Paying digitally for a service or product has been considered one the safest method of making payment. However, after the launch of the digital wallet, there is a definite shift towards increased use of this mode of payment, especially for online payments. For example while getting your Vodafone online recharge done,you can use the credit card, debit card or bank transfer for paying for the particular recharge plan. The latest technology that is gaining prominence with end users gradually is the digital wallet.
The e-wallet or the digital wallet is similar in its functioning to that of a physical wallet. It is a kind of software that transforms your smart phone into a monetary instrument. It is in fact, a pre-paid account that can be linked to one’s bank account. The e-wallet needs to be credited with money for carrying out any kind of transaction. A user needs to register with the service provider of the e-wallet service for his login id and password to be able to use it for future transactions.
M-Pesa of Vodafone is a type of e-wallet service that top cellular operator Vodafone has launched for its subscribers in India. It is quite simple to operate. … Read moreContinue Reading