What is e-wallet | How does e-wallet work? | and how to use e-wallet?

What is e-wallet | How does it work? | and how to use e-wallet? :- Friends, today we are going to talk about e-wallet from all the people, what is e-wallet. How does e-wallet work? and how to use e-wallet? All questions like this will be answered.

E-wallet

E-wallet is a digital wallet. Which are used to make an electronic transaction? Includes online shopping, bill payment, recharge, ticket booking, money transfer.

E-Wallet's full name is Electronic Wallet. It is also called a mobile wallet, digital wallet, virtual wallet.

What is e-wallet | How does e-wallet work? | and how to use e-wallet?

What is a digital wallet?

The work you can do with a wallet kept in a pocket. Almost the same thing can be done with this digital wallet.

Mobile Wallet offers you a prepaid service. That means you have to put money in the wallet first. After this, you can use the money available in the Wallet to pay for the included online services. Its best example is the Paytm App.

Types of e-wallet

Due to the increase in digital payment services in India, dozens of mobile wallets have come. By which you are offered a number of special digital services free of charge. Based on their services and work and according to the Reserve Bank of India (RBI), they are divided into several categories.

• Closed E-Wallets
• Semi-Closed E-Wallets
• Semi-Open E-Wallets
• Open E-Wallets

1. Closed E-Wallets

These E-Wallets can be used only for a specific site. You can not make any online transactions on any other site. These are a one-way personal digital wallet.

2. Semi-Closed E-Wallets

This is the second edition of Closed E-Wallets. But you can use these online transactions on one site besides other sites related to that site. But you do not get cash withdrawal facility.

3. Semi-Open E-Wallets

You can make purchases through these digital wallets. And you can also do other online transactions. These e-wallets are accepted in many places. Therefore, you can easily make online transactions in major and popular places. But these digital wallets also do not allow you to cash withdrawals.

4. Close E-Wallets or Banking Wallets

These digital wallets are also known as banking wallet. Because they are issued by the bank only. And they are connected to your bank account. You can also do Cash Withdrawal in addition to online transactions.

Features of e-wallet

• Digital wallets are convenient. Because now you do not have to go to the bank and there is no need to keep the cash.
• It is available for free.
• These are fast and easy. Through this, you complete the transaction in just a few hundred.
• Safe and dependable. Because you do not want to share your debit/credit card information with anyone.
• A record of each transaction is available. Which we can ever see and test.

Where can I use an e-wallet

• You can buy online and pay by the digital wallet.
• Recharge your mobile recharge, cable, DTH.
• Electricity, water, gas etc can pay sitting at home. And you can secure yourself by the difficulty of standing in long queues.
• You can also book movies, buses, air tickets etc. from your home, from school to the office.
• Can send money to your bank account. And if you need, you can also send money to your friends, family and relatives.
• You do not have to shop out the shop for open money. Because payment of one penny may also be made through e-wallet.
• If you do business then you can accept payments from customers...

How does e-wallet work?

E-Wallet serves as an intermediary. It mixes the customer and the shopkeeper in one place. For which the following elements are used in it.

• Software
• Information

Through software, Wallet provides encryption for its users. In order to keep personal information (name, address, mobile number, email id, bank account etc.) provided by the user,

And in the information part, you are the personal information of the user. Which has just been mentioned above?

When you pay by digital wallet, the information from the merchant comes in front of you. Your payment is completed as soon as you enter the security PIN.

When using e-wallet, be sure to keep a few things in mind.

• Do not tell your e-wallet password and user name to anyone.
• Do not share the PIN number you impose with anyone
• Make online transactions only at reliable and secure places. And keep the details of each of your transactions.
• Go to the bank and start the SMS Alerts facility. So keep checking your bank account information over the phone.
• From time to time, change the username, password and PIN.

Top Mobile Wallets in India

• Paytm
• PhonePay
• PayUmoney
• SBI Buddy
• Google Pay
• Airtel Money

Friends, hope you have what is e-wallet. How does e-wallet work? | and how to use e-wallet? As all questions have been answered. So do not forget to comment on us And share this post with as much as possible with your friends.