E-Money (Electronic Money)

What is Electronic Money?

Electronic money is money which exists in banking computer systems and is available for transactions through electronic systems. Its value is backed by fiat currency and it can be exchanged into physical form however its uses are often more convenient electronically.

E-Money Ecosystem Diagram

Country 1

Supplier

Country 2

Customer

Country 3

Emoney Issuer

Goods ➔ ⬅ Emoney

Emoney ↓

↑ Deposits

↑ Emoney

Deposits ↓