What is a digital wallet and how does it work?

A digital wallet, also known as an e-wallet or electronic wallet, is a software application or online service that stores payment information such as credit and debit card details, bank account numbers, and other related information. It is used to facilitate transactions and payments online and in-store.

1. Download and install the digital wallet application on your phone/mobile device, and set up an account.
2. Add your payment methods (e.g. debit or credit card, bank account details) to the digital wallet.
3. Secure the wallet with aPIN, fingerprint or facial recognition.
4. Shop online orin-store and select the digital wallet as your payment method of choice.
5. Enter the required payment information and authorize the purchase.
6. Your payment information is securely stored for future use.