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Macroeconomics - E-Money
The idea of sending money via email has been only a dream for the past few years. Only recently has it come about. Now you can send money to people via the Internet in a variety of different ways and from a variety of different companies. The most successful e-cash provider to date has been PayPal. The company claims to do $10 million a day in transactions for more than 10,000 merchants, including the very successful eBay.
The way most e-money provider’s work is that you register for there service and provide them with your basic information such as name, address, and telephone number. You then must provide a way to fund your account, most of the time this is done either by a credit card or a bank account. You then only need an email address to send a person money. The money comes directly out of either you credit card or bank account. For a person to withdraw the money they receive it is usually done by doing an electronic funds transfer to a bank account. Most of the time this proc
Approximate Word count = 676
Approximate Pages = 3 (250 words per page double spaced)
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