E-money

E-money, or electronic money, is a digital form of currency stored electronically, allowing safe and convenient transactions without physical cash. It includes digital wallets, prepaid cards, and online accounts used for purchases, fund transfers, or bill payments. E-money is backed by a value that is stored electronically and recognized by institutions or networks, making transactions quick and secure. It simplifies financial exchanges, reduces the need for cash handling, and is widely used for online shopping, mobile payments, and peer-to-peer transfers. Essentially, it's a digital equivalent of cash, enabling seamless financial transactions in a digital environment.