electronic cash

noun [U] (also e-cash, also electronic currency, also e-currency, also electronic money, also e-money, also digital cash)

Definition

› money kept in electronic form which allows a buyer to pay for goods and services on the internet without using a credit card: The Electronic Commerce Promotion Council has worked to harmonise Japan with other countries by promoting online shopping and electronic cash.

› money kept in electrical form on a smart card, that can be used to pay for goods and services in shops, etc. without using a credit card: an electronic cash card/register/system The electronic cash can be given to a shopkeeper to pay for goods by simply slipping the card into a reader

(Definition of electronic cash noun from the Cambridge Business English Dictionary © Cambridge University Press)