Electronic currency (known as E-money, electronic cash, digital money, digital cash or digital currency) means that money which is exchanged only electronically or transacted online. You can send and receive money from someone and make online payments 24 hours a day from anywhere. Electronic currency usually involves use of computer networks, the internet and digital stored value systems. Examples of electronic money are Electronic Funds Transfer (EFT) and direct deposit.
Electronic currency gives a lot of benefits to users. Users have free account sign up and real time online payments. It just needs one click to send the mass payments. In addition, it has the lower merchant fees than credit cards. Electronic currency can use as universal media of exchange. Users can enter the transaction around the world without paying any exchange fees once a user acquires a global electronic currency. Besides that, global electronic currencies will provide global units of account to help the buyers and sellers understand what products and services are worth without calculation.
Here are the major electronic currencies on the net ：
（1） PayPal
PayPal is a popular Web-based payment method that allowing payments and money transfers to be made through the Internet It is the safer, easier way to pay and get paid online . The service is convenient to users because it allows anyone to pay in any way they prefer, including through credit cards, bank accounts, buyer credit or account balances .In addition, PayPal performs payment processing for online vendors, auction sites, and other commercial users which it charges a fee. In 2002, PayPal was acquired by eBay .
(2) Web Money
WM Transfer Ltd company is owner and administrator of WebMoney Transfer
payment system WebMoney Transfer system based in 1998 and is a legal corporate entity of Belize, Central America At first,this WebMoney Transfer system targeted mainly at Russian clients, it is now used world-wide. Webmoney system is very easy and convenient to use. Just a single mouse click with private ,payments are made instantly with, encrypted certificate for accessing account.
(3) E-gold
E-gold is an electronic currency, operated by Gold & Silver Reserve Inc . It is a payment service similar to Pay Pal, however there has a few significant differences. For example, it is based on gold. When you open an Egold account, you are actually buying a quantity of gold .Besides that, there is a minimum amount which must be purchased. The advantages of E-gold are low transaction fees, zero financial risk, fast, flexible, convenient.
By Hooi Shang
Electronic currency gives a lot of benefits to users. Users have free account sign up and real time online payments. It just needs one click to send the mass payments. In addition, it has the lower merchant fees than credit cards. Electronic currency can use as universal media of exchange. Users can enter the transaction around the world without paying any exchange fees once a user acquires a global electronic currency. Besides that, global electronic currencies will provide global units of account to help the buyers and sellers understand what products and services are worth without calculation.
Here are the major electronic currencies on the net ：
（1） PayPal
PayPal is a popular Web-based payment method that allowing payments and money transfers to be made through the Internet It is the safer, easier way to pay and get paid online . The service is convenient to users because it allows anyone to pay in any way they prefer, including through credit cards, bank accounts, buyer credit or account balances .In addition, PayPal performs payment processing for online vendors, auction sites, and other commercial users which it charges a fee. In 2002, PayPal was acquired by eBay .(2) Web Money
WM Transfer Ltd company is owner and administrator of WebMoney Transferpayment system WebMoney Transfer system based in 1998 and is a legal corporate entity of Belize, Central America At first,this WebMoney Transfer system targeted mainly at Russian clients, it is now used world-wide. Webmoney system is very easy and convenient to use. Just a single mouse click with private ,payments are made instantly with, encrypted certificate for accessing account.
(3) E-gold
E-gold is an electronic currency, operated by Gold & Silver Reserve Inc . It is a payment service similar to Pay Pal, however there has a few significant differences. For example, it is based on gold. When you open an Egold account, you are actually buying a quantity of gold .Besides that, there is a minimum amount which must be purchased. The advantages of E-gold are low transaction fees, zero financial risk, fast, flexible, convenient.By Hooi Shang
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