digital wallet


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Related to digital wallet: Digital cash

digital wallet

(1) A smartphone app for making financial transactions in a retail store. See smartphone wallet and mobile payments service.

(2) A desktop app for making credit card purchases online. It eliminates entering shipping, billing and credit card data when a purchase is made at a Web site. The data either reside in the cloud or are encrypted in the user's computer, and the wallet's digital certificate identifies the cardholder. A digital wallet may also store insurance and loyalty cards, drivers' licenses, ID cards and site passwords. Some wallet apps let users enter additional data.

Merchant Wallets
In order to make ordering painless, large e-commerce sites such as Amazon.com have for years provided their own digital wallets by storing their customers' credit card data on their own servers.

The Wallet Renaissance
In the early days of the Web, people were skeptical about entering credit card data, and the electronic wallet was conceived to promote a secure e-commerce environment. Although millions submit their card data online without a wallet today, mobile payments may cause nearly everyone to have a digital wallet in the future (see smartphone wallet). See mobile payments service, Web payments service, eWallet, identity metasystem, information card, digital coins and Bitcoin.


Automatic Fill-in-the-Forms
This earlier digital wallet saved the user's name, address and credit card data. When placing an order online, it filled in the forms. (Image courtesy of EntryPoint, Inc.)







An eWallet Card
Available for many years on all popular platforms, Ilium Software's eWallet stores all pertinent information for each credit card entered by the user. See eWallet. (Image courtesy of Ilium Software, Inc., www.iliumsoft.com)
References in periodicals archive ?
SAN FRANCISCO -- Nobody is in a rush to toss out their leather wallet and replace it with a digital wallet on their phone.
Using the word 'me' as part of our new digital wallet brand emphasizes the personalized nature of Visa's digital wallet," said Heather Clifton, head of global marketing initiatives and innovation at Visa.
Monahan, who stressed at the time of the interview she had no knowledge of CU Wallet, said early adopting consumers already are making their digital wallet choices and that financial institutions waiting to offer the payment channel run a real risk of being left behind.
This new app is in line with the emerging trend of paying for products and services with cellphones or digital wallets.
Skrill will assist in serving Second Life users around the world by offering more than 100 payment methods through its Digital Wallet, including local payment options for international Second Life users.
PayPal is also winning millions of users although some see it still struggling to establish its use as a digital wallet.
The digital wallet frontier is one of the hottest topics of 2015 and it's exciting to see top industry analysts recognize Ziploop as leading the way," says Ziploop CEO and Co-Founder Peter Jackson.
Google is not planning to take on commercial banks in Australia by launching its digital wallet in the nation, according to the firm's Australian managing director, Maile Carnegie, The Sydney Morning Herald has reported.
Owners of NFC-enabled smartphones can now make contactless payments at more than 35,000 locations in Germany provided they have a digital wallet equipped with a payment function, like the digital Maestro card.
me, Visa's new digital wallet program designed to make online shopping easier and more secure.
Tyfone's robust u4ia[R] platform in addition to mobile banking, enables secure NFC contactless payments and enhanced strong ID authentication, providing end-to-end secure digital wallet and payment services by the Credit Union and for Credit Union members.