electronic money

What is electronic money?

electronic money definition and meaning on Finance terms:
A monetary value, represented by a claim on the issuer, which is:1) stored on an electronic device (e. g. a card or computer);2) issued upon receipt of funds in an amount not less in value than the monetary value received; and3) accepted as a means of payment by undertakings other than the issuer. <


reference: https://www.ecb.europa.eu/home/glossary/html/index.en.html