Digital Wallet Technology is most often preferred by smartphones. The reason for this is the comfort of performing our transactions at any time from our smartphones, which are always with us.

1. DIGITAL WALLET TECHNOLOGY
Tuğçe ARSLAN

2. What is a Digital Wallet?
A Digital Wallet is a concept that
can truly live up to its name. It is a
technology that enables consumers to
digitally carry payment tools such as
money and cards. It is mainly used as
a mobile application or cloud system.
Users can carry all debit and credit
cards of different banks and payment
institutions in the Digital Wallet.
This technology turns devices
such as computers and smartphones
into payment tools. The cards in the
wallet are used together with contact-
less payment and NFC technologies
during physical shopping. On the oth-
er hand, the card information defined
in the cloud comes automatically in
online shopping, and instant payment
can be made. In short, a Digital Wal-
let is the virtual version of a physical
wallet.
Is it Safe to Use a Digital Wallet?
In the early days of technology,
there were debates about whether
an electronic wallet was safe or not.
Today, there is always a suspicion of
trust in banks’ card payment systems,
online shopping, and even ATMs.
However, some of the Digital Wallet
brands that serve the consumer are
the initiatives of banks.
A Digital Wallet is highly secure if
used correctly. First of all, it should be
ensured that e–wallet service is ob-
tained from an approved and autho-
rized brand that has obtained the nec-
essary permissions. In addition, since
the payments are completed without
a password, computers, and phones
that can access the wallet should be
used carefully.
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3. What Does a Digital Wallet Do?
A Digital Wallet replaces money. Thanks to this technology, there is no need to write cash,
credit card, or card numbers. Instead, digital technologies can make payments using cards
previously defined in the application. In addition, the Digital Wallet allows you to accumulate
cryptocurrencies and even pay with cryptocurrencies. Therefore, this technology is also a candi-
date to become one of the most preferred payment methods globally.
What are the Benefits of Using a Digital Wallet?
A digital passbook has many benefits for consumers. It has quickly become widespread
because it is practical, convenient, and safe. Big brands such as Google and Apple offer wallet
applications are one indicator of this technology’s usefulness.
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4. In addition, e–wallets offer significant advantages not only for consumers but also for e–com-
merce sites. Examples of the benefits of a Digital Wallet include:
• Eliminates the risk of cards being lost and stolen.
• Income – expense transactions can be followed practically.
• All owned debit and credit cards can be viewed from a single application.
• It makes it possible to make crypto money transactions practically and securely.
• Information about total assets can be obtained with the balance of each card separately.
• Thanks to contactless payment and NFC technologies, payment transactions are completed
quickly.
• There is an opportunity to benefit from special discounts and campaigns offered by the Wal-
let application.
• Thanks to its robust encryption infrastructures and verification systems such as fingerprint and
PIN, it is highly secure.
• E–commerce sites can more easily analyze consumers’ purchasing habits using digital wal-
lets and organize unique campaigns in this way.
• There is no need to enter information such as card number, expiration date, security number,
and verification code in online shopping. One–click payment is possible.
• Thanks to e-wallets that support international payments, shopping can be made from
abroad. In addition, e–commerce sites can also receive payments from abroad with this
method.
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5. ANUMAK & COMPANY
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Chief Executive Officer,
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