An e-wallet is a digital wallet that allows users to store and manage their money online. E-wallets are becoming increasingly popular as they offer a convenient and safe way to make transactions online.
There are several different types of e-wallets available, but the most common ones are Momo, Apple Pay, and Google Pay. Each one works slightly differently, but all three allow you to store money in an account and use it to make purchases or send payments. . Users load money into their e-wallet using a credit or debit card, or by linking their bank account to the e-wallet. Once the money is loaded into the e-wallet, it can be used to make purchases online or send money to other people.
E-wallets offer a number of advantages over traditional wallets. They are more secure than carrying cash, as the funds are stored electronically and can only be accessed with a password. E-wallets also allow users to track their spending and see exactly where their money is going.
How does an e-wallet work?
E-wallets are quite simple to set up and use. They can be linked to a credit or debit card (and sometimes to your bank account), allowing users to make purchases online more quickly than with a traditional credit card.
E-wallets are generally free to use and offer a number of advantages over traditional wallets. They can be set up quickly, they allow you to track your spending and they can be used anywhere in the world. But it’s not all good news. E-wallets can also be hacked and have been before. That’s why it’s important to choose reliable e-wallet providers like MoMo or ZaloPay, which have more than 20 million users in Vietnam.