The future of digital money

Speculates on the product of “digital money” from the perspectives of consumers, merchants and banks in ten years time. Predicts that convenience of access for consumers to electronic cash will mean that interactive television, PCs in the office and two‐slot mobile phones will all have become personal mobile cash dispensers for e‐cash. Argues that stakeholder analysis bears out the fact that digital money does have a future and sees a healthy competitive market of e‐cash contenders developing. Considers the opportunities and challenges presented by technology from a banker’s perspective and based on NatWest’s early experiences suggests that Mondex, with its global multi‐currency infrastructure, its transferable nature and support of banks in 60 countries is likely to become the market leader.