What is a Digital Wallet and How Can it Make Shopping Easier?

In days gone by, there seemed to be a clear line drawn between our online shopping habits, and what we did in the real world. For anyone around during eBay’s heyday back in the mid-2000s, using PayPal is likely to be second nature – just as simple as using contactless payments at the checkout in real-life shops.

The thing is, these days, the line drawn between your digital habits and your physical spending habits – much like in every other area of life – is growing more and more blurred, and your digital wallet can now prove just as useful in real life as it does when you’re sitting behind your computer screen at night.

Read more about digital wallets, and how they are being used both on and off-screen.

The Digital Wallet: A Brief Summary

Consider the uses of a traditional wallet. They hold onto money, effectively ‘dispense’ it as and when it is needed, and, if you’re a little more fastidious than those who lose their receipts in the footwell of the car or pockets of rarely-used coats, keep track of our daily spending habits, too. These are the functions fulfilled by digital wallets, just in a more intelligent way that circumvents the need for us to iron out our receipts, or stand at the back of the shop counting spare change.

Digital wallets are used for all sorts of online transactions, from online shopping to gaining access to a live casino, event or online class. Some of the most common examples include Apple Pay, Google Pay, Skrill, and PayPal – the one often famed for having started it all.

There are many benefits to using services like PayPal. In essence, rather than logging your credit or debit card details into individual sites as and when you need to make a payment, your log in details for your digital wallet account can be used. This is more secure, and much more efficient than getting your card out every time.

How Are Digital Wallets Changing Real-Life Shopping?

It’s not only online where digital payment services can be used. Just recently, PayPal unveiled their new QR code system, which enables you to pay for products at the checkout with just your phone – much like Apple Pay and Google Pay.

But, considering how convenient contactless card payments now are, why are these services proving so popular at the checkout? First of all, we carry our phones with us wherever we go – in all likelihood, with even greater frequency than we carry our purses and wallets. Considering how dependent we are on our phones; it is incredibly unlikely we would forget them.

By integrating our ability to pay into our devices, we can venture out with only one essential: our phones. We can also log in and check on our spending – and avoid overspending – at the touch of a button, using our phone’s existing security features.

In that sense, it is much more secure. The downside to contactless card payments is the fact that anyone who finds our card – or steals it – can use it to pay for goods, up to the limit. If someone were to find your phone, then the use of facial recognition, keycode or password would ensure that your money remains locked safely away.

For this reason, adopting a digital wallet is more efficient and safer than ever before, and offers plenty of benefits over a physical one.


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