Mobile Payments and Bitcoin: Concluding Reflections on the Digital Upheaval in Payments

  • Benjamin Geva
Part of the Palgrave Studies in Financial Services Technology book series (FST)


Mobile payments and bitcoins represent a leap forward in payments. Acknowledging that they are different, yet recognizing a common “digital” denominator, this concluding chapter outlines their salient features in the broad context of the historical evolution of payment mechanisms operated in the framework of a classical model. Thereunder, a payment order issued to a paymaster initiates the transmission of monetary value from a payer-debtor to a payee-creditor. The chapter points out that the mobile payment introduces complexities and variations reflecting its digital nature. At the same time, fundamentally, its operation is premised on that of the classical model. Conversely, not only that Bitcoin introduced new money-equivalent, it is further premised on a decentralized network within which monetary value moves without the involvement of a paymaster.


Mobile Device Smart Card Payment Card Mobile Network Operator Secure Domain 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


  1. Bollen, R. (2009). Recent developments in mobile banking and payments. JIBLR, 454, 154–469.Google Scholar
  2. Bossuyt, M. V., & Hove, L. V. (2007). Mobile payments models and their implications for NextGen MSPs. Journal of Policy, Regulation, and Strategy, 9(5), 31–43.Google Scholar
  3. Canadian NFC Mobile Payments Reference Model. (2012). CBA 14 May 2012.Google Scholar
  4. CPSS. (2012, May). Innovations in retail payments. Report of the Working Group on Innovations in Retail Payments. Basel: BIS.Google Scholar
  5. Dodd, N. (1994). The sociology of money: Economic, reason & contemporary society. New York: Continuum.Google Scholar
  6. Geva, B. (1989). The E.F.T. debit card. Canadian Business Law Journal, 15, 406–440.Google Scholar
  7. Geva, B. (1992). The law of electronic funds transfers (1st ed.). New York: Matthew Bender, Loose-Leaf.Google Scholar
  8. Geva, B. (2007). Recent international developments in the law of negotiable instruments and payment and settlement systems. Texas International Law Journal, 42, 685–726.Google Scholar
  9. Geva, B. (2011). The payment order of antiquity and the middle ages: A legal history. Oxford and Portland, Oregon: Hart.Google Scholar
  10. Hughes, S. J. (Ed.) (2013). RFIDs. Near-field communications, and mobile payments: A guide for lawyers. Chicago: ABA.Google Scholar
  11. James, J. S. (Ed.). (1977). Strouds judicial dictionary of words and phrases (Vol. 4, 5th ed.). London: Sweet & Maxwell.Google Scholar
  12. McGuinness, K. (1996). The law of guarantees (2nd ed.). Toronto: Carswell.Google Scholar
  13. Mugasha, A. (2003). The law of letters of credit and bank guarantees. Sydney: The Federation Press.Google Scholar
  14. Proctor, C. (Ed.) (2009). Goode on payment obligations in commercial and financial transactions (2nd ed.). London: Sweet & Maxwell.Google Scholar

Copyright information

© The Editor(s) (if applicable) and The Author(s) 2016

Authors and Affiliations

  • Benjamin Geva
    • 1
  1. 1.Osgoode Hall Law School,York UniversityToronto,OntarioCanada

Personalised recommendations