E-money

E-money, short for electronic money: electronically stored monetary assets, such as account or PrePaid balances. E-money can therefore be stored on bank servers but also, for example, on chip cards or smartphones. Attention: Cryptocurrencies such as Bitcoin do not constitute e-money within the meaning of the Payment Services Supervision Act (Zahlungsdiensteaufsichtsgesetz ZAG). More on the distinction between e-money and coupons can be found here.