It features frequent customer transaction behaviors and mass information data related to all aspects of consumer behavior, such as gender, age, profession, education, assets, transaction times and types, and consumer preferences.
Accordingly, the process of marketization might not necessarily be associated with depersonalization or socially disembeddedness of market transaction behaviors; on the contrary, the social context in which transactions are embedded may promote market development.
We intend to leverage their strong understanding of financial transactions, user behavior and bleeding edge technology to make MobiKwik the most trusted way to pay in India," MobiKwik founder and CEO Bipin Preet Singh said in a statement.
The savviest of them invested heavily in building and leveraging closed loop data - data that understands the totality of our transactions and behaviors, throughout our lifecycle -- including user generated data from social activities like location check-ins.
People spend a bit less on every transaction, but the behavior is crazy and they shop more times".
Researchers like Dr. Castronova have already benefited by tracking the economic transactions and social behavior in online games.
Today, commercial organizations and governments are routinely using algorithms based on the big data collected from the daily digital transactions to predict behavior, mental state, and to categorize and profile people (Pasquale 2015).
The new application combines the ability to see an overview of your day-to-day transactions and spending behavior, with other tools to transfer money between accounts, automate your savings, and soon, pay bills and pay down your debt.
The study shows that the existence of feedback systems greatly improves the performance of online C2C auction markets: buyers are more willing to trade and gain more benefit from the transactions; sellers' honest behavior is encouraged, as honest sellers' gains are increased and dishonest sellers' gains are reduced.
