Turn your budgets into digital euros, usable immediately.
We have the solution. Electronic money is euros that MAP issues against the euros you pay in, one for one. They are allocated to the beneficiaries of the programme, used within the rules set, then redeemed under the conditions of the contract.
You want to…
You want a budget that has been voted or collected to become value the right people can spend. No cash desk to set up, no advances, and no losing track of the euros received.
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. Issuance creates no value.
- The electronic money is allocated to a designated beneficiary, 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 12 000,00 € that were not spent are redeemed at nominal value: the money in circulation and the safeguarded funds run down together, always equal.
Concrete benefits
What this service changes for your teams.
Nothing is issued without funds received
The amount issued matches the amount received. MAP’s earmarkable digital euro is euros, on a real account, that can only be used for what you decided.
A complete life cycle
Funding, issuance, allocation, use, redemption and closure: each moment is distinct, written down and reconcilable.
Remaining balances dealt with in advance
The end of a period of use and the right to redemption are two different questions. What happens to balances is settled in the contract, not after the event.
Scope of the service
The core of the service, and what is set with you.
The core is the same for every programme. What varies from one programme to the next is set with your teams, before the first spend.
What the service covers
- Earmarked issuance and the use of electronic money, described by the Poto case study.
- The five moments of a programme: funding, issuance, allocation to beneficiaries, use, redemption.
- The difference between an authorised operation and a posted operation.
What we set with you
- The flow of funds for your programme and the contractual role of each party.
- The management of balances, the reconciliation of entries and the tracking indicators.
- The redemption conditions, the exit from the programme and the treatment of remaining balances.
- A commercial name of your own for the value of the programme, defined with the white-label service.
An example for a buyer
The team running a programme, responsible for pre-funded envelopes.
That team pre-funds envelopes allocated to its beneficiaries. It follows the balances used and deals with the remaining balances under the agreed closure rules.
- Funds received (example)
- €50,000.00
- Electronic money issued
- the same amount, one for one
- Envelopes allocated (example)
- 100 beneficiaries
- Period of use (example)
- six months
- Remaining balances
- dealt with under the closure rules of the contract
Situation and values given as an example. No result and no price is announced.
Deliverables and how it works
What we put in place with you.
- The flow of funds and the contractual roles, documented.
- The management of balances and the reconciliation of the programme’s entries.
- The redemption conditions and the exit from the programme.
- The regulatory notices shown to beneficiaries.
The five moments of the cycle
A programme follows five moments. Telling them apart avoids shortcuts. Funds paid in are not yet usable. An operation that is authorised is not yet recorded.
1. The funding
The funder pays in funds in euros. That payment is the origin of the whole programme: nothing is issued without funds received.
2. The issuance
MAP issues the electronic money up to the funds received and allocates it to the programme. The amount issued matches the amount received, one for one; issuance creates no additional value.
3. The allocation
The electronic money is held by the people or organisations designated by the programme. Every holder has a balance usable within the frame that has been set, and a right to redemption under the conditions provided for in the contract.
4. The use
At every operation, MAP checks the programme’s rules before execution, then accepts or refuses. An accepted operation goes through two distinct states, authorised and then recorded, which do not have the same effect on the balance.
5. The redemption
The electronic money is redeemable in euros, under the terms settled in the contract. The contract says who may ask for redemption, within what time and on what conditions. It also says what becomes of a balance at the end of a programme.
What must not be confused
| Often confused | Distinction |
|---|---|
| The earmarkable digital euro and the Eurosystem’s digital euro | The programme has no link with the Eurosystem’s digital euro project. The earmarkable digital euro is electronic money, issued in exchange for funds. |
| The end of a programme and the right to redemption | The possible expiry of a programme and the rights attached to the redemption of the electronic money are two distinct questions, dealt with separately in the contract. |
| An authorised operation and a recorded operation | An authorisation reserves an amount; recording charges it. The two events are registered separately. |
Conditions and proof
What this service is not, and what we demonstrate.
Proof expected before any commitment
Before any commitment, we reconcile the euros received, the money issued, the balances and the redemptions. We identify the issuer, the holders, the safeguarding of the funds and the treatment of remaining balances.
Frequently asked questions
The questions asked about this service.
What is an earmarkable digital euro?
Euros, on a real account, that can only be used for what you have decided. You set the rules before the money is spent: who, when, how much, where and what for. It is electronic money, issued one for one against the euros you pay in. It is neither the Eurosystem’s digital euro project nor a bank deposit.
Does MAP provide an account, an IBAN and a card?
Yes. A real account with an IBAN, incoming and outgoing transfers. A universal payment card, not a prepaid card. Online payment, the QR code and the app, usable anywhere in the world. Your programme’s rules decide where and what they work for.
What happens if a payment is refused or refunded?
100% of operations are checked before execution. A payment outside the rules is refused, and the reason is recorded. The beneficiary knows why straight away. Refunds and remaining balances follow the programme contract. An end date does not make the funds disappear.
How much does a programme cost and when can it start?
Programme and related services
The services that go with this one.
The services combine with one another. We decide with you which ones your programme needs, and the scope of each.
Look at this service with us
Tell us who funds the programme, who uses the funds and what it must allow people to pay for. We identify the rules, what you must be able to track and the points that need validation. A MAP expert answers you, with no commitment.