Reengineering money: The mondex stored value card and beyond

Eric K. Clemons, David C. Croson, Bruce W. Weber

Research output: Contribution to journalArticlepeer-review

28 Scopus citations


Electronic cash systems seek to reengineer cash payments. While the use of cash imposes numerous invisible costs on the economy, many security and consumer acceptance issues prevent its immediate replacement. We begin by analyzing the economics of the proposed Mondex electronic cash system, suggesting possible benefits that may be realized by various channel members whose cooperation will be essential to any successful implementation of electronic cash. We conclude that the major challenges to the global implementation of electronic currency will be establishing the proper incentives for channel members, overcoming regulatory barriers, and gaining a critical mass of consumer and merchant acceptance, rather than difficulties with technology or network security. We identify several areas for directed future research on the economic implications of electronic payment.

Original languageEnglish (US)
Pages (from-to)5-31
Number of pages27
JournalInternational Journal of Electronic Commerce
Issue number2
StatePublished - 1996
Externally publishedYes

Bibliographical note

Copyright 2017 Elsevier B.V., All rights reserved.


  • E-cash
  • Economics
  • Electronic cash
  • Mondex
  • Money
  • Pricing
  • Reengineering
  • Regulation
  • Strategy


Dive into the research topics of 'Reengineering money: The mondex stored value card and beyond'. Together they form a unique fingerprint.

Cite this