Question:
(a) Describe briefly how electronic money works.
(b) Give two benefits of e-money to each of the following:
(i) consumers, and
(ii) business.
(c) Outline three main barriers that may slow the widespread acceptance of electronic money if they are not overcome.
(d) Give two reasons why e-money systems will attract money launderers in the future.
(e) Discuss the positive impacts of e-money and e-banking on banks, customers and merchants.
(f) Explain briefly what can be done to fight the improper use of e-money.