Electronic money

[Peter Sommer]

On 02/12/2014 12:29, Francis Davey wrote:
> Am I right in thinking that these are either account based, or that
> the cards/phone take care of ensuring that double-payment does not
> take place?

Yes.   As far as I know  NFC transactions go through a regular credit
card account, at least mine do.

There is another thing you might like to look at.  The Seoul transport
system uses a Oyster-like card which can also be used for other
low-value transactions like coffee and snacks.   But as far as I know
the value is loaded from a bank account.

When I was at the LSE I kept track of these things, usually doing at
least one full lecture a year on the topic,  but I haven't really kept up.

Peter Sommer