• Electronic Cash

Electronic cash is known variously as electronic money or digital cash. The term refers to money that is exchanged from one person to another only through electronic means. Transactions that involve electronic cash typically use computer networks, the Internet, and digital stored value systems. Examples of this type of currency are electronic funds transfer and direct deposit.

Electronic Funds Transfer

Digital cash offers many benefits to its users such as convenience and privacy, the increased efficiency of transactions, lower transaction fees, and new business opportunities due to the emergence of economic activities on the Internet. Developments in electronic cash are mainly directed to making it usable through a range of hardware like secured credit cards, and linked bank accounts.