An electronic store of monetary value on a technical device that may be widely used as a prepaid bearer instrument for making payments to undertakings other than the issuer without necessarily involving bank accounts in the transactions. In order to be considered e-money, such devices must operate as general-purpose payment instruments. The ECB's statistics capture e-money that is issued by MFIs located within the euro area. In accordance with Regulation ECB/2001/13, as amended, the amount outstanding of e-money issued by euro area MFIs is included in the balance sheet under "overnight deposits".
Meaning of ELECTRONIC MONEY in English
European Central Bank English Glossary. Английский глоссарий Европейского Центрального Банка. 2012