Digital Payment Systems in Urban Media Landscapes:The Evolution and Impact of Apple Pay on Urban Life and Consumer Behavior

This study examines the transformative impact of Apple Pay on urban landscapes and socioeconomic frameworks,with a particular focus on spending patterns and retail dynamics in metropolitan areas.By evaluating the adoption levels,the technological support,and the social impact of Apple Pay,the study shows that the service is both a catalyst for the development of digital payment and a sign of an increasing social gap.Although it has rapidly transformed Retail Enterprises and supported the construction of smart cities,especially in major world cities such as New York,London,and Tokyo,the work has brought out notable digital divides.Although Apple Pay,with more than 75%of iPhone users and 9,000 banks in 60 world areas and regions,has impacts that are not the same across urban populations,the study shows that while large format retailers have effectively adopted Apple Pay for value-added services to consumers and enhanced payment efficiency,small businesses encounter significant barriers in implementation.Additionally,the technology leverages smartphone usage and banking relationships,which does not address considerable urban population demographics and deeper issues of technology exclusion and inequality in the contemporary city.Such results call for attaining a just society’s technological advancement for efficiencies while still catering to all groups of urban dwellers.

The impact of financial inclusion on digital payment solution uptake within the Gulf Cooperation Council Economies

Recognizing the role of society in the sustainability of payment system innovation through the quadruple helix framework,this study analyzes the causal influence of demand-side financial inclusion indicators on society's uptake of digital payment solutions(DPS)within the regional economy of the Gulf Cooperation Council.To this end,the present study relies on data extracted from Global Findex surveys(in 2014 and 2017),as well as the economic theory of random utility maximization,to model individuals'DPS uptake decisions“ceteris paribus.”The maximum likelihood estimation revealed no gender-based gradient in DPS uptake behaviors;additionally,financial inclusion indicators such as transaction account ownership and debit card ownership did not significantly influence endogenous or exogenous DPS uptake decisions between 2013 and 2017.However,all remaining financial inclusion indicators did significantly influence DPS uptake.Assessing these findings through the lens of open innovation and the ongoing efforts from the Arab Regional Payment System project,which seeks to expand financial inclusion by facilitating access to transaction accounts,there is reasonable evidence to suggest that complementary financial inclusion policies addressing the use dimension of DPS(i.e.,extending access to saving and borrowing,along with digital payroll practices for both private and public enterprises)would contribute to more effective policy on financial inclusion in the region.

The Digital Currency of China’s Central Bank:Digital Currency Electronic Payment(DCEP)

DCEP is the Chinese version of Central Bank Digital Currency(CBDC).It is the only legal digital currency in China and meets four conditions:(a)it is issued by the central bank;(b)it is digitized;(c)it is account and wallet based;(d)it is oriented towards the general public.As a retail central bank digital currency,it has three main technical features:a“tiered limit arrangement”(small-scale payments can be made anonymously while large-scale payments cannot),a“two-tier operating system”(as with the central bank-commercial bank traditional model),and a“dual offline payment system”(supporting both parties of the transaction).Compared with CBDCs in other countries,China’s DCEP has smaller economic impacts,more obscure strategic goals,and more scarce technical details.But its progress in testing is ahead of central banks of other countries.This article is based on public information and is intended to explain what DCEP is and why and how it was developed.It also offers suggestions for future research.

Financial technology and the future of banking

This paper presents an analytical framework that describes the business model of banks.It draws on the classical theory of banking and the literature on digital transformation.It provides an explanation for existing trends and,by extending the theory of the banking firm,it illustrates how financial intermediation will be impacted by innovative financial technology applications.It further reviews the options that established banks will have to consider in order to mitigate the threat to their profitability.Deposit taking and lending are considered in the context of the challenge made from shadow banking and the all-digital banks.The paper contributes to an understanding of the future of banking,providing a framework for scholarly empirical investigation.In the discussion,four possible strategies are proposed for market participants,(1)customer retention,(2)customer acquisition,(3)banking as a service and(4)social media payment platforms.It is concluded that,in an increasingly digital world,trust will remain at the core of banking.That said,liquidity transformation will still have an important role to play.The nature of banking and financial services,however,will change dramatically.

Testing the LCC hypothesis by considering environmental sustainability and economic development:Role of green energy and resource management

This study aims to demystify the role of green energy and green technology in establishing the nexus between behavioural intentions of tourists,technologies,and digital payments by using Perceived value(PV),Compatibility(CO),Perceived Enjoyment(PE),and Social Influence(SI)as a predictor variables,Trust(TR)and Satisfaction(SA)as a mediating variables and Behavioural Intentions(BI)as an outcome Variable.For the empirical estimation,we employ smart PLS-SEM,TAM(Technology Acceptance Model)and SPSS and Tested the LCC hypothesis.Key findings suggest that green energy and perceived value have the highest positive impact on tourists’trust towards digital payments followed by compatibility,social influence and perceived enjoyment.Similarly,tourists’satisfaction and green technology is one of the important determinants of choosing any digital mode of payment,is mostly influence by perceived value,perceived enjoyment,compatibility and social influence.Moreover,if we choose between trust and satisfaction,trust plays a significant role in exploring the behavioural intentions of tourists about green energy and green technology followed by tourists’satisfaction.In addition,Tourists’trust and satisfaction are highly correlated and influence each other.The study offers novel policy implications in terms of use of green technology and green energy in enhancing trust and satisfaction of tourists in order to deeper understanding of different dimensions of digital payments and M-wallets,and allowing them to explore the long-term value inherent of digital payments and M-wallets.