What are ewallets and are they safe?

As more and more people do their shopping entirely online, the public’s attention has been drawn to the e-wallet. Sometimes called a digital wallet, an e-wallet has been shown to be a more convenient way of transferring money online, not to mention more secure and more easily accessible.

How Does a Digital Wallet Work?

Much like a traditional wallet carries your ID and your credit card information, an e-wallet contains the information necessary to make online purchases. When using a digital wallet, you as a customer can use your e-wallet to automatically fill in lengthy forms with the necessary personal details, such as your name and billing address. In a world where we want things to be done as quickly as possible, taking the time to fill out everything an online store asks of us manually can be a major frustration. The e-wallet makes it much easier to purchase with just a few clicks of the mouse.

Is My Personal Information Safe?

The fact that the e-wallet stores all this extra personal information may make some people nervous, but truth be told, the e-wallet protects this information very securely. It heavily encrypts each customer’s sensitive personal information, making it much more secure than, for example, sending emails containing your personal information or filling out forms on websites that don’t have security encryption of their own. You can feel confident that whenever you purchase something online, your information will still be kept safe.

This is a huge boost to online sellers as well. If their site supports e-wallet transactions, e-wallet will take responsibility for the protection of that information. Smaller online sellers may not feel comfortable taking the risk that their customers’ purchase information could be hacked or leaked, but with e-wallet technology, they can rest easy knowing that all their customers’ transactions will be protected.

How Can I Get To My e-Wallet?

Access to digital wallets is now easier than ever, as they’ve gone from being stored on a home computer to being mobile accessible. Many mobile devices support the e-wallet, making it easy to shop securely while you’re browsing on your phone. With near field communication (NFC) technology, it’s easy to use your phone as your source of money by simply tapping it against an NFC-enabled reader. The e-wallet is leading the way toward new, digital methods of transferring money. As it becomes easier to access and ever more secure, you’ll have fewer and fewer reasons not to use it.