A study on implementing a domestic payment scheme in Maldives

In spite of the fact that Maldives Monetary Authority issued license to eight banks to operate in Maldives and two mobile operators for providing mobile payment service in Maldives, digital payment industry in Maldives continue with challenges due to banks and service providers operate in an independent environment. This research is a study on implementing a domestic payment scheme in Maldives which will act as a national payment network interconnected by banks and all the payment service providers in Maldives. The first phase of the research involves studying and analyzing domestic payment solutions implemented and operating on countries from various regions around the globe. Second phase involves understanding the people and their interaction towards different digital payment methods including existing and new trends. Finally proposing an enhanced and tailored framework for Maldives digital payment ecosystem.

Inhaltsverzeichnis (Table of Contents)

• Abstract
• Acknowledgements
• Chapter 1: Introduction
• 1.1 Background of the Study
• 1.2 Problem Statement
• 1.3 Research Questions
• 1.4 Scope of the Study
• 1.5 Significance of the Study
• 1.6 Organization of the Study
• Chapter 2: Literature Review
• 2.1 Digital Payment Systems
• 2.1.1 Evolution of Digital Payments
• 2.1.2 Types of Digital Payment Systems
• 2.1.3 Benefits and Challenges of Digital Payments
• 2.2 Domestic Payment Schemes
• 2.2.1 Key Features of Domestic Payment Schemes
• 2.2.2 Regulatory Frameworks for Domestic Payment Schemes
• 2.2.3 Success Factors and Challenges of Implementing Domestic Payment Schemes
• 2.3 Digital Payment Systems in Maldives
• 2.3.1 Current State of Digital Payments in Maldives
• 2.3.2 Challenges of Implementing Digital Payment Systems in Maldives
• 2.3.3 Opportunities for Enhancing Digital Payment Ecosystem in Maldives
• Chapter 3: Research Methodology
• 3.1 Research Approach
• 3.2 Research Design
• 3.3 Data Collection Methods
• 3.4 Data Analysis Techniques
• 3.5 Ethical Considerations
• Chapter 4: Findings and Analysis
• 4.1 Analysis of Domestic Payment Schemes in Other Countries
• 4.2 Analysis of Digital Payment Trends and User Perceptions in Maldives
• 4.3 Identification of Key Factors for Successful Implementation of Domestic Payment Scheme in Maldives
• Chapter 5: Discussion and Recommendations
• 5.1 Discussion of Findings
• 5.2 Recommendations for Implementing Domestic Payment Scheme in Maldives
• 5.3 Future Research Directions

Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)

This research aims to investigate the feasibility and implications of implementing a domestic payment scheme in the Maldives, providing a comprehensive framework for enhancing the country's digital payment ecosystem. The research focuses on understanding the existing digital payment landscape, analyzing successful domestic payment schemes in other countries, and exploring the potential of a tailored framework for the Maldives.

• The evolution and current state of digital payment systems globally
• Key features and challenges of domestic payment schemes, drawing lessons from international best practices
• Analyzing user perceptions and trends in digital payment adoption within the Maldives
• Developing a tailored framework for a domestic payment scheme in the Maldives, addressing unique challenges and opportunities
• Exploring the potential impact of a domestic payment scheme on the Maldivian economy and society

Zusammenfassung der Kapitel (Chapter Summaries)

Chapter 1 provides an introduction to the study, outlining the background, problem statement, research questions, scope, significance, and organization of the research. Chapter 2 presents a comprehensive literature review, exploring the evolution and types of digital payment systems, key features of domestic payment schemes, and the current state of digital payments in the Maldives. Chapter 3 details the research methodology, including the research approach, design, data collection methods, analysis techniques, and ethical considerations. Chapter 4 presents the findings and analysis of the research, analyzing domestic payment schemes in other countries, user perceptions and trends in digital payment adoption in the Maldives, and identifying key factors for successful implementation. Chapter 5 discusses the findings and provides recommendations for implementing a domestic payment scheme in the Maldives, exploring future research directions.

Schlüsselwörter (Keywords)

The research focuses on key areas such as digital payment systems, domestic payment schemes, mobile payment, the Maldives Monetary Authority (MMA), and the digital payment ecosystem in the Maldives. This study explores the feasibility of implementing a national payment network that connects banks and all payment service providers in the Maldives, aiming to improve digital payment efficiency and financial inclusion.

Details

• College: Open University Malaysia
• Grade: 3.67
• Author: Moosa Saifulla (Author)
• Publication Year: 2017
• Pages: 68
• Catalog Number: V434930
• ISBN (eBook): 9783668767812
• ISBN (Book): 9783668767829
• Language: English
• Tags: Payment option Payment scheme Mobile contactless card technology Payment systems in Maldives