Digital Wallet

tags

Fintech URL

Digital Wallets contain digital versions of your credit and debit cards that are stored in wallet apps on your mobile device.

Examples of these apps include

• Apple Pay®,
• Samsung Pay and
• Google Pay. (To help protect your security, your card number and personal information are not stored.)

A digital wallet also encompasses software like

• PayPal and
• Venmo, which either have
  • online payment capabilities or
  • can transfer funds between two users

ref

Mobile Wallet #

ref

• Mobile wallets are used by people who would rather not carry a *physical wallet when making in-store

purchases*.

• For this reason, these wallets have to be used on mobile and easy-to-carry platforms.

Apple Pay, Samsung Pay, and Google Pay are examples of mobile payments that can be installed on a handheld or wearable device.

Digital wallets can also store: #

ref

• Gift cards
• Membership cards
• Loyalty cards
• Coupons
• Event Tickets
• Plane and transit tickets
• Hotel reservations
• Driver’s license
• Identification cards
• Car keys