e-money

A Dictionary of Computing | 2004 | 438 words | Copyright

e-money (cybercash) Money that is exchanged through the Internet. In the early use of the Internet for commercial purposes there were concerns about fraud and security, and it was believed that users would be unwilling to buy items or services online. A number of schemes were introduced to set up a secure form of ‘Internet currency’. In the event these mostly came to nothing and most such transactions are by credit card.

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JOHN DAINTITH. "e-money." A Dictionary of Computing. 2004. Encyclopedia.com. 27 May. 2012 <http://www.encyclopedia.com>.

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