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, Bitcoin wallet and mobile payment 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 website. 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 payment service, Web payment service, eWallet, identity metasystem, information card, digital coins and Bitcoin wallet.


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)
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References in periodicals archive ?
Thomas said digital wallets like GCash are expected to account for the lion's share of the payments type at 39 percent after three years.
Aite Group's Digital Wallet Innovation Awards program recognizes innovation achieved by digital wallet providers that are advancing commerce.
Aite Group has announced the winners of the 2019 Digital Wallet Innovations Awards.
The MIC said that how mobile payment systems will build up loyalty among consumers and whether more retailers will launch their own payment systems will be critical to digital wallet development.
The new digital wallet is characterised by enabling high-volume transactions, which could reach up to millions of dirhams.
Bukhari went on to say that a user residing and working anywhere in the world could upload funds and send them to Pakistan anytime through this digital wallet.
Talking about the initiative of accepting online payments via the Khalti Digital Wallet for CAN InfoTech stall booking, Subash Paudel, Manager of CAN Federation said, "The world is going digital.
"Before the unauthorized trades on April 22, 2018, Bitmain's digital wallet held approximately 890 BTC - After the unauthorized trades, Bitmain's digital wallet had approximately 265 BTC," the document explained.
The Digital Wallet is integrated with the Cafe's backend system to make an instant order without a telephone line or self- service.
While we are yet to feel the contribution of the digital wallet in addressing the problems of the unbanked, its potential is undoubtedly there.
SIA announced the launch of the new KrisPay digital wallet following a successful proof-of-concept development in February 2018.
A NEW digital wallet could be landing at an airport near you following the fruitful trail between a leading airline and FinTech partners.