Electronic Money

Electronic money is the money which exists solely in banking computers and is not held in any physical form. In america, only a tiny proportion of the foreign exchange in circulation prevails in physical variety. The need with regard to physical currency offers declined as an increasing number of citizens use electronic digital alternatives to bodily currency. Electronic money would be the money balance recorded electronically over a stored-value card. These cards have microprocessors embedded and this can be loaded with a monetary value.