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This article examines the future of e‐money as a payment instrument and some of the microeconomic policy issues it will raise. The paper is in two parts. This first part focuses on the various forms which electronic money is likely to take in the future, and considers key technological and economic factors that will shape its evolution. Part 2, to be published in the next issue of foresight, examines some of the major regulatory and institutional issues that are likely to have a bearing on the adoption of e‐money, notably concerns related to the regulation of payment systems, security, privacy and consumer protection.

Dubai’s Electronic Transactions Law (“ETL”) is designed to stimulate E‐commerce in the emirate by improving the authenticity and integrity of electronic transactions. The ETL recognizes the legal validity of electronic documents and electronic signatures as acceptable substitutes for paper documents and ink signatures, respectively. Accordingly, electronic records may be used to comply with a statutory writing requirement, original document requirement and retention requirement, and an electronic signature attached to an electronic document may be used to comply with a statutory requirement for a paper‐and‐ink signature. If all parties are in agreement, a contract may be in electronic form and is just as legally enforceable as a written one. The ETL does not mandate Dubai’s governmental agencies to utilize electronic documents, but they may elect to do so. The ETL has created a compulsory system of licensing of Certification Authorities (“CA”). Their role is to ascertain the identity of a subscriber and to attest in an issued Certificate that the electronic signature used by that subscriber belongs to him. The ETL contains a list of computer crimes. The statute establishes a sound framework for E‐commerce, but it could be improved by adding consumer protections, more computer crimes, mandatory Egovernment, I.T. courts and long‐arm jurisdiction. The ETL’s exclusion of wills should be eliminated.

This is the second part of a two‐part paper on the future of electronic payments. Part 1, which was published in the last issue of this journal, examined the various electronic forms of payment that are likely to emerge in the future, and considered some of the main technological and economic factors that will shape this evolution. This second part focuses on major regulatory and institutional issues that will influence the wider acceptance of electronic payment.

Within a larger mandate of reviewing the key global trends concerning consumer protection in the electronic commerce (e-commerce) literature, this study aims to study the legal framework concerning e-commerce and consumer protection in the Sultanate of Oman and to analyse the current regulations concerning e-commerce and consumer protection.

This study followed the normative legal research approach and resorted to the desk research process to facilitate content analysis of literature containing consumer protection legislation and regulatory provisions in Oman in particular and the rest of the world in general.

The study reveals that consumer protection initiatives in Oman are well entrenched for offline transactions, but are relatively new and limited for e-commerce. In spite of the promulgation of consumer protection laws, electronic transaction law and cybercrime law, consumer protection measures for e-commerce in Oman do not address a large number of the global concerns necessary to build consumer confidence and trust in the online environment.

There is a dearth of information concerning Oman on this topic in the extant literature. The research also witnessed the lack of empirical data on the issue of consumer protection and e-commerce in Oman that offer a detailed database of consumer complaints and associated outcomes.

The mechanism of consumer protection in electronic transactions is not robust in many countries. Because of the lack of comprehensive and robust legislation, consumers remain vulnerable in the online contractual purchase process. Moving beyond the fragmented legislation, many countries are currently mulling an all-comprehensive e-commerce law, implications of this paper will help the policymakers in identifying the focus areas.

Consumer protection is a burning global issue in this era of consumerism. It is important to build consumer trust, transparency and integrity of transactions to reduce the risk and uncertainties of purchase.

Consumer protection studies conducted in the context of Oman, hitherto, deal more with data protection and dispute resolution mechanisms, and less with legal provisions, regulations and consumer confidence. The study shares newer insights based on a systematic review of legal and business databases. It is the first study of its kind in the context of Oman and the Middle East in general.

There is a substantial lack of the need for adopting interface between accounting systems of companies and banks in Vietnam. The purpose of this paper is to bring out the benefits and lacunas in the adoption of interface for companies as well identify the factors that possibly could be crucial in making the interface adoption a success or failure.

The study is set in the context of case analysis and has adopted a mixed method approach. In this study, a contrast between successful adopters of interface and non-adopters of interface is discussed to identify the motivating factors for interface as well as the factors which form the barriers for non-adopters.

By conducting a case study-based analysis for intensive data comparison of two companies as interface adopters and two as non-adopters in Vietnam, it is found that the success of the interface adoption is influenced by inter-related factors such as the manager characteristics, industrial environment, company characteristic and innovation characteristics. Particularly, the effectiveness of the interface can be well demonstrated by cost saving, manpower reduction, data consistency, accuracy, and speed of the process.

