Core Functions of EMIs

  1. Issuance of Electronic Money:


  • Creating and distributing electronic money, which is a digital representation of value stored electronically.
  • Enabling customers to hold and transact in digital currency securely.


  1. Payment Services:


  • Facilitating various payment services, including peer-to-peer transfers.
  • Enabling online payments and purchases.
  • Allowing in-store purchases via electronic money, often through cards or mobile payment methods.
  • Supporting bill payments for utilities and subscriptions.


  1. Currency Exchange Services:


  • Providing the capability to convert electronic money into different currencies.
  • Offering competitive exchange rates, especially valuable for international transactions.


  1. Electronic Wallets:


  • Offering customers electronic wallets or accounts for storing and managing their electronic money.
  • Providing access through web and mobile applications for convenience.


  1. Regulatory Compliance:


  • Adhering to strict regulatory and compliance requirements.
  • Implementing anti-money laundering (AML) and know your customer (KYC) procedures to prevent financial crimes and ensure the legitimacy of transactions.