Definitions for "Electronic Purse"
A small portable device which contains electronic money. It is sometimes called the electronic wallet or the stored value card (SVC)
A stored-value payment card that holds value which can be exchanged for goods and services. It is an alternative to cash. The card can be disposable or re-loadable, but in each case the card's stored value is reduced as payments are made. Electronic purses do not form part of the Chip and PIN Programme.
A stored-value card that can be used to make purchases from more than one vendor.