Digital wallet

Under Cyberwallet or e-wallet is defined as a diffusive method of payment on the Internet. The English word wallet in German means purse, wallet or purse - accordingly, one can imagine an electronic wallet, an " e-wallet ". The user of e-wallets invites its virtual wallet on a determination of which sum, which is through his preferred method of payment, depending on the allowed methods from the manufacturer. Most often, the credit card payment occurs, but also transfers or direct debits are possible. In rare cases, telephone transactions may be executed.

Application

With the money that is then " e -wallet " of the user, can be purchased in different online shops or portals. This payment method is most common in online casinos, online betting, game portals and among others the fee-based reading articles from magazines, because it is here to smaller amounts of money. Often you pay in a specific currency of the e-wallet provider. A credit card use in cases with a low sum of money is not economical, so e-wallets allow traders to more cost-effective transactions. The users of e -wallets are often same-day payments and transfers offered without having to establish a direct database connection.

Security

Most providers work with 128 -bit SSL encrypted transmissions. Since the virtual wallet with money "charged" was, it is no longer necessary to specify each example, the data of the credit card. Thus, the risk of abuse is less than with a direct credit card payment, because the user can immediately lose only the amount that is in its Cyberwallet.

However, since personal information such as shipping and billing address, and credit card data outside the Cyberwallet still remain stored in a database of the provider, the user, the residual risk of misuse is not spared in this process.

Future of e-wallets

The future of e-wallets is for international use, as they among themselves also allow users quick and easy transactions. This could be used in the future when the auction transfers and commissions as an alternative to the usual international transfers. How could an American auctioneer easily transfer money, for example, a European bidder.

Incumbents

Well-known provider in the German market are other ClickandBuy, FidorPay the Fidor Bank AG and ' iclear '. Among the most internationally renowned providers counts PayPal.