Section 1: Definition

I. – Electronic money is monetary value that is stored in electronic form, including magnetic form, representing a claim on the issuer, that is issued against the remittance of funds for the purposes of payment transactions as defined in article L. 133-3 and that is accepted by a natural or legal person other than the electronic money issuer. II. – Electronic money units are referred to as units of value,…

Each unit of electronic money is issued without delay against the remittance of funds.

Each electronic money unit may only be issued for a nominal value equal to that of the funds collected in exchange.