Working Digital Money into a Cash Economy: The Collaborative Work of Loan Payment

O’Neill, Jacki; Dhareshwar, Anupama; Muralidhar, Srihari Hulikal

doi:10.1007/s10606-017-9289-6

Cited by 40 publications

(57 citation statements)

References 26 publications

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“…The second contribution is that consumers feel different levels of virtuality depending on their transaction method. The existing research on payment methods [2,[10][11][12][13][14][15] has been insufficient to suggest the psychological mechanisms of consumers. This study explains how the behavior pattern of consumers changes according to transaction type, based on the theoretical mechanism of construal level theory [16][17][18].…”

Section: Discussionmentioning

confidence: 99%

Virtuality Changes Consumer Preference: The Effect of Transaction Virtuality as Psychological Distance on Consumer Purchase Behavior

Park

2019

Sustainability

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With the rapid development of information and communication technology, a variety of new industries and services are rapidly evolving based on the convergence between existing Information and Communication Technology (ICT) and heterogeneous industries. In the meantime, the FinTech market, created by the convergence of financial and ICT areas, is emerging and growing rapidly. The new market of virtual transaction based on digital money is growing faster than any other FinTech area. The purpose of this study is to determine whether the perceived difference in the virtuality of a consumer’s transaction affects the consumer's purchasing behavior and how the behavior changes. Specifically, this study revealed that consumers' perceived virtuality differs according to the type of transaction method. Consumers felt that the money was more virtual when they had digital (virtual) currency for a service than when they had cash. This virtuality of money controls the psychological distance of the consumer's money, which is closer to cash than virtual currency. This difference in psychological distance affects consumers' information processing, such that when psychological distances are far (vs. close), consumers prefer products that are described as abstract (vs. concrete), and have a more favorable attitude toward products with more variety.

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Section: Discussionmentioning

confidence: 99%

Virtuality Changes Consumer Preference: The Effect of Transaction Virtuality as Psychological Distance on Consumer Purchase Behavior

Park

2019

Sustainability

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“…Pal [ 31 ] looked at shop-keeper payments in India. O’Neill [ 29 ] argues that the means of payments is a component of a larger social process. Blumenstock [ 4 ] examined that government payments did not go to the beneficiaries.…”

Section: Related Workmentioning

confidence: 99%

Understanding mobile money grievances from tweets

Shah

Mare

Anderson

2019

Proceedings of the Tenth International Conference on Information and Communication Technologies and Development

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Access to financial services through a mobile phone, known as Mobile Financial Services (MFS), creates an opportunity to expand the reach of financial services to the 1.7 billion unbanked adults worldwide. Nevertheless, MFS adoption has been inconsistent, which motivates a need to identify the challenges that MFS users confront in different countries. In this work, we explore the Twitter as a potential data source to understand such challenges. More broadly, we assess whether (and how) publicly available Twitter data can augment the findings of expensive, large-scale research studies on MFS barriers. Our Qualitative Content Analysis of 9,000 mobile money grievance tweets that were extracted from 54 MFS customer care twitter feeds across six countries reveals service and access issues, incorrect transactions, and fraud as three main challenges MFS users report on Twitter. We discuss the nuances around these challenges and the substantial differences between the common issues reported in different countries. Ultimately, we conclude that Twitter data can elucidate the challenges of MFS adoption and also that it can augment the results of other types of MFS studies.

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“…Given the widespread use of mobile technologies throughout the developing world, mobile money systems have been identified as a means for increasing financial inclusion in places where formal financial institutions do not offer services to the majority of the population or are altogether unavailable [26]. O'Neil et al [31] cautioned that the goals of financial inclusion may not be solved entirely through mobile money, or at least not immediately, due to a number of reasons including low literacy [21] and the inherent flexibility of cash payment systems. Solving issues of access and adoption do not necessarily lead to understanding and use [28].…”

Section: Mobile Money Systemsmentioning

confidence: 99%

ThinSIM-based Attacks on Mobile Money Systems

Phipps

Mare

Ney

et al. 2018

Proceedings of the 1st ACM SIGCAS Conference on Computing and Sustainable Societies

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Phone-based mobile money is becoming the dominant paradigm for financial services in the developing world. For example, mPesa has a cash flow of over thirty billion USD, equivalent to nearly half of Kenya's GDP. Inside of these markets, competitors have appeared who leverage ThinSIMS, small SIM-card add-ons, to provide alternative mobile money implementations. However, the security implications of ThinSIMs are not well understood. To resolve this, we explore the security of phone-based mobile money systems against attacks via the SIM interface, the 3GPPdefined interface between a SIM card and a phone. Using a ThinSIM to intercept and initiate communication over the SIM interface, we demonstrate that a malicious ThinSIM can steal a user's mPesa credentials and initiate transactions without the user's consent or knowledge. We also demonstrate a similar ThinSIM-based attack against USSD-based mobile money systems that allows for similar transactions without the user's knowledge or participation. Lastly, we propose and implement modifications to both STK and USSDbased mobile money systems to limit the impact of our discovered ThinSIM-based attacks.

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Working Digital Money into a Cash Economy: The Collaborative Work of Loan Payment

Cited by 40 publications

References 26 publications

Virtuality Changes Consumer Preference: The Effect of Transaction Virtuality as Psychological Distance on Consumer Purchase Behavior

Virtuality Changes Consumer Preference: The Effect of Transaction Virtuality as Psychological Distance on Consumer Purchase Behavior

Understanding mobile money grievances from tweets

ThinSIM-based Attacks on Mobile Money Systems

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