E-Money Directive
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The E-Money Directive or the electronic money directive (2009/110/EC, originally 2000/46/EC) regulates electronic payment systems in the European Union. The aim is to enable new and secure electronic money services and to foster effective competition between all market participants.
As per Article 2(2) of Directive 2009/110/EC, “e-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 transaction, and which is accepted by a natural or legal person other than the electronic money issuer”. Prepaid cards and electronic wallets are examples of electronic money.[1]
See also
References
External links
- Directive 2009/110/EC on the taking up, pursuit and prudential supervision of the business of electronic money institutions (given 16 September 2009)
- E-money - European Commission
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