Nobody downloaded yet

Payment Model for Financial Transaction Using MyKad - Research Paper Example

Comments (0) Cite this document
Summary
Internet is place for so many activities taking place online like selling and purchases resulting in money transactions. The open nature of internet makes it dangerous place to conduct any transaction as the hackers are on the prowl all the time on the internet waiting to have access to the financial information of the user…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER92.1% of users find it useful
Payment Model for Financial Transaction Using MyKad
Read TextPreview

Extract of sample "Payment Model for Financial Transaction Using MyKad"

Download file to see previous pages MyKad being a smartcard providing one stop service can be used to process the payments. (Ivest4MyKad, 2004) MyKad application works in eight sectors which can be shown in the figure below which states that e-commerce transactions is one of the key services offered by MyKad. Therefore it is necessary to understand the technological process involved and design methodology used to develop a smartcard that is multifunctional at all levels and supports general citizens. (Huo-Chong Ling and Raphael C. - W. Pham)
According to Kerlinger (1986), research design is a plan, structure and strategy of investigation as envisioned as to obtain the required output to the research questions or problems. The research plan is program of the research to be conducted which includes the outline of the things to be done by the principal investigator right from the beginning by formulating hypothesis and their suggestions and understanding through final data analysis. Further Thyer (1993) states that traditional research design is a blueprint or detailed program on how the research will be completed and how the data will be gathered that will support the suggestions and concluding remarks of the researcher through data analysis. (Kumar, 2005)
As research designs are prepared to answer the questions of the researcher, it is necessary to adopt the appropriate method of research to collect the data. There are two basic ways of approaching to the research; quantitative approach and the qualitative approach. Quantitative approach is involved in collecting as much data as possible in quantitative form so that it can used to express the rigorous quantitative analysis. Whereas qualitative approach to research deals with specific criteria of the particular subject by observing, assessing the attitude and behavior. (Kothari, 2008)
Quantitative research is further classified into sub categories like inferential, experimental and simulation approaches to research. Inferential approach can be used to collect data upon the data could be used to infer the characteristics or relationships of the population of selected area which has been decided the researcher to survey for detailed results. Experimental approach is to get the desired results by manipulating the data. Simulation approach is greatly concerned with artificial environment. In this type of research approach, relevant information and data can be generated through artificial environment through observation of the systems and its sub systems under uncontrolled conditions. Simulation approach is mostly used in business and social sciences application that refers to the operation of numerical model representing the structure of dynamic process which can be known through input of valuable data, initial conditions, parameters and exogenous variables. (Kothari, 2008)
Ethridge D.E. (2004) states that computer technology along with difficult statistical and mathematical simulation techniques shows us the way to explore and define the complex nature of economic phenomena and relationships. As MyKad is a Government Multipurpose Card to enable the Malaysians have access to public and private services. The MyKad data storage services allow the general ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Payment Model for Financial Transaction Using MyKad Research Paper”, n.d.)
Payment Model for Financial Transaction Using MyKad Research Paper. Retrieved from https://studentshare.org/miscellaneous/1530881-payment-model-for-financial-transaction-using-mykad
(Payment Model for Financial Transaction Using MyKad Research Paper)
Payment Model for Financial Transaction Using MyKad Research Paper. https://studentshare.org/miscellaneous/1530881-payment-model-for-financial-transaction-using-mykad.
“Payment Model for Financial Transaction Using MyKad Research Paper”, n.d. https://studentshare.org/miscellaneous/1530881-payment-model-for-financial-transaction-using-mykad.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Payment Model for Financial Transaction Using MyKad

Financial Transaction Taxes

...Parliament, 2012). Tobin Tax will be examined in ‘Proposed Financial Transaction Taxes’. IV.III. Bank Transaction Tax This type of tax is used for taxing individuals from their activities associated with banking sector. Some Latin American countries experimented with taxes levied on bank transactions. Argentina introduced a bank transaction tax in 1984 before it was abolished in 1992. Brazil implemented its temporary "CPMF"(ContribuicaoProvisoria Sobre MovimentacaoFinanceira) in 1993, which lasted until 2007. The broad based tax levied on all debit (and/or credit) entries on bank accounts proved to be evasion-proof, more efficient and...
10 Pages(2500 words)Dissertation

European Union Financial Transaction Tax

...., 2012. International Book Taxation and the Financial Crisis. Oxford, UK: Oxford University Press Michalos, A.C., 1997. Good taxes: the case for taxing foreign currency exchange and other financial transactions. Toronto: Dundurn Press Ltd Honohan, P., 2003. Taxation of Financial Intermediation. Washington, DC: World Bank Publications Shavell, S., 1984. A Model of the Optimal Use of Liability and Safety Regulation. Rand Journal of Economics, 15(2), pp671-80. Stigler, G. J., 1971. The Theory of Economic Regulation. The Bell Journal of Economics and Management Science, 2(1), pp.3-21. Clifford, W., 1993. Economic Deregulation: Days of...
10 Pages(2500 words)Essay

