1, in layman's terms, is an electronic cash transaction, which is to superimpose an electronic wallet account on your bank card. You can choose to pay by bank card account or electronic cash account when you swipe your card.

2. Electronic cash is regarded as cash, and the upper limit of the account is 1000 yuan. Like cash, it is anonymous and does not report the loss. In other words, if you lose your card, you can reissue it, and the money in your bank account is still there, but you can't get it back, just like if you lose your wallet, you can't get it back.

Extended data

Electronic cash is a mature electronic payment method, which is suitable for small transactions paid through the network.

The characteristics of electronic cash:

1. There should be an agreement and authorization relationship between banks and merchants.

2. Users, merchants and electronic cash banks all need to use electronic cash software.

3. Electronic cash bank is responsible for the transfer of funds between users and merchants.

4. Electronic cash is anonymous to users, and the use of electronic cash can protect users' information.

Baidu encyclopedia-electronic cash