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Definitions Edit

Electronic money Edit

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 Edit

Payment is "[a] transfer of value."[2]

References Edit

  1. Report on Electronic Money, Annex 1, Glossary, at 40.
  2. Information Society IT Examination Handbook, Retail Payment Systems, App. B, Glossary.

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