The impact on the banker is not analyzed. Furthermore, this research only focuses on the effects of interface on the electronic banking system and accounting modules in the form of electronic payment, while in reality, banks provide a variety of services which can also be explored by other researchers.

This is one of the first studies in the context of Vietnam. This study is highly relevant in the current context, given the significant growth in the number of industries and export markets in Vietnam.

In this paper we address research issues related to the economics of electronic, Internet‐based markets. First, what are the consumer cost‐based differences for traditional and electronic markets? Second, what revenue implications does increased electronic market utilization have for sellers and transaction intermediaries? Based on an empirical, survey‐based study of an electronic market in the sports trading card industry we find that prices, search costs, and sales taxes are lower in the electronic markets, while risk costs, distribution costs, and market costs are lower in traditional markets. We discuss the implications this has for seller, intermediary and government revenue sources.

There is an increasing shift toward cashless societies worldwide, with electronic payment networks at the forefront of facilitating this transition. The purpose of this research is to explore the critical role of domestic payment networks and to propose recommendations for the effective implementation of such networks.

This research paper uses a multiple-case study design, informed by global best practices in domestic payment systems. Using thematic and content analysis methodologies, this research rigorously analyzes secondary data sources to investigate the strategic importance of domestic payment networks to national economies and the motivations driving their developments.

This paper illuminates the role of domestic payment networks in advancing cost-effective transactions, enhancing financial inclusion and safeguarding national sovereignty. It highlights the growing trend among nations to prioritize the development of their own payment systems. The research further explores the strategic initiatives undertaken by governments to prefer domestic over multinational networks, thereby maintaining control over their financial systems and safeguarding economic interests. Additionally, the study addresses the challenges these networks face, providing a thorough analysis that serves as insight for policymakers and financial institutions aiming to develop and improve their domestic payment infrastructures amidst current and future challenges.

This study contributes to the existing literature on domestic payment networks by studying their significance within the global financial ecosystem, particularly highlighting their role in advancing financial inclusion and ensuring national financial sovereignty. This research paper uses competition state theory as a foundation for its arguments and provides policy and practical recommendations for policymakers and financial institutions. Through this synthesis, the research aims to facilitate the enhancement and strategic development of domestic payment infrastructures globally.

Suggests that the discussion of online payments, while ultimately being a key issue for the future Information SuperHighway, is as significant now as it ever will be. The explosive increase in the use of the Internet has seen the emergence of commercial services and pressures previously restricted to Compuserve and the like. Many predictions see this burgeoning electronic marketplace becoming a significant component of the world economy. However, this can only happen once two key problems have been addressed, namely, protecting property rights, and making payments. This has led to a frantic battle for payment mechanisms that can provide the new medium with the means of conducting transactions. Identifies the key commercial requirements that successful use of the Internet will impose on a payment mechanism. Identifies the different types of mechanisms that are proposed, on trial or in use on the Internet. Evaluates each of these mechanisms against the requirements to determine which (if any) are really suitable for electronic commerce.

This paper aims to examine the legal challenges to electronic banking and initiatives taken to address them in Tanzania. It is based on the results of a comparative analysis of policies and laws of other countries from which Tanzania can pick a leaf on how to deal with challenges brought by information and communication technology-induced innovations in the banking sector.

The study upon which this paper is based employed comparative analysis methods by analysing different policies and laws of Tanzania in line with attendant laws of other jurisdictions such as the USA, Malaysia, South Africa, Rwanda and Kenya and international instruments in a bid to establish the best practice pertaining to controlling and containing legal challenges brought by developments in electronic banking.

This paper confirms that, the prevailing laws guiding electronic banking in Tanzania do not adequately address the challenges the banks and customers face during electronic banking transactions. Thus, there is a need to amend the Tanzanian laws guiding this sector to put in place legislation capable of facilitating the development of electronic banking whilst addressing the associated challenges the users encounter.

This paper underscores the value of amending existing or enacting new laws in line with the development of technology/innovation to protect consumers in nascent electronic banking of the country. Moreover, it advocates for the development of innovation in banking sector should not be left to grow without amending/enacting laws that will promote its development and at the same time protect the users to avoid far-reaching and often unpleasant implications.