E-Cash

Glossary

E-Cash

A trial form of electronic funds transfer over the Internet (and soon by email). The e-cash software stores digital money, signed by a bank, on the user's local computer. The user can spend the digital money at any shop accepting e-cash, without the trouble of having to open an account there first, or having to transmit credit card numbers. The shop just has to accept the money, and deposit it at the bank. The security is provided by a public key digital signature.