E-money, more flexibility for the owner, because it is paperless and can be transferred with the use of technologies like the Internet. It works by using a "public and private key" system, users can access their account using a PIN code. In general, the electronic money is also identified by the concepts of electronic money, digital cash, cash, electronic money or digital.
The history of electronic money, dating back to 1860 when the Western Union attributed the Electronic Fund Transfer (EFT). This marked the beginning of electronic money. 1918, a different brand is leaving in the history of electronic money, if the Federal Reserve Bank of America, transferring money by telegraph. As computer technology has evolved and was adapted by the banks, was a heavy dependence on computer technology to record the customer's data. Since then, many systems have been developed to have a detailed report on the financial situation of a person and credit. The availability of this information allows the management of electronic money, because the data easily accessible and maintained.
Electronic money will cash transaction faster, less anger generated by the transaction in cash. There must be a consensus on the bank and account holders in order to produce a successful transaction of e-money. At the end of 1990 were the best technologies to create electronic money. Examples are the electronic controls and smart card integrated. These funds are for the transfer of money.
During the 19th century were an important form of banknotes money. The Internet has enabled the purchase online. Since then, the e-money transactions more frequently. Possession of account-money allows the purchase of products on the Internet. Direct deposit and electronic transfers of funds changed the lifestyle of many credit and has received because of its convenience.
The history of electronic money is fairly new and has a long way to go. It 'too early to say whether this technology, the public interest to pursue and succeed, or do not rise to the expectations of the public. However, it is safe to say that electronic money will continue to produce changes in the banking and purchasing behavior of consumers to bring.
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Tags: electronic, History, Money