Data Science: Concern for Credit Card Scam with Artificial Intelligence

This article discusses the concept of a credit card as a means of payment in Islamic law. There are two main problems studied, namely (1) the conception of Shariah credit cards (alternatives) in Sharia Banking that can accommodate the needs of the community that are appropriate and do not conflict with Islamic Sharia; (2) the opinion of the scholars regarding the use of credit cards. The two problems were studied using a library approach by using books, magazines, journals and several other scientific works as primary sources. After conducting research, the authors found that Islamic credit cards can only be accessed for transactions on goods that have been determined with halal criteria. There are several opinions of scholars regarding the law on the use of credit cards related to the problems above. There are scholars who allow and there are also those who forbid based on their respective foundations. The MUI National Sharia Council stated that the use of sharia credit cards is allowed as long as it fulfills the provisions, and if it violates these provisions, the law will become illegal.

Having unlimited needs and wants, humans as economic beings will struggle to meet their needs. In this modern era, shopping for human needs and desires has become easier to do with the availability of various stores and malls to online retail. This ease of shopping has increased interest in shopping for unlimited material needs and indulges Indonesians to continue making purchases in order to develop uncontrolled compulsive buying behavior. Therefore the authors aim to examine the effect of materialism on compulsive buying mediated by the use of credit cards and impulsive buying. The object of this research is credit card users in Batam. Sampling was done by giving a google form questionnaire to credit card users in the city of Batam. Demographic data of respondents were then analyzed using IBM SPSS Statistics version 25.0 and analysis of the effect of independent variables on the dependent variable was carried out using Smart PLS version 3.2.8. The results of this study indicate that the variables of materialism, use of credit cards and impulsive buying have a significant effect on compulsive buying .

The use of credit cards for electronic commerce purposes has been on the increase in recent time. Credit card being the most acceptable and popular mode of payment, the number of fraud cases associated with it is also on the rise. As a result of the extensive nature of credit card transaction details, it is challenging to identify fraud in a credit card system in recent years, which implies that the identification of credit cards' fraud accurately, quickly, and effectively is a gray area of research. In this article, an automated template-based credit cards' fraud prediction (CCFP) model is developed using dynamic time warping (DTW) technique. This proposed CCFP technique is novel, as it has not been previously used to predict fraud in credit cards' systems. The performance of this proposed DTW-CCFP model is verified using the dataset that contains the credit card transactions of European cardholders. In addition, the performance of this proposed DTW-CCFP model is compared with three different machine learning (ML) prediction models: logistic regression (LR), decision tree (DT) and random forest (RF). The results were documented using two different performance metrics: sensitivity and false discovery rate (FDR). The proposed DTW-CCFP model outperforms the LR, DT and RF techniques. Of interest, the proposed DTW-CCFP model achieves this feat using a small portion (less than 5%) of the dataset to build the template in comparison to the LR, DT and RF techniques, which uses between 20%-30% of the dataset for training to achieve a fairly reasonable result

This study analyzed consumer public complaint behaviors and the satisfaction of complaint handling among credit card users who availed of credit card services. Relatively little research has been done in this area, despite the obvious importance of understanding and improving credit card market conditions. The purpose of this study was to examine consumer compliant behaviors with a focus on public actions, such as voice responses and the third party actions among credit card users. With the goal of providing consumers with more positive expectations of credit card companies' complaint handling process, this study investigated the status of public actions and the negative effect of complaints on the overall satisfaction of post-complaint behavior toward credit card services. The responses from 1,000 credit card users were analyzed using descriptive analysis, factor analysis, multi-logit analysis, and Heckman selection estimate. The analysis provided three major results: (1) perceived service quality among credit card users was conceptualized into groups such as responsiveness, innovation, company, additional service, and fee, (2) perceived service qualities, age, residential area, employment status, and subjective economic status had significant effect on public compliant action behaviors, and (3) unidimensional factors resulting from post-complaint behaviors were analyzed and several variables, such as period of credit card use, average amount used, and perceived service quality had significant effects on the degree of satisfaction associated with complaint handling in terms of credit card services. Several implications and directions for further research are discussed.

