tems. Stored value cards, also known as smart cards or electronic purses allow customers to load money onto a card, which is similar to a credit card. These smart cards contain microchips that are able to store memory on them. It is possible for a smart card to serve as electronic money card, several credit cards and a debit card all at one time. The smart card can also contain personal information such as a driver's license number, emergency and medical information. This makes it accessible and handy to people from young ages to old ages benefiting !
             everyone. This would also allow many individuals to eliminate the bulk of the cards they usually carry around in their purse or wallets down to only one card. The computer-based systems are another type of electronic money that is available to consumers through a system that stores a value of currency on a PC or hard disk. This is focused for individuals in which conduct on-line transactions allowing them to make purchases through the Internet.
             This time is not just the birth of this idea. It has already been tried and implemented in several places around the world. For example, in October 1994, it was introduced in Finland in the form of a prepaid card called Avant. The company Setec developed Avant, which is a subsidiary of The Bank of Finland. Users are able to recharge these cards at service stations. The Avant card is mostly used as a replacement for low-value payments such as postal services, public transport, pay phones, parking meters and other low cost items.
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