The paper covers issues of item-selling based payment model(micro-transactions) in Korean online games. Firstly, we characterize two payment models in online game: subscription based payment model and item-selling based payment model. We then investigate and characterize itemselling based payment model in online games and introduce two online games, “Kart Rider” and “Special Force” which have b...

Mobile payment allows consumers to make more flexible payments through convenient mobile devices. While mobile payment is easy and time save, the operation and security of mobile payment must ensure that the payment is fast, convenient, reliable and safety in order to increase the users’ satisfaction. Therefore, this study based on technology acceptance model to explore the impact of external v...

In recent years, traditional transactions have been replaced by electronic transactions. To protect the security of the electronic transactions, various electronic payment (e-payment) mechanisms have been proposed. However, we find the previous e-payment mechanisms do not provide the non-repudiation requirement in the client side. Thus, a malicious client can easily deny the transaction and the...

Many health policy analysts envision provider payment reforms currently under development as replacements for the traditional fee-forservice payment system. Reforms include per episode bundled payment and elements of capitation, such as global payments or accountable care organizations. But even if these approaches succeed and are widely adopted, the core method of payment to many physicians fo...

This assessment of the future of Internet payments concentrates on the potential of serverbased Internet payment systems. The central server-based approach is seen as a relevant future trend and "paradigm shift" in the development of Internet Payment systems. The analysis therefore goes beyond the mere observation of a "second generation" of Internet payment systems (such as prepaid scratch car...

I n a modern economy, a large fraction of payments for goods and services involve the services of one or more banks. The provision of payment services is, in fact, one of the distinguishing characteristics of banks. A bank-intermediated payment instrument, such as a check, typically communicates instructions to the buyer’s bank to make payment to the seller or the seller’s bank. Often, then, we...

The high market penetrations of mobile personal devices including mobile phones, PDAs have paved a way for the development of new application models in Mobile Commerce. Mobile phones are well suited with mobile commerce to reach the customers anywhere and at any time. Mobile Payments are the natural evolution of e-payment schemes that facilitate mobile commerce. The mobile payment markets are c...

Payment systems need to address a number of security issues in order to be an effective and secure means of transferring payments across the Internet. To be accessible to a wider audience, they also need to be easy to use for their end-users (customers and merchants). Trying to address these issues, we created the Internet Payment System (IPS). IPS tries to combine the advantages of several exi...

Credit derivatives are subject to at least two sources of risk: the default time and the recovery payment. This paper examines the impact of modeling the recovery payment on hedging strategies in a reduced-form model as well as a Merton-type model. We show that quadratic hedging approaches do only depend on the expected recovery payment at default and not the whole shape of the recovery payment...