Digital wallets are electronic devices or online services that allow individuals to store, manage, and use their payment information for transactions securely. These wallets can hold various types of financial data, including credit card and debit card details, bank account information, and even digital currencies. Digital wallets like Apple Wallet, Google Wallet, and Samsung Pay facilitate quick and secure payments both online and in physical stores using near-field communication (NFC) technology, QR codes, or direct bank transfers. They offer enhanced security features such as encryption, tokenization, and biometric authentication to protect users' financial information. Additionally, digital wallets often provide added conveniences like tracking transaction history, managing loyalty cards, and storing tickets or boarding passes. As a versatile and secure payment method, digital wallets are increasingly popular for their ease of use and ability to streamline financial transactions.
