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The purpose of this paper is to identify, categorize and describe the Greek banking payment and settlement systems and the way to SEPA. Also, the purpose is to describe authorities that supervise money laundering through Greek payment systems and identify major categories of suspicious transaction reports and amounts of criminal assets per each category.

The Bank of Greece, central bank of Greece, has explicit tasks in the field of payment and settlement systems. In Greece, there are three payment and settlement systems: large-value payment system (TARGET2), retail payment systems and securities settlement systems.

TARGET2 is based on a technically centralized platform (single shared platform – SSP), which is provided by the central banks of Germany, France and Italy, and it replaces the decentralized structure of the original TARGET system. Migration on TARGET2 took place in Greece on May 19, 2008. Ongoing cooperation between the European System of Central Banks and the banking community through extensive consultations facilitated the smooth migration to TARGET2. Retail payment systems consist of DIAS credit transfers, direct debits, check, ATM transactions and card payments. During the year 2013, DIAS cleared 144.13 million payment transactions with a total value of €184.1 billion. Most of the transactions were credit transfers SEPA compliant. Securities settlement systems operate on the delivery versus payment principle, whereby sales of securities and respective payments are affected simultaneously, as well as the principle of dual notice. Migration of Greek data systems toward SEPA through a regulatory framework will promote the use of common European standards and business practices for a fully automated and efficient processing of payment instruments. Bank of Greece and Greek Anti-Money Laundering and Counter Terrorist Financing Authority are responsible authorities to supervise illegal activity through bank payment systems. Data show that Greek bank payment systems were used during 2012 for tax evasion and for offences that result in imprisonment for over six months.

Above findings are useful for information technology management, legislative and compliance authorities, investors and person that operate transactions with Greek banking payment and settlement systems.

To the best of the author’s knowledge, it is the first study about Greek banking payment systems.

The past decade, with its unprecedented surge in financial activity and the occurence of financial crises, has been one of increased awareness on the part of both regulatory authorities and market participants of payment system's potential for propagating and amplifying financial shocks, especially in a cross‐border context. This has led the European Commission to propose a Directive aiming at reducing systemic risk in payment systems. Systemic risk is the risk that the illiquidity or failure of one participant in a payment system, and its resulting inability to meet its obligations when due, will lead to the illiquidity or failure of other participants in that system, with, at worst, knock‐on effects in the financial markets at large. This paper draws the background and describes the contents of the Commission's proposal to reduce systemic risk.

Smart card-based E-payment systems are receiving increasing attention as the number of implementations is witnessed on the rise globally. Understanding of user adoption behavior of E-payment systems that employ smart card technology becomes a research area that is of particular value and interest to both IS researchers and professionals. However, research interest focuses mostly on why a smart card-based E-payment system results in a failure or how the system could have grown into a success. This signals the fact that researchers have not had much opportunity to critically review a smart card-based E-payment system that has gained wide support and overcome the hurdle of critical mass adoption. The Octopus in Hong Kong has provided a rare opportunity for investigating smart card-based E-payment system because of its unprecedented success. This research seeks to thoroughly analyze the Octopus from technology adoption behavior perspectives.

Cultural impacts on adoption behavior are one of the key areas that this research posits to investigate. Since the present research is conducted in Hong Kong where a majority of population is Chinese ethnicity and yet is westernized in a number of aspects, assuming that users in Hong Kong are characterized by eastern or western culture is less useful. Explicit cultural characteristics at individual level are tapped into here instead of applying generalization of cultural beliefs to users to more accurately reflect cultural bias. In this vein, the technology acceptance model (TAM) is adapted, extended, and tested for its applicability cross-culturally in Hong Kong on the Octopus. Four cultural dimensions developed by Hofstede are included in this study, namely uncertainty avoidance, masculinity, individualism, and Confucian Dynamism (long-term orientation), to explore their influence on usage behavior through the mediation of perceived usefulness.

TAM is also integrated with the innovation diffusion theory (IDT) to borrow two constructs in relation to innovative characteristics, namely relative advantage and compatibility, in order to enhance the explanatory power of the proposed research model. Besides, the normative accountability of the research model is strengthened by embracing two social influences, namely subjective norm and image. As the last antecedent to perceived usefulness, prior experience serves to bring in the time variation factor to allow level of prior experience to exert both direct and moderating effects on perceived usefulness.

The resulting research model is analyzed by partial least squares (PLS)-based Structural Equation Modeling (SEM) approach. The research findings reveal that all cultural dimensions demonstrate direct effect on perceived usefulness though the influence of uncertainty avoidance is found marginally significant. Other constructs on innovative characteristics and social influences are validated to be significant as hypothesized. Prior experience does indeed significantly moderate the two influences that perceived usefulness receives from relative advantage and compatibility, respectively. The research model has demonstrated convincing explanatory power and so may be employed for further studies in other contexts. In particular, cultural effects play a key role in contributing to the uniqueness of the model, enabling it to be an effective tool to help critically understand increasingly internationalized IS system development and implementation efforts. This research also suggests several practical implications in view of the findings that could better inform managerial decisions for designing, implementing, or promoting smart card-based E-payment system.

Controls on short‐term capital inflows or panic‐driven capital outflows may benefit emerging markets that have fragile financial sectors and adjustable‐peg currency regimes. However, the controls seen so far are relatively easy to evade, often complex and obscure, and supported by large corruptible bureaucracies. A tax on foreign‐exchange payments avoids these drawbacks. It is transparent, inexpensive to set up and operate, administratively lean, and easy to adjust. A Tobin tax in effect, it is enforceable even when applied unilaterally.

