money

Electronic Money

Electronic payment systems, already in place for use by credit-card processors, were adapted in the 1990s for use in electronic commerce (e-commerce) on the Internet. Such "digital cash" payments allow customers to pay for on-line orders using secure accounts established with specialized financial institutions; related technology is used for on-line payment of bills.

The Columbia Electronic Encyclopedia, 6th ed. Copyright © 2012, Columbia University Press. All rights reserved.

More on money Electronic Money from Fact Monster:

  • money: Electronic Money - Electronic Money Electronic payment systems, already in place for use by credit-card processors, ...

See more Encyclopedia articles on: Money, Banking, and Investment