(1) To completely erase data from memory (RAM) or a storage device (hard disk, SSD).  See 
file wipe.
(2) A digital video effect that places one image over another.  Although there are a myriad varieties, the classic wipe is a scene transition where the next scene slides horizontally or vertically over the current one.  Another common wipe is the circle wipe.  A small circle that contains another scene starts to grow in the middle of the current frame and gradually fills the entire frame.