What is Digital Wallet in Retail? Explained

A digital wallet in the retail sector is a virtual tool that allows consumers to securely store, manage, and use their payment information for online and in-store transactions. Also known as e-wallets, digital wallets enable users to link their credit or debit cards, as well as other payment methods, to a digital platform or mobile application. This streamlined method of payment offers convenience, quick transactions, and enhanced security. Popular digital wallets include services like Apple Pay, Google Pay, and various others, providing a seamless and contactless payment experience for modern consumers in the evolving landscape of retail payments.