Electronic Payments Acceptance Incentives
Public Disclosure AuthorizedPublic Disclosure AuthorizedPublic Disclosure AuthorizedElectronic PaymentsAcceptance IncentivesLiterature Review and Country ExamplesAPRIL 2020Public Disclosure Authorized
CONTENTSAbbreviations 2I.Introduction 3II. Summary of findings 5Annex 1: Literature Covering Electronic Payments Acceptance Incentives 10Annex 2: Country EPA Incentives Examples 22DISCLAIMERThe Financial Inclusion Global Initiative led in partnership by the World Bank Group (WBG), International Telecommunication Union (ITU), and the Committee on Payments and Market Infrastructures(CPMI), with the support of Bill & Melinda Gates Foundation (BMGF). The FIGI program is a three-yearinvestment funding national implementations in three countries (China, Egypt, and Mexico), supportingtopical working groups to tackle 3 sets of outstanding challenges in closing the global financial inclusiongap, and hosting 3 annual symposia to gather the engaged public on topics relevant to the grant andshare intermediary learnings from its efforts.This work has been prepared for the Financial Inclusion Global Initiative by the FIGI Electronic PaymentsAcceptance (EPA) Working Group. The work is a product of the staff of the World Bank with externalcontributions prepared for the Financial Inclusion Global Initiative. The findings, interpretations, andconclusions expressed in this work do not necessarily reflect the views of the Financial Inclusion GlobalInitiative partners partners including The World Bank, its Board of Executive Directors, or the governments they represent, or the views of the Committee for Payments and Market Infrastructure, International Telecommunications Union, or the Bill & Melinda Gates Foundation.The World Bank does not guarantee the accuracy of the data included in this work. The boundaries,colors, denominations, and other information shown on any map in this work do not imply any judgment on the part of The World Bank concerning the legal status of any territory or the endorsement oracceptance of such boundaries.RIGHTS AND PERMISSIONSThe material in this work is subject to copyright. Because the World Bank encourages dissemination ofits knowledge, this work may be reproduced, in whole or in part, for noncommercial purposes as longas full attribution to this work is given. Any queries on rights and licenses, including subsidiary rights,should be addressed to the Office of the Publisher, The World Bank, 1818 H Street NW, Washington, DC20433, USA; fax: 202-522-2422; e-mail: pubrights@worldbank.org.
Electronic PaymentsAcceptance IncentivesLiterature Review and Country ExamplesAPRIL 2020
AbbreviationsAFIPAML/CFTAdministración Federal de Ingresos Públicos(Fiscal Authority of Argentina)MMOMobile Money OperatorsAnti-Money Laundering / Combating theFinancing of TerrorismMSMMicro and Small MerchantsMSMEMicro, Small and Medium EnterpriseMSPMerchant Services ProvidersMXNMexican PesoNGNNigeria NairaNPACNational Payments Advisory Council(Malaysia)NPCINational Payments Corporation of IndiaP2BPerson to BusinessP2GPerson to GovernmentPCRFPayment Card Reform Framework (Malaysia)POSPoint of SalePPMPlataforma de Pagos Móviles (Argentina)PSPPayments Service ProvidersQRQuick ResponseRBIReserve Bank of IndiaRMMalaysian RinggitSHCPSecretaría de Hacienda y Crédito Público(Mexico Finance Ministry)ARSArgentine PesoAUHAsignación Universal por Hijo (Socialprotection program)B2BBusiness to BusinessBISBank for International SettlementsBMGFBill and Melinda Gates FoundationBNMBank Negara MalaysiaBTCABetter Than Cash AllianceCFDIComprobante Fiscal Digital por Internet(Digital tax receipt)CNBVComisión Nacional Bancaria y de Valores(National Banking Commission)DNBDe Nederlandsche Bank (NetherlandsCentral Bank)EMVEuropay MasterCard VISA (Interoperabilitystandard)EPAElectronic Payments AcceptanceEUEuropean UnionSMBSmall and microbusinessesFIGIFinancial Inclusion Global InitiativeSMESmall and Medium EnterprisesG2PGovernment to PersonTIETPGDPGross Domestic ProductTax Incentive for Electronically TraceablePayments (Korea)GPFIGlobal Partnership for Financial InclusionUPIUnified Payments InterfaceIDBInter-American Development BankUSDUnited States DollarIMFInternational Monetary FundVATValue-Added TaxITUInternational Telecommunication UnionWBGWorld Bank GroupKYCKnow Your CustomerWEFWorld Economic ForumMDFMarket Development FundMDRMerchant Discount Rate2 FINANCIAL INCLUSION GLOBAL INITIATIVE
