E-money

Electronic money is an electronic surrogate of cash (coins and banknotes) which is stored on an electronic device. It enables cashless payments of smaller amounts in diverse environments such as points of sale or through mobile or internet communication.

Legislation

• Directive 2009/110/EC of the European Parliament and of the Council of 16 September 2009
  on the taking up, pursuit and prudential supervision of the business of electronic money institutions
  amending Directives 2005/60/EC and 2006/48/EC and repealing Directive 2000/46/EC
• Repealed: Directive 2000/46/EC of the European Parliament and of the Council of 18 September 2000
  on the taking up, pursuit of and prudential supervision of the business of electronic money institutions
• Directive 2000/28/EC of the European Parliament and of the Council of 18 September 2000
  amending Directive 2000/12/EC relating to the taking up and pursuit of the business of credit institutions
• Commission Recommendation 97/489/EC of 30 July 1997
  concerning transactions by electronic payment instruments and in particular the relationship between issuer and holder

Developments

16.9.2009	Directive 2009/110/EC on the taking up, pursuit and prudential supervision of the business of electronic money institutions
24.4.2009	European Commission welcomes the European Parliament's adoption of two proposals in the area of payments (on e‑money and cross-border payments), IP/09/637
13.10.2008	Commission adoption of a proposal for a Directive on the taking up, pursuit and prudential supervision of the business of electronic money institutions, amending Directives 2005/60/EC and 2006/48/EC and repealing Directive 2000/46/EC Text of the proposal, COM(2008)627 Summary of the Impact Assessment, SEC(2008)2572 Impact Assessment, SEC(2008)2573 Press release, IP/08/1491 FAQ, MEMO/08/616
19.7.2006	Commission Staff working document, SEC(2006)1049, on the Review of the E-Money Directive 2000/46/EC
17.2.2006	Final report of the study on the Evaluation of the E-Money Directive 2000/46/EC
6.2.2006	Review of the E-Money Directive 2000/46/EC Contributions to the consultative document authorised for publication
14.7.2005	Consultation paper on the E-Money Directive 2000/46/EC Press Release IP/05/930 Comments received
18.1.2005	Application of the E-Money Directive 2000/46/EC to mobile operators Summary Guidance note Contributions to the consultative document authorised for publication List of contributors
10.5.2004	A consultation paper on the treatment of mobile operators under the E-money Directive 2000/46/EC Press release IP/04/620
17.4.2001	Study on the implementation of Recommendation 97/489/EC
9.10.2000	Commission Staff working document: Payment by e-purse over the internet, MARKT/174/2000
29.7.1998	Press release: Commission proposes clear regulatory framework, IP/98/727