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eMoney transactions 'cost-effective and secure'
22 Feb 2010

Cashless eMoney transactions are an increasingly "cost-effective and secure" way to pay for low-value goods, it has been suggested. 

An Analyst from business research and consulting firm Frost and Sullivan has advised that countries such as Poland - which has deployed eMoney strategies on a large scale - have seen cashless payments prove particularly popular for high-frequency and low-value transactions, Business Intelligence Middle East reports. 

The Analyst added that as eMoney payment methods are increasingly proven to be a secure and economical choice, they are being embraced enthusiastically by consumers. 

In Poland, cashless payments are so popular that there is now a wide range of eMoney options available.

"There have been innovative banking products ranging from payWave products to NFC enabled payment stickers, to mobile payment for public transportation via SMS," said the Frost and Sullivan representative. 

A recent study by Retail Banking Research revealed that the increasing popularity of contactless smart card systems in the UK demonstrates that the country is taking a big step towards becoming a cashless society.