I. IntroductionThe Financial Inclusion Global Initiative (FIGI) is athree-year program funded by the Bill & Melinda GatesFoundation (BMGF) to support and accelerate theimplementation of country-led reform actions to meetnational financial inclusion targets, and ultimately theglobal ‘Universal Financial Access 2020’ goal, implemented by the World Bank along with the InternationalTelecommunications Union (ITU). FIGI aims to enablenational authorities in developing and emerging markets to better harness the potential of digital technologies for financial inclusion, and to manage associatedrisks. FIGI funds national implementations in three countries, supports topical working groups to tackle threesets of outstanding challenges (one of them being electronic payment acceptance) in closing the global financial inclusion gap, and hosts three annual symposia togather the engaged public on topics relevant to thegrant and share intermediary learnings from its efforts.The FIGI Working Group on Electronic Payments Acceptance is comprised of national authorities, internationalfinancial institutions, donors, standard setting bodies, anda wide range of private sector stakeholders. Its objectiveis to foster effective practices for enabling and encouraging acceptance and use of electronic payments, with anemphasis on person-to-business (P2B) payments, bothfor proximity payments at the point of interaction ande-commerce, and on unserved and underserved groups.One of the Working Group’s work streams is incentives toelectronic payments acceptance.The FIGI Working Group on Electronic PaymentsAcceptance is premised on the concept that giving individuals access to transaction accounts is not sufficient.Beyond achieving universal access—whereby all adultsworldwide will be able to have access to a transactionaccount or an electronic instrument to store money,send and receive payments—there is also the key issue ofwhether a transaction account actually provides benefitsto its users, which is very often reflected in how frequentlythat account is used, including to access other financialservices. Wide acceptance of non-cash payments is apre-condition to uptake and effective usage of transaction accounts to: (i) perform most, if not all, paymentneeds; (ii) to safely store some value; and (iii) to serve asa gateway to other financial services.Yet, acceptance of electronic payments remains limited among merchants: it has been estimated that P2Bpayments worldwide to medium, small and micro retailersamount to USD 18.8 trillion, only 37% of which are madeelectronically. Cash received for the purchase of goodsand services is reused along the supply chain: worldwide,the share of electronic B2B payments by medium, smalland micro retailers is 53%, and as low as 31% in South Asia.FIGI ELECTRONIC PAYMENTS ACCEPTANCE WORKING GROUP 3
This note aims to present a mapping of the most relevant literature on incentives to expand electronic payments acceptance (EPA) and some country exampleswhere these incentives have been implemented. Thegoal is to identify the gaps in the literature to assist theFIGI Electronic Payments Acceptance Working Group(EPA WG) in defining deliverables to contribute to theliterature and to policymakers’ resources.This note takes stock of the literature and some country examples of direct incentives to merchants and indirect incentives to EPA through incentives to customers.The literature review presents the most relevant publications that give a broad overview of the topic or a greater4 FINANCIAL INCLUSION GLOBAL INITIATIVEunderstanding of a specific incentive. The compilation ofpublications does not aim to be an exhaustive list of references for the topic, but rather highlights those more relevant to the EPA WG.Country examples included are those which have implemented EPA incentives and were all collected throughdesk research. Within each country, an effort was madeto include all documented incentives implemented. However, neither the incentives documented in each example,nor the list of countries should be considered exhaustive.When available, information on the effect or estimatedimpact of the incentive is presented.
