What is a digital wallet?
Internet is increasingly used not only as a place for information, but also as a place for shopping and commercial transactions. Online purchases usually require credit card payment or bank account transfer. The technology known as a digital wallet makes it easier and accelerates online shopping by offering consumers an electronic way of saving payment information. Digital wallet programs eliminate the need to enter payment information into each website of electronic store. Digital wallets can be created either for general use or for use with a specific site supplier, and can often be available and used from smartphones.
The term "digital wallet" applies to a number of programs that allow consumers to electronically transfer money from personal accounts to pay for goods or services. The concept of a digital wallet has appeared as a way of supporting secure electronic cash transactions as well as a way to streamline onlINE shopping. Basic is assumed that a digital wallet, also sometimes called an electronic wall, is to create a secure online space to store payment information that an authorized user can approach at any time. No manual account information is required when using the e-Wallet program.
There are two basic types of digital wallets: those own consumers, and those own sellers-websites. The simplest wallets own dealers. The next time the site offers to store payment information for the next time, usually accessible by password, the site offers the electronic wall settings. This E-Wallet will act as a tangible wallet until this user visits the website next time. The user will be able to enter their identification information and usually do just a little more than clicking. It must never be reached for your actual wallet or enter any numbers into the site.
More complicated digital wallet is a user system of wallet. Wallet user systems allow users to manually enter their payment details, including credit cards and banks' direction data to create a personalized account. Again, this account is usually secured by a number of passwords and verification challenges. After activation, the account can often be used on the web to make payments on any site that supports its technology. The accounts support the electronic store by making purchases, debit and deposits using information that has already been stored and verified. Examples of some of the more popular E-Wallet personal programs are PayPal ™, Neteller® and Moneybookers to name at least some.
Security is the highest priority for digital wallet programs. On the Internet, information can often be captured in transit by third parties that may or may not have a malicious intention. Most digital wallets are protected by several layers of encryption to avoid unintended shakeslinen. Programs are also usually secured by passwords and other verification devices to ensure that only the named owner has access to stored accounts when purchasing.
Many digital wallets are also compatible with mobile means, which means users have access and manage accounts from their phones. More and more purchases are carried out with phones with web support and with this trend more and more phones support digital wallets. Digital wallets programs are also usually equipped for processing of microymates - ie payment of a small amount of money - which can be useful in buying applications and other phone accessories, from the phone. Technology and experts predict that digital wallets will be increasingly preferred to pay for most of every purchase.