electronic purse

English - English

Definition of electronic purse in English English dictionary

Smart card stored value program

Smart cards that contain electronic money as opposed to bank notes and coins (1996, Schlumberger)

A small portable device which contains electronic money It is sometimes called the electronic wallet or the stored value card (SVC)

This is a prepaid card intended for purchases of small amounts, generally under $20

A stored-value payment card that holds value which can be exchanged for goods and services It is an alternative to cash The card can be disposable or re-loadable, but in each case the card's stored value is reduced as payments are made Electronic purses do not form part of the Chip and PIN Programme

New, cashless electronic payment procedure which the German financial sector will be introducing under the designation 'Geldkarte' ['Moneycard'], after a local field trial from the end of 1996 The rechargeable electronic purse is installed in a microprocessor chip, which is integrated in the EC card or in another bank card In particular, the electronic purse is used for the cashless payment of smaller amounts at automatic cashpoints The electronic purse is recharged by using the PIN at cashpoints or other terminals, in principle by debiting the personal account

A specific type of smart-card A chip in the card provides multiple payment options such as debit, credit, and direct payment from a stored balance The electronic purse allows for transactions with different merchants in many locations [FRBC]

Hyphenation

e·lec·tro·nic purse

Turkish pronunciation

îlektränîk pırs

Pronunciation

/əˌlekˈtränək ˈpərs/ /ɪˌlɛkˈtrɑːnɪk ˈpɜrs/