What Does 'Electronic Money' Mean?

Category: Glossary, Type: Other

The Meaing of Electronic Money

Electronic money is a bank money tool for making payments and collections. The amounts are often low to medium. The main instruments belonging to electronic money are the following: ATM, credit card, POS 'Point of Sale'. The transferring party 'seller' receives the quantity directly on bank details of their current account.

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Category: Glossary, Type: Other