. The Swiss National Bank (SNB) respects all third-party rights, in particular rights relating to works protected by copyright (information or data, wordings and depictions, to the extent that these are of an individual character).

Market deregulation and globalization have caused competitive situations across a range of industries to constantly change, which has resulted in a rise in customer attrition. In order to maintain business development and keep their client base, organizations must effectively anticipate and mitigation of customer churns. This study explores the use of machine learning techniques in the Power Bi tool to anticipate client turnover. Emphasis is placed on the incorporation of these features, while focusing on well-known industries like telecommunication, employee churn for developing a predictive model, and features capturing customer social interaction and communications graphs and customer feedback are highlighted in the review. The findings encourage the use of profit-based evaluation criteria to increase profitability, improve customer retention, and support decision-making. Additionally, they draw attention to the dearth of studies on the profitability aspect of churn prediction models. In order to promote further advancements, the research concludes with recommendations that support the usage of ensembles, machine learning techniques, interaction visualization data utilizing Power BI, and explainable methodology. Churn prediction, which identifies customers who are likely to leave for a rival, has become the most important Business Intelligence (BI) application as a result. The purpose of this study is to provide widely used data mining approaches for identifying potential churning customers. These techniques look for patterns in past data that may point to potential churners.

This research paper explores the synergistic integration of Operational Research (OR) and Machine Learning (ML) techniques to enhance the analysis of decision-making procedures across diverse domains. Decisionmaking is a critical aspect of problem solving in various fields, and the combination of OR and ML offers a powerful framework for optimizing, automating, and gaining deeper insights into decision processes. This study delves into the methodologies, applications, and advantages of utilizing OR and ML in decision analysis, providing a comprehensive overview of how these two disciplines can complement each other. Through real-world case studies and practical examples, we illustrate the potential for improved decisionmaking, resource allocation, and efficiency in complex decision scenarios. By examining the intersection of OR and ML, this research contributes to a deeper understanding of the transformative potential of these methodologies in modern decision analysis. By consistently delving into and adjusting these approaches, we can anticipate a future where decision-making processes become more streamlined, precise, and adept at addressing the evolving challenges of our swiftly transforming world.

This paper seeks to analyze the immediate impact of demonization drive on digital financial inclusion in India which was declared on 8th November 2016. Thereafter, digital financial inclusion got wide momentum in terms of accessibility and usability than ever before. Thus, the study is ascertained to explore the emerging trends in the financial sector for financial inclusion in India followed by discussions on prospects and challenges of financial technology (Fintech) that occurred due to demonetization ordinance. So far none of the studies was performed in analytical way to explore the impact of new demonetization ordinance on digital financial inclusion. Hence, this approach is the first dimension in this respect with the discussions on emerging techbased financial services. The study encompasses the analysis of financial inclusion parameters like opening Bank account, No Frills Account (NFA) and Rupay Debit Card with the comparison of pre and Post periods of demonetization. Paired Sample t-test was applied to test the hypotheses and results show that those three parameters do not have a significant impact on financial inclusion due to demonetization except in the distribution of Rupay Debit card provided by Public sector banks.

Financial inclusion remains a critical global challenge, with digital payment technologies emerging as transformative solutions for the unbanked population. This article examines how innovative digital payment systems—from mobile banking platforms and digital wallets to cryptocurrency applications—are revolutionizing access to financial services worldwide. Through analysis of successful implementations like India's Unified Payments Interface and mobile banking systems in developing economies, the article explores the technological frameworks enabling these advancements. The article addresses persistent challenges, including infrastructure limitations, regulatory complexities, and digital literacy barriers, while proposing collaborative strategies between governments, financial institutions, and technology providers to develop sustainable and accessible financial ecosystems. By examining both the technical architecture and social impact of digital payment innovations, the article provides a comprehensive roadmap for leveraging technology to create more equitable financial systems that empower traditionally underserved communities.

