Key Definitions for E-Money, E-Wallets, and Mobile Money

Financial services are being transformed. Fuelled by the proliferation of smartphones and connectivity globally.

We know that keeping up with this transformation can be confusing. So this is why we are sharing key definitions for some of the terms being used daily and in the right context.


Electronically stored, government-issued monetary value. For clarity Youtap, does not consider blockchain using cryptocurrencies as e-money. They are better defined as digital currencies and virtual currencies.


A location where monetary value is stored. (A location where digital monetary value is stored against a non-bank account number, often a phone number or email address).

Mobile Money:

Monetary value stored against a mobile phone number (versus a bank account or e-wallet). The GSMA also notes that payment services linked to traditional banking product or credit cards, such as Apple Pay and Google Wallet are not included.

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