Payments and Currency: What does the future hold? Jeff Turcotte‚ Fitchburg State University‚ Fitchburg MA Jturcot1@student.fitchburgstate.edu Abstract More than 15% of Starbucks’ US revenue is processed through its mobile payment app‚ and with the release of Apple Pay in October 2014‚ and Google Wallet‚ which was launched back in 2011‚ payment methods are changing rapidly. Using near field communication (NFC) enabled devises‚ such as smart phones‚ fobs‚ bracelets‚ watches and other wearable’s
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Meaning of Bank It is generally said that the word “BANK” has been originated in Italy. In the middle of 12th century there was a great financial crisis in Italy due to war. To meet the war expenses‚ the government of that period imposed a forced subscribed loan on citizens of the country at the interest of 5% per annum. Such loans were known as Compara‚ Mintuo etc. The most common name was Monte. In Germany the word Monte was named as Bank or Banke. According to some writers‚ the word Bank has
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The Foreign Exchange Management Act (1999) or in short FEMA has been introduced as a replacement for earlier Foreign Exchange Regulation Act (FERA). FEMA became an act on the 1st day of June‚ 2000. FEMA was introduced because the FERA didn’t fit in with post-liberalisation policies. A significant change that the FEMA brought with it‚ was that it made all offenses regarding foreign exchange civil offenses‚ as opposed to criminal offenses as dictated by FERA. The main objective behind the Foreign
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Human Currency It is hard to imagine a society in which we would place a monetary value on human life. The practice of slavery in early American history was a disturbing example. Beginning in the early seventeenth century‚ the demand for labor became increasingly important as plantations in the South were on the rise. Slaves were considered a cheap form of labor and highly valuable. The output they provided far exceeded the input of resources. According to History.com‚ African-American slaves helped
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Hedging Currency Risks at AIFS The American Institute for Foreign Study (AIFS) is a foreign exchange program organization that provides 50‚000 students the opportunity to study abroad. AIFS serve American students traveling abroad to Europe‚ China‚ Mexico‚ and other locations. Therefore‚ AIFS receive cash inflows in dollars while they pay outflows in mostly Euros and British Pounds. The organization had $200 million in annual revenues. AIFS provides two main divisions: the College division primarily
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Foreign Trade Turkmenistan Table of Contents In the early 1990s‚ Turkmenistan’s foreign trade remained completely under the control of the central government. During that period‚ the most important trading partners remained the former republics of the Soviet Union‚ with which the great majority of trade had been conducted during the Soviet era. Natural gas is the most profitable item available for foreign sale. Trade Structure In controlling Turkmenistan’s trade sector‚ the main goal of government
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As the theoretical base of this study‚ this chapter explores the monitoring systems for trainings authored and popularized by Kaplan and Norton(Balanced Score)‚David Bushnell(IPO Approach) and Elwood Holton III (Learning Transfer System Inventory). In spite of the number of available taxonomies in monitoring the quality of trainings‚ only three of the most commonly used frameworks will be discussed and used as a guide in developing a monitoring system for trainings. This chapter also covers the
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Fong Yuen Ying (Fioni) EU’s unknown Asia - Does Asia need a single currency to lead the world? As the euro has contributed to the culture and economy of Europe‚ I would like to examine if Asia‚ particularly East Asia‚ could learn a lesson from the EU to create a single currency. In fact‚ small intra-regional exchange rate misalignment can interrupt trade and investment flows and potential trade frictions can occur among regional economies. It suggests that the need for intra-regional exchange
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| 2011 | | Monetary economics assignment | Pros and cons of commodity backed currency Submitted to: Prof: Abid Raza Submitted by: Group members Name roll # Adeel Obaid 64 Burhan Ali 24 Abid Daud 60 Pros and cons of commodity backed currency Pros: * Long-term price stability has been described as the great virtue of the commodity back standard. Under the commodity back standard‚ high levels of inflation are rare‚ and hyperinflation is nearly impossible as the money
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CHEM)‚MBA Specialization: Financial Management INDEX CHAPTER | PARTICULARS | PAGE | 1 | ABSTRACT | | 2 | EXECUTIVE SUMMARY | | 3 | THE EXISTENCE OF FIIS ON DEVELOPING ECONOMIES LIKE INDIA | | 4 | INSTITUTIONAL INVESTORS | | 5 | FOREIGN INSTITUTIONAL INVESTORS | | | SOURCES OF FII IN INDIA | | | SEBI REGISTRATION OF FII | | | WHY THERE IS A NEED OF FII | | 6 | ROLE OF FII IN CAPITAL MARKET | | | INTRODUCTION TO CAPITAL MARKET | | | DETERMINANTS OF FII | |
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