According to Mikhailov, smart cards will reduce fraud in non-cash payments of private individuals, because they have a more reliable protection than ordinary cards. Mikhailov adds that using smart cards will cut state expenditures for issuing and servicing cash (banknotes and coins).
According to Mikhailov, smart cards will
- Is the pursuit of a common accounting standard for monetary gold a fool’s errand?
- European Court of Justice overrules ECB on French banks’ leverage
- Malaysian central bank reshuffles senior staff
- FSB launches crypto asset monitoring framework
- Communication strategies too weak to ‘pierce veil of inattention’ – research