There are many different ways by which a user can make cashless payments—online banking, credit and debit cards, e-wallets, and QR codes just to name a few. The adoption of the methods of payment is largely determined by government rules as well as regulations in the respective countries. Hence, this study provides an in-depth discussion regarding the trends of e-payment adoption in selected countries. To strengthen the case for the digitalisation of transactions, the authors also consider the advantages of moving towards a cashless society. In addition, major issues that hinder the growth in the global adoption of e-payments found in cross-border transactions will be discussed. Furthermore, this chapter also explores the potential adaptation of blockchain technology on e-payment systems to solve the instant cross-border payment issue.
The current review aims to examine the growth trajectory, most influential documents, and intellectual and conceptual structure of the literature regarding information in Shanghai free trade zone (SFTZ). A narrative review approach was performed using 83 documents from July 2022 to October 2022 extracted from Google Scholar and ProQuest platform to provide an updated information regarding the SFTZ and discuss its features and potential challenges as it grows. Several significant reforms have been introduced via SFTZ such as liberalisation of investment sectors and facilitation business registration with 100% ownership, financial advantages, and the talent policy advantage. These have become significant drivers of economic expansion in Shanghai and across the country. As such, foreign investors could benefit from measures explicitly designed to offer a non-discriminatory business environment and, more importantly, create a more level playing field for them and their Chinese counterparts. Although the Chinese government has undertaken many efforts, SFTZ has received negative feedback. The Chinese government continues improving and revising its existing policies to fit Shanghai's complex and fast-changing business environment.
China’s Belt and Road Initiative (BRI), introduced in 2013, has been strongly supported by various Free Trade Zones (FTZs). The pilot Shanghai Free Trade Zone (SFTZ) received much attention after a major reform in 2019. Malaysia’s enterprises consist of young and infant industries. Hence, this study has aimed to provide insights into the awareness among Malaysia’s enterprises towards SFTZ. In addition, hidden opportunities and challenges will be discussed in detail and further enlighten the concerns of Malaysian enterprises. A purposive sampling method has been applied to select the participants for the five focus group discussions. The results indicated a gap between government practices and industry players regarding the opportunities, challenges, and prospects in the SFTZ. Malaysia is expected to benefit from the SFTZ through comparative advantages in certain industries, with its talent, and through unique products with intellectual property rights. At the same time, Malaysian businesses have remained constrained by several obstacles, such as lack of information, exit policies and differences in regulations. Although MATRADE has stepped in as a bridge between local and Shanghai enterprises, more is needed to be done.
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