#26unit 2e commerce payment system
Digital wallet
Securely storing payment credentials for reuse.
Unit 2E-Commerce Payment SystemTopic #26Published
Digital wallet
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A digital wallet (or mobile wallet) is an app that stores a user's payment credentials and enables contactless payments, typically using Near Field Communication (NFC). Apple Pay, Android Pay, and Samsung Pay are leading examples; they create one-time digital tokens instead of transmitting real card numbers.
- Define a digital wallet and its primary enabling technology.
- Explain how NFC enables contactless payments.
- Describe how digital wallets use tokenisation for security.
- Compare leading digital wallets (Apple Pay, Android Pay, Samsung Pay).