Electronic money institutions

Electronic money institutions’ business is the issuance of electronic money (e-money), which is admitted as means of payment by companies other than the e-money issuer.

Electronic money can be defined as monetary value as represented by a claim on the issuer, and which is: 

  • Stored electronically, such as on a card.
  • Issued on receipt of funds with a value no less than the monetary value issued.
  • Accepted as means of payment by companies other than the e-money issuer. . 

 

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