This paper documents the recent performance of European electronic purses. It presents data on 16 such schemes, and compares their penetration and usage rates. These rates are shown to differ substantially. A number of schemes are doing increasingly well and in all probability are here to stay....

Krivosheya (2020) finds that consumers’ use of financial innovations has a positive effect on the frequency with which they use a payment card at the point of sale. This comment argues that Krivosheya’s results are a case of ‘correlation does not imply causation’