This paper evaluates Azerbaijan’s 2003 Article IV Consultation, Second Review Under the Poverty Reduction and Growth Facility (PRGF), and Requests for Waivers of Performance Criteria, Extension of Arrangement and Rephasing of Purchases. Performance relative to the quantitative targets...

This Financial System Stability Assessment paper for Ukraine reviews financial sector issues and highlights macroeconomic developments, vulnerabilities, and soundness of the financial system. It discusses creditors' rights, insolvency, and corporate governance, and Anti-Money Laundering and...

What implications do 21st century monetary innovations bring for holdings of central bank money and standards of value? Emerging technologies such as cybercash, e-cash, and smart cards can be expected to reduce demand for central bank money, but the theoretical framework for monetary policy has...

An exploration of the issues that must be addressed if stored-value cards and other electronic money systems are to be major payment mechanisms in the global financial market.

The Internet has taken its place beside the telephone and television as an important part of people’s lives. Consumers use the Internet to shop, bank and invest online. Most consumers use credit or debit cards to pay for online purchases, but other payment methods, like “e-wallets,” are...

In September 2001, Malaysia has officially launched the world's first smart identity card, known as MyKad. The MyKad utilises the security enhanced 64K microprocessor chip and biometric technology, ensuring a high level of accuracy, enabling more than 27.73 million Malaysians to transact...

This report presents the evaluation of the first transit smart card demonstration in California. The study assesses the cost and benefit implications of the smart card system to transit agencies. Two types of smart cards were used: radio frequency (RF) proximity and contact. The assessment of...

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...