Opinion Article Open Access

The Digital Money Decade

Abstract

The tenth annual Digital Money Forum, held in London at the end of March, was a good opportunity to see how the world of retail electronic payments has evolved in last decade. It looks as if the technology platforms of smart cards, wireless communications, mobile phones and cryptography are coming together within a regulatory framework to make the often discussed “war on cash” something more than just talk. The prospect of simple, inexpensive payments across all retail channels — with the attendant benefits in trade and market growth — is real and it is already clear that a technology nexus around, in particular, the mobile handset and contactless payments is going to make real difference in the way that the average person pays.

David G.W. Birch

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