An electronic wallet (EW) is a repository for digital money. E-wallets are traditionally placed in the format of a mobile application on the phone. Less commonly, they are used on a device or computer. The e-wallet app is used more often today because it is convenient and mobile.
How do I get an e-wallet?
Download the application on your smartphone and register. The registration process will take a couple of minutes. Make sure the app you choose is reliable before providing financial and personal information.
How do I pay with an e-wallet?
Find a point-of-sale terminal (POS – editorial note), that is, a cash register that supports e-wallet. If the cash register has a contactless symbol, hold your phone up to it and pay. Payment is ready. Some terminals also support purchases with magnetic data transfer technology.
Contactless payments are harder to find, but modern terminals support MST technology. Samsung Pay, for example, works with similar technology. In addition to paying on the spot, use the payment function through the app.
How do I withdraw cash?
Withdraw cash through a partner ATM. The addresses of the ATMs available nearby are usually posted in the application itself.The applications of electronic wallets have a wide functionality: pay, transfer funds, receive, replenish the bank card or the wallet itself (via card, from a cell phone, terminal, etc.). Functionality and transaction fees depend on the application you choose.
How to understand which application to choose?
Decide what you need the wallet for. Pay attention to what countries the application is supported in, what commissions and what the system charges.
Google Pay.
Prior to 2016, Google Wallet was used as a mobile app. If you want to send money to the United States, you can do it with Google Wallet. All you need is an email address or phone number. You can send from your card, bank account, or wallet balance. Transfers go through in a couple of minutes, and you will need a Google Payments pin code to access the funds.
PayPal
The oldest digital payments company. If you’re looking for a trusted and reliable company, check out this app. Paypal One Touch is an extension of Paypal’s services. Transfer money or make payments here much faster than before.
Save time when you skip the login window of the app and the tedious process of entering your password. The technology is used on both computers, tablets and laptops. What are the drawbacks? Paypal still charges a fee for transferring from your card or converting the transaction to another currency.
Apple PayApple Pay (AAPL) is a concise digital wallet app designed exclusively for users of Apple devices like the iPhone or Apple Watch. Pay in-store, online – anywhere.
In the store, unlock the app with a pin or FaceID and then bring your device to the checkout to complete the transaction. Apple Pay is easy to use – making payments is easy and secure. Most stores generally support Apple Pay.
Samsung Pay
Samsung Pay is a digital wallet app for Android users. It has been functioning since 2011. Although the app is only for Samsung users (SSNLF), other users can download it as well.
Pay on the spot, online or through the app. Also take advantage of partial refunds and bonuses at large retailers. It’s hard to resist.
PayeerPayeer entered the online payments market in 2012. The company grew out of an e-currency exchange service. Customers use the payment system in 200 countries. Payeer works with cryptoservices, which makes the application attractive in the eyes of miners and cryptocurrency traders.
Why Payeer? It’s a multi-currency wallet that offers online business opportunities. In addition, sites such as forex or online gaming sites now offer Payeer as a payment method.