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.
2  Brian K. Bucks, Arthur B. Kennickell, and Kevin B. Moore (2006), "Recent Changes in U.S. Family Finances: Evidence from the 2001 and 2004 Survey of Consumer Finances (448 KB PDF)," Federal Reserve Bulletin.