Digital wallets are regarded by many as being one of the safest ways to pay for things online at websites, as well as to pay for things at thousands of land-based stores/merchants around the world (e.g., clothing stores, supermarkets, restaurants, bus stations, and Uber rides, etc.). In fact, they are often considered as being a safer alternative to traditional payment methods, such as credit & debit cards and physical cash. Find out more right here.
What is a digital wallet in a nutshell?
A digital wallet, which is also often referred to as either an e-Wallet/electronic wallet or web wallet, is a financial transaction application that can be used from any modern computing device with internet/Wi-Fi, such as a smartphone, tablet, laptop, or desktop computer. However, digital wallet transactions do not necessarily require internet/Wi-Fi/telecom connectivity for payments to be processed.
Payments that are processed without being connected to the internet are otherwise known as offline payments or offline digital payments. All you need to do is make sure you have enough digital funds stored in your digital wallet to pay for an item. The good news for online gamblers is that digital wallets can also be used to deposit and withdraw at any fully licensed casino site.
What are the most common types of digital wallets?
There are many different digital wallets to choose from today. However, depending on which country you are based in and which device you are using will determine exactly which digital wallet options will be available to you. Here is a quick look at 10 of the most popular digital wallets that are currently used by millions of people around the world, which some of you will already be familiar with by now. They include the following:
- Google Pay
- Samsung Pay
- Microsoft Wallet
- Facebook Pay
- Walmart Pay
Other popular digital wallets out there today that are also worth looking into and potentially sign up to are Venmo, Zelle, Wise, Paycloud, Due, Boost Mobile, and LifePay. You also have Dashlane, Mozido, Mobi, and Gcash. If you live in India, you may have slightly different options available compared to what options a person in the Philippines may have available to them, for example. If you live in New Zealand, you may have slightly different digital wallet options compared to what someone in the UK might have, and so on. However, many of today’s best digital wallets can be used across multiple devices and are now accepted by merchants in almost every country in the world.
How safe are digital wallets?
The great thing about digital wallets is they are virtually impossible to hack. They come with added layers of security (known as encryption technology), which makes them more secure than many other traditional payment methods. Some are protected by more advanced security measures than others, but in general, they are all extremely safe.
How do I start using a digital wallet?
It’s easy. All you need to do is head over to the official website of any of the digital wallets mentioned above and register your free account. Let’s just say that you want to start using PayPal. Simply open your web browser and then go to the official PayPal sign-up page, register your free account in a matter of seconds, and then connect your digital wallet either to your bank account or to your credit or debit card so that you can top it up with funds. As soon as you’ve topped it up with funds (could be as little as $/€/£10 or $/€/£1,000 or more), you can immediately start using your PayPal wallet to pay for things online (or offline), basically wherever PayPal is accepted at the checkout. It’s that simple.