Evaluation of Electronic Payment Systems Using Fuzzy Multi-Criteria Decision Making Approach
Global competitiveness has recently become the
biggest concern of both manufacturing and service companies.
Electronic commerce, as a key technology enables the firms to reach
all the potential consumers from all over the world. In this study, we
have presented commonly used electronic payment systems, and then
we have shown the evaluation of these systems in respect to different
criteria. The payment systems which are included in this research are
the credit card, the virtual credit card, the electronic money, the
mobile payment, the credit transfer and the debit instruments. We
have realized a systematic comparison of these systems in respect to
three main criteria: Technical, economical and social. We have
conducted a fuzzy multi-criteria decision making procedure to deal
with the multi-attribute nature of the problem. The subjectiveness
and imprecision of the evaluation process are modeled using
triangular fuzzy numbers.
[1] O.E.G. Johnson, Payment systems monetary policy, and the role of the
central bank. International Monetary Fund, 1998, Washington, DC.
[2] World Bank, Financial systems and development. World Bank Policy
and Research Series No. 15, 1990, Washington, DC.
[3] T. Khiaonarong, "Electronic payment systems development in
Thailand", International Journal of Information Management, vol. 20
(1), 2000, pp. 59-72.
[4] H.C. Yu, K.H. Hsia and P.J. Kuob, "Electronic payment systems: an
analysis and comparison of types", Technology in Society, vol. 24 (3),
2002, pp. 331-347.
[5] C.H. Yeh, H. Deng and Y.H. Chang, "Fuzzy multicriteria analysis for
performance evaluation of bus companies", European Journal of
Operational Research, vol.126, 2000, pp. 459 - 473.
[6] M. Zeleny, Multiple Criteria Decision Making. McGraw-Hill, 1982,
New York.
[7] M. Zeleny, "Multiple criteria decision making: Eight concepts of
optimality", Human Systems Management, vol. 17 (2), pp. 97-107.
[8] L.A. Zadeh, "Outline of a new approach to the analysis of complex
system and decision process", IEEE Transactions on Systems Man and
Cybernetics, vol. 2, 1973, pp. 28-44.
[9] C.L Hwang and K.S. Yoon, Multiple Attribute Decision Making:
Methods and Applications, Springer, 1981, Berlin.
[1] O.E.G. Johnson, Payment systems monetary policy, and the role of the
central bank. International Monetary Fund, 1998, Washington, DC.
[2] World Bank, Financial systems and development. World Bank Policy
and Research Series No. 15, 1990, Washington, DC.
[3] T. Khiaonarong, "Electronic payment systems development in
Thailand", International Journal of Information Management, vol. 20
(1), 2000, pp. 59-72.
[4] H.C. Yu, K.H. Hsia and P.J. Kuob, "Electronic payment systems: an
analysis and comparison of types", Technology in Society, vol. 24 (3),
2002, pp. 331-347.
[5] C.H. Yeh, H. Deng and Y.H. Chang, "Fuzzy multicriteria analysis for
performance evaluation of bus companies", European Journal of
Operational Research, vol.126, 2000, pp. 459 - 473.
[6] M. Zeleny, Multiple Criteria Decision Making. McGraw-Hill, 1982,
New York.
[7] M. Zeleny, "Multiple criteria decision making: Eight concepts of
optimality", Human Systems Management, vol. 17 (2), pp. 97-107.
[8] L.A. Zadeh, "Outline of a new approach to the analysis of complex
system and decision process", IEEE Transactions on Systems Man and
Cybernetics, vol. 2, 1973, pp. 28-44.
[9] C.L Hwang and K.S. Yoon, Multiple Attribute Decision Making:
Methods and Applications, Springer, 1981, Berlin.
@article{"International Journal of Information, Control and Computer Sciences:55186", author = "Gülfem Alptekin and S. Emre Alptekin", title = "Evaluation of Electronic Payment Systems Using Fuzzy Multi-Criteria Decision Making Approach", abstract = "Global competitiveness has recently become the
biggest concern of both manufacturing and service companies.
Electronic commerce, as a key technology enables the firms to reach
all the potential consumers from all over the world. In this study, we
have presented commonly used electronic payment systems, and then
we have shown the evaluation of these systems in respect to different
criteria. The payment systems which are included in this research are
the credit card, the virtual credit card, the electronic money, the
mobile payment, the credit transfer and the debit instruments. We
have realized a systematic comparison of these systems in respect to
three main criteria: Technical, economical and social. We have
conducted a fuzzy multi-criteria decision making procedure to deal
with the multi-attribute nature of the problem. The subjectiveness
and imprecision of the evaluation process are modeled using
triangular fuzzy numbers.", keywords = "Electronic payment systems, fuzzy multi-criteriadecision making, analytical hierarchy process.", volume = "4", number = "10", pages = "1520-6", }