Survey of develpments in electronic money and internet and mobile payments

Summary

The document discusses the rapid development and adoption of innovative payment products, including electronic money (e-money), internet/mobile payments, policy issues related to e-money etc. E-money products, which include stored value cards and electronic tokens, have seen interest but remain less popular compared to traditional payment methods. These products are designed for small-value transactions and come in two main forms: card-based and network/software-based. While card-based products are operational in many countries, network-based schemes are less common and still limited in use.

The document also covers the evolution of internet and mobile payments, driven by the growth of e-commerce and mobile phone usage. These payment methods are becoming increasingly important for retail payments. Internet payments are used in 67 countries, while mobile payments cater largely to micropayments and are operational or under consideration in several countries. Both payment methods involve various security measures and infrastructure. Statistical data on these innovations indicate that while usage is growing, it remains relatively low compared to traditional methods. The survey aims to track these developments and their market impact.