1. The name "EC" originally comes from the unified European checking system Eurocheque
2. E-Cash means electronic cash. E-cash is not physically present it is logically present over the internet.
3. E-Cash can be used over the internet, electronic mail or personal computer to workstation in the form of protected payment of cash that is practically undetectable to user.
4. The electronic cash can work in the same way as electronic fund transfer made among the banks.
5. The user must have E-Cash software with him and an e-cash bank account from which electronic cash can be withdrawn or deposited.
6. The recipients of the electronic cash send the money to their corresponding bank account as like depositing real cash.
7 . Users can transfer funds, purchase stock,and offerna wide range of other services without requiring to carry physical cash, because of this users does not need to wait in queue which save times.
8. The transfer of funds can be immediately carried out by using debit cards and online bill payment.
9. Users will have high privacy while doing online shopping.
10. Use of debit cards by unauthorised person will lead to loss of many. Do privacy becomes critical issue.
11. An electronic card payment was generally made by the card owner entering their PIN (Personal Identification Number)
12. This type of currency may be used to buy physical goods and services, but may also be restricted to certain communities such as for use inside an online game.
