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Digital Wallet
A digital wallet is an electronic device, software program, or online service that stores payment information and allows users to make electronic transactions.
Digital wallets can store credit cards, debit cards, loyalty cards, and cryptocurrency. Examples include Apple Pay, Google Pay, and PayPal. They use encryption and tokenization to protect payment information during transactions. Many wallets use biometric authentication for login and payment approval.
Related Terms
Fintech
Financial Technology
Fintech refers to technology-driven innovation in financial services. It encompasses mobile banking,...
EFT
Electronic Funds Transfer
EFT is a broad term for any transfer of money from one bank account to another through electronic me...
Cryptocurrency
Cryptocurrency is a digital or virtual currency that uses cryptography for security and operates on ...
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