Definitions[]
Electronic money[]
Payment is
| “ | the payer's transfer of a monetary claim on a party acceptable to the payee. Typically, claims take the form of banknotes or deposit balances held at a credit institution or at a central bank.[1] | ” |
General[]
Payment is "[a] transfer of value."[2]
References[]
- ↑ Report on Electronic Money, Annex 1, Glossary, at 40.
- ↑ Information Society IT Examination Handbook, Retail Payment Systems, App. B, Glossary.