These software programs can be easily integrated with mobile devices, allowing users to make payments on-the-go. This makes them a popular payment option for people who do not have access to traditional banking services. Read this article to get more information about must-have features of the e-wallets.Į-wallets provide a wide accessibility, because they can be accessed from anywhere with an internet connection. This gives users peace of mind when making payments, as their information is kept safe. Digital wallets are also highly secure payment methods, because they use encryption and other security measures to protect user data and prevent fraudulent transactions. This makes it easier for users to make payments online or in-store, without the need to carry physical cards or cash. This software allows users to store their payment information, including credit or debit card details, in a digital form. Overall, the growth of digital wallets is expected to continue as more people adopt mobile and digital payment technologies.Īffordable software to base a fintech product on Learn more What makes digital wallets extremely popular? In addition to mainstream digital wallets offered by companies such as Apple, Google, and Samsung, there are also many other digital wallets that cater to specific markets and needs.įor example, there are digital wallets designed specifically for micropayments, international money transfers, and cryptocurrency transactions. Many retailers and merchants also now accept digital wallet payments, making it easier for consumers to use them. The growth of digital wallets is also driven by factors such as the increasing use of mobile devices for shopping and the growing preference for contactless payments. The global digital wallet market size is expected to reach USD 7.1 trillion by 2027, growing at a CAGR of 28.2% from 2020 to 2027, according to Grand View Research. How e-wallets are driving the payment industry?Į-wallets, also known as digital wallets, are increasingly driving the payment industry due to their convenience, security, and accessibility. How e-wallets are driving the payment industry?.
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