• 통상정보연구
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• 제9권2호
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• pp.123-140
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• 2007

This paper wants to suggest some issues on the acceptance of payment order in Electronic Funds Transfer of USA. The result can be summarized as fellows; First, originator's bank accepts a payment order when it executes the order. Secondly, beneficiary's bank accepts a payment order at the earliest of the following times: (1) when the bank pays the beneficiary as stated in Section 4A-405(a) or 4A-405(b), (2) when the bank notifies the beneficiary of receipt of the order or that the account of the beneficiary has been credited with respect to the order unless the notice indicates that the bank is rejecting the order or that funds with respect to the order may not be withdrawn or used until receipt of payment from of the order. (3) when the bank receives payment of the entire amount of the sender's order pursuant to Section 4A-403(a)(1) or 4A-403(a)(2). Lastly, the acceptance of a payment order cannot occur before the order is received by the receiving bank.

• 통상정보연구
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• 제11권1호
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• pp.27-43
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• 2009

This article explored the customers protection regulations in electronic payment system by Article 4A of the UCC and EFTA of 1978 and by Electronic Financial Transaction Act of Korea. Both Korea and America have various regulations to protect concerned parties(customers). For examples, the errors of payment order, money-back guarantee, and unauthorized payment order etc. First, this Article focuses on the allocation of risk of loss caused by ambiguous term in payment orders that do not express the subjective intention of the senders. Second, most rights and obligations created by Article 4A of America can be varied with the agreement of affected parties. But there are some exceptions. The exceptions include the money-back guarantee. So Receiving bank have to pay to originator the ordered money included interest. However, Korea also has money-back guarantee but bank do not pay interest to sender. Lastly, Electronic Funds Transfer Act of 1978 and Regulation E has US$ 50 regulation in order to protect customers on the unauthorized payment order. Article 4A imposes duty to detect unauthorized payment orders to originator in relation to the establishment of commercially reasonable security procedure, while Korean law imposes the duty to notify the bank in order to decrease the loss resulted from unauthorized payment order.

• 통상정보연구
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• 제12권3호
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• pp.35-53
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• 2010

In connection with a non-cash payment through the banking system, "finality of payment" has acquired diverse meanings. In according to Section 4A-209(2), the acceptance by the beneficiary's bank by means of receiving payment "pursuant to section 4A-403(a)(1) or 4A-403(a)(2)," constitutes final settlement through a Federal Reserve Bank or through a funds-transfer system" or credit to the account of the beneficiary's bank. Above of all, Acceptance by beneficiary's bank is the most important. According to 4A-209(b), the beneficiary's bank can accept a payment order in one of four ways : First, by paying the beneficiary; obligating itself to pay the beneficiary or, Second, by notifying the beneficiary of receipt of the order or notifying the beneficiary that its account was credited or, Thirdly, by receiving full payment from the sender's order or Lastly, by passage of time, i.e., the opening of the next funds transfer business day of the bank following the payment date of the order. A beneficiary's bank is considered to have accepted a payment order when the earliest of the four means of acceptance occurs.

• 통상정보연구
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• 제10권2호
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• pp.283-304
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• 2008

According to globalization and localization of world economics international trade payment method was also changed. A traditional payment was Letter of Credit basis, however it is being increased to various methods such as remittance, documentary collection(D/P, D/A) and open account. In order to acquire a secure export payment, exporters prefer to L/C basis which is guaranteed by a reliable bank. However, the L/C should bear a security so that importers would rather documentary collection than L/C. The reasons for the preference of collection payment rather than L/C are a low commission cost, the conversion of buyer's market from seller's market due to severe competition in the world market, transaction increase between main office and branches and a right to control the goods until executing the payment by exporters. Besides of them, collection payment can handle safer and faster than open account basis. However, the collection payment has a risk which it isn't guaranteed by bank for the payment so that I would suggest countermeasures to minimize the payment risk utilizing the collection basis as follows; using export credit insurance system, a large domestic credit report provider such as D&B for absolutely fresh and new information, a collection proxy service for overseas deferred credit and suggestion specifying to order B/L not straight one on consignee in order to transfer the right of ownership with endorsement without problem.

• 통상정보연구
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• 제12권1호
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• pp.35-54
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• 2010

This article explored the bank's responsibilities in electronic payment system between Korea and U.S.A. In order to complete my research object, I used Article 4A of the U.C.C. and EFTA of 1978 and by Electronic Financial Transaction Act of Korea as a analytic instruments. I also adapted America's various regulations to regulate concerned parties(banks). The system of this article is going to display as fellows; First, I presented recent trend and legal stabilities of electronic payment in this article. Second, I focuses on the allocation of risk of loss caused by ambiguous term in payment orders that do not express the subjective intention of the senders. I also did analyze the solution procession of error occurring in course of send of payment order. Third, In any action which involves a customers's liability for an unauthorized electronic fund transfer, the burden of proof is upon the financial institution to show that the electronic fund transfer was authorized. Forth, Customers have to report the error and unauthorized electronic fund transfer after awaring of it. Then bank will be liable for such a unauthorized electronic fund transfer. But If customer's failure to report, the bank has exemptions. Lastly, In order to prevent or detect the unauthorized electronic fund transfer, bank will agree with custom to establish a commercially reasonable security procedure, while bank has duties to notify in order to decrease the loss resulted from unauthorized payment order in korea law.

