Moneo was one of the first three experiments with the electronic wallet (or e-wallet). In 1999, Modeus (in Ile de France), Mondex (in Strasbourg) and Moneo (in Tours) were launched in France by Société Européenne de Monnaie Electronique (SEME, which is made up of seven French banks -Crédit Agricole, BNP, Crédit Mutuel, Crédit Lyonnais, Banques Populaires, CIC and CCF).
What can explain the emergence of these new means of payment is the rise of information technologies and the dematerialization of the exchanges: virtual means of payment are slowing standing out within the international financial world.
After the test of Tours in 1999, there was a second stage which began in 2000, until 2003: the expansion of Moneo all around France. In 2000, Moneo was launched in Brittany and in 2001 – 2003, in the remaining regions.
Today, it is time to draw a first assessment: is Moneo a success or a failure? Of course, in a six-year period, it is a bit early to declare officially and definitely if Moneo has succeeded in conquering France. However, by basing on figures, on consumers' statements and on shopkeepers', it will lead us to some conclusions about the first results of Moneo in France.
[...] According to this notice, “l'utilisateur doit être libre de choisir son fournisseur Moneo et considère à cet égard, que l'existence de la carte Moneo verte ( ) est de nature à garantir ce libre choix puisqu'elle évite que le client soit captif de sa banque”. The Conseil of Concurrence advises in consequence the development of the Moneo green card. Critics from shopkeepers The main reason of discontent is the cost for shopkeepers: they have to pay dealing costs, from 0.2 to 0.9 euros. www.conseil-concurrence.fr According to the Conseil du Commerce de France (CCF) “E-wallet and Virtual-wallet” euros corresponds to a margin of 20% conference or 25% on a newspaper, a stamp or a On December cigarette packet. [...]
[...] Part II: Encouraging first results Some figures According to the official website of Moneo: -between 1999 and today, one million people were seduced by Moneo (one year after its release, there were 30,000 15,000 real users ; in 2002, there were 500,000) -at the end of millions of credit cards were compatible with Moneo -in 2000, only 800 shops were equipped for a Moneo payment; today, there are 100,000 -today cities accept the payment via Moneo for the pay and display machines : there are more than 4,000 machines which accepted Moneo in France -57 millions of payment via Moneo were recorded between 2000 and today -in 2002, in average, the sum paid by Moneo was around 4 euros. [...]
[...] Moneo does fall into this definition: it is the name of an electronic wallet system -in fact, a smart card, like a credit card or an independent card or directly linked with consumers' bank accounts -used in France. This card can be credited up to 30 euros via a terminal and it is used to make small-sum purchases. Moneo Blue and Moneo Green What are the advantages of Moneo? For consumers Moneo appears as a modern means of payment, useful to pay small sums quickly. [...]
[...] Moreover, shopkeepers do not have to be worry about counterfeit money anymore and they are sure to be paid (there is no risk of insufficient funds with a prepaid card). And, as consumers, there is less risk of attacks. Part I What is Moneo? Where can it be used? Moneo can be used in every shop which accepts a payment by Moneo. It goes from bakeries, tobacconist's shops, news stands, fast food restaurants to ticket machines, automatic check-outs and food or drink dispensers. [...]
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