As the digital era continues to evolve, so do the ways in which we handle our finances. One such convenience is the eMoney gift card, which allows us to make purchases online or in-store with ease. With its user-friendly interface and simple redemption process, unlocking the benefits of an eMoney gift card has never been easier. Whether it’s for personal use or as a corporate gift, this digital currency is quickly becoming a popular choice for those looking for a hassle-free shopping experience.
What is an eMoney gift card?
An eMoney gift card is a digital card that contains a specific amount of funds that can be used to make purchases online or in-store.
How does an eMoney gift card work?
An eMoney gift card works like a regular gift card, but instead of a physical card, it is digital.
What are the benefits of using an eMoney gift card?
An eMoney gift card offers several benefits, including convenience, security, and flexibility.
How can an eMoney gift card be personalized?
An eMoney gift card can be personalized by adding a custom message or image to the card.
Are there any fees associated with an eMoney gift card?
There may be fees associated with an eMoney gift card, such as activation fees or inactivity fees.
2. With eMoney gift cards, you can easily keep track of your gift card balances and transactions, making it easier to manage your finances.
Vouchers are a useful thing. You can get them in the supermarket around the corner, even there is another Lockdown. They are the ideal gift for persons who already have everything. The issuers get liquidity without having to pay interest. And the retailers who sell vouchers for others are happy about an additional margin without stock-keeping and with a small presentation area. Reason enough for us to take a closer look at what licenses are needed to issue and distribute electronic vouchers. And since we have arrived in the 21st century quite a while ago, we will only deal with electronic vouchers in this article. Electronic vouchers are vouchers where the credit is stored electronically e. This is the case regardless of the material of the item used to redeem the voucher e. When vouchers are referred to in the following, only electronic vouchers are meant. If you want to issue vouchers, e. The question is important for two reasons in particular Firstly, issuers of e-money need a license. In Germany, BaFin is the competent authority for issuing such license. Secondly, when issuing e-money, one must fulfil so-called due diligence obligations under anti-money laundering law. For example, you are generally obliged to identify your customer. Both requirements would make vouchers rather unattractive. But when is a voucher e-money? It reads. It is not only when issuing vouchers that the question of the license requirement arises. A retailer who distributes vouchers of a third party issuer must also deal with this question. Incidentally, the obligation to obtain a permit does not exist because of the distribution service i. But in most cases, the distributing retailer will accept the purchase price for a sold voucher from the purchaser of the voucher and transfer it to the issuer. This is basically a payment service for which license is required. However, there are two constellations in which the collection of the payment price in voucher sales does not require a license. Christian is a lawyer and partner at Annerton law firm Munich office. He has over 15 years of professional experience advising German and international clients on banking, regulatory and payment law, including anti-money-laundering law. This is a very good piece. What is not very harmonised, in my view, is the interpretation and application of both the commercial agent and limited network exemptions not even within the EU as much as they exist elsewhere. This is excellent and very helpful in setting out the relevant legal issues, particularly for jurisdictions that have not yet addressed these issues with much detail and clarity. Thank you! Your email address will not be published. P Payment. License requirement for issuing electronic vouchers If you want to issue vouchers, e. A voucher is issued on the receipt of funds if the first purchaser of a voucher pays an equivalent value for it. In other words, a voucher that is given as a gift by the issuer is not issued on the receipt of funds and is therefore not e-money. For this reason, vouchers that you get from an online shop because you have not ordered anything for a long time are not e-money. A voucher can be redeemed with third parties if there is at least one merchant who accepts the voucher as a payment method and who is not the issuer itself so-called third-party acceptance. The answer to this questions depends on the legal entities involved. It means that we have third-party acceptance even if a voucher is accepted at a subsidiary or a franchisee of the issuer. This even applies if they have the same designation in the company name e. Or the other way round a voucher is not e-money if the issuer e. Drogeriemarkt GmbH based in Baden-Baden is the only retailer where you can redeem the voucher. A voucher is not e-money if there is a applicable provision in the law in which the legislator has ordered a corresponding exception. Limited-network products are, for example, vouchers that can only be redeemed in Germany and only at merchants doing business under the same brand. Limited-range products are, for example, vouchers that can only be redeemed for a very limited range of products e. The principle is that exceptions must be interpreted narrowly. The Visa acceptance logo is therefore not a trademark that justifies the application of the limited network exception! License requirement for the distribution of electronic vouchers It is not only when issuing vouchers that the question of the license requirement arises. However, there are two constellations in which the collection of the payment price in voucher sales does not require a license A license obligation does not exist if the retailer distributing a voucher acts in his own name and acts like a genuine seller. To understand what this means, let us form a simple comparative case When a do-it-yourselfer buys a bucket of paint at the hardware store, the cashier of the hardware store will take the purchase price for the bucket of paint.