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....

These last few months the move toward the standardization of electronic purses has gained considerable momentum. Card issuers and newspapers present this move as crucial for cross-border transactions and especially urgent for the euro-zone. Starting from the network externalities theory, I argue...