The e-wallets, also known as digital wallet or electronic wallet, are one of the new payment methods that has experienced more growth in recent years.
It is a wallet or purse available through the Internet where you can keep currencies. E-wallet is not a bank account, it is only a tool that facilitates electronic payments in affiliated stores and internationally very quickly. The money kept in them is not physical, but it can be transferred to bank accounts.
An electronic Wallet can be managed from a smartphone , computer or computer in a very simple way, with a password .
There you can receive payments for different concepts in the currencies accepted by the Wallet. If you require another currency, you can go to an exchange.
For people accustomed to making purchases over the Internet, having an electronic wallet can make your life easier. From an e-wallet application the user can manage their money virtually from their mobile and make payments easily at any time.
What are the main advantages of using an wallet?
When making payments using cash, we always run the risk of receiving the wrong change or of losing a note. In addition, when we carry out card transactions, we may be surprised with a fake ATM or even have our password and card stolen.
The digital wallet, on the other hand, is very secure and does not send your data to make the payment, for example. That’s because it uses QR Code or NFC (payment by approximation) technology. Both are very safe.
As security is always a concern on digital issues, we have to say that all electronic wallets use encryption and tokenization technology. When paying with an electronic wallet, the online store never has access to card or account data.
It is common for the user to have to unlock their device and then enter the password of their digital wallet or use the authentication method enabled.
Ease of Use
Another important note to point out that its use is very practical, simple and convenient, since the payment is made faster than by entering the conventional credit card in the POS. In addition, it is not necessary to use any pin in most transactions, as long as the price is not very high.
In addition, e-wallets store all the movements made with the cards as electronic receipts, so using them there is no need to waste paper. In addition, it is more difficult to lose the phone than the printed ticket that justifies the purchases and reflects the charges, so it also facilitates the claims in case of some erroneous collection.
Greater control over your spending
As everything you pay for with your digital wallet is recorded in it, it becomes easier to control expenses. Because, whenever you need you can consult the payment history and see everything that was purchased through the wallet.