II. Summary of findingsThe literature on electronic payments focusing specifically on incentives to acceptance is limited. However,there is a wealth of insights embedded in broader electronic payments ecosystem development reports as wellas in the academic literature. Based on the literatureand on examples of policies and initiatives implementedacross the world, this note lists and catalogues the various types of incentives that can be used to incentivizeelectronic payments acceptance (EPA). The incentiveswere catalogued based on whether they were implemented by the public or private sector (or a collaboration between both), and then on five broad categoriesbased on the type of incentive.The first category is the fiscal and financial incentiveswhich include merchant fiscal incentives, subsidies toretailers to install POS terminals, lotteries for consumersand merchants and consumer fiscal incentives. In general,the literature has a relatively good coverage of theseincentives as they’ve been among the most widely implemented incentives to EPA and in many cases they havedocumented positive impacts on EPA.The second category comprises regulatory measuresto incentivize or mandate EPA. This category includesencouraging merchant formalization, implementing disincentives for cash usage including cash transaction limits,regulating interchange fees and merchant discount rates,mandating the use of cash registers and mandating thedisbursement of wages and salaries by electronic payments. We also find that these incentives have beenwidely used across countries, but with mixed or undocumented results.The third category comprises ecosystem developmentincentives that are usually implemented jointly by the private and public sector. These include working on interoperability and standardization, establishing consumerprotection, promoting financial literacy, strengtheningtelecommunication infrastructure and digitizing the supply chain. These incentives are generally indirect incentives to EPA, as their goals are usually broader or otherwisefocused. However, the literature supports the role theseincentives play in promoting EPA.The fourth category includes value-added servicesthat have been shown to be critical in the cost-benefitanalysis merchants undergo when deciding whether toadopt electronic payments. Some of the documentedvalue-added services that incentivize EPA include creditsupported by electronic payments flow data, productivitysolutions, revenue generating services and client relationship management all embedded on electronic paymentsacceptance solutions.FIGI ELECTRONIC PAYMENTS ACCEPTANCE WORKING GROUP 5
The fifth category comprises technology innovationsand new business models that have enabled the cost ofelectronic payments acceptance to drop while also allowing acquirers to onboard previously hard-to-reach retailers. Some of these incentives include broadly defined newproducts and services, efforts to improve the productexperience, non-traditional partnerships among providersand the figure of payment aggregators.Table 1 presents an overview of the literature reviewed inthis note and the incentives analyzed in each publication.The main findings of these documents are later summarized in Annex I of this note. Table 2 presents an overviewof the identified incentives that were implemented in eachcountry included in this note. A description of each ofthese incentives, and the impact information where available, are presented in Annex II.From the analysis of the literature and country examples, the following common threads or potential conclusions were found: There is no single best incentive, but rather countriesseem to implement a set of incentives. The best set of incentives could be related to the levelof development in the market. Incentives have different effects in different countries;the implementation process seems to be crucial.6 FINANCIAL INCLUSION GLOBAL INITIATIVE Public sector incentives mostly focus on fiscal incentives, merchant subsidies and regulations discouragingcash use. Private sector incentives are mostly focusedon product innovation including added-value services When conducting research on incentives it is useful todivide the market into different classes of retailers andconsumers, as each of them display different needs,behaviors and challenges.The main gaps identified in the literature are two: Firstly,there is no guidance on the regulatory and political context in which each of the incentives where implementedand how this context influenced their effectiveness. Secondly, the documentation on the impact of the incentivesis scant mainly due to lack of impact evaluation embedded into the interventions/ programs.Based on the findings of this stock taking note, theElectronic Payments Acceptance Incentives workstreamwill be developing a toolkit to guide authorities, international organizations and electronic payment ecosystemstakeholders (e.g. PSPs, payment and card networks) inthe design and implementation of incentives to increaseelectronic payments acceptance. The toolkit will becomprising an assessment tool, a menu of incentivesmapped to the assessment, and an implementation notedocumenting in detail country cases that can exemplifythe incentive implementation challenges and keys tosuccess.
