Credit card usage has been increased tremendously because of the popularity of E-commerce. As the usage of credit card grows the occurrence of fraudulent transactions also increases, thus comes the stipulation of fraud detection. Detection of fraudulent transaction using credit card plays a vital role in financial institutions. In the proposed work, fraud detection is done with data mining appr...

The paper considers a general approach for classifying objects using mathematical programming algorithms. The approach is based on optimizing a utility function, which is quadratic in indicator parameters and is linear in control parameters (which need to be identified). Qualitative characteristics of the utility function, such as monotonicity in some variables, are included using additional co...

Communications networks are traditionally used to bring information together. In this paper, we use them to keep information apart in order to protect personal privacy. We show how to implement anonymous credit cards using simple building blocks and standard cryptographic techniques. We propose a systematic method to determine the set of parties that must collude to bring information together. ...

In this article, we investigate why merchants accept credit cards for payment despite the relatively high cost of processing these types of transactions. A two-period model is constructed to determine under what conditions a credit card equilibrium would exist. The results of the model indicate that when the cost of funds is not too high and when the merchant’s profit margin is sufficiently hig...

The paper considers a general approach for classifying objects using mathematical programming algorithms. The approach is based on optimizing a utility function, which is quadratic in indicator parameters and is linear in control parameters (which need to be identified). Qualitative characteristics of the utility function, such as monotonicity in some variables, are included using additional co...

There is an ongoing debate about the credit card industry regarding how effective competition has been at reducing prices. Some experts argue that intense competition is clearly evident and leads to low prices that contain no excess profit. However, other experts find evidence both in price data and in market concentration that competition has failed. A model is presented here showing that if t...

This paper proposes the novel concept of Autonomous Restructuring Portfolios which would enable financial portfolios to re-adjust themselves to cater with the highly volatile customer behavior pattern. It investigates the possibility of using Kohonen’s Self Organizing Maps in analyzing, categorizing & modifying strategies applied on financial portfolios according to the its behavior patterns. I...

With the rise and swift growth of E-Commerce, credit card uses for online purchases has increased dramatically and it caused sudden outbreak in the credit card fraud. Fraud is one of the major ethical issues in the credit card industry. With both online as well as regular purchase, credit card becomes the most popular mode of payment with cases of fraud associated with it are also increasing. A...