Electronic money. The advantages and disadvantages

The concept of "electronic money" can be interpreted as a way to store and transfer of conventional money through electronic systems, or as a digital currency, which varies in size and is commercially sold as currency in a particular payment system. A European Commission describes electronic money, as “a digital equivalent of cash, stored on an electronic device or remotely at a server.” 1 It is important to understand that electronic money is not a generally accepted the means of payment, as they exist only within a particular payment system, usually bearing the same name as the electronic money system. But the payment system can operate not only electronic money they may make including conventional non-cash payments, or even operate cash. The handling of electronic money is done by the Internet, payment cards, electronic purses and devices working with debit and credit cards.