TABLE 1.1 Overview of incentives covered in each publicationInstitutional author and year of publication2018Institution leading /type of incentiveIncentive categoryFiscal andfinancialincentivesPublic rcardMastercardVisaxxMerchant fiscalincentivesxSubsidized POSterminalsxConsumer fiscalincentives (VAT &income tax reductions)xxxxLotteriesxxxxEncourage merchantformalizationxDisincentives for cash—cash transaction limitsxInterchange fees andmerchant discount ratesOther2016aWEFandWBG2016bVisa2016ITUxMandated cash registersxMandated disbursementof wages and salariesby electronic paymentsxxxxMixedPrivate sector2014USAIDGSMAxxxxxxxxxInteroperability andStandardizationxConsumer protectionand Financial LiteracyxTelecommunicationinfrastructurexxSupply xxxxxxxClient relationshipmanagementxNew products andservicesxxImproving the productexperiencexxNon-traditional partnershipsxPayment aggregatorsxxxxxxxx xxxxxxxxxxxxxxxRevenue generatingserviceTechnologyinnovationsand newbusinessmodels2014WBG,BMGF,BTCAxxAcceptance development fundsValue-addedservicesDNB2015xAwareness campaignsEcosystemdevelopment2016xMandated acceptanceof electronic paymentsGovernment adoptionof electronic IGI ELECTRONIC PAYMENTS ACCEPTANCE WORKING GROUPxx 7
TABLE 2.1 Overview of incentives implemented in each country exampleFiscal andfinancialincentivesSubsidized POS terminalsxxConsumer fiscal incentives (VAT reductions,income tax reductions)xMerchant fiscal incentivesPublic sectorxxxxxInterchange fees and merchant discount ratesMandated acceptance of electronic paymentsxxxxxxMandated cash registersMandated disbursement of wages and salaries byelectronic paymentsGovernment adoption of electronic paymentsAwareness campaignsMixedAcceptance development fundsEcosystemdevelopmentInteroperability and StandardizationxxxConsumer protection and Financial LiteracyTelecommunication infrastructurexxxxSupply chain digitizationPrivate sectorValue-addedservices8 CreditProductivity SolutionsRevenue generating serviceClient relationship managementTechnologyinnovationsand newbusinessmodelsKazakhstanxEncourage merchant formalizationDisincentives for cash–cash transaction GreeceEUColombiaIncentive categoryChinaInstitution leading /type of incentiveArgentinaCountry / JurisdictionNew products and servicesImproving the product experienceNon-traditional partnershipsPayment aggregatorsFINANCIAL INCLUSION GLOBAL INITIATIVExxx
TABLE 2.2 Overview of incentives implemented in each country exampleFiscal andfinancialincentivesxSubsidized POS terminalsxxLotteriesPublic sectorUSAUruguayS. KoreaNetherlandsNigeriaxMerchant fiscal incentivesConsumer fiscal incentives (VAT reductions,income tax reductions)RegulatoryMexicoIncentive categoryMalaysiaInstitution leading /type of incentiveKenyaCountry / JurisdictionxxxxxxxEncourage merchant formalizationxDisincentives for cash–cash transaction limitsxInterchange fees and merchant discount ratesxxxxxMandated acceptance of electronic paymentsMandated cash registersMandated disbursement of wages and salaries byelectronic paymentsOtherxGovernment adoption of electronic paymentsAwareness campaignsxMixedAcceptance development fundsEcosystemdevelopmentxxxxxxInteroperability and StandardizationConsumer protection and Financial LiteracyTelecommunication infrastructureSupply chain digitizationPrivate sectorValue-addedservicesTechnologyinnovationsand newbusinessmodelsCreditxxProductivity SolutionsxRevenue generating servicexClient relationship managementxNew products and servicesxImproving the product experiencexxNon-traditional partnershipsxPayment aggregatorsxFIGI ELECTRONIC PAYMENTS ACCEPTANCE WORKING GROUP 9
ANNEX ILiterature Covering Electronic PaymentsAcceptance Incentives#YearOrganizationTitle (link)CountryFocus12017aMastercardBuilding Electronic PaymentAcceptance at the Base of thePyramid to Advance FinancialInclusionInternationalAnalyzes barriers to small and microbusinessesEPA from the merchant and PSP perspective, and22018VisaMaximizing the Impact of FinancialInclusion: Merchant-CenteredDesign and the Last Mile in ChinaInternational /ChinaInsights on the importance of the merchantcentered design as an approach to incentivizeelectronic payments acceptance among thesmallest merchants.32018World BankGroupSupporting Payment SectorDevelopment: B2B corporatepayments requirements in thetraditional retail sectorInternational/IndonesiaGuidance on the foundations required to supportB2B payments in the retail sector and analysisof behavior, needs and challenges for differentretailer profiles.42018Better thanCash AllianceAchieving Development andAcceptance of an Open andInclusive Digital PaymentsInfrastructureInternationalHigh-level review of policy options and practicalaction that can help moving toward developingopen and inclusive digital payment infrastructuresand incentivize EPA and use.52017bMastercardReducing the Shadow Economythrough Electronic PaymentsCentral andSouthern EuropeAnalyzes and quantifies the costs and benefits ofdifferent policies to reduce the shadow economy,many of which incentivize electronic payments.62016aVisaPerspectives on AcceleratingGlobal Payment AcceptanceInternationalComprehensive review of EPA incentives includingcase studies and recommendations of bestincentives depending on market developmentstage.10 FINANCIAL INCLUSION GLOBAL INITIATIVE