Proposed European Union Financial Transaction Tax

...Proposed European Union Financial Transaction Tax The European Union pecuniary deal toll refers to a pitch that was the work of the European merger. The scheme recommended the imposing of a fiscal operation duty (FTT) to all the 27 affiliate regions of the body, with full achievement targeted to be in position by the end of the year 2014 (Smith, 2012:67). The imposed tax was set to affect monetary transactions happening between fiscal institutions directly by levying 0.1% on any exchange of stakes and bonds, and 0.01% on all offshoot contracts. Due to its proposed gains, many people have since nicknamed the law as the ‘Robin Hood Tax’. The general population and normal business ventures...
9 Pages(2250 words)Essay

Reflection using Gibbs model

...?Reflection Using Gibbs Model Table of Contents Table of Contents 2 Introduction 3 Gibbs Model 5 Conclusion 13 References 15 Introduction In healthcare organisations, reflection is identified as a process utilised with the purpose of reviewing, assessing and analysing experiences based on theoretical concepts with the intention of informing future actions. Reflective practice is applied as an important approach in healthcare organisations to be a reflective practitioner amid medicine, pharmacy and nursing. In this context, reflective practitioner with critical thinking along with reflection is able to mitigate the gap, which exists amid healthcare practices and concepts. Moreover, with...
12 Pages(3000 words)Essay

Using foreign financial statements

...1. Summary of the Article The article under review is 'Found in Translation - A Guide to Using Foreign Financial ments' by Susan M. Sorensen and Donald L. Kyle. The article was published in February 2007 edition of 'Journal of Accountancy'. The article is about a very important field in contemporary financial world, vis--vis, the skills' requirements to read financial statements of foreign companies and extracting information of interest from these financials. The article presents some techniques that organizations usually employ when their financial statements are provided to foreign users. This ranges from doing nothing (in which...
3 Pages(750 words)Article

Financial Planning Model

...of are not significant" - and accordingly, even under this situation the shortfall would be covered by short-term borrowings of the hospital. Even under a case where patient days would not experience growth, the project would still be financially feasible. In addition to testing for patient day growth projections, the financial model was also used to identify and test which among variables are sources of considerable financial risk. Among the variables that would have the most adverse effect ("high sensitivity) on the net cash-flow of the hospital are patient-day demand, revenue per day, operating costs, and Medicare-Medicaid limitations and losses. A...
2 Pages(500 words)Essay

EXTRA PAYMENT

...Analysis of Competitive Strategy (Michael Porter, 2008) Michael Porter’s model of Competitive Advantage gives us two broad-based models of Competitiveness: Cost Leadership or Product Differentiation. In today’s fiercely competitive business environment, following just one model unilaterally does not guarantee success. Clearly, British Airways is trying to follow the Product Differentiation strategy by offering exceptional quality of service to its customers. BA needs to look at the following issues before it can develop a comprehensive and successful competitive strategy: The airlines industry is fiercely competitive, with too many highly motivated players striving to...
8 Pages(2000 words)Essay

Analysis using IS-LM model

...Analysis using IS-LM model The investment–savings/liquidity–money supply model to de the close relationship between interest rates, which are prevalent in an economy, and the real output of the economy1. The output of an economy is measured by the amount of goods and services that are produced during an economic period. The two different connections are used to measure the performance of the economy, and any improvements or losses that have been incurred. Therefore, the use of the classical theory of the IS–LM curves would be used to measure the performance of an economy in regard to interest rates savings and liquidation. These are...
2 Pages(500 words)Article

Payment plan

...Payment Plan Payment Plan Multi Fibre Agreements (MFA) is a set of guidelines drawn up to govern the trade, in textiles and garments in the world. It was designed to help countries cope with cheap textile imports by imposing quotas on exports. It helped developing countries deal with the competition posed by textile imports from developed countries. This plan aims to highlight the functioning of MFA and its economic consequences. Multi Fibre Agreements were set up approximately 30 years ago, and in the last decade there had been attempts to do away with it and the culmination of this was on 1st January 2005 when it was finally abolished. MFA worked by creating quotas that restricted the competition posed by imports irrespective... of the...
2 Pages(500 words)Essay

Transaction / Adjustment

...) e Of the proceeds from the bonds issued in part d, $7,000 is used to purchase land for future expansion -7000 ( cash decreased for purchase of land) +7000 (land purchased) f Because of warranty claims, finished goods inventories costing $200 is sent to customers to replace defective products Inventory -200 -200 ( cost against warranty claims) -200 (Warranty expense) g The company borrowed $18,000 for 3 months at a 10% (annual) interest rate) from a bank. The bank made the loan on a discount basis Cash +17550 +17550 +18000 (payment of loan) (-450 discount) h A long-term bond with principal of $25,000 will become due within the current year -25000 (cash) +25000 (long...
1 Pages(250 words)Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Research Paper on topic Payment Model for Financial Transaction Using MyKad for FREE!

Contact Us