The role of using electronic payment cards in implementing financial inclusion

Article Sidebar

PDF
Published: Jun 30, 2025

THIS IS AN OPEN ACCESS ARTICLE UNDER THE CC BY LICENSE

http://creativecommons.org/licenses/by/4.0/

Keywords:
Financial inclusion, electronic payment cards, ATMs, point-of-sale devices, withdrawal devices, local retail financial transactions.,
Dimensions
DOI:10.25130/tjaes.21.70.2.21
Altmetric
DOI: 10.25130/tjaes.21.70.2.21
PlumX Metrics
DOI:10.25130/tjaes.21.70.2.21

Main Article Content

Mohammed H. Adnan
College of Administration and Economics/Anbar University
mohammed.h.adnan@uoanbar.edu.iq

DOI:https://doi.org/10.25130/tjaes.21.70.2.21

Abstract

There has been a growing interest in research on financial technology and its role in implementing financial inclusion. This study aims to look at electronic financial transaction tools, like electronic payment cards and the devices needed (ATM, POC, POS), that help people make electronic financial transactions locally to promote financial inclusion. The study employed a quantitative inferential approach, which involved the collection of quantitative data and the use of multiple regression analysis with EViews 10 to conduct a more accurate statistical test. We collected the study data from the Central Bank of Iraq's official website from the beginning of 2018 to the end of 2023. Annual data were processed and converted to monthly data to ensure balanced time series observations. We processed the data using the natural logarithm to prepare them for the multiple regression statistical test. The study concludes that the use of electronic payment cards is effective in implementing financial inclusion. It recommends studying the effectiveness of using automated teller machines (ATMs) and point-of-sale (POS) devices at a later date, as they did not achieve the desired results in this study.

Downloads

Download data is not yet available.

Article Details

How to Cite
Mohammed H. Adnan. (2025). The role of using electronic payment cards in implementing financial inclusion. Tikrit Journal of Administrative and Economic Sciences, 21(70, part 2), 400–414. https://doi.org/10.25130/tjaes.21.70.2.21
Issue
Vol. 21 No. 70, part 2 (2025): Vol.21, No.70, part 2, 2025
Section
Articles

References

Abdullah, D. S., & Hamad, M. J. (2023). Measuring and analyzing the impact of some financial inclusion variables on sustainable development in Iraq for the period 2004-2021. 19(64), 399–412.

Aigbe, P., & Akpojaro, J. (2014). Analysis of Security Issues in Electronic Payment Systems. International Journal of Computer Applications, 108(10), 10–14. https://doi.org/10.5120/18946-9993

Al-hujaimy, S. A., & Hussien, I. A. (2025). The role of banking digitization in developing the profitability of the Iraqi banking sector: International experiences with special reference to Iraq. 21(69), 120–134.

Alrabei, A. M., Al-Othman, L. N., Al-Dalabih, F. A. N., Taber, T. A., Ali, B. J. A., & Amareen, S. M. (2022). The Impact of Mobile Payment on the Financial Inclusion Rates. In Information Sciences Letters (Vol. 11, Issue 4, pp. 1033–1044). https://doi.org/10.18576/isl/110404

Bhutta, M. N. M., Bhattia, S., Alojail, M. A., Nisar, K., Cao, Y., Chaudhry, S. A., & Sun, Z. (2022). Towards Secure IoT-Based Payments by Extension of Payment Card Industry Data Security Standard (PCI DSS). Wireless Communications and Mobile Computing, 2022. https://doi.org/10.1155/2022/9942270

Chen, W., & Yuan, X. (2021). Financial inclusion in China: an overview. Frontiers of Business Research in China, 15(1). https://doi.org/10.1186/s11782-021-00098-6

Hamid, S., Ali, A., & Ali, M. A. (2023). Economic Analysis of The Electronic Payment System in Iraq: Study of Trends, Impacts and Opportunities for The Period (2018-2023) for Selected Companies (Asiahawala & Zaincash & Nasspay). 20(67), 109–134.

Hassan, G. J., & Faihan, M. A. (2024). The impact of some financial inclusion variables on green banking: an applied study on the Iraqi private banking sector. 20(67), 111–130.

Kabir, M. A., Saidin, S. Z., & Ahmi, A. (2017). Analysis of factors that influence electronic payment adoption. Journal of Engineering and Applied Sciences, 12(Specialissue3), 6560–6568. https://doi.org/10.3923/jeasci.2017.6560.6568

Le, T. H., Chuc, A. T., & Taghizadeh-Hesary, F. (2019). Financial inclusion and its impact on financial efficiency and sustainability: Empirical evidence from Asia. Borsa Istanbul Review, 19(4), 310–322. https://doi.org/10.1016/j.bir.2019.07.002

Mousa, H., & Maabreh, A. (2024). The Role of Financial Technology (Fintech) in Promoting Financial Inclusion A Literature Review. International Journal of Digital Accounting and Fintech Sustainability (IJDAFS), 1(1), 2024. https://ijdafs.com/

Mustapha, S. A. (2018). E-Payment technology effect on bank performance in emerging economies-evidence from Nigeria. Journal of Open Innovation: Technology, Market, and Complexity, 4(4). https://doi.org/10.3390/joitmc4040043

Noreen, M., Mia, M. S., Ghazali, Z., & Ahmed, F. (2022). Role of Government Policies to Fintech Adoption and Financial Inclusion: A Study in Pakistan. Universal Journal of Accounting and Finance, 10(1), 37–46. https://doi.org/10.13189/ujaf.2022.100105

Okello Candiya Bongomin, G., Ntayi, J. M., Munene, J. C., & Malinga, C. A. (2018). Mobile Money and Financial Inclusion in Sub-Saharan Africa: the Moderating Role of Social Networks. Journal of African Business, 19(3), 361–384. https://doi.org/10.1080/15228916.2017.1416214

Omar, M. A., & Inaba, K. (2020). Does financial inclusion reduce poverty and income inequality in developing countries? A panel data analysis. Journal of Economic Structures, 9(1). https://doi.org/10.1186/s40008-020-00214-4

Peterson K. Ozili. (2018). Impact Of Digital Finance On Financial Inclusion And Stability. Borsa Istanbul Review, 18(4).

Philippon, T. (2019). Nber Working Paper Series on Fintech and Financial Inclusion. In National Bureau of Economic Research. http://www.nber.org/papers/w26330

Salloum, S. A., Al-Emran, M., Khalaf, R., Habes, M., & Shaalan, K. (2019). An innovative study of e-payment systems adoption in higher education: Theoretical constructs and empirical analysis. International Journal of Interactive Mobile Technologies, 13(6), 68–83. https://doi.org/10.3991/ijim.v13i06.9875

Tay, L. Y., Tai, H. T., & Tan, G. S. (2022). Digital financial inclusion: A gateway to sustainable development. Heliyon, 8(6), e09766. https://doi.org/10.1016/j.heliyon.2022.e09766

Teoh, W. M. Y., Chong, S. C., Lin, B., & Chua, J. W. (2013). Factors affecting consumers’ perception of electronic payment: An empirical analysis. Internet Research, 23(4), 465–485. https://doi.org/10.1108/IntR-09-2012-0199

Van Dinh, D. (2024). Digital economy and the electronic payment behavior: An empirical analysis. Transnational Corporations Review, 16(4), 200078.

Xun, Z., Guanghua, W., Jiajia, Z., & Zongyue, H. (2020). Digital Economy, Financial Inclusion and Inclusive Growth. China Economist, 15(3), 92–105. http://finance.sina.com.cn/roll/2019-04-24/doc-ihvhiqax4733019.shtml.