Electronic money is defined in the E-Money Directive (2000/46/EU) as monetary value stored on a chip card (pre-paid card or 'electronic purse') or on a computer memory (network or software money) and which is accepted as a means of payment by undertakings other than the issuer.

Mr President, the second point that I should like to bring to your attention is the proposals that are circulating to develop a passport with advanced electronic chips in which biometric data, including somebody’s past travelling history, can be stored.

Electronic money means a surrogate for coins and bank notes stored on an electronic device normally a chip card, electronic purse (for example the Proton system in Belgium) or a computer memory - which is accepted by undertakings other than the issuer for the purpose of making electronic payments of limited amounts.

1.3. Alongside software money are appearing less sophisticated payment instruments within the reach of the ordinary citizen, and even of those who have neither a computer nor the means or knowledge necessary to access the Internet or similar systems, whether closed or open: prepaid cards. Essentially, these are micro-processor cards which memorize sums previously paid to the issuer and from which are gradually 'downloaded` the necessary sums for small purchases; in practice, then, this is the electronic version of a purse containing small change and lower-denomination banknotes.

Examples might include the establishment of kiosks and access points in public areas, and the use of smart cards and electronic wallets.