Are digital wallets a good alternative to cash?

Digital wallets are becoming an increasingly popular alternative to cash or using a debit or credit card to make payments. But what are the best digital wallets and which one is right for you?

What are e-wallets & how do they work?

E-wallets like Paypal, Apple Pay or Google Pay allow you to securely deposit funds and conduct payments or electronic transfers. There are two types: Transactions carried out by a person with a device (e.g., a smartphone), which becomes a veritable wallet (they are called mobile wallets). E.g., Google Pay.

What are the different types of wallets?

There are two types: Transactions carried out by a person with a device (e.g., a smartphone), which becomes a veritable wallet (they are called mobile wallets). E.g., Google Pay. Virtual wallets for paying online, called online wallets. E.g., Paypal.

What is a mobile wallet?

Mobile wallets are a form of digital wallet most often used on mobile devices. One of the biggest advantages of digital wallets is that they let you pay for things without credit or debit cards, once you enter and store your card and banking information in the mobile payment platform.