The Economist Announces the End of the Cash Era

The cover of the February 17-23, 2007 issue of the The Economist announces "the end of the cash era" with a cute graphic of dinosaurs made of coins and bills. In an editorial, the magazine acknowledges that the trend of electronic payments replacing cash transactions is unstoppable, but urges that payment systems be designed to preserve anonymity. A second article explores new technology for making payments by smart card and mobile phone. Interesting details on new products in Europe and Asia. The article focuses mostly on technology, but the last few paragraphs address the primary business issue -- who is going to control (and make money) from these transactions: banks, card associations, wireless companies. The editorial is available on-line but requires a subscription.

The article is available for free.