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Electronic money is a payment which designed to serve all functions of cash in the cyberspace. The ultimate goal in this area could be derscribed as a cyber currency only effective in the cyberspace and convertable to other curenciees. E-money is a different concept in comparison to similar practices of banking such as chip money, electronic money or cyber money which are earned as we use the credit cards.
The features of E-money could be summarised as : Similar to cash, the identity of the owner should be anonymous; should be divisible as small pieces as rewuired; should be appropriate for off line payments.
The project aims to test some practical aspects of such payment system in various institutions through a software to be developed by a bank and technical university.
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