Digital Wallet

A digital wallet is a modern and secure alternative to traditional physical wallets, offering users a convenient way to store and manage their payment information electronically. Operating on mobile devices or online platforms, digital wallets enable users to link credit/debit cards, bank accounts, and other payment methods, streamlining transactions. Famous examples include PayPal, Google Pay, and Apple Pay. These wallets offer features like contactless payments, loyalty card storage, and peer-to-peer money transfers. The rise of digital wallets reflects a broader shift towards a cashless society, emphasizing efficiency, accessibility, and enhanced security in financial transactions.