Moneo: A success or a failure?

Résumé du document

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.

Extraits

[...] It did not succeed in convincing consumers and shopkeepers. However, it is obvious that the process will be long, perhaps as long as the process to make consumers accept the credit card (it takes almost twenty years). The system is not totally in focus and there are a lot of small details to settle. I think that Moneo and all the ewallets of the European Union need to complement each other, in terms of costs and of working. On time of the European harmonisation, it is important to work together and to harmonise systems of payment. [...]

[...] One of consumers' worries is that thanks to Moneo, banks are more able to know their consuming habits whereas they are not able to know when consumers use cash. In fact, what consumers want is that Moneo is only a card, anonymous, free and independent from any bank account (as Moneo green card). In November 2002, the Confederation of Consumption, Housing and Living Environment (CLCV) asked the Conseil of Concurrence to examine the conditions in which competition is put to use in the Moneo management and merchandising. On September 18, the Conseil of Concurrence gave a notice. [...]

[...] There is another example of the technology craze in the payment field: in Asia, there are projects of electronic mobile wallets. In consumers' mobiles, a chip will be added. The mobile will be used as an electronic wallet, a transport card and a driving licence. The mobile will be able to exchange information with payment terminals. Moneo seems very obsolete compared with these new projects Moneo: a success or a failure? [...]

[...] Moneo: a success or a failure? Contents INTRODUCTION PART WHAT IS MONEO? DEFINITION OF ELECTRONIC WALLET WHAT ARE THE ADVANTAGES OF MONEO? WHERE CAN IT BE USED? PART II: ENCOURAGING FIRST RESULTS SOME FIGURES ONE OF THE MOST SUCCESSFUL EXPERIENCES IN THE WORLD PART III: . BUT THERE ARE A LOT OF CRITICS CRITICS FROM CONSUMERS CRITICS FROM SHOPKEEPERS CONCLUSION BIBLIOGRAPHY Moneo: a success or a failure? Introduction Introduction Moneo was one of the first three experiences of the electronic wallet (or e-wallet). [...]

[...] We can find several definitions for that concept. According to the Larousse Dictionary, is a software used to pay online-purchases thanks to a secret password”. There is a more precise definition which says: means of payment that uses electronic value, accommodated for small-sum purchases in local shops”. 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. [...]