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The document discusses challenges for payment systems in Malaysia, including network connectivity issues and the complexity of e-payment systems. It also discusses the role of central banks in conducting monetary policy and achieving price stability while payment systems evolve from paper-based to online transactions. Small businesses face challenges with chargebacks, so working with payment processors is recommended.

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0% found this document useful (0 votes)
22 views

Group Part

The document discusses challenges for payment systems in Malaysia, including network connectivity issues and the complexity of e-payment systems. It also discusses the role of central banks in conducting monetary policy and achieving price stability while payment systems evolve from paper-based to online transactions. Small businesses face challenges with chargebacks, so working with payment processors is recommended.

Uploaded by

cikedis.choco
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Challenge for Payment System in Malaysia

Main factor that showa how struggle evolving payment system network connectivity as the
main challenge. Network connection seen as one of the main cause point. That factor remain
issued as the changing problem came through traditional into modern payment system. Some
others people think that the e-payment system is too complex. An advance users based on
experience stated that PIN password sometimes hard to remembered. The conversion of
online payments is defined as the ratio of successful transaction to the total number of
attempts as a percentage. Conversion rates can be affected by everything from the type of
transaction, the region in which it originates, or even the time of day. Many type os steps to
improving the offering and goodness electronic payment services. Apart from getting
improving the infrastructure for better using of internet banking services, positioning the
debit card as a mainly exchange for cash. Government to play a the role in facilitate the
migration cash into electronic payments.
Producing money looks like sound very interesting but another part will shows some vendors
escpecially small medium enterprise. The advancement technology nowsday including
both merchants and users expect nothing beside safety in digital experience. In growing
online payment system processing market, demands for multi currency options and increasing
in user of casgless payment system and challenges for all parties involved such many
industries in business. Even though the excessively monetary policy might be beneficial for
the public by decreasing unemployment rate it will only last for a short period of time and
give greater disadvantages in the long run.
The main difficulties challenged by the freshy established central banks in transition
economies was the less independence to conduct monetary policies itself. Central banks need
to conduct monetary policy while achive stability of price. Evolving from paper based
payments to online transaction would make cost savings and nore efficiency to the entire
economy. In running with international standards from business cycle stated caused by
expansionary policies that are higher expectation, as the politicians want to increase their
chances being campaign. Eliminating the central bank independence might make it more
short-sighted and subject to political influence. Central banks main remain with their
objective t control the inflation . In order to achieve their objectives, they need to minimize
expenditure of government. Central banks may pressured by the government. This type of
policies stated that which in short term or long term will affect economy. This will then lead
to a more pronounced political business cycle.
Even though any surcharge directly by banks, the payment processor plays an important part
in resolving refund and helping merchants maintain a safe position in credit transaction of a
company. Small companies are especially getting lower acknowledgement due to insufficient
knowledge in managing the chargebacks maintaining thier credit. Therefore join venture with
payment processor so that they can provide clearly information about chargeback
management plan. Clear explanation policies gonna make the well financial plan between
growing business or destroyed it. It highly recommanded for using Securities Settlement
Systems as variety system in worldwide recognized for systemically important payment
sysrems with highly security manageable.
CONCLUSION
This unit looked at the question of whether the financial markets are efficient in the sense that
prices demanded are fair and reflect all known and relevant information about investments.
This financial system is provided by financial institutions through attractive schemes. The
weak form states merely that the current price already reflects all information incorporated
into previous prices, so that each successive price move is a reaction to fresh news and
therefore cannot be predicted from old prices. The semi-strong form states that all public
information is already in the price and the strong form states that all information, public or
private, is already discounted.
Global crisis put to the possibility that the relationship between financial payment system and
output growth may not standardized by policy. They are considered to have regulations on
trading, clear pricing strategy and cost saving which are well defined. If the financial markets
did not exist the payment system of a country would not sucessfully achieved.
This paper attempts to examine systematically the importance of payment system in country
and function of central bank. Which are the part of findings refer to payment system in
Malaysia. Lastly the challenge or obligation in payment system for migration from traditional
to cashless.
DEBIT CARD
‘000 INTERNATIONAL
TOTAL e-DEBIT OTHERS
DEBIT
2010 29,941.1 3,821.2 20,991.9 5,128.1
2011 34,992.9 4,363.6 22,425.5 8,203.8
2012 34,630.2 4,787.1 17,236.5 12,606.5
2013 38,226.1 5,519.1 17,363.1 15,343.9
2014 40,108.7 6,255.8 15,454.7 18,398.1
2015 42,191.7 6,170.2 14,544.3 21,477.2
2016 43,668.6 1,016.0 11,844.0 30,808.6
2017 42,029.8 218.5 4,648.9 37,162.4
2018 42,492.8 105.1 3,703.2 38,684.5
2019 43,269.8 94.3 1,935.3 41,240.2

The results for number of debit card user of payment instruments and the maximum
international debit statistic observed in the table indicated a maximum rank of one for the
scenario selected at the year 2014. The shift to electronic payments is an area which quantum
leap forward can be made essential to achieve highest quest. Therefore shifting savingcan
generate an annual up to 1% of GDP variables in this model have one long run cointegrating.
These type o result shows which were originally made by cash and cheques traditionally
being made electronically with changing in term of user also saving cost channels.
REFERENCES
https://blog.2checkout.com/online-payment-processing-challenges-overcome/

https://www.bnm.gov.my/index.php?ch=ps&pg=ps_mps_sys&ac=169&lang=en

https://www.essaysauce.com/finance-essays/essay-the-challenges-of-e-payment-system-in-the-
livelihood-empowerment-against-poverty-programme-a-case-of-ga-south/

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