What is a Digital Wallet?

Also known as an e-wallet, a digital wallet is the online equivalent of a physical wallet. It refers to an electronic device or online service consumers can use to make electronic transactions.

How is it works?

-You need to install the software/app of the digital wallet on your smartphone and enter your details before using it.

-The personal details entered in the digital wallets is a one-time process. It’s store complete user information including credentials, transaction history, and personal details.

-Digital wallets can be used for online purchases as well as for user authentication. In addition, digital wallets can also be used in conjunction with other mobile payment systems. You can deposit money in the digital wallets online and use it anytime and anywhere.

-A digital wallet is just an intangible form of the traditional wallet.