Uses of E- Wallet

An E-Wallet is an account which can be accessed through internet to make transactions of various kinds, from one account to another. These accounts are linked with bank accounts to make financial transactions, giving the user a cashless experience. However, financial transactions are only a type of transaction that can be made. An account holder or, an E-Wallet holder can also possess/store other cards such as health cards, driver’s license, supermarket loyalty cards, etc.

E-wallet is an online prepaid account where one can stock money, to be used when required. As it is a pre-loaded facility, consumers can buy a range of products from airline tickets to grocery without swiping a debit or credit card.

How to apply for digital wallet?

Consumers are not required to fill out order forms on each site when they purchase an item because the information has already been stored and is automatically updated and entered into the order fields across merchant sites when using a digital wallet. Consumers also benefit when using digital wallets because their information is encrypted or protected by a private software code; merchants benefit by receiving protection against fraud.

Digital wallets are available to consumers free of charge, and they're fairly easy to obtain. For example, when a consumer makes a purchase at a merchant site that's set up to handle server-side digital wallets, he types his name and payment and shipping information into the merchant's own form. At the end of the purchase, the consumer is asked to sign up for a wallet of his choice by entering a user name and password for future purchases. Users can also acquire wallets at a wallet vendor's site.