Discriminating the number of credit cards held by college students using credit and money attitudes

The enormous technological development witnessed in the world in the late twentieth century, especially in the field of computer and the internet, has led to the inclusion of credit card system into the market of civil and commercial transactions. In view of the modernity of this system and the multiplicity of relations and legal problems resulting from it, it was necessary for the legislator to intervene to regulate it, and this is what the legislator did in some countries, while the regulation of this system in many countries, including Iraq, subjects to the general provisions of the law and banking traditions that may no longer be able to accommodate the provisions of this multi-relationship system and the ramifications of the provisions. This study is an attempt to illuminate the way for the Iraqi legislator in his future efforts to legislate a law regulating the issuance and use of a credit card. The study includes examining a specific aspect of the various aspects of the credit card system, namely the contract between the issuing bank and the merchant. Specifically, this study examines the obligations of issuing bank of the credit card towards the merchant in the merchant's contract within the credit card system. This study is an attempt to illuminate the way for the Iraqi legislator in his future efforts to legislate a law regulating the issuance and use of a credit card. This includes examining the various aspects of the credit card system, namely the contract between the issuing bank and the merchant. Specifically, this study examines the bank's credit card obligations towards the merchant in the merchant's contract within the credit card system. This study has reached several results regarding the concept of the merchant's contract in the credit card system and its legal adaptation. The study concluded that adapting the merchant's contract as an indefinite contract of a special nature is the more accurate adaptation. The study also concluded that there are in merchant contract multiple obligations on the issuing bank of the credit card towards the merchant, some of them are direct obligations towards the merchant, and others are indirect obligations on the issuing bank of the credit card towards the merchant not in direct deal with the merchant, but in context of dealing of the issuing bank of the credit card with credit card holder. The direct obligations of the credit card issuing bank towards the merchant are obligation to provide the merchant with the means to deal with the credit card, obligation to the informing, and obligation to provide a secure and effective system for accepting and dealing with credit card. While the indirect obligations of the issuing bank of the credit card towards the merchant are obligation to issue the credit card in accordance with the agreement with the merchant and obligation to pay the bills of the credit card holder to the merchant. The study presented several suggestions in front of the Iraqi legislator about provisions regulating the obligations of issuing bank of the credit card obligations towards the merchant in the merchant's contract within the credit card system, and the Iraqi legislator can rely on them in the drafting of any special law to be legislated in the future in regulating the issuance and use of the credit card.

Purpose: This study discussed the factors that influence the use and debt of credit cardholders in Jakarta and surrounding areas (Jakarta, Bogor, Depok, Tangerang, Bekasi) Research methodology: The dependent variable used in this study is the use of credit cards and debts on credit cards. This study's independent variables were demographic factors, credit card feature factors, and attitude towards money factors. The sample of this study was 333 respondents using the purposive sampling technique. The data analysis model used is Ordinary Least Square (OLS). Results: The results showed that there were influences from demographic factors (age, income, family size), features on credit cards (credit limits), and attitudes towards money (the main payment method with credit cards, card tenure) on the use of credit cards; also, demographic factors (gender, type of work, level of education, income) and attitude towards money (minimum payment) on credit card debt. Therefore the factors that banks need to consider to increase their income, and the government for control of public expenditure, also the public to pay more attention to spending on their credit cards so that there is no accumulation of debt that cannot be paid. Limitations: This study has several limitations of specifically only examines the people who are in Jakarta and their surroundings (Jabodetabek) and examines demographic factors, features on credit cards, and attitudes. Contribution: This study will examine demographic factors, features on cards, and attitudes towards money by uniting variables per category into a unified category. The indicators in this study are adjusted to the community in Indonesia. Keywords: Attitude towards money, Credit cards, Credit card features, Demographics

Credit card use is ubiquitous. The credit cardholders’ behaviour of accumulating reward points and its effect is studied. The credit card users are categorised into government employees, private sector employees and the self-employed. The socio-economic factors like age, gender, education, marital status, family size, occupation, monthly income and number of credit cards owned affect the reward point accumulation behaviour of credit card holders. Frequency of credit card use has a positive effect on reward point accumulation but duration of credit card use does not affect reward point accumulation. The card transaction amount is more for the accumulators than the non-accumulators of reward points. Cardholders’ behaviour of accumulating reward points leads to increasing purchases, including conspicuous consumption and possibly leading them into a debt trap, if fail to make full payment of their credit card bill. The issuers of credit cards have a scope to widen their customer base by changing their marketing strategies so as to motivate the cardholders to accumulate reward points.

