E-Purse definition

E-Purse means an application in a Smartcard able to store and manipulate electronic value according to a standardised set of rules comprising the various data elements, algorithms, systems and back end operations required to support a highly secure electronic value payment mechanism suitable for delivery via contactless or contact technology with security suitable for banking purposes.
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Examples of E-Purse in a sentence

  • Transfer of ORCA E-Purse funds and transit products takes approximately 10 business days.

Related to E-Purse

  • Opium poppy means the plant of the species Papaver somniferum L., except the seeds thereof.

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  • Wedge filter means a filter which effects continuous change in transmission over all or a part of the useful beam.

  • Harvest means the act of removing a marine species with the intention of not returning it to the water.

  • Transit-oriented development means infrastructure improvements that are located within 1/2 mile of a transit station or transit-oriented facility that promotes transit ridership or passenger rail use as determined by the board and approved by the municipality in which it is located.