The development of the era was followed by the development of the transaction payment system, namely the existence of Electronic Money. What's that? Is it true that transactions are faster, easier and safer?
What is Electronic Money?
The era is growing, so is the growing economic system. From the system of exchanging goods or bartering first, where if we need other goods, we have to exchange them with our possessions. Until the development of a money system that makes it easier to barter because of the value of money that represents it.
Now, as money develops, the money system that was originally in its current form with the existence of electronic money is made simpler. Why is it simple? Because with electronic money, we don't need to carry a lot of money with just a card, so we can shop for our needs.
What is Electronic Money? In short, Electronic Money is Money in Electronic form in this case namely Cards. So the card is used as a place to accommodate a nominal amount of money. The card can be used for economic transaction activities such as buying and selling, paying tolls and so on, the contents or the amount of money can be refilled like a cellphone which when the credit runs out, it can be refilled to be used again.
An ATM or Debit Card is actually a form of Electronic Money that quite a lot of people have, but sometimes some people use a Debit Card just to make it easier to take money, namely via ATM. Whereas with the card we can use it to pay for the goods we buy.
Credit Cards are an example of the application of Electronic Money too, but the difference is if the money in the Debit Card is already in our savings, if the Credit Card the money is paid monthly after we make the transaction. This also makes it easier for us in transactions too, with 1 card we can do many things without carrying a lot of money.
Electronic Money Prepaid Cards are the current trend, the system is almost the same as Debit Cards. However, this Prepaid Card does not require the owner to have an account number like a Debit Card. We simply buy this card at the merchant or issuing bank, then we already have it. To use it, of course, we need to fill in the value of money on the card, if it runs out it can be refilled like credit.
There are 2 types of this card, which are unregistered and registered, if the registered card owner's data is stored on the bank server, while the unregistered data is not stored on the server. The maximum value of money is also different in these 2 types of cards, if the registered one can be 5 million while the unregistered only 1 million. The choice of course is left to all of us on this type of card.
Accounts on cellphones/mobile phones are also a type of electronic money. The development of mobile phones is so large that banking has also developed types of accounts that can be registered with mobile phones without having to have a savings book and the usual ones. Finding the money is also easier with the help of the existing cellphone, of course.
The form of Electronic Money may develop again along with the times. This is because of the necessity of an era that requires a system that continues to develop, including the payment system.
Advantages of Electronic Money
Has 3 advantages or advantages, namely: Fast, Easy and Safe. It is said to be Fast because Electronic Money provides a fast process in transactions. We don't need to bother counting money in advance to be paid in the transaction, by just showing the card our transaction can be paid.
