E-payments: modern complement to traditional payment systems

The challenges of payment transactions in electronic commerce were initially underestimated, as is now clear in the light of technological progress and stricter legislation, meaning traditional business models are increasingly coming up against their limits. Only secure, user- friendly and low-priced innovative payment solutions can boost internationally oriented e-commerce. In the medium term, mobile phone- based payment systems will be an even more valuable channel for e- business than internet-based systems. Nevertheless, in the longer term, upgraded traditional solutions (credit cards and, especially in Germany, debit cards and smart cards) are likely to push aside the innovative systems.