The e-money and prepaid cards

The article analyzes the legal definition of electronic money (e-money). The components that make up the definition of electronic money allowed to be assigned to a family of instruments of payment along with the payment card. E-money are a type of a payment instrument. Despite the external appearances, outlined are the essential differences between the payment card and electronic money. Explored is the diversity of the prepaid cards. It is concluded that the open prepaid cards (open-loop prepaid card) for general use issued by international card organizations gives it a special status of a payment instrument. In legal aspect, the prepaid card play the characteristics of electronic money, and payment transactions that can be done with it – play the features of card payment. Put another way, the internal relationship between issuer and holder of the prepaid card is electronic money, which have technical carrier and external relationship – for payment to third parties, it functions similarly to the payment card.