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Electronic Money and Payments: Recent Developments and Issues

Listed author(s):
  • Ben Fung
  • Miguel Molico
  • Gerald Stuber

The authors review recent developments in retail payments in Canada and elsewhere, with a focus on e-money products, and assess their potential public policy implications. In particular, they study how these developments will affect the demand for bank notes, and the central bank’s balance sheet and its seigniorage revenue, which as a result might affect the central bank’s ability to implement and conduct monetary policy and to promote financial stability. Other public policy issues, such as safety and efficiency, and user protection as well as legal, security and law enforcement, are also considered. While the demise of cash is not imminent, it is important for the central bank to continue to evaluate its potential roles with regard to e-money.

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File URL: http://www.bankofcanada.ca/wp-content/uploads/2014/04/dp2014-2.pdf
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Paper provided by Bank of Canada in its series Discussion Papers with number 14-2.

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Length: 37 pages
Date of creation: 2014
Handle: RePEc:bca:bocadp:14-2
Contact details of provider: Postal:
234 Wellington Street, Ottawa, Ontario, K1A 0G9, Canada

Phone: 613 782-8845
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Web page: http://www.bank-banque-canada.ca/

References listed on IDEAS
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  1. Joshua S. Gans & Hanna Halaburda, 2015. "Some Economics of Private Digital Currency," NBER Chapters,in: Economic Analysis of the Digital Economy, pages 257-276 National Bureau of Economic Research, Inc.
  2. Carlos Arango & Angelika Welte, 2012. "The Bank of Canada’s 2009 Methods-of-Payment Survey: Methodology and Key Results," Discussion Papers 12-6, Bank of Canada.
  3. Ben Fung & Kim Huynh & Leonard Sabetti, 2012. "The Impact of Retail Payment Innovations on Cash Usage," Staff Working Papers 12-14, Bank of Canada.
  4. Carlos Arango & Kim Huynh & Ben Fung & Gerald Stuber, 2012. "The Changing Landscape for Retail Payments in Canada and the Implications for the Demand for Cash," Bank of Canada Review, Bank of Canada, vol. 2012(Autumn), pages 31-40.
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