Abstract

The means of payment presented here have integrated-circuit cards (or microprocessor cards) as physical support. These systems aim to replace cash, while facilitating the personalization of the services offered. In general, they constitute electronic purses on integrated-circuit cards (smart cards or memory cards) that can be used for neighborhood commerce. They contrast with virtual purses, which depend on programs installed in the client’s personal computer. Whatever the purse type, the electronic value expresses the quantity of fiduciary money that resides in a rechargeable memory. Recharging the electronic purse with monetary value requires the intervention of a financial institution.