What does 'E-Wallet' refer to in a payments context?

In the context of payments, an 'E-Wallet' refers to a system that facilitates electronic payments and transactions. This digital wallet allows users to store their payment information, such as credit card details, bank account numbers, and other financial data securely online. E-Wallets enable consumers to make purchases via mobile apps or websites without the need to enter their payment information each time, thus streamlining the payment process and enhancing convenience.

E-Wallets also support various functionalities such as peer-to-peer payment, online bill payments, and in-store purchases via QR codes or near-field communication (NFC). They can be used across different platforms and are often integrated with loyalty programs, making them versatile tools for consumers in managing their spending and enhancing their shopping experience.

The other options, while related to financial technology, do not accurately capture the broad utility of E-Wallets. For example, focusing solely on cryptocurrency, as suggested in one option, disregards the multiple forms of currencies E-Wallets can handle. Similarly, a physical wallet with RFID technology pertains to tangible items rather than digital transactions, and an online banking portal describes a specific interface for managing bank accounts rather than encompassing the versatile capabilities of E-Wallet functionalities.