Digital Wallet
Digital Wallet
A digital system that stores money and card information on your smartphone, so you can pay without a physical wallet.
In Simple Terms
A digital wallet lets you make payments and present tickets using just your smartphone. Once you register your card details, you can shop by simply holding your phone up to a payment terminal. You can also use it as a transit pass instead of a physical ticket, or consolidate scattered loyalty cards all in one place.
Behind the Name
'Digital Wallet' combines 'digital' (relating to digital technology) and 'wallet' (a holder for cards and cash). The name reflects the idea of keeping all your credit cards, loyalty cards, and digital money together inside your smartphone.
Take a Closer Look!
A digital wallet is a system that converts information such as money, credit cards, and IDs into digital data and stores it on a device like a smartphone, so you can carry it wherever you go.
With it, you no longer need a bulky physical wallet — your smartphone handles payments and identity verification smoothly.
There are three main types of information it can handle, each protected by different mechanisms.
For card payments, some services like Apple Pay and Google Wallet use a device-specific number combined with a one-time code for each transaction, so the actual card number is never shared with the merchant.
Tickets and boarding passes use a specially signed digital format that cannot be forged, while IDs are stored with encryption and verified only at the moment of presentation.
Digital wallets serve as the foundation for consolidating your everyday essentials into a single device, letting you move through daily life with ease.