Meaning of the word "paper money" in English

What does "paper money" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

paper money

US /ˈpeɪ.pər ˈmʌn.i/
UK /ˈpeɪ.pə ˈmʌn.i/

Noun

banknotes; currency in the form of paper rather than coins

Example:
Most transactions today involve credit cards or digital payments, not paper money.
He prefers to carry a small amount of paper money for emergencies.