E-money and all the benefits it brings
POSTED ON: 13 Jul, 2018
Money started off as a better solution to the bartering system and took different forms throughout the ages. It comes with no surprise that current times and modern technologies digitalised financial services and required money to change again. Cash is losing its position as a number one payment method and is being quickly replaced by e-money.
Simply put, electronic money or e-money is money you exchange electronically. It is an actual electronic equivalent of cash. You can use it and conduct e-currency transactions over the internet, with cards linked to your account or using smartphones. It’s becoming more and more popular nowadays, enabling people to work from home, shop online, pay for services conveniently and promptly.
E-money has already brought lots of advantages and new opportunities for both individual users and businesses. It helps to send mass payments, payouts to remote workers or freelancers easily and hassle-free. People are using it to pay for goods or services, transfer funds to friends or relatives, pay for utility bills. The best part is that such transactions are carried out instantly so problems such as waiting in line or payments being late are no longer valid. Further, you can transfer funds electronically not during bank working hours and even on holiday.
E-money saves not only time but money as well. It’s reliable, fast and has low costs of transaction. It’s most probably the best choice when talking about international transactions as you don’t have to deal with the hassle of currency exchange at all.
Electronic money is also safer than cash. If you lose cash, it’s the end of the story, but in case of any issue with e-money you can always easily block your card or mobile wallet remotely. This is especially important while being abroad, when such situations can cause great inconvenience.
It’s also especially appreciated by those who like to keep track of their spending and have records of all the transactions done. You get all the necessary information about your spending habits and have access to it anytime anywhere.
So think no more and go digital. Forget about carrying cash, loads or cards and queuing for ATM withdrawals – try instant digital transactions and we promise you will never look back.