Talk:E-Money Directive

What is "E-money"
I created the article since I saw the need for an explanation about this directive, and since there should be articles about most EU directives. I have found it hard to understand the text in the directive. To begin with, what is "E-money"? The directive defines it as "electronically stored monetary value as represented by a claim on the issuer which is issued on receipt of funds for the purpose of making payment transactions as defined in point 5 of Article 4 of the Directive 2007/64/EC, and which is accepted by a natural or legal person other than the electronic money issuer". The Directive 2007/64/EC says in that point "	‘payment transaction’ means an act, initiated by the payer or by the payee, of placing, transferring or withdrawing funds, irrespective of any underlying obligations between the payer and the payee;". So what is "E-money"? All bank accounts are stored electronically. Someone could please sort this out.--BIL (talk) 17:53, 28 July 2016 (UTC)