Book review: ‘The value of transactions in the new data economy’

The value of transactions in the new data economy.
Carola Westermeier. Finance and Society, EarlyView (2020).

Along with tools for video-calls, cashless payment has been among one of the technologies that gained new momentum during the global pandemic. While paying with a credit or debit card has been an everyday practice for some time, mobile and contactless payments are increasingly welcome and used in many Western countries. However, most of these new payment technologies are not necessarily developed by banks, and more often stem from the so-called Big Tech companies (PayPal, Apple, Google, Amazon). The question of how money alters its meaning with the way that it is circulated lies at the heart of Lana Swartz’s book, ‘New Money: How Payment Became Social Media’.


(Westermeier, 2020: 1)