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What are E-wallets and why are they so popular?

wallet-and-banknotes


The world is changing faster than ever and technology is already an important part of our lives. In this context we are witnessing some incredible new tools that make day to day operations much simpler that before.

One of these new inventions is the E-Wallet or Digital Wallet, an electronic device that allows use to make virtual transactions, like paying for stuff online. These modern devices are very popular in sports betting for example, because the make it a lot easier to deposit and withdraw funds from an account the bookkeeper’s website.

You can use the E-Wallet from your personal computer, laptop, or smartphone to buy goods or services at a website or even on a land based business, as some E-Wallets give their clients debit cards. In most cases you can link your E-Wallet to your own bank account so you can dispose of your money at an ATM machine anywhere in the world.

E-Wallets are very safe because they use high end encryption, this is one of the reasons their popularity is soaring. Most online stores accept payments with E-Wallets and freelancers also use them to get paid from clients all over the globe. As you can already see for yourself, E-Wallets are helping the world come together.

Asia is one the continents where the E-Wallet has become extremely popular as 20% of the Asian consumers are using E-Wallets to make their transactions. China, India, and Singapore are the countries where the digital wallet has reached high levels of usage.

Some of the world’s most popular E-Wallets are Skrill, Neteller, and PayPal. These three companies are major players in the digital wallet business so we’ll talk about them briefly.

Skrill and Neteller are both United Kingdom based companies and have years of experience in the E-Wallets market, a reason why consumers trust them so much for their daily transactions. Netellerand Skrill even offerVIP services with lower fees that the competition and lots of other premium services.

But PayPal is the true king of E-Wallets, the American online payments system is on the rise and is more popular every day. They have an on and off relation with online gambling, but they do offer transactions with online betting sites in those countries where gambling is legal. Aside of that issue, PayPal is accepted in online stores all over the world, and some websites even ask for donations via PayPal.