E-payments: modern complement to traditional payment systems

Stefan Heng ()

Finance from EconWPA

Abstract: The challenges of payment transactions in electronic commerce were initially underestimated, as is now clear in the light of technological progress and stricter legislation, meaning traditional business models are increasingly coming up against their limits. Only secure, user- friendly and low-priced innovative payment solutions can boost internationally oriented e-commerce. In the medium term, mobile phone- based payment systems will be an even more valuable channel for e- business than internet-based systems. Nevertheless, in the longer term, upgraded traditional solutions (credit cards and, especially in Germany, debit cards and smart cards) are likely to push aside the innovative systems.

Keywords: ICT; IT; Payment Systems (search for similar items in EconPapers)
JEL-codes: E42 E51 G29 O14 O33 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-net
Date: 2004-07-28
Note: Type of Document - pdf; pages: 12

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Persistent link: http://EconPapers.repec.org/RePEc:wpa:wuwpfi:0407019

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