electronic money
electronic money
Section titled “electronic money”| Defined term | electronic money |
| Source | EMD2 |
| Reference | Article 2, point (2) |
| Status | Published |
| Refresh rule | Regenerate after source legal-text changes |
Definition
Section titled “Definition”(2) ‘electronic money’ means electronically, including magnetically, stored monetary value as represented by a claim on the issuer which is issued on receipt of funds for the purpose of making payment transactions as defined in point 5 of Article 4 of Directive 2007/64/EC, and which is accepted by a natural or legal person other than the electronic money issuer;