Central Banking

New e-cash system in France

Regulators following the development of e-commerce will be interested to learn that the revolutionary electronic cash system for small transactions that has been tried out in several French provinces since 1999 went live in Paris in November.

This is called the Moneo card. Holders who wish to use this to pay for goods or services insert the card in the payment terminal of the merchant, tap in the amount and the validity dates. They do not have to provide a secret code or password - the bank's

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