WebT-money is a re-loadable system of smart cards and other “smart” devices for payment of transit in and about Seoul and other parts of South Korea. In several retail businesses and other companies, T-money is like a debit card. T-money Co., Ltd, by Seoul Special City Government, LG CNS, and Credit Card Union, operates the T-money System. WebFiat Money. Fiat money is the monetary system in which the government guarantees the value of money but it is not backed by any valuable commodity. Moreover, we cannot exchange the money with any gold or silver. However, the government guarantees the money value which enables it to exchange other goods or services between buyer and …
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