• September 29, 2021
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Conventional money – cash – is always the most common, convenient and protected means of payment. But in reality, what happens if you get robbed or lose your wallet or run out of cash in the middle of nowhere? Online financial providers such as eCREDO, have the solution.

Imagine being a tourist in a foreign country, far away from your homeland, with no personal connections to any residents whatsoever and suddenly by mistake or by chance you get robbed or you lose your wallet. The good thing is that there is a great possibility that you still have your laptop or tablet back at the hotel.

As an eCREDO customer, you can use any device with an internet connection to sign into your account, get the card instantly blocked, and report it as stolen. Through your account, you can also transfer any money from the lost/stolen card safely back into your IBAN, which immediately makes it available for use through SEPA and SWIFT transfers!

As soon as you report the card Lost or Stolen, a new card is immediately issued and sent to your registered address! No hassle, no phone calls, no interruptions! And if you want to be really carefree during your vacation, why not pre-pay your hotel directly from your IBAN using, yet again, eCREDO’s mobile or web app. So no stress, just concentrate into exploring the sights of the country you have always dreamt of visiting!

The stolen card is cancelled and another one can be ordered, all done within the user’s account! Money theft is avoided and a new card is on the way!

It is all good and fun until somebody forgets their wallet at home when out with friends for food and drinks. Well so what? By using the e2e service with eCREDO, a friend of yours can pay the bill and you can transfer the money for your part of the bill instantly through the mobile application. Also, for amounts of up to €50 there will not be any charges. However, this option is available only for eCREDO users.

Now let’s examine the scenario of you or a member of your family being a student abroad. You decide to do your grocery shopping and your card gets declined at the cashier for insufficient funds.

No need to stress, send a message to an eCREDO user, a friend or family member, to load the card with the amount needed to complete the purchase and the transaction will go through instantly. In a matter of seconds the card will be loaded and ready to use.

For people living and working abroad, away from their families, eCREDO’s Emerald Plan could be the perfect solution to have their family back home financially covered.

By registering for an Emerald account, you can get up to 4 Mastercards that can be instantly and independently loaded no matter where they are located and can be used globally.

Your loved ones will immediately have access to the transferred money. So once the desired amount is loaded, a member of the family can visit an ATM machine and cash out the money in the local currency and pay everything in cash, if that’s preferred.

They could also use the card for every purchase as the money loaded in the card can be directly converted into the local currency, something that is possible with all eCREDO cards & plans.

eCREDO’s Personal Plans really save the day and they do practically support loved ones.

How is the term electronic money defined?

The term electronic money describes any form of capital transfer between two or more parties done digitally and without any third party mediation.

Monetary independence is now seen as an expression of a claim rather than a description of a reality. The crucial element for electronic as well as for conventional money remains the element of expectation and promise for the value it represents.

These promises will become worthless as soon as we psychologically accept that electronic money works, that is, that the value it incorporates is widely accepted.

Beyond any technical approach, money is above all a product of human intellect and perception of value.  The visions for changes in the status, economic function and socio-political value of money do not concern abandonment and collapse but the completion of the existing monetary environment with more open systems, capable of supporting new perceptions of social and economic values, and responding to new human needs.

After all, the future is not our mythical destination, but the place we create through our choices. By researching the future of money, we discover a future in which adaptability will not even be a choice; it will be our daily routine.

Network-based Electronic Money Institutions (EMIs) are electronic money-based software systems presented as a program or network resource. They store the monetary value in a central accounting server, or it may be stored on an electronic carrier like a chip. This monetary value can then be used to make payments at other parties than the one that issued the electronic money.

These systems make extensive use of data encryption and electronic digital signatures. This type of calculation is widely used to pay for online merchandise, employee services remote work, or even online games.

 

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