itlaw

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

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