I januari 2018 kommer det nuvarande EU-direktivet PSD att ersättas av det nya betaltjänstdirektivet Payment Services Directive 2 (PSD2). Motiven bakom direktivets införande är bland andra att bidra till en förenkling för tredjepartsaktörer att inträda betaltjänstmarknaden samt öka valmöjligheten för konsumenten. Idag domineras betaltjänstmarknaden främst av banker, något som direktivet utformats för att motverka. Syftet med denna studie är att undersöka hur väl några av direktivets motiv stämmer överens med aktörernas uppfattning av direktivets påverkan samt även undersöka vilka möjligheter och utmaningar banker och tredjepartsaktörer ser att det nya direktivet innebär för dem och marknaden. Uppsatsen är genomförd som en fallstudie där semistrukturerade intervjuer med banker och tredjepartsaktörer varit den främsta datainsamlingsmetodiken. Fallstudien visade att aktörernas uppfattning av direktivet till stora delar stämmer bra överens med motiven för direktivet. Samtliga aktörer har en förhållandevis positiv bild av direktivet och ser en mängd olika möjligheter med direktivet. Samarbetet mellan banker och tredjepartsaktörer ses som en av de större möjligheterna. Utmaningarna som aktörerna står inför är varierande beroende på typ av aktör. Studien visade att det finns en del utmaningar som kan komma att begränsa antalet nya aktörer på marknaden. Samtliga möjligheter och utmaningar presenteras i fallstudiens sjätte avsnitt. / In January 2018, the current EU directive PSD will be replaced by the new Payment Services Directive 2 (PSD2). The motives behind the implementation of the directive are, inter alia, to help simplify third party providers entering the payment service market and increasing consumer choice. Today, the payment service market is uppermost dominated by banks, something that the directive is designed to counteract. The purpose of this study is to investigate how well some of the motives of the directive are in line with the actors' perception of the impact of the directive, as well as investigate what opportunities and challenges banks and third party providers see that the new directive implies for them and the market. The essay was conducted as a case study, where semistructured interviews with banks and third party players were the primary data collection methodology. The case study showed that the actors' perception of the directive largely complies with the motives for the directive. All actors have a relatively positive view of the directive and see a wide range of possibilities with the directive. Cooperation between banks and third parties is seen as one of the major opportunities. The challenges that the stakeholders face are varied depending on the type of actor they represent. The study showed that there are some challenges that may limit the number of new players in the market. All possibilities and challenges are presented in the sixth section of the case study.

The purpose of this thesis work was to make a survey of current on-line payment technologies and find out which are they and how do they work? Compare and analyze them from a security point of view, as well as a usability point of view. What is good? What is bad? What is lacking? To achieve this purpose, an overview of the current on-line payment technologies was acquired through academic books and papers, Internet sites, magazines. Basic cryptographic and security related techniques were studied for the security analysis of current on-line payment systems. In this work, various current on-line payment systems were classified into two groups [Macro and Micro on-line payment systems]. This classification was based on the mode of on-line payment transactions. To analyze these on-line payment systems, a set of payment system requirements were formed [Security Issues, Usability Issues, Anonymity, Scalability etc]. Under the category of Macro payment system, Credit Card payment system, Debit Card payment system, Stored Value Card payment system, Electronic Check payment system, Electronic Cash payment system, Electronic account transfer payment system and mobile payment system transactions were examined. Under the category of Micro payment system, Hash Chain based Payment System, Hash Collisions and Hash sequences based Payment Systems, Shared Secrete Keys based Payment Systems and Probability based payment systems were examined. Based on the requirements of payment system, these on-line payment systems were analyzed and compared. In the analysis phase, the advantages and drawbacks of these payment systems were figured out. It was found from the study that the credit card based payment systems are the most widely used means of conducting on-line payments. It is evident that credit card based payment systems satisfy stakeholder requirements the best, as they offer more flexible payment options, having a large user-base, benefit from familiarity and simplicity of use and also allow international payments. The other on-line payment systems lack this flexibility It can also be extracted from the study that users want more simplified, convenient and secure on-line payment systems. Thus the futuristic on-line payment systems will have all secure payment options into one system.

