9th Symposium on
Finance, Banking, and Insurance
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Forrest H. Capie |
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Department of
Banking and Finance |
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This paper investigates the
views of electronic money (e-money) operators and
innovators on approaches to current issues surrounding
e-money. This has been achieved through a survey of major
e-money innovators and almost all current operators, as
at February 1999. Innovators and operators may shape the
future framework for e-money schemes. The aim of this
study was, therefore, to present their views in order to
stimulate further discussions and eliminate some of the
existing ambiguities with regard to potentials and
implications of e-money, especially with respect of
central bank money substitution. It seems that innovators
and operators are quite confident in the future of
e-money, despite the problems and obstacles surrounding
the current trials. |
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| KEY WORDS: Electronic Money, Financial Regulation, Central Banks, Financial Innovation: | |||