Money: communicative functions of payment and price

Moor, Liz

doi:10.1080/10253866.2017.1359953

Cited by 7 publications

(7 citation statements)

References 24 publications

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“…As forms of money and payment evolve, it looks likely that they will face many of the same questions that can be traced throughout monetary history,—that is, “the tension between state or corporate power on the one hand, the autonomy and privacy of ordinary people on the other, and the tension between money’s power to generate collectivity and its power to divide and exclude.” (Moor, 2018, p. 580).…”

Section: Understanding “Everyday Finance” Through Cajavecinamentioning

confidence: 99%

“…The concept of “special money” aims to show communicative capabilities that are critically connected with communities and collectives. As Moor (2018) explains, this relates to the archaic relationship between the concepts: “communication” and “communion.” Moor (2018) also considers that currency and prices send messages.…”

Section: Understanding “Everyday Finance” Through Cajavecinamentioning

confidence: 99%

“…As Moor (2018) explains, this relates to the archaic relationship between the concepts: "communication" and "communion." Moor (2018) also considers that currency and prices send messages.…”

Section: The Sociology Of Everyday Financementioning

confidence: 99%

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Local Adaptation of Work Practices: The Case of BancoEstado’s “CajaVecina” Correspondent Banking System

2022

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This article contributes to the discussion of everyday domestic finance technologies by looking at CajaVecina, a correspondent banking network coordinated by BancoEstado, a leading Chilean financial institution. Differences in perceptions between actual users and designers of ICT for development projects (ICT2D) emerged from structured interviews with executives of financial intermediaries, customers, and shopkeepers. The extent to which independent merchants operating CajaVecina’s bespoke terminals confront and solve the “design-actuality gap” questioned whether the CajaVecina system enabled neighborhood retail stores to act as a de facto bank branch. Empirical results suggested that was not the case. Instead of following strict contractual behavior, participants in the correspondent banking network addressed a design gap through social interaction and leveraging relationships with repeat customers. This behavior builds on information emanating from what they called “operating quotas.” Operating quotas enabled BancoEstado to diversify risk, document financial services habits, and forecast the performance of merchants (particularly small, independent retail shops). Merchants used trends in operating quotas to tailor services offered through the CajaVecina terminal while aiming to increase the loyalty of trusted customers. These results further the understanding of correspondent banking services aiming to increase financial inclusion by providing evidence of a previously unexplored aspect of these networks, where social dimensions take precedence over economic, financial, and technological aspects.

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Section: Understanding “Everyday Finance” Through Cajavecinamentioning

confidence: 99%

Section: Understanding “Everyday Finance” Through Cajavecinamentioning

confidence: 99%

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Local Adaptation of Work Practices: The Case of BancoEstado’s “CajaVecina” Correspondent Banking System

2022

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“…This is at the core of the major shift toward a targeted, also so-called “personalized economy,” in which we see a re-personalization of prices: digitally, we pay a price according to our digital profile that is based on “individualizing and deindividualizing practices” (Moor and Lury, 2018: 502) of our individual and also relationally embedded choices. Analogously, such “individualizing and deindividualizing practices” of digital payments also contribute to a “re-personalization of money” (Moor, 2018). In the long run, new, rather opaque markets of optimization for persons and citizens may be developing, in which digital payments play an integral part.…”

Section: Payments: Infrastructures and Digital Datamentioning

confidence: 99%

Unlocking the payment experience: Future imaginaries in the case of digital payments

Mützel

2021

New Media & Society

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This article explores sociotechnical imaginaries of digital payments. Drawing on a decade of reports from industry consultants, the analysis of stories on digital payments identifies three sociotechnical imaginaries that shape the banking and payment industry: data monetization, the growth of digital payments, and the payment experience. The article argues that these imaginaries have contributed to the banking industry’s move toward becoming payment platforms, which restructure financial services based on a “re-personalization of money.” In effect, digital payments play a central part in the current economic transformation, led and promoted by global tech giants, that builds on the tracking, production, categorization, and classification of digital data. The article zooms in on recent and current expectations and imaginaries in the banking industry that, in the short run, shape economic decisions, while, in the long run, are set out to change how people interact, and how they are tracked, scored, and categorized.

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“…Money is an event, a narrative technology, an assemblage, a marketplace icon, a catalyst for desiring production but it is also a materialised fiction. Money is thus a means of communication but also has the capacity to ‘buy’ silence (Moor, 2018: 557). Although money is currency and has currency , the scope of this study is the type of currency prefixed by the word ‘crypto,’ which, as much of the literature insists (see Rotta and Paraná, 2022: 3–4) is not money at all.…”

Section: Introductionmentioning

confidence: 99%

Money is no object: Money, cryptocurrency, fiction

Haynes

2022

Marketing Theory

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Georg Simmel depicts money as an evolving entity that will continue to evolve to a state of ‘perfect money’ disconnected from any external guarantor of value. This article examines some of the different approaches to substantial value underpinning money, suggesting that they represent different types of fictional underwriting. Money is then contrasted with cryptocurrency, suggesting that their respective value is not only derived from different fictions but from different standards of value as major and minor currency. This analysis suggests that far from evolving into a fully abstract and functional instrument for creating stable social relationships, the divergence in currencies and currency fictions is a force for overturning such ‘expedient’ stability.

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Money: communicative functions of payment and price

Cited by 7 publications

References 24 publications

Local Adaptation of Work Practices: The Case of BancoEstado’s “CajaVecina” Correspondent Banking System

Local Adaptation of Work Practices: The Case of BancoEstado’s “CajaVecina” Correspondent Banking System

Unlocking the payment experience: Future imaginaries in the case of digital payments

Money is no object: Money, cryptocurrency, fiction

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