Understanding E-Money and Cash

Front

E-Money

Back

E-Money is a digital representation of fiat currency used for online transactions.

Front

List two advantages of using E-Money.

Back

1. Convenience for online transactions, 2. Enhanced security by reducing cash handling.

Front

Why is it unlikely that E-Money will completely replace cash?

Back

E-Money is unlikely to completely replace cash due to issues of accessibility, security, cultural preferences, and the need for anonymity.

Front

What are some barriers to accessing digital payment systems?

Back

Lack of internet connectivity, limited access to devices, low digital literacy, high fees, and security concerns.

Front

In what situations might cash still be preferred?

Back

Cash is preferred in situations with no electronic payment options, for small transactions, and for privacy.

Front

How does E-Money contribute to the speed of transactions?

Back

E-Money contributes to the speed of transactions by enabling instant digital transfers without the delays of traditional banking.

Front

What role do smartphones play in the use of E-Money?

Back

Smartphones enable convenient access and management of E-Money transactions.

Front

Can small businesses benefit from using E-Money? How?

Back

Yes, small businesses can benefit from using E-Money by improving cash flow, reducing transaction costs, and enhancing payment speed.

Front

Reason to choose cash over E-Money?

Back

Privacy and security concerns.

Front

Do you think E-Money will eventually dominate all transactions? Why or why not?

Back

No, E-Money will not completely dominate all transactions due to various limitations.