• 한국IT서비스학회지
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• 제21권1호
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• pp.21-40
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• 2022

Advances in information and communication technology have introduced self-service technologies (SSTs) to service companies, changing the way they serve. In addition, as SSTs are expanding for low cost and high efficiency, opportunities for technology to interact with consumers have increased. Restaurant managers have the advantage of the SSTs win-win strategy, which allows consumers to freely receive the products or services they want, but some consumers have low satisfaction of the SSTs, especially elder people and the blind. This study examines the effect of unmanned order payment technology on service quality evaluation. For this, we interviewed a total of 12 consumers in their 10s to 50s with the experiences of using unmanned order payment technology, applying the Grounded Theory Method(GTM). Through a review of the research participant interview materials, totally 84 concepts were derived and the concepts were analyzed to derive 15 subcategories and 10 upper categories. Finally, a paradigm model of the effect of unmanned order payment technology on service quality assessment was derived. It also found the importance of consumers' sense of obligation to use unmanned order payment technology, recognition of advantages (e.g., time savings), recognition of shadow labor, and recognition of whether the technology usage process is in the service quality assessment stage.

• Journal of Information Technology Applications and Management
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• 제25권1호
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• pp.105-124
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• 2018

The usage level of SMEs' win-win payment system is still lower than originally expected. In order to find the answer, we studied SMEs' usage performance of win-win payment system and analyzed the influencing factors of SMEs' usage level of win-win payment system. This study found that the more SMEs utilize win-win payment system, the higher they achieve the desired performance in finance, customer, process, learning and growth perspective. And this study found that usage level of win-win payment system is high in order of large corporations' pressure, government policy, and SMEs' readiness. This study is expected to improve win-win growth by increasing usage level of win-win payment system between large corporations and SMEs, while establishing desirable ecosystems.

• The Journal of Asian Finance, Economics and Business
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• 제8권1호
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• pp.939-950
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• 2021

The purpose of this research is to investigate the factors affecting Thai commercial bank users' behavioral intention towards QR code payment system via mobile banking applications. The researchers conducted the study based on quantitative research approach. Non-probability sampling method such as the quota and convenience sampling was applied as sampling technique. A self-administered questionnaire was distributed. The data was collected from 1,800 respondents living in Bangkok, who have had an experience with QR code payment system with the top-three mobile banking applications in Thailand. This study concentrates on confirmatory factor analysis and structural equation modeling as a statistical tool to examine the data, model accuracy, and influence of critical variables. In addition, the researchers applied the first-order and second-order techniques to examine the relationship between constructs. Adoption readiness and perceived risk were second-order constructs. The results reveled that compatibility has an impact on attitude towards QR code payment. Moreover, adoption readiness, compatibility, attitude, and personal innovativeness are statistically significant that impact behavioral intention towards QR code payment. The strongest antecedents of behavioral intention were compatibility, attitude, adoption readiness, and personal innovativeness, respectively. Surprisingly, perceived risk and perceived trust do not statistically have a significant impact on behavioral intention towards QR code payment.

• 보건행정학회지
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• 제33권4호
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• pp.379-388
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• 2023

This study aims to propose the implementation of innovative payment models in Korea in order to promote the financial sustainability of the national health insurance system by reviewing the current status of the payment system in Korea and examining other countries' experiences with various innovative payment models. Korea primarily uses a fee-for-service payment system and additionally uses various payment systems such as case payment, per diem, and pay-for-performance. However, each payment system has its limitations. Many OECD (Organization for Economic Cooperation and Development) countries have pointed out the limitations of existing payment systems and have been attempting various innovative payment models (e.g., add-on payment, bundled payment, and population-based payment). Therefore, it is essential for Korea to consider innovative payment models, such as a mixed payment model that takes into account the strengths and weaknesses of each payment system, and to design and pilot these models. This process requires stakeholders to work together to build a social consensus on the implementation of innovative payment systems and to refine legal and systematic aspects, develop an integrated health information system, and establish dedicated organizations and committees. These efforts towards innovative payment models will contribute to developing a sustainable health insurance system that ensures the public's health and well-being in Korea.

• Journal of Information Technology Applications and Management
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• 제10권3호
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• pp.93-108
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• 2003

As Electronic Commerce is popularized, crimes related to Electronic Commerce are also increasing, Electronic shopping malls and payment gateways focus their attention on network security of payment information or the sizes of encryption keys, In real world, however, the payment-related crimes in electronic shopping malls are not based on the security hole of encryption mechanism of the payment systems, but on the customers carelessness or the insecurity of server systems of merchants or financial institutes. So, this research analyzes the structure of current electronic payment systems, investigates the payment-related crimes, addresses the structural problems of the Korean electronic payment systems, and suggests an alternative general architecture for secure payment systems by incorporating the concept of separation of order information and payment information.