eWallet

An Electronic-wallet (e-wallet) is an electronic application that is preloaded with currency by the user. They are designed to be convenient over the traditional-wallets, enabling online e-commerce transactions like purchasing goods, paying utility bills,  etc.,. A plethora of these e-wallets are provided online for downloading through “apps” to support both point of sale transactions and peer-to-peer transactions between individuals.

It is necessary digital users are aware of uses, threats and safe online practices to be followed while using E-wallet.

E-wallet or Electronic wallet usage offers many benefits 

• Convenience and simplicity in usage
• Easy and quick access to users' details 
• Wide range of uses enabling various transactions
• On time hassle free payments with autopay option
• Security as a mobile wallet cannot be stolen like a physical wallet
• Discounts, reward points, and incentives that can save money

E-wallet usage is not devoid of security threats and the digital users should be aware of these dangers to counter them appropriately.

Some of the common E-wallet threats include-

• Impersonation, SIM swapping

• Man-in-the-middle attack and Phishing

• Malware Attacks

To avoid the possible E-wallet usage threats and stay safe online it is necessary that the digital users become aware and use cerain safe online practices. 

These best online practices include -

• Enable Passwords On Devices
• Use Secure Network Connections
• Install Apps From Trusted Sources
• Keep Login Credential Secure
• Create a Unique Password for Digital Wallet
• Identify Points of Contact in case of Fraudulent Issues