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Definition: digital wallet

(1) An application that holds a user's crypto or fiat currency. See crypto wallet and CBDC.

(2) A smartphone app for making financial transactions in a retail store. See smartphone wallet, Bitcoin wallet and mobile payment service.

(3) A desktop app for making credit card purchases on a website that eliminates entering credit card numbers. The data either reside in the cloud or are encrypted in the user's computer, and the wallet's digital certificate identifies the cardholder. Digital wallets may also store insurance and loyalty cards, drivers' licenses, ID cards and site passwords. Some apps let users enter additional data.

Merchant Wallets
To make ordering painless, large e-commerce sites such as Amazon.com have for years stored their customers' credit card data on their own servers. See smartphone wallet, mobile payment service, Web payment service, eWallet, identity metasystem, information card, digital coins and Bitcoin wallet.

Automatic Fill-in-the-Forms
This earlier digital wallet saved the user's name, address and credit card data. When placing an order online, it filled in the forms. (Image courtesy of EntryPoint, Inc.)

An eWallet Card
Available for many years on all popular platforms, Ilium Software's eWallet stores all pertinent information for each credit card entered by the user. See eWallet. (Image courtesy of Ilium Software, Inc., www.iliumsoft.com)