IAIN Sharia Banking Student Sheikh Nurjati consumes high students, but in conducting transactions students are less in utilizing electronic money and debit card facilities in daily activities so that the problem is how the e-money and e-money are used. the use of debit cards against student consumption expenses. This system of payment transactions using electronic money and debit cards will affect a person's behavior in spending or consumption behavior. This study aims to investigate the use of e-money and debit cards in consumption expenditures and how it affects the consumption expenditure. This research applied a quantitative method by using a questionnaire as an instrument to collect the data. Further, the data were then analyzed by applying multiple linear regression models. As result, it was revealed that partially using e-money in students’ consumption behavior had a negative and an insignificant influence, while using debit cards had a positive and significant influence ...

In September 1952 the Dutch Minister of Foreign Affairs, J.W. Beyen, extracted from the Council of Ministers of the ECSC. a commitment that the future European Political Community envisaged in the treaty for the European Defence Community would also be entrusted with economic tasks. This has usually been understood in the literature as an important origin of the European Economic Community. This paper considers Beyen's initiative in the long term context of Dutch attempts to reduce tariffs and non-tariffbarriers to trade in western Europe since 1949. In this context the paper shows how Beyen was able to maintain the momentum of the Dutch proposals although the European Defence Community treaty itself always appeared doomed to failure and also why the Beyen proposals for a common market appeared on the agenda of the six foreign ministers of the ECSC countries when they met again at the Messina conference. The pasper examines the divisions within the Dutch cabinet on this question as well as the mixed, occasionally hostile, reception which the proposals received from the other five member states of the ECSC. In doing so it shows the centrality of these economic issues, rather than defence questions, to Dutch participation in the discussions of the proposed Defence Community and by analogy the centrality of the same long-term Dutch policies to any participation in any other future form of association between the Six.

The so-called FRITALUX/FINEBEL negotiations took place from the middle of 1949 until the early Spring of 1950 and involved France, Italy and the Benelux nations. What they were supposed to be primarily about depends really upon from which of the two extremes the situation is viewed. For the French, the major goal was the creation of a 'Little Europe' payments union involving liberalization of capital and flexible exchange rates. As far as .the Dutch were concerned the issues at stake were the freeing of trade and the position of West Germany in an integrated Europe. As a result what the various parties ended up discussing was nothing less than the future order of post-war Europe. The negotiations eventually failed partly because there were two agendas, and partly because those agendas were irreconcilable in the political and economic climate of the time, though an important back ground factor throughout were shifts in the American perception of what they hoped to achieve. Nonetheless, in economic terms it could be argued that the issues raised in the FRITALUX/FINEBEL negotiations offered a far more radi cal blue-print for the future of Europe than the Schuman Plan which so rapidly eclipsed them. This study of an almost forgotten incident along the path towards European integration has been based on the available archive material of the two principal protagonists -France and the Netherlands -together with material in the British archives and American source material in print.

The proposals to form a Europear. Agricultural Community have been ignored by historians since they failed. There exists only one work on the subject, an unpublished thesis and two published articles which essentially are taken from that thesis (1). The author of this work, M. Gilbert Noël, did not have access to the Dutch, German and Italian materials which have been used here, nor does lie seem to have been able to use the same range of French materials. In addition his work is written from a somewhat different perspective than this paper. This neglect is hard to understand wher there has been so much speculative writing about the agreements which have now formed the basis of the European Economic Communities, especially when it is considered how inordinately large a share of the EC's time and money is taken up with the Common Agricultural Policy. There are times when agriculture seems the raison d'etre of the Community', yet the first attempt to regulate western European agriculture in. a common policy framework has been ignored, even though it contained many of the subsequent elements of the Common Agricultural Policy. The origins of the proposals are to be found in two distinct post-war developments. The fi rst is the clecisici. in the French Ministry of Agriculture and in the Planning Commissariat to generate export surpluses of primary products from the French economy. The second lies in the failure of the OFFC trace liberalization programmes to bring any advantages tc European agricultural exporters. Tbe attempts of the Netherlands tc rectify, this situation wher. coupled to the political effort by French

Building modern web applications demands both speed and reliability. Full-stack developers often face the challenge of managing multiple layers of an application, including frontend interfaces and backend systems. When it comes to streamlining backend development, Spring Boot stands out as a go-to framework in the Java ecosystem. As backend complexity increases, having tools that minimise configuration effort and boost productivity becomes crucial. Spring Boot offers exactly that-efficiency, scalability, and ease of use-all essential qualities in today's development workflow.