Digital Wallet

A digital wallet is an electronic system that securely stores payment information, personal identification credentials, and other sensitive data used for financial transactions. It allows users to make cashless payments through mobile devices, computers, or wearable technology without needing a physical card or cash.

Key features typically include:

• Secure storage of debit/credit card details, loyalty cards, and personal identification.

• Contactless payment capabilities via QR codes, NFC (Near-Field Communication), or online platforms.

• Peer-to-peer transfers and bill payments.

• Integration with digital banking services.

Digital wallets have become a core component of modern financial ecosystems, especially in regions with advanced fintech infrastructure like the UAE.