working capital management is an essential part of the short-term finance of a firm. with an efficient working capital management, a firm can release capital for more strategic objectives, reduce the financial costs, and improve profitability. the present research studies the relationship of working capital management on performance of firms listed in tehran stock exchange (tse). average collec...

This paper investigates the effects of investment and inspection policies on an integrated production–inventory model involving defective items upstream advance-cash-credit payment provided by supplier. In this model, retailers offer customers a downstream credit period. Furthermore, rate item can be improved through capital co-investment supplier retailer. The objective study was to determine ...

Nowadays, many bank cards are smart cards (i.e. integrated-circuit cards) based on the EMV specifications for payment systems. This paper specifies how biometric on-card verification can be integrated into EMV debit and credit cards in a backwards-compatible way. The biometric verification does not change the EMV transaction flow outside the cardholder-verification step. The proposed payment sy...

This paper presents a model of a debit or credit card payment scheme, providing a simple determination of the socially optimal structure of fees between those charged to cardholders and those charged to merchants.  2003 Elsevier B.V. All rights reserved.

Most of the academic literature on retail payment systems focuses, for tractability reasons, on the case of a single payment system. However, a more realistic situation is one where several systems compete and where consumers have the choice between several means of payment (debit card, credit card, charge card, cheque, transfer, ...). This article summarises the small literature that has model...

Credit-card payment protocols such as iKP and SET use digital signatures to authenticate messages and authorize transactions. It is assumed that these digital signatures make the parties' authorizations non-repudiable, i.e., provable to a third-party veriier. In this paper, we deene a set of statements which participants in a payment may want to prove. We then investigate which of these stateme...

Credit cards have many important benefits; however, these same benefits often carry with them many privacy concerns. In particular, the need for users to be able to monitor their own transactions, as well as bank’s need to justify its payment requests from cardholders, entitle the latter to maintain a detailed log of all transactions its credit card customers were involved in. A bank can thus b...

This paper discusses the economic order quantity ( EOQ ) under partial trade credit. In 1985, Goyal assumed that: (i) The unit selling price and the unit purchasing price were equal. (ii) The supplier would offer the retailer full trade credit under condition of delay payments. The main purpose of this paper wants to modify Goyal’s model to presume that the unit selling price and the unit purch...

Online payment is significant for paperless trading, but the problem about money laundering and credit fraud is the biggest bottleneck for its development. Making the abundant customer data and financial transaction data be well ordered is a reliable clue of effectively identifying suspicious financial transactions, which is the core of financial supervision. Based on the analysis of existing p...

Due to the rapid advancement of electronic commerce technology, there is a great and dramatic increase in credit card transactions. As credit card becomes the most popular mode of payment for both online as well as regular purchase, cases of fraud associated with it are also rising; to detect credit card frauds in electronic transactions becomes the focus of risk of control of banks. The propos...