E‐MONEY AND PAYMENT SYSTEM RISKS

James McAndrews

Contemporary Economic Policy, 1999, vol. 17, issue 3, 348-357

Abstract: The rapid development of new electronic systems of payment, or e‐money, offers society many potential benefits even as it poses new types of risk for system operators. The risks to which e‐money is most subject–operational, fraud, and legal risk–pose new challenges to payment system risk control. A review of instances of failures in similar systems suggests some useful lessons for the successful development of e‐money. (JEL E42, G2)

Date: 1999
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