What is an electronic wallet?

E-wallets, also known as digital wallets or electronic wallets, are one of the new payment methods that have experienced the greatest growth in recent years. Banks, fintech companies and other companies not directly linked to the financial world have their own electronic wallets. This means that the number of e-wallets currently available is considerable. For people used to making purchases over the Internet, having an electronic wallet can make life easier. From an e-wallet application, the user can manage their money virtually from their mobile and make payments simply at any time. The popularity that digital wallets have achieved is partly due to the convenience and ease they provide when paying. And this is precisely the basis of the great advantage that businesses can obtain by integrating an e-wallet. Thus, the end user pays with his electronic wallet to buy a plane ticket or pay for a reservation. In addition, transfers can also be made, services such as subscriptions paid, and updated information on the available budget.