society means that all currencies are becoming digital currencies, but they are not presented to us as such. Types of systems Centralized systems Currency can be exchanged electronically using debit cards and credit cards using electronic funds transfer at point of sale. Mobile digital wallets A number of electronic money systems use contactless payment transfer in order to facilitate easy payment and give the payee more confidence in not letting go of their electronic wallet during the transaction. In 1994 Mondex and National Westminster Bank provided an "electronic purse" to residents of Swindon In about 2005 Telefónica and BBVA Bank launched a payment system in Spain called Mobipay which used simple short message service facilities of feature phones intended for pay-as-you-go services including taxis and pre-pay phone recharges via a BBVA current bank account debit. In January 2010, Venmo launched as a mobile payment system through SMS, which transformed into a social app where friends can pay each other for minor expenses like a cup of coffee, rent and pay a share of the restaurant bill when one has forgotten their wallet. It is popular with college students, but has some security issues. It can be linked to a bank account, credit/debit card or have a loaded value to limit the amount of loss in case of a security breach. Credit cards and non-major debit cards incur a 3% processing fee. On 19 September 2011, Google Wallet released in the United States to make it easy to carry all one's credit/debit cards on a phone. In 2012 Ireland's O2 (owned by Telefónica) launched Easytrip to pay road tolls which were charged to the mobile phone account or prepay credit. The UK's O2 invented O2 Wallet at about the same time. The wallet can be charged with regular bank accounts or cards and discharged by participating retailers using a technique known as 'money messages'. The service closed in 2014. On 9 September 2014, Apple Pay was announced at the iPhone 6 event. In October 2014 it was released as an update to work on iPhone 6 and Apple Watch. It is very similar to Google Wallet, but for Apple devices only. Central Bank Digital Currency (CBDC) Central Bank Digital Currencies are a form of universally accessible digital money in a nation and hold the same value as the countries paper currency. Like cryptocurrency, CBCD's are held in the form of tokens.