The past decade, with its unprecedented surge in financial activity and financial crises, has been one of increased awareness on the part of both regulatory authorities and market participants of the potential of payment systems for propagating and amplifying financial shocks, especially in a cross‐border context. This has led the European Commission to propose, on 30th May 1996, a Directive aimed at reducing systemic risk. (This has been the subject of an earlier contribution by the same author, pub‐lished in Vol 5, No 1 of the Journal.) In the meanwhile, the European Parliament has delivered its opinion and the Council has adopted a common position. This paper examines the contents of this common position.

There is a substantial lack of the need for adopting interface between accounting systems of companies and banks in Vietnam. The purpose of this paper is to bring out the benefits and lacunas in the adoption of interface for companies as well identify the factors that possibly could be crucial in making the interface adoption a success or failure.

The study is set in the context of case analysis and has adopted a mixed method approach. In this study, a contrast between successful adopters of interface and non-adopters of interface is discussed to identify the motivating factors for interface as well as the factors which form the barriers for non-adopters.

By conducting a case study-based analysis for intensive data comparison of two companies as interface adopters and two as non-adopters in Vietnam, it is found that the success of the interface adoption is influenced by inter-related factors such as the manager characteristics, industrial environment, company characteristic and innovation characteristics. Particularly, the effectiveness of the interface can be well demonstrated by cost saving, manpower reduction, data consistency, accuracy, and speed of the process.

The impact on the banker is not analyzed. Furthermore, this research only focuses on the effects of interface on the electronic banking system and accounting modules in the form of electronic payment, while in reality, banks provide a variety of services which can also be explored by other researchers.

This is one of the first studies in the context of Vietnam. This study is highly relevant in the current context, given the significant growth in the number of industries and export markets in Vietnam.

The purpose of this paper is to examine the impact of key antecedents of unified theory of acceptance and use of technology model 2 on behavioral intention to accept and use mobile payment systems in National Capital Region, India.

A sample of 267 mobile payment system users in National Capital Region was obtained through an online survey. A partial least squares method was used to find out whether key antecedents of UTAUT2 predict behavioral intention to accept mobile payment systems which further predicts use behavior toward mobile payment systems.

The research substantiates that performance expectancy, effort expectancy, habit and facilitating conditions significantly predict behavioral intention, which in turn significantly predict use behavior to use mobile payment systems. Both social influence and hedonic motivation were weak predictors of behavioral intention.

The research substantiates that performance expectancy, effort expectancy, habit and facilitating conditions significantly predict behavioral intention, which in turn significantly predict use behavior to use mobile payment systems. Both social influence and hedonic motivation were weak predictors of behavioral intention.

The research substantiates that performance expectancy, effort expectancy, habit and facilitating conditions significantly predict behavioral intention, which in turn significantly predict use behavior to use mobile payment systems. Both social influence and hedonic motivation were weak predictors of behavioral intention.

This study aims to investigate the actual usage (AU) of digital payment systems by the consumers during the period of demonetization (from November 9, 2016 to December 30, 2016) in India.

The conceptual frame work for this study is based on the unified theory of acceptance and use of technology (UTAUT 2) and innovation resistance theory. A total of 766 sample respondents were surveyed using a pre-tested questionnaire. The empirical validation of the framework and analysis was done using partial least squares (PLS)-structural equation modeling (SEM) technique.

The results suggest that the behavioral intention (BI) to use and innovation resistance (IR) affect the usage of digital payment systems. The relation between BI to use digital payment systems and the AU of digital payment systems is moderated by the stickiness to cash payments.

This cross-sectional study is limited by geographic constraints and highlights the AU of digital payment systems by using the UTAUT 2 and IR theory only during the demonetization period.

This study offers valuable insights to the economists, policymakers and digital payment service providers regarding the usage of digital payment systems by consumers during demonetization.

This study assumes importance as it empirically examines the influence of BI and IR on the AU of digital payment systems during the demonetization period in India. This study empirically validates the moderating influence of stickiness to cash payments on the AU of digital payment systems.

The purpose of this study is to understand turbulence in the field of payments in Europe and which future challenges this bring. The objective is to enable actors – industrial as well as policy-making agencies – to avoid becoming passive and reluctant to take needed steps that may realize a new playing field for payments.

The article uses scenario analysis methodology to propose a way forward if the field of payments is to move away from turbulence and instead embrace renewal. It is based on a literature study, interviews and workshops.

This article discusses and shows how the payment system is in a state of turbulence, which in itself, may become a self-reinforcing negative process. The seemingly rational competitive actions that firms take in this situation may make the situation worse. The article also outlines critical action that must be taken to avoid this negative process.

There is a need for research that integrates studies on innovation and renewal in the critical industries – banking, telecom and the system driving industries – to improve our understanding of possible synergies and/or obstacles to integrated, cross-industry innovation efforts. Such insights may also lay the foundation for the creation of a way to overcome turbulence.

The article advocates the need that critical actors collaborate to develop a new understanding – or common ground – of a future payment system. This will serve as a tool to identify obstacles and challenges, develop action and formulate agendas for different actors in and around the system. Based on the new common ground, actors are then free to formulate their own strategic agendas in a new competitive landscape in the field of payments.

If the turbulence is to be avoided, national governments in the euro area and the European Union Commission must work hard to avoid national exemptions and adaptations (often caused by strong lobbying by companies from each country in question). Innovation agencies must work so as to stimulate renewal. Another task could be to educate consumers on the social and economic benefits of moving away from a cash-based payment system.

The originality of this paper is to test the idea that turbulence and the consequential inertia in the payment system is a result of the institutional set-up of the industry. In addition, the article uses causal texture theory and scenario analysis to understand turbulence and inertia in the payment system. This has, to my knowledge, not been done before.