Rapporten tar upp och behandlar ämnet betalväxlar utifrån en utvecklares perspektiv. Två företag som varit i eller nära inpå processen att utveckla en webbshop har intervjuats och jämförts med utbudet hos ett antal olika betalväxlar. Intervjuerna har visat ett resultat som är mycket troligt att man som ny utvecklare kommer i kontakt med i början. Positionen kan då vara både som utvecklare eller som ägare till webbshoppen. Det gick även att konstatera att det fanns ett antal betalväxlar lämpade för olika kunskapsnivåer. Professionell hjälp i form av råd och implementation måste inte tvunget vara en nödvändighet för att man ska kunna sätta upp en relativt avancerad webbshop. / This report deals with online Payment Service Providers (PSPs) from the developer's point of view. Two companies that were in or in close connection to the process of developing a web shop were interviewed and compared to the suppöy of payment options at a number of different payment PSPs. The interviews has shown a result which is probable that a new developer will get in contact with in the beginning. The position could be either as a web developer or as an owner of a web shop. It was also possible to establish that there were a number of PSPs suitable for different levels of knowledge within the field. Professional help such as advices and implementation is not necessary in order to be able to set up a relatively advanced web shop.

It is well known that in English law the indemnity insurers stand in a better position than the assureds and this is especially true when a claim is delayed: in that scenario, the insurer is neither liable for the damage caused by the late payment, nor for the compound interest. In Sprung v. Royal Insurance ([1999] 1 Lloyd's Rep IR 111) this unfair situation was justified by the Court of Appeal, naturally, it brought an opportunity for the Law Commission to reconsider the law. Recently, the new Insurance Act 2015 has been enacted and subsequently amended by the Enterprise Act 2016 in regards to the insurer’s obligation to make a timely payment; however, the legal effect of the new legislation is unknown due to the lack of binding precedents. In this work, the duty of the indemnity insurer shall be discussed in full and this work will try to make a contribution to the interpretation of the new legislation regarding to the obligation of the insurer and remedies for the assured.

E-handeln befinner sig i en stor tillväxt och det finns inga direkta indikationer på att det kommer avta. En fundamental del inom e-handel är själva betalningen och betalningsprocessen. Ett väl fungerande betalningssystem är av yttersta vikt för företag som bedriver e-handel för att kunna konkurrera inom den allt mer konkurrensutsatta marknaden. Trots att e-handeln blir allt mer omfattande för varje år existerar det fortfarande en osäkerhet för konsumenten vad gäller betalningar som sker via Internet. 38 % av svenska konsumenter har någon gång avbrutit ett köp, där den vanligaste anledningen beror på att de inte fick betala som de ville. Har en potentiell kund kommit så pass långt som till själva betalningen vore det ytterst olyckligt om denne skulle avbryta ett köp på grund av betalningslösningen. Avsikten med denna studie är att redogöra för olika faktorer och eventuella barriärer som har påverkan på konsumenterna i relation till betalningssystem. Vidare avser studien att redogöra för hur dessa barriärer påverkar svenska konsumenters köpintention vid e-handel mellan företag och konsument. Detta utförs via en kvalitativ undersökning baserat på semi-strukturerade intervjuer utifrån ett konsumentperspektiv. Slutsatserna visar bland annat att e-handelsföretag och utvecklare bör lägga stor vikt på att tillgodose flera betalningsalternativ, ta stor hänsyn till god användbarhet, tillgodose någon form av säkerhetsfunktion, exempelvis BankID samt tydliggöra information om betalningsprocessen. Utöver detta finns en stark relation mellan konsumenternas förtroende för företaget och konsumenternas förtroende gentemot betalningssystemet. / E-commerce appears in a great time of growth and there's no clear indications of decrement. An important factor in e-commerce is the payment and the payment process. A well-functioning payment system is very important for companies operating in e-commerce to compete within the increasingly competitive market. Despite the fact that e-commerce is becoming more widespread every year there are still barriers that creates uncertainty and inconvenience for customers regarding the payment and the payment process. 38 % of Swedish customers have once canceled a purchase, where the most common reason refers to that they couldn't pay the way they wanted. If a potential customer have reached the payment itself it would be very unfortunate if the customer cut off the purchase due to the payment solution. The purpose with this study is to account for various factors and eventual barriers in the context of payment that affect customers. Furthermore, the study intends to present and explain how these barriers affect Swedish customers´ purchase intention. This is conducted through a qualitative research based on semi-structured interviews from a customer perspective. The conclusions show that e-commerce companies and payment system developers should focus on to accommodate multiple payment system choices, good usability, accommodate some kind of security function, i.e. BankID and clarify information regarding the payment process. In addition, there is a strong relationship between customers trust in the company and customers trust in the payment system.

