Survival of the slickest

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Turning money and small-value payments into digital form doesn’t interest the banks – it’s against their interests and too expensive. Into the vacuum have stepped hundreds of payment schemes, many of them claiming they have found the Holy Grail. These boasts are premature. Some ideas are elegant but don’t have critical mass. Worse still, they rely on those indifferent beasts, the banks. Find your way through the Darwinian jungle with the help of David Shirreff