paper and electronic devices, but the basic architecture remains the same where payments are made by transferring the monetary value stored in that media. Meanwhile, the transfer of value of an account-based money occurs when the issuer debits the account of the payer and credits the account of the payee, upon receiving the value transfer instruction from the payer.
A typical example of account-based money is bank deposits. There are a number of ways for a payer to send a bank transfer instruction to his or her bank, such as via bank teller counters, internet banking, credit and debit cards, but the basic architecture remains the same.