Digital Wallet
A digital wallet is a software-based system that securely stores users' payment information and passwords for numerous payment methods and websites. It enables users to make electronic transactions quickly and securely, often through mobile devices or web browsers, by storing credentials like credit card details, bank account information, and digital currencies. Digital wallets can also support additional features such as loyalty cards, tickets, and identification documents.
Developers should learn about digital wallets to build secure payment systems, e-commerce platforms, and fintech applications that require seamless transaction processing. This is crucial for roles in mobile app development, online retail, and blockchain projects where user convenience and data protection are priorities. Understanding digital wallets helps in implementing features like tokenization, encryption, and compliance with standards such as PCI DSS.