#YearOrganizationTitle (link)CountryFocus72016World EconomicForum andWorld BankGroupInnovation in Electronic PaymentAdoption: The case of smallretailersInternationalReviews of main barriers to and incentives for EPAacceptance, from the perspective of micro, smalland medium retailers, including innovation trendsand case studies.82016ITU DigitalFinancial ServicesFGEnabling Merchant PaymentsAcceptance in the DigitalEcosystemsInternationalReview and analysis of models to supportmerchant acceptance of eMoney payments.92016bVisaSmall Merchants, Big Opportunity:The Forgotten Path to FinancialInclusionInternationalAnalysis of barriers to EPA for micro and smallmerchants based on qualitative surveys andrecommendations of incremental improvementsfor the various market stakeholders.102016De NederlanscheBankPayment behavior: the role ofsocio-psychological factorsNetherlandsAcademic paper on the socio-psychologicaldeterminants of choosing cash versus electronicpayment instruments.112015USAIDBeyond Cash: Why India LovesCash and Why That Matters forFinancial InclusionIndiaCompendium of merchant and consumerquantitative survey insights into electronicpayment acceptance and use.122014GPFIThe opportunities of digitizingpaymentsInternationalHigh-level guidelines covering paymentdigitization benefits and challenges forgovernments, recipients and providers.132014GSMASetting up shop: Strategies forbuilding effective merchantpayment networksInternationalInsights into successful approaches to merchantacquisition and management from the mobilemerchant provider perspective.1. “ Building Electronic Payment Acceptance at theBase of the Pyramid to Advance Financial Inclusion”,Mastercard. 2017.This report from Mastercard focuses on small and microbusinesses’ (SMBs) challenges to accepting electronicpayments and some potential solutions. The reportgroups the main barriers around four themes, with someof them affecting the merchants and others the paymentservice providers:i) Economics—cost of acceptance, lack of compellingproduct value proposition, cost of merchant sales andservice, regulatory overhead, and tax liability;ii) Risk—financial risk, process risk, and regulatory ambiguity and inconsistency;iii) Distribution—disengaged MSPs, and misaligned distribution model;iv) Friction—cultural affinity to cash, lack of relevant rules,and poor infrastructure.The report identifies three approaches to address thechallenges:i) New products and services—Make useful additions toproduct propositions to make electronic payment solutions attractive and relevant to SMBs. These includetechnological and process innovations that enhancevalue propositions to merchants, and improve the overall product experience. The report includes examplesof lending programs using transaction data for creditdecisions such as Square Capital, and merchantrewards programs such as Eeziklik Global.ii) New business models—Design new business modelsto reduce costs and increase the viability of businessmodels servicing SMBs, focusing on driving collaboration among payment service providers and deployingnew partnership models. These include new models ofcollaboration and cooperation among payment serviceproviders, and new partnership models that incorporate digitization across supply chains.iii) Market development initiatives—Invest in marketdevelopment initiatives through collaboration with thepublic and private sectors to overcome structural barriers to acceptance and to incent market participationand innovation.FIGI ELECTRONIC PAYMENTS ACCEPTANCE WORKING GROUP 11
