The Electronic Purse
- Topics:
- Commercial Banking,
- Commercial Lending
- Tags:
- Authentication/Encryption,
- Digital Security,
- Finance,
- Operational Accounting,
- Payment,
- Purse,
- Security,
- Smart Card,
- Smart Cards
- Source:
- Bank of Canada
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Overview: One smart-card application of particular interest to central banks is the electronic purse or wallet, which carries a preloaded monetary value and can be used as a means of payment for multiple small-value purchases. This report provides an overview of current major electronic purse projects and other prepaid card applications around the world and examines selected policy issues. The report concludes that over the next few years, the use of smart-card technology for single-purpose prepaid cards and for debit and credit cards is likely to become more widespread in Canada. Electronic purses may take somewhat longer to come into general use, given that substantial changes will be required both in the payments habits of consumers and in the payments infrastructure of financial institutions and retailers.
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Format: HTML | Size: 133KB | Date: Jan 1996 | Pages: 74
