Features of e-wallet development. What is it and how does it work?

Is this the first time you hear about digital wallet? Now WalletFactory – https://walletfactory.com/en-ke/ will briefly talk about digital solutions, and how white label helps to save money on development.

The digital economy is increasingly spreading among people around the world. Unlike the standard banking economy, transferring money using an e-wallet takes far less time and the price of transaction is much less than sending cash. Today, the share of payment soft in the global economy is steadily rising.

But to transfer digital money, you need soft. Digital wallet helps to solve this problem. Do you often lose bank cards? Digital wallet will help with this too – you no longer have to carry a card with you. Everything you need will be in your e-wallet.

What is used in digital wallet?

Digital payment soft, which is also an electronic wallet, uses applications such as Apple Pay, Google Pay, Samsung Pay. Through these platforms, contactless payment for purchases without a bank card is carried out. For this, the NFC wireless standard is used.

Digital payment soft is installed not only on smartphones. It is integrated into a smartwatch, which makes the settlement process even more convenient. It stands to mention, that the electronic wallet and mobile software have a significant difference from each other. Access to the digital wallet can be obtained on any device, which significantly expands the specifics of the application, however the mobile wallet is available only on a smartphone.

How digital wallet works

Payment soft – specialized software that is used for purchases, money transfers. Here you may also link a bank card of any financial institution – you do not need to carry it with you. You can use the funds on the card through e-wallet. The transaction is protected by specialized encryption.

Also, by means of digital wallet you may:

  • transfer money to anywhere in the world in a minute;
  • buy currency without leaving home;
  • invest in stocks;
  • make purchases over the Internet.

E-wallet works fast regardless of the device type. Transferring money, paying for purchases (in most cases) is absolutely free. Payment soft is easy to set up – the interface is intuitive.

Get payment soft today. WalletFactory will develop a digital wallet specifically for your company’s infrastructure. Contact us right now, we will advise for free, we will offer an e-wallet on a white label basis.