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electronic cash (eCash)

Electronic cash (e-cash) is a cashless payment method that uses cash cards, store cards, credit cards or chip cards.

Depending on the card concept, the amount of money required for the service can be debited directly from the memory card, as in the case of the cash card, or from the user's account. In this case, a connection to the customer's account is established via the chip card.

Various money cards, photo:

Various money cards, photo:

The payment process with e-cash takes place via a card terminal at the point of sale( PoS). In the case of chip cards and credit cards, the user is authorized by entering his or her personal identification number( PIN), which is confirmed via the authorization center. In the case of cash cards, no authorization takes place; the amount to be paid is debited directly from the credit balance on the cash card.

Englisch: electronic cash - eCash
Updated at: 13.06.2012
#Words: 146
Links: method, chip, service, memory card, user
Translations: DE

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