Digital Wallet

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.

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.


Investment dictionary. . 2012.

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Look at other dictionaries:

  • digital wallet — ˌdigital ˈwallet noun [countable] COMPUTING software that stores information about you and your bank or credit card account and provides this information to a seller when you buy something using the Internet * * * digital wallet UK US noun [C]… …   Financial and business terms

  • Digital wallet — A digital wallet (also known as an e wallet) allows users to make electronic commerce transactions quickly and securely. A digital wallet functions much like a physical wallet. The digital wallet was first conceived as a method of storing various …   Wikipedia

  • digital wallet — skaitmeninė piniginė statusas T sritis informatika apibrėžtis Programa arba ↑naršyklės ↑papildinys finansinėms operacijoms atlikti. Joje laikomi šifruoti asmens duomenys: skaitmeninis tapatybės liudijimas, mokėjimo kortelės arba banko sąskaitos… …   Enciklopedinis kompiuterijos žodynas

  • digital wallet — /dɪdʒətl ˈwɒlət/ (say dijuhtl woluht) noun 1. a device with a software component that enables a user to make a variety of electronic payments to a vendor, as by a credit or debit card. 2. a solid state storage device for digitised data, such as… …  

  • digital wallet — /ˌdɪdʒɪt(ə)l wɒlɪt/ noun a piece of personalised software on the hard drive of a user’s computer that contains, in coded form, such items as credit card information, digital cash, a digital identity certificate, and standardised shipping… …   Marketing dictionary in english

  • digital wallet — /ˌdɪdʒɪt(ə)l wɒlɪt/ noun a piece of personalised software on the hard drive of a user’s computer that contains, in coded form, such items as credit card information, digital cash, a digital identity certificate, and standardised shipping… …   Dictionary of banking and finance

  • DIGITAL WALLET - цифровой кошелек — работает подобно физическому бумажнику при совершении электронных сделок. Может содержать информацию о платежах пользователя, цифровой сертификат, позволяющий идентифицировать пользователя и другую информацию для того, чтобы ускорить сделки. Чаще …   Словарь электронного бизнеса

  • wallet — UK US /ˈwɒlɪt/ noun [C] ► a small case for carrying money, credit cards, and small personal documents: »Using video on your website will motivate potential buyers to get out their wallet. → See also DIGITAL WALLET(Cf. ↑digital wallet) …   Financial and business terms

  • Wallet — A trifold wallet with pockets for notes and cards, and a window to display an identification card A wallet, or billfold, is a small, flat case that is used to carry personal items such as cash, credit cards, identification documents (driver s… …   Wikipedia

  • E-wallet — Same as digital wallet and eWallet. The electronic equivalent of a wallet for e commerce transactions. A digital wallet (e wallet) can hold digital money that is purchased similar to travelers checks or to a prepaid account like an EZPass system …   Georgian encyclopedia

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