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Definition: digital money


(1) Except for cash, gold and silver, all money is digital. See virtual currency and cryptocurrency.

(2) With regard to e-commerce, PayPal and traditional credit cards are the primary form of digital money transfer. Web browsers and Web servers encrypt connections between user and online merchant (see TLS). In the 2010s, mobile payment systems also emerged as a major form of digital money. See Web payment service and mobile payment service.