What is E-Money?

Electronic money (e-money) is a payment instrument that contains monetary value that is paid in advance by the user to the e-money issuer. The user of e-money can make payments for purchases of goods and services to merchants who accept the e-money as payment. E-money can be issued in different forms, such as card-based (e.g. prepaid card) and network-based e-money which may be accessed through the internet, mobile phones or other devices.

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Roles and Responsibility of Trustee


To open and operate a trust account for the receipt of incoming funds (as per Guidelines of e-Money)


Receipt of aggregated sum of collections from the e-Money issuer's collection accounts


To inform the e-Money issuer to cover any shortfall in the cash balance of the trust account


To place funds with licensed financial institutions, debt securities issued or guaranteed by the Federal Government and Bank Negara Malaysia or Cagamas debt securities


To remit payment from Trust account for the purpose of refund, payment to merchant and other fees charged.


Structure of E-Money

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