Over the past few decades, there has been a shift of people from using traditional payment methods to digital methods, thus creating innovation in the payment system. Nowadays, the market is determined to bring a different culture to Albania. The purpose of this study, which is based on the use of credit cards in the Albanian market, especially in Tirana, is to determine the attitude of society towards these credit cards. A questionnaire distributed among 100 consumers was used for primary data collection. This study contains both qualitative analysis and quantitative data analysis. The qualitative analysis addresses the ABC model of behavior, the use of credit cards, and the inflation problems caused by their use. The quantitative analysis highlights model statistics as well as the study of econometric analysis, based on the independent variables that are considered, such as monthly income level, security, prestige, and interest rate, which are thought to have a strong relationship with the use of credit cards as well as the expenses incurred during their use. Age, gender, monthly income, employment status, the reason for use, frequency of use per month, and duration of use are considered in the statistical model. Various tests have been developed to provide an accurate estimate of the relationship of variables using the SPSS Statistics program. All independent variables have exhibited a positive impact concerning the dependent variable. This paper aims to show the perceptions of people who use credit cards and those who hold a negative attitude about their use.

<strong>Abstract</strong> It is important to make payments contactless in order to comply with hygiene rules, especially when shopping under the new normal principles. It is expected that this will increase credit card use. Based on this, the aim of the study is to determine the demographic, economic and environmental factors affecting the use of credit cards. In this study, the data obtained from the Turkish Statistical Institute were used. Binary logistic regression and binary probit regression analyzes were used under discrete choice analysis to identify the factors affecting the household credit card use status. The analysis results showed that the factors such as gender, marital status, educational background, age, household size, employment status, income, expenditure, financial assets, saving, online shopping, and questionnaire year were effective on the credit card use attitudes of households. Determining the effects and effect sizes of these has contributed to explain the attitude of credit card use and has guided decision-makers and policymakers to transform the use of credit cards for contributing to the economy.

This article explores the sociality of digitised money transactions in the use of credit and debit cards in New Delhi. The article draws from insights in Science and Technology Studies (STS) and uses ethnographic practices to capture the complexity of digital money usage. The findings suggest that digital money and its required technological infrastructure do not operate as neutral interventions. Rather, credit cards and consumer behaviour are generated by and implicated in a range of cultural codes and practices, such as contexts for debt vulnerability and fraud. Courts, banks and the government currently appear to be behind the regulatory curve for managing these transactions which clearly seem to outpace the existing legal capacities in India. Significantly, it also emerges that credit card usage, consumer debt and digital frauds need to be grasped as linked phenomena. Money and technology, hence, I argue, operate in sociologically and politically charged contexts.

