A digital wallet is an electronic device or an online service that enables individuals to make electronic transactions easily. It stores payment information such as credit and debit card details, loyalty card information, coupons, and rewards in a secure and encrypted digital format.
Digital wallets can be used to make purchases online, pay bills, and send money to other people. They eliminate the need for carrying physical cards and cash, and allow for faster and more convenient transactions. Some examples of digital wallet are Apple Pay, Google Pay, Samsung Pay, and PayPal.