The Economist, May 5^th 2001, Finance and Economics, Dreams of a Cashless Society, 73-4.

1)      Explain the subtitle: “It remains a challenge to connect futuristic payment methods to a 14^th-century banking system”.

2)      What is the “Octopus stored-value card”?

3)      What is a cashless society : imagine the changes in everyday human behaviour : what are the advantages and the inconveniences according to you?

4)      How can mobiles be used : what is already possible in some countries?

5)      This text was written in 2001 : why do you think pressure for change is so slow?

6)      What can you buy on eBay?

7)      How does PayPal work? You may have to look up for documentation on their website).

8)      Update the figures of the percentages credit cards account for transactions  according to the relevant information you will find on the internet on the subject. Tell me why you choose to trust in the figures you give.

9)      Explain the mechanism of e -payment and its security by visiting Socgen site (Société Générale) or Mondex for instance (what are authentication, identification, and certification?)

10)  Do you agree with the conclusion of the text?

11)  What date do you suggest about the death of physical cash? Why?