Notice: This post is a sequel…Please read Chapter I if you haven’t…

A. WHAT IS E-MONEY?  A BRIEF DEFINITION 

E-Money features the following properties:

1. It’s a Claim to an issuer,  created with value not less than the funds received in exchange for the issuance.
2. It’s stored in an electronic medium.
3. It’s a means of payment for undertakings other than the issuer.

Electronic Money is in fact a genuine Payment System, comprising an issuer, purseholders/consumers, and a network of Merchants.

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