PurposeThis study aims to utilize the theory of planned behavior, integrating materialism, financial socialization, and perceived financial capability, to explore the psychological determinants influencing credit card repayment behaviors.Design/methodology/approachThe data for this research was sourced from the 2016 National Financial Well-Being Survey. Employing Structural Equation Modeling, this study investigated whether materialism, financial socialization, and perceived financial capability influenced credit card repayment behaviors through their impact on financial intention.FindingsThe analysis suggests significant associations between materialism, financial socialization, and perceived financial capability with credit card repayment behaviors. Furthermore, the results highlight the substantial mediating role of financial intention in shaping the relationship between materialism, financial socialization, perceived financial capability, and credit card repayment behaviors.Research limitations/implicationsEmploying Structural Equation Modeling, the study investigated whether materialism, financial socialization, and perceived financial capability indirectly influenced credit card repayment behaviors through their impact on financial intention.Practical implicationsThe findings of this study underscore the importance of considering credit card utilization and leverage used by average consumers. Supporting community-based financial education programs might be useful for reaching individuals and families at the grassroots level and educating participants about the deleterious effects of maintaining high credit card balances and the perils of pursuing their materialistic desires by leveraging these purchases through the utilization of credit cards. Credit card companies can use these findings to inform their marketing strategies and design credit products that cater to the needs of different segments of customers. From a policy standpoint, it is extremely important to develop programs that protect those individuals who are most vulnerable and need the most help with managing their money.Social implicationsPolicy makers can also use these findings to develop regulations and consumer protection measures to promote responsible credit card use. For instance, they can introduce laws that require credit card companies to disclose the full cost of credit, including interest rates, fees, and charges, in a clear and transparent manner. They can also promote financial education programs to help individuals with high levels of materialism manage their credit card usage and debt.Originality/valueThe paper integrates two well-established theoretical frameworks, the theory of planned behavior and materialism, to provide a comprehensive understanding of consumer credit card usage. This integration allows for a more nuanced analysis of the factors influencing credit card behavior. By utilizing data from the 2016 National Financial Well-Being Survey and employing Structural Equation Modeling (SEM), the paper conducts a robust empirical investigation. This adds credibility to the findings and allows for the testing of hypotheses derived from the theoretical frameworks. The findings of the paper have practical implications for policymakers, financial institutions, and consumer advocates.

Objective: The purpose of this study is to determine and examine the main factors that affect consumers' use of credit cards, with an emphasis on perceived convenience, ease of use, security, and special benefits. Methodology: We used a quantitative exploratory design and gave structured questionnaires to a stratified sample of 348 credit card users. We used a five-point Likert scale to measure the answers. Regression and structural equation modeling (SEM) were used to look at the relationships between the variables in the data analysis. The fit indices and factor analysis showed that the conceptual model was valid. Findings and Implications: The findings show that increased credit card use is substantially correlated with unique benefits and a strong sense of security. Convenience has a positive impact on user preference, while perceived ease of use is a crucial mediator between perceived usefulness and actual use. These results underline how crucial it is to create credit card services with an emphasis on security, rewards, and ease of use. By concentrating on these elements, financial institutions can increase user engagement and trust, which will ultimately promote more frequent and responsible usage.

Nowadays, in the digital era, the use of credit cards is widespread. People buy and sell goods from home. E-commerce brings a boom to the lifestyle of the people, for the working family, it is a preferable tool to purchase and pay through online mode in order to save the time and visiting hours. However, with the increasing use of credit cards, there have also been a lot of cases of credit card frauds that augmented much in the corona period. Fake credit card transactions significantly affect financial institutions, banks, and clients, whereas fraudsters try to develop new ways of committing fraud daily. To avoid credit card fraud and maintain the credibility of our clients, we need to build a model for credit card detection. There are the various machine learning tools that can be applied in detection of such frauds, these tools can be used to design an enhanced model to detect credit card frauds efficiently. In this view, the study presents a feature selection technique approach of machine learning with different classifiers. The study proposed an optimization algorithm using ‘Firefly’ for feature selection with four different classifiers: neural network, k-nearest neighbors, Support Vector Machine, and decision tree. The performance of all these four classifiers is compared on the basis of accuracy parameter.

This study investigates on the relationship between demographic factors and the usage of Islamic credit card as well as Conventional credit card demonstrates their interdependencies. The debatable issues as been addressed by many authorities not only in terms of the numbers of credit card flooding the nation’s economy, but the amount of transactions that end up with payment default and the numbers of credit card fraud as been recorded which threatened the economy should be seriously focused. Nevertheless the advances and changing habits in purchasing activities significantly contributed the diffusion of credit card as becoming more important and relevant in maintaining the purchasing activities. The study was conducted involving 305 respondents as a sample of study. While 26 items were used for addressing the research questions. Section A of the questionnaire seeks for information concerning the demographic profile of the respondents whilst section B and C that used Likert scale aimed to investigate information related to income and usage of credit card. The results of the study offer certain important managerial implications for the policy makers, finance institutions and the authorities bodies that take controls the credit card activities.