M.Phil. / Purpose: The purpose of the research was to evaluate the extent to which the constructs and dimensions identified by De Swardt (2005) are valid in describing and predicting the outcome of a variable pay plan. The following secondary research questions were therefore asked: What is the reliability of the eleven dimensions and three constructs? What are the statistical characteristics of the 11 dimensions and 3 constructs, and can they be used to benchmark new variable pay plans? How reliable are the 78 items as test criteria for the 11 dimensions and 3 constructs? Motivation for study: The primary rationale for this study was the unavailability of empirically tested models and the lack of validated variable pay instruments that evaluate the outcome of any variable pay scheme. Design/Methodology/Approach: The study followed a quantitative research methodology, with the primary objective of assessing outcome similarities through Structural Equation Modelling (EQS) factor analysis. Both exploratory and confirmatory factor analysis were performed to the sample data to measure correlations. Findings: The findings of the research highlighted that there were minimal differences between De Swardt’s variable pay models. Differences were identified by analyzing the reliability statistics and factor analysis rules of assessing model fit. Following certain research limitations, the research questions were further refined for use in future studies. The research findings confirmed De Swardt’s (2005) theoretical model of predicting variable pay outcome. Research limitations: Although the study was conducted amongst a wider population group, individual organisation feedback from the selected participants was not balanced. A considerably larger portion of the feedback was obtained from the company with which the researcher was employed. Practical implications/Value-add: The outcome of this research confirms the commercial applicability of the instrument in identifying potential flaws in any variable pay scheme during the early stages of implementation. This will have a positive impact on an organisation’s bottom line. Additionally, quantifying the impact of variable pay plans will not only enhance HR’s credibility with regards to the broader organisational goals, but will encourage a well-structured, performance-linked variable pay system based on tested models.

The basic theoretic bases of mamagement costs and revenues. The short characteristic of the company. The analysis of basic and external process of the firm icnluded their discription and consequences. The analysis of the costs and revenues of the company directly linked on the company processes. The basic preparation on completion ISO standards.

Czech market offers sadly no simple solution for making a fast payment on the internet for the low-cost. Comparing to the world trends the Czech internet community has small experience with online and fast payment. About 100 million of users use micropayment system every day worldwide. This is a significant trend that Czech market will follow soon. Czech internet e-commerce grows steeply gradually. Marketing company GfK Praha released research according to which 3 millions of Czech internet users made shopping payment on the web last year. This outstanding figure proves a growth in habit of using the internet for e-commerce purposes. Users reveal the real flexibility of the web which can offer not only information base but also mainly entertainment side. The worldwide tendency of digitalization shows convergence of the internet and home entertainment. It is clear that the direction of the internet will become the home medium centre soon. Web services such as TV, gaming, voice, data sharing are already on the net. It is clear that the internet business of intangible services is on the start and awaits its expansion. New services of this king will surely bring new demand for fast web payment solution.

