Okuzeka
Finance & Banking vocabulary · Fintech & Digital Banking

E-money

Meaning in finance & banking, with examples

nounAdvanced term

In finance & banking, e-money means: Monetary value stored electronically, for example in a wallet app or on a prepaid card, issued in exchange for funds received and accepted as payment by others.

In Turkish: elektronik para, e-para

How it is used

Used in fintech and payments regulation. E-money institutions (EMIs) issue e-money and must safeguard customers' funds, but e-money is not a bank deposit, does not earn interest and is usually not covered by deposit insurance. In Türkiye, payment and e-money institutions are licensed and supervised by the central bank.

Example sentences

  1. The app holds your balance as e-money, not as a bank deposit.

  2. The fintech received an e-money licence, so it can now issue prepaid cards.

Common collocations

  • e-money institution
  • e-money licence
  • issue e-money
  • e-money account
  • digital walletAn app or online service that stores payment cards or money so that you can pay with a phone, watch or computer.
  • fintechShort for financial technology: technology that improves or automates financial services, and the companies that build such products.
  • deposit insuranceA public scheme that protects bank customers' deposits up to a set limit if their bank fails.
  • top upTo add money to a prepaid card, digital wallet, mobile phone or account so that its balance increases.
  • neobankA bank that works only through a mobile app and website, without physical branches, and often offers lower fees and fast account opening.

More terms: Fintech & Digital Banking

Practise with graded reading

Reading at the right level is the fastest way to make new words stick. Pick free English books by level:

This page explains English vocabulary for learners. It is not financial advice.