Digital wallet

How it is used

Used in payments and product teams. Customers add a card to a digital wallet, top up the wallet and pay in shops or online. Some wallets only store card details; others hold their own balance as e-money.

Example sentences

1. You can add your new card to your digital wallet straight from our app.

2. More of our young customers pay with a digital wallet than with a physical card.

Common collocations

• add a card to a digital wallet
• digital wallet payment
• mobile wallet
• e-wallet

Related terms

• contactless paymentPaying by holding a card, phone or watch near a card reader, without inserting the card or, for small amounts, entering a PIN.
• top upTo add money to a prepaid card, digital wallet, mobile phone or account so that its balance increases.
• fintechShort for financial technology: technology that improves or automates financial services, and the companies that build such products.
• mobile bankingUsing a bank's app on a smartphone or tablet to check balances, make payments, transfer money and use other services.

This word in other fields

The same English word can have a different meaning in another field:

• digital wallet · E-commerce

More terms: Fintech & Digital Banking

• online banking
• open banking
• buy now, pay later
• neobank
• instant payment
• OTP
• phishing
• two-factor authentication
• virtual card
• onboarding
• QR code payment
• e-money