A digital wallet now started to take place of a normal wallet that cannot protect the money from senators. If you accidentally drop the wallet, you will lose all the money. But on the other hand, if you are using a digital wallet then your money is safe & secure all the time.
A digital wallet can make online payments, send & receive cash, and done payments with just one click. Now if you want to know how it works and can make your life easier then keep reading. I will explain and everything about it.
What is a digital wallet?
A digital wallet is mostly in form of a mobile app that you can take everywhere you go. The app can store all the detail of credit and debit card in form of virtual data. Now you don’t have to carry the physical card with the risk of losing it. You can also save e-voucher and digital tickets, this way you can keep everything in a single place.
How does the digital wallet mobile app work?
As we explain an earlier digital wallet is mostly the mobile application or software. The app’s software is connected to the relevant company. Making the payment is much easier.
Different digital wallets mobile app provides different functionalities which can make online payments, cashback, in-store payments, and cash withdrawals from selected ATM’s.
There are also two types of digital wallets, one is closed, and the second is semi-closed. Which allows transactions from selected groups or only the bank which issued it. So, make sure about its type before buying it.
Where & how to download the digital wallet
Downloading the digital wallet is much easier than you think. It will only take few minutes to download your required or bank digital wallet mobile app. Then enter the account or debit card information to verify your identity. And start spending the money you required.
When you also create an N26 account which can give you N26 Mastercard right inside your smartphone. The master card can be linked to google play and apple pay instantly. This will open many payment opportunities to the user.
Famous digital wallet
1. Google Pay
Google pay uses the NFC so that users can use fingerprints, passwords, and encrypted card information is also present for easy payment.
2. Apple Pay
In apple pay, users can use the face id or touch method to provide high security to the user with less effort.
3. Pay Pal
Pay Pal is also one of the widely used methods for online payments and transactions which can make life easier.
4. Samsung Pay
Samsung pay is also gaining popularity in the recent few years. Which can enable you to make online payments of all types. So just use it to save time and effort.
Advantages of using digital wallets
A Digital card is easier to use as compared to a simple pocket wallet. It will also save you from entering the account details each time you check from an online store like Amazon or Shopify. The debt card number is never saved in your mobile rather it is stored in a virtual number. It will secure your debit card in case of lost or stolen.
Always choose the best mobile wallet which provides high security and information confidentiality.