OREANDA-NEWS. NEC Corporation is providing a complete prepaid electronic money (e-money) system that includes system servers, media (cards, smartphones, etc.) and payment terminals. Starting today, NEC's "Integrated Electronic Money Solution" is available both inside and outside of Japan.

This new solution consists of three primary elements: (1) "E-money servers" that manage prepaid e-money issuing, transactions, balances, user accounts, settlement, etc. (2) "E-money media," including cards, mobile phones and smartphone applications for when users make payments (3) "E-money payment terminals" for stores to read information from e-money media.

E-money servers allow NEC to provide these functions as a cloud service, which enables the system to be quickly implemented and maintained at a low cost.

"NEC is an e-money pioneer with advanced technologies that include platforms, cloud computing and smartphones. Its end-to-end solutions enable retailers to quickly and easily expand their e-commerce business," said Nobuhiro Ide, Assistant General Manager at NEC Corporation. "This solution has already been adopted by one of the world's best known convenience stores and a leading multiplex cinema operator in India. We aim to continue promoting this business model with retailers all over the world."