IEEE Access (Jan 2023)

A Transition Transfer Mechanism in Payment Network

  • Haoran Zheng,
  • Yi Tang,
  • Jiashuo Zhang

DOI
https://doi.org/10.1109/ACCESS.2022.3227029
Journal volume & issue
Vol. 11
pp. 83983 – 83995

Abstract

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People’s economic activities constitute a payment network for money transfers. The existing studies on the transfer law of money in payment networks are relatively few and need to explain the money transfer mechanism in detail. To quantitatively describe the transfer law of funds in payment networks, this paper constructs a payment network energy model for in-depth study. To quantitatively describe the transfer distance, probability, and intensity of funds in the payment network nodes, this paper first constructs a model describing the transfer of funds in the payment network based on quantum financial algorithms and a transfer matrix describing the evolution of funds in it is constructed in the model. Then we compare the transfer of funds in the payment network and the quantum wandering of microscopic particles. The intensity of payment in the network and the quantum wandering on the microscopic network have similar properties. Finally, an empirical strategy is constructed with real data for empirical evidence, which supports the theory in the model of this paper. In terms of empirical evidence, we selected exchange rate data for 49 national foreign exchange markets from January 1, 2017, to August 1, 2022, considering that the exchange rate corresponds to a complex payment network behind the exchange rate. We construct a descriptive strategy for statistical funds leaping between nodes according to the model in this paper and empirically validate the data by a clustering algorithm. It is found that the leap distance and probability of funds in the payment network generally show a cardinal distribution with d.f. = 1, in which the intensity of funds transfer is a smooth asymptotic process from strong to weak, and some aggregation and non-uniform distribution phenomena are also found in it. This paper fully reveals the transfer mechanism of funds on the payment network, which is of some significance to understanding the payment law of economic activities.

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