20-09-2017, 01:23 PM
An Internet-based system that allows you to transfer funds anonymously. Like credit cards, eCash was free for users, while vendors paid a fee. Due to security issues, eCash is still more of an idea and less of a real payment system. This money is stored on a card itself or on an account associated with the card. The most common examples are transit cards, meal plans and PAYPal. E-Cash can also mean any type of electronic payment. Electronic payment systems come in many forms, including virtualcheques, ATM cards, credit cards and stored value cards. The usual security features for these systems are privacy, authenticity and non-repudiation.