Digital Wallet
Definition of 'Digital Wallet'A system that securely stores users' payment information and passwords for numerous payment methods and websites. By using a digital wallet, users can complete purchases easily and quickly with near-field communications technology. They can also create stronger passwords without worrying about whether they will be able to remember them later. Digital wallets can be used in conjunction with mobile payment systems that allow customers to pay for purchases with their smart phones. They can also be used to store loyalty card information and digital coupons.Also known as an e-wallet. |
|
Investopedia explains 'Digital Wallet'By storing all of a consumer's payment information securely and compactly, digital wallets largely eliminate the need to carry a physical wallet. Also, digital wallets are a potential boon to companies that collect consumer data. The more companies know about their customers' purchasing habits, the more effectively they can market to them. The downside for consumers is a loss of privacy. |
Related Definitions
Articles Of Interest
-
The Pros And Cons Of Internet Banks
Learn how internet banking services stack up against those of their brick-and-mortar peers. -
Your First Checking Account
This owner's manual will show you what to expect from your bank. -
Automating Your Bill Payments
Automation can be a painless (and free) way to remove the stress of bill scheduling from your life - if you do it right. -
Popular Technology For RIAs
Registered Investment Advisors can reap benefits from a gamut of technological products available on the market today. -
Emerson – More Realistic, But Not Necessarily Better
Emerson's relative performance may be positive, but the net value is still lacking -
F5 Networks Takes Another Whirl In The Tech Spin-Cycle
F5's guidance adds more fuel to the tech bear bonfire. -
Hope Seems To Outshine Reality At Acuity Brands
Acuity's near a 52-week high, but expectations seem high relative to margin and ROIC prospects. -
A Big Bet On Cyber Security
As computers, cloud computing and data networks continue to be a part of our everyday lives, protecting them is quickly becoming a hot button issue. That certainly bodes well for the firms in ... -
If I want to have some cash in a liquid account for unexpected emergencies, what is best? A savings account or another type?
It's always a good idea to keep some money set aside in a liquid form, but it's a double-edged sword, because the more liquid your money, the less it's earning. If you never have an emergency, ... -
5 High-Priced Apple Products
With the skyrocketing demand of anything Apple, many have profited off the demand by selling Apple merchandise on the auction block.
Free Annual Reports