Evolutionary Business Models of e-Cash with Smart Cards

Abstract

E-purse has been around quite a while, but not propagated widely. On the other hand, special purpose stored-value smart cards have been popular for killer applications like bus, subway, and pay phones. Another angle of e-cash is its possible use and recharge on the Internet. We wish an ideal e-cash system that can integrate both online and offline, applicable to a wide spectrum including the killer applications. So we analyze the framework of e-cash business models and place them into six categories. We evaluate the current business positions with this framework. Then we propose the strategies to find the best path for reaching the ideal business model. The e-cash business models are illustrated through the use of real world cases.