E-Money Directive
The E-Money Directive or the electronic money directive regulates electronic payment systems in the European Union.
The aim is to enable new and secure electronic money services and to foster effective competition between all market participants.
As per Article 2 of Directive 2009/110/EC, “e-money” means “electronically, including magnetically, stored monetary value as represented by a claim on the issuer which is issued on receipt of funds for the purpose of making payment transaction, and which is accepted by a natural or legal person other than the electronic money issuer”. Prepaid cards and electronic wallets are examples of electronic money.
