Page 121 - Key to Social Studies 4
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What Is Electronic Money or Digital Money?
With the widespread use of technology and
computers, people started to pay money
electronically. No physical cash is exchanged.
Electronic money is moved from one bank
account to another.
The technique of trade and exchange as
people pay their bills and buy items and goods
online through computers and the internet has
changed the way we shop and the way we use
banks.
What Are Some Examples of Electronic Money?
Online payments can be processed through
websites like bitcoin and PayPal, or by using a
credit card. A credit card is issued by a bank
to allow a payment to a person or company
without using physical money.
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