E-Payment Strategies of Bank Card Innovations

This paper is concerned with the business strategy in managing payment innovations. Particularly, the study looks at the smart card - electronic cash (e-cash) innovation in the financial service industry. The smart card e-cash has yet to overcome obstacles to its diffusion. Given the e-commerce opportunity, banks and non-banks compete to deploy smart card technology for Internet use. A review of previous payment innovations is also carried out to provide suggesting direction on the innovation proliferation. The paper firstly examines the payment market on the whole (the global review). The subsequent section discusses the challenges in the e-payment world and the strategies to support the diffusion of the smart card innovations.