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Federal Reserve Bank of Chicago
Economic Perspectives
Shopping without cash: the emergence of the e-purse
Carol L. Clark

This article finds that successful e-purse programs tend to have a captive audience that drives critical mass, such as those found in the transportation industry or government sector; an affordable cost structure relative to other payment instruments; compelling incentives for consumers and merchants; and technology that is well tested and addresses standards issues before rollout.

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Carol L. Clark, "Shopping without cash: the emergence of the e-purse" , Federal Reserve Bank of Chicago, Economic Perspectives, issue Q IV, pages 34-51, 2005.
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Keywords: Smart cards ; Cash flow
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