FIGURE 1. Mastercard: Summary of Approaches and Levers to Drive Electronic PaymentsApproachObjectivePotential leversNew products& servicesDeploy new products and services to: Provide enhanced value proposition Improve product experienceProvide enhanced value propositionsi. Creditii. Productivity solutionsiii. Revenue generating servicesiv. Loyalty programsImprove the product experiencei. Digital ID solutionsii. Smartphone app-based solutionsiii. Real-time, push-paymentsiv. Improved and robust transaction processingv. Streamlined, variable, risk management practicesvi. Technical interoperability in products and servicesNew businessmodelsPursue innovative business modelapproached to: Increase collaboration and cooperationamong providers Overcome various acceptance barriersCollaboration and cooperation among payment service providersi. Grow both sides of the market simultaneouslyii. Resolve the “last mile” distribution challengeiii. Enable interoperabilityiv. Share resources with utility characteristicsNew partnership modelsi. Cross subsidize acceptance costsii. Digitize supply chainsMarketdevelopmentinitiativesPursue initiatives and partnerships to: O vercome structural barriers toacceptance Incent market participation andinnovationOvercome structural barriersi. Establish an enabling policy and regulatory environmentii. Enable coordination and alignment amongst ecosystem participantsiii. Investments in payments enabling public goodsIncent market participation and innovationi. Establish collaborative facilities to mitigate business riskii. Market enablement of new ecosystem participantsSource: Mastercard, 2017a.Regarding the last approach, market development initiatives, the authors argue the government plays a key rolein creating a competitive level playing field, addressingbarriers to innovation, and in ensuring optimal prices byallowing market forces to determine them. They also notethat policies aiming to drive merchant adoption shouldfocus on: i) providing incentives for adoption; and ii) minimizing the economic advantages of informality.The authors mention the following government-led initiatives to incentivize electronic payments adoption: Digitizing government flows to contribute to a criticalpayment mass; Subsidizing the cost of acceptance at early stages ofdevelopment; Creating collaboration opportunities between PSPs toensure interoperability; Investing in financial literacy; Establishing collaborative facilities to mitigate businessrisk;12 FINANCIAL INCLUSION GLOBAL INITIATIVE Enabling new ecosystem participants through newrules to develop and leverage technology innovation,including proportional risk-based merchant validationprocesses.2. Maximizing the Impact of Financial Inclusion:Merchant-Centered Design and the Last Mile inChina”, Visa. 2018.This white paper presents the importance of the merchant-centered design as an approach to incentivizeelectronic payments acceptance among the smallest merchants and uses the last-mile challenges faced by Chinato illustrate the analysis.The paper defines three main challenges for the cornerstore: i) not having a bank account; ii) not seeing cash asa problem; and, iii) operating with thin margins and lowvalue transactions. The paper proposes merchant-centerdesign as the solution.Digital systems with the corner store in mind are simpler and cheaper. Thanks to technology and innovativeregulations, POS hardware has been simplified and madereadily accessible to merchants. The payment experience
has also been simplified through phone to phone pushpayment features, for example, through QR codes. Simplified KYC accounts and interoperability contribute toincreased accessibility and use.By linking the acceptance of digital payments to otherfinancial services, merchants can increase sales, exploitnew revenue streams (e.g. phone top-ups and bill pa) andaccess other financial services (e.g. credit).A huge incentive for merchants to go digital, is digitizing their ordering, purchasing and payment to suppliers. This also opens the opportunity for financial serviceproviders to offer complementary services such as operations and decision making based on data analytics.According to the paper, reaching the tipping point inthe market is key. Visa estimates small merchants morereadily take up digital payments when about 40 percentof their surrounding environment, or their top 3 to 4 suppliers are digital. To reach the tipping point, on top ofdigitizing mid-sized enterprises and those serving higherincome clients, Visa identifies the following actions: Removing barriers that make onboarding unnecessarily complicated and/or time consuming (e.g. throughcreation of payment aggregators); Creating a policy and regulatory environment that promotes electronic payment acceptance, through directincentives to merchants and customers, sound infrastructure and a framework that enables and encourages innovation; Supporting merchants in building their financial literacy and business skills.3. “ Supporting Payment Sector Development:B2B corporate payments requirements in thetraditional retail sector”, World Bank Group, 2016.According to the authors, focusing on retailers’ andwholesalers’ payments to their suppliers (B2B) providesa pragmatic way to use economic incentives to expandelectronic payment adoption. Suppliers to small and traditional retailers are often banked and interested in reducing their reliance on cash. Therefore, unlike P2B payments,in the case of B2B payments only one party needs to beincentivized and assisted in the transition away from cash.To encourage the adoption of electronic payments inthis market segment, the report outlines three requirements: i) Digital solutions should be as easy to use ascash, and should consider the potential mismatch withcash inflow, as well as digital versus paper monitoringbusiness practices; ii) Payment networks should beinteroperable at every stage of the process, includingpayment confirmation and account reconciliations; iii)Non-payment benefits need to be available for suppli-ers and retailers, for example deferred payment or creditterms for retailers.The report also highlights specific needs, behaviors andchallenges that traditional retailers display and encounterin relation to B2B payments. For this purpose, the reportclassifies retailers into a four stylized profiles matrix bysize and automation level.The authors analyze how business payments fit into thelarger purchase end-to-end process, and then parse outthe different steps involved in the payment itself focusingon the key aspects for buyer and seller. They concludethat to incentivize the use of electronic payments, thesemost include benefits in the form of firm- and sector-levelefficiency gains from automation and supply chain integration. Furthermore, the report notes that payment services need to be designed in a manner that supports theaims o
vant literature on incentives to expand electronic pay-ments acceptance (EPA) and some country examples where these incentives have been implemented. The goal is to identify the gaps in the literature to assist the FIGI Electronic Payments Acceptance Working Group (EPA
Airline Payments Airline Payments Handbook Thomas Helldorff Thomas Helldorff The Airline Payments Handbook : Understanding the Airline Payments World This book puts together "all there is to know about airline payments" into a single reference guide, helping you to answer some of the most prominent payments questions: How do payments work?
Same day electronic transfers - make same day electronic transfers for domestic transactions using Faster Payments. Future dated payments - create efficiency through control of your payments by setting them for the date they are due. Pre-fund your Sage Payments e-money account by Faster Payments, regular standing order or a one-off payment.
2009 states, incentives are the direct and indirect benefits offered to teachers as motivators. Incentives may be positive or negative; a negative incentive is referred to as a disincentive. Teacher incentives further can be classified in two forms: Monetary and Non-Monetary. Monetary incentives primarily include Salary, Cash Bonus, and Allowances.
3. Payments attributed to medical practitioners. 4. gouvernementauxCombined supplier & grant payments and payments through purchase cards, including payments made by all departments and some government organizations. 5. Supplier & grant payments, loan disbursements and payments through purchase cards for each department. 5.
Payments Innovation Summit is a unique platform for corporate practitioners to exchange practical solutions for optimizing your payments operations. Topics include: Global Payments Digital Currency Mobile Payments Innovating within the Current Payments Landscape
The Acceptance Criteria contained in HCIG-01 are intended to be used for final acceptance inspections and any later reinspect1ons of completed structural welds. Rhen approved by the Eng1neer, these Acceptance Criteria are also appl1cable to the reinspection of welds wh1ch have been previously inspected using HCIG-01 or other acceptance criteria.
"Acceptance Certificate" is the means of formal acceptance issued to the Contractor by the Customer on the successful completion of a User Acceptance Test. "Acceptance Procedures" means the terms and conditions applicable to accepting completion of the Requirements and Specifications and as set out in Schedule 8 (Acceptance Procedures)
mastery of it : writing . In a recent survey, academic staff at the University identified the interrelated skills of essay-writing and reasoning as the two most important skills for success in higher education; when asked which skills students most often lacked, essay-writing was again at the top of their list. Needless to say, writing ability is also highly prized by employers. The purpose of .
