Ewallets: Why Now is the Right Time to Switch!

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    Nov 08, 2013
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Ewallets: Why Now is the Right Time to Switch! Photo by Emily Taylor

These days we live in a digital world – it’s all we know, all we do. The amount of access we have to information and media, at any given time, is remarkable. Today’s technology has created some of the greatest innovation the world has ever seen, and because we’re immersed in it, we often times take it for granted. Let’s look at money as an example. This is something the majority of us use on a daily basis, and yet the way we use it has changed so much in such a short amount of time; what can you tell me about an ewallet, for instance?

A little more than a decade ago, people were tremendously afraid of transferring their money, and sharing their personal information, over the Internet. An e-wallet was considered a risk, or at the very least a scary proposition, in the year 2000. But fast forward to today and online transfers have become our preferred way to exchange money. Of course, in the past, it made sense that you were uncertain about digital wallets; your vulnerability was warranted because it was a brand new technology that was still unproven. Those fears should be long gone by now, but for any of you still clinging to that leather wallet or purse of yours, here’s a little proof that explains just why ewallets are no fad – in fact, there are a couple of key benefits to owning one!

What is an ewallet?

Before you reject the idea outright, or before you even consider throwing away your carry wallet, you need to know exactly what an e-wallet is. Also known as an electronic wallet (hence the “e” in its name), this is a digital wallet that stores your financial information online. This information includes your bank account and credit card details. The job of a digital wallet is to keep all of your information safe in one place, so that you can use it anytime and anywhere.

ewallets are Convenient

One of the main benefits of owning an e-wallet is convenience. When you use a digital wallet, all your needed information, whether you are making payments, sending or transferring money, or even shopping online, is in one nearby place. For one, this saves you time. With a digital wallet, your credit card information is right there without the hassle of searching. This convenience will come in handy no matter what you are doing online. Second, you cannot easily transfer funds with a physical wallet. If you want to lend or give anyone money, you’d have to go to your bank, take out the money, then physically take it to that person in order for them to receive it. With an ewallet, you eliminate all the middle steps and transfer your funds instantly! Saving time is a huge asset, but so is the ability to transfer money in a far more convenient way. And let’s not forget that you’ll never have to carry it around either, which means you’ll never forget it anywhere – another plus!

Safety Comes First

Speed and convenience are great, but arguably the most important benefit in using an ewallet is that they are trusting. Although the online world can be a scary place, when partnered with a credible online payments processor, your digital wallet is extremely safe and completely secure. With carry wallets, you have to always be careful and make sure that they are kept in a safe place. Accidents do happen, and your physical wallet can get lost or stolen; along with it your bank cards, credit cards, as well as your cash. With an electronic wallet, however, you never have to worry about misplacing your wallet or getting your credit cards stolen. All of your stuff is securely stored online and ready to be accessed whenever you need it.
Now that you understand how an ewallet both conveniences and protects you, it might be time to make the switch. If the time is right, when switching from a physical wallet to a digital one, always remember to first research providers (online payment processors) to ensure you find the one that best suits your needs.

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In today's digital marketplace, using a carry wallet can be more of a hassle than a convenience. In order to make quicker and safer transactions, an ewallet is required. Read on to learn more about digital wallets and how they offer you more convenience and online safety!

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