E-Money Law and Legal Definition

E-money refers to money, a money substitute or scrip that is transformed into information stored on a computer or computer chip. This can be transferred over information systems such as the Internet. Therefore, this involves the use of computer networks, Internet and digital stored value systems. E-money can be exchanged only electronically. This is also termed as digital cash, electronic cash, electronic currency, electronic money, digital money, digital currency, Internet scrip, online scrip.