Digital wallets are increasingly being developed to perform more than just monetary transactions; they are also designed to authenticate the holder’s credentials.
A digital wallet, alternatively referred to as an e-wallet, is an electronic device, internet service, or software application that enables one party to conduct electronic transactions with another party in exchange for digital currency units.
This approach can include shopping online with a computer or utilizing a smartphone to make in-store purchases. Users can transfer funds into a digital wallet before any transactions, or in some situations, they can link the digital wallet to their credit card or bank account.
Are Online Transactions Putting Your Security at Risk?
Without question, digital wallets have gained popularity globally and are projected to replace cash as the primary form of payment. As millions of people increasingly rely on modern conveniences for payment and account access, and as cybercrime grows, e-wallet security becomes more essential.
