One euro received, one euro of electronic money issued
The MAP euro is electronic money issued in exchange for funds received in euros. It is held in an account, used to pay and redeemable at its nominal value.
Illustrative animation: the amounts quoted are examples.
- The funder pays in funds: a transfer of 50 000,00 € in euros arrives.
- The funds received are safeguarded: they go into a safeguarding account, separated by a partition from MAP’s own accounts, which stay at 0,00 €.
- Electronic money is issued in exchange for funds, one for one: 50 000,00 € received, 50 000,00 € issued, 50 000,00 € safeguarded. Every euro issued matches a euro received.
- The electronic money is allocated to a designated user, then spent up to 38 000,00 € at a referenced supplier, paid in euros out of the safeguarding account; the balance issued falls by the same amount.
- The remaining balance, 12 000,00 €, is redeemed at nominal value: the money in circulation and the safeguarded funds run down together, always equal.
Electronic money
Lifecycle
Funding, issuance, allocation, payment and redemption are separate events.
- Funder
01Funding
The funder contributes funds in euros.
- MAP
02Issuance
MAP issues the matching amount in electronic money.
- Your organisation
03Allocation
Amounts are allocated to the designated accounts and budgets.
- Account holder
04Use
The holder pays within the configured rules.
- MAP
05Redemption
Electronic money is redeemed in euros under the applicable terms.
Definition and parity with the euro
The value is expressed in euros throughout the journey.
- Electronic money
MAP issues electronic money up to the funds received. A €300 contribution corresponds to €300 of MAP electronic money issued.
- An identified issuer
Mon Ami Poto SAS issues the electronic money under its authorisation as an electronic money institution.
- Safeguarded funds
The funds received are safeguarded at BNP Paribas. The flow and protection mechanism are explained on the Safeguarding of funds page.
In detail
Allocation and holding
The organisation decides the allocation; each holder sees the available amount in their account.
The funder. It sets the budget and the users to whom it wishes to allocate it. The origin of contributions remains identifiable.
The account holder. They view their balance and operations. Their means of payment use the budget allocated to them.
Rules of use. Categories, suppliers, ceilings, periods and geographic areas determine authorised spending.
Redemption
Electronic money is redeemable at its nominal value.
The request. The contract identifies the holder entitled to request redemption and the steps to follow.
Processing the balance. MAP identifies the balance concerned and pending operations to process the request under the applicable terms.
Account closure. The treatment of remaining funds and the return of data are organised under the service exit conditions.
Define how your solution will work with us
Tell us about your users, money flows and requirements. We define the appropriate services and journey.