Computer Programming Software Terms, Glossary and Dictionary
Digital wallet, also known as e-wallet, is a system designed for electronic commerce transactions over the Internet quickly and securely. A digital wallet can hold a user's payment information encrypted, a digital certificate to identify the user, and shipping information to speed transactions. The consumer benefits because their information is encrypted and safe, no retyping required when conduct e-commerce online from different vendors, and payment in digital cash or check. Merchants benefit by receiving protection against fraud. Paypal is an example of such digital wallet system.