支付是商業交易活動中很重要的一環，是買家和賣家之間價值的交換。隨著經濟的發展，支付的需求日趨增長，也因此促使支付方式持續地進化發展。從最早的以物易物方式，以商品貨幣作為價值交換的媒介，到現金以錢幣紙幣的形態出現，一直到訊息通訊技術的蓬勃發展，在電腦和網路的普及下發展出許多線上支付的相關創新服務。支付領域經歷了一連串的演進轉變，現代生活中，市場上有非常多支付方式供我們選擇，我們能夠透過簡單的點擊操作快速完成線上付款，也能利用行動裝置輕易的在刷卡機前感應付款，在我們能夠方便快速地完成支付行為的同時，卻對於支付系統背後的實際運作不甚了解。此篇研究希望透過不同種類支付方式的解構來深入探討支付創新。 此篇研究以支付系統的角度建構了由支付活動參與角色所組成的架構圖，架構圖中包含了付款者、收款者、付款者的銀行、收款者的銀行、負責結算與清算的清算所與信用卡公司等角色。透過多重個案分析，研究多個支付服務案例，在架構圖中依步驟流程拆解、呈現其資訊流和金流，了解各種支付方式的實際運作過程，觀察各個支付系統及角色間互動合作的關係。不僅透過多個案例的流程解構與套用來強化、驗證此研究所建立的架構圖，針對每個挑選出的個案也進行深入分析，分別以付款者和收款者的角度，呈現相關關鍵特性包含支付服務的手續費及收款與付款的時間。此外，經過多重個案的深度觀察與解析，此研究也根據支付系統現況提出相關現象的討論。此篇研究提供一個解構支付服務的工具，希望透過多重個案的解析與觀察更深入了解支付創新。 / Payment is a crucial part of commercial activity that occurs in our daily lives. As an economy expands, the requirements of payment increase rapidly, which gives rise to the continuous evolvement of various payment methods. We have evolved from a barter system to the use of cash and paper-based payment instruments, to the advent of information communication technology (ICT) which contributes to online payments, along with the creation of many types of innovative payment methods. This process has been a series of innovations in payment domains. Although many payment methods currently exist, there is a limited understanding of how payment systems work and what actually happens when we pay with a single click online or complete the payment in a flash by placing a mobile phone close to a merchant point-of-sale terminal. This study is dedicated to deconstructing various kinds of payment systems to understand payment innovations in depth. To explore the information flow and cash flow operating in the ecosystem, this study develops a framework for analyzing a payment system based on the literature. The framework consists of a payer and payee who connect through transactions and launch a series of payment processes that include institutions such as the payer’s and payee’s bank, and intermediaries such as a credit card association, a settlement bank, and a clearing house that handles the clearing and settlement process. These components interact and cooperate to fulfill payment activities. The framework, which aims to illustrate the role that each component plays and how complicated payment systems work, is expected to cover all kinds of payment methods. We enhance and verify the framework by applying several cases for traditional and innovative payment methods. With these selected cases, we analyze payment processes between participants and clarify features relating to payment fees and time in respect to payers and payees. Through the observation of multiple cases, we also derive particular facts from the payment operation in the present ecosystem. We hope that the research will offer an instrument to better understand payment systems and provide an in-depth deconstruction and observation for payment innovation.

A Rationale for Tying Merchants' Membership of Platforms Serving Independent Markets. This thesis was submitted to the University of Manchester for the degree of Doctor of Social Sciences in the Faculty of Humanities by Michael King during September 2010. I analyses the effect of tying sellers' membership of a monopoly platform to membership of another platform, which operates in an otherwise competitive market. Visa's contentious use of the honour-all-cards rule to tie their debit and credit cards is an example of such a tie-in. There has been a move to judge tying cases under "rule of reason", which permits dubious practices when they are indispensable to creating economic benefit. However, a proportion of the extra-surplus must be passed on to consumers ("pass on test"). Rochet and Tirole (2008) claimed that tying payment cards raised Visa's profit without harming end-users. However, this doesn't fully address the concerns of regulators. Hence, my thesis investigates whether tying satisfied the "pass on test". Part I: In Rochet-Tirole (2008) sellers operate in two independent markets (ç and d). Network A runs platforms in both markets; and Network B only operates in market d. The price-level (buyer-fee plus seller-fee) on a network's platforms is exogenously determined but they can choose the price-structure. My study extended this framework by explicitly modelling competition in the product market. Part II: Platform competition leads to a price-structure that maximizes the net-benefit received by buyers and sellers. In contrast, a monopoly platform extracts most of the surplus by encouraging excessive use of payment-cards. Therefore, if tying is prohibited, then competition for sellers in market d leads to an optimal price-structure. However, Network A extracts most of the surplus created by its monopoly platform. Finally, if the average transaction-cost, τ, exceeds the price-level, ρ, then the net-benefit generated by a monopoly platform remains strictly positive. Part III: By tying its platforms Network A can exclude Network B. However, Network A is unable to exclude Network B just by matching the net-benefit it generates; rather, it must "compensate" sellers for the extra competition they face from being on the same network. Therefore, if tying is permitted, then the total net-benefit on Network A exceeds the maximum benefit that can be generated by a single platform. Part IV: It was found that if transaction-fees, ρ, are high relative to transaction-costs, τ, then tying always increases the consumer surplus. However, if transaction-fees, ρ, are low relative to transaction-costs, τ, then tying doesn't benefit consumers; and will reduce the consumer-surplus if their transaction-costs are sufficiently high.