What is a digital wallet also known as?

A digital wallet is commonly referred to as an e-wallet. This term emphasizes its function as a digital version of a physical wallet, where users can store their payment information, such as credit card details, bank account information, and currency, in a secure electronic format. E-wallets facilitate online and mobile transactions by allowing users to make payments easily and quickly without the need for traditional cash or cards.

The term emphasizes a range of digital financial services, which allow users to conduct transactions over the internet or via mobile devices. Additionally, e-wallets often incorporate various features, such as loyalty programs and transaction histories, enhancing the overall user experience in digital commerce.