What is electronic cash example?
Digital cash, debit cards, and electronic cases are prepaid electronic tokens and electronic check and credit card are examples of postpaid electronic tokens. Credit and debit card systems. Card owners of credit cards or debit cards also can use their credit cards or debit cards to make the payments.
Which cash is also known as electronic cash?
eCash
What is eCash? In providing a simple definition of eCash, also known as electronic cash, it is a digital money product that provides a way to pay for products and services without resorting to paper or coin currency.
Which card is used in electronic cash payment?
E-wallet — A form of prepaid account that stores user’s financial data, like debit and credit card information to make an online transaction easier. Smart card — A plastic card with a microprocessor that can be loaded with funds to make transactions; also known as a chip card.
What is E Cash Card?
eCASH is a prepaid card that has been launched for use at government departments and hospitals to pay for government financial transactions. You can get an eCash card from any of the sites listed below and top-up it with the needed amount to enjoy a safe and quick way to pay all your expenses.
What do you mean by electronic 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.
Is E Cash and e-money same?
How this for a distinction: when you have an electronic payment instrument that you can use to pay a merchant, then that’s “e-money”, but when you have an electronic payment instrument that can be used to pay another person, then that’s “e-cash”.
What is eCash or digital cash?
Digital cash is a system of purchasing cash credits in relatively small amounts, storing the credits in your computer, and then spending them when making electronic purchases over the Internet. There are several commercial approaches to digital cash on the Web. Among these are eCash from DigiCash and Cybercash.
What is eCash Card?
What do you mean by electronic payment?
E-payments are electronic payments for transactions made on the Internet. More and more people are turning to electronic payment – or e-payment – as an alternative to sending checks through the mail. E-payments can be made direct using a credit or debit card or via a secure global acquirer such as PayPal.
What do you mean by electronic transaction?
An electronic transaction is the sale or purchase of goods or services, whether between businesses, households, individuals, governments, and other public or private organisations, conducted over computer-mediated networks.
What is difference between eCash and e wallet?
According to the definition above, both e-money and e-wallet are purposes of payment activities. E-money serves as a payment instrument. Meanwhile, e-wallet is an electronic service that could keep the payment instruments as cards and e-money for payment purposes.