What is E-Money?
Electronic money (e–money) is broadly defined as an electronic store of monetary value on a technical device that may be widely used for making payments to entities other than the e–money issuer. The device acts as a prepaid bearer instrument which does not necessarily involve bank accounts in transactions.
Two types of E-Money?
There are two varieties of each type of e-money: online e-money and offline e-money. Online means you need to interact with bank to do a transaction with a third party. Offline means you can do a transaction without having to directly involve a bank.
Buying and selling
Pay money into your e–money account using a payment card. When you shop online the money is deducted from your balance
If you’re selling things, it’s added to your balance.Link your e–money account to your payment card.
E-COMMERCE 