A digital wallet is a device or application that allows you to make electronic payments and other transactions.
If you’re the kind of person who often finds you forgot your wallet at home when running errands, you will love the concept of a digital wallet. A digital wallet, also known as an e-Wallet, is a device or application that allows you to make electronic payments.
But a digital wallet doesn’t just store banking and credit card information. You can also save your airline or train tickets, subway or high-speed rail passes, movie tickets, insurance cards, ID, gift cards, loyalty cards, and more.
A digital wallet is much safer than your physical wallet as it uses encryption software. The only thing it can’t do is help you if you’re prone to leaving your smartphone behind when you go out.
ZITY, a joint-venture between Renault Spain and Ferrovial Services, is an electric car-sharing service that uses a free app with a digital wallet built into it.
Users can rent electric vehicles by the minute within the city of Madrid using their Android or iOS smartphone. Not only can they reserve the vehicle, but they can open the door, and mark the beginning and end of their trip. No key or deposit is required.