Premium
E‐MONEY AND PAYMENT SYSTEM RISKS
Author(s) -
McANDREWS JAMES J.
Publication year - 1999
Publication title -
contemporary economic policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.454
H-Index - 49
eISSN - 1465-7287
pISSN - 1074-3529
DOI - 10.1111/j.1465-7287.1999.tb00687.x
Subject(s) - payment system , payment , electronic money , business , actuarial science , economics , risk analysis (engineering) , finance
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)