Done, your profile is created.Finish your profile by filling in the following fields
Forgot Password Earn Money,Free Notes
Password sent to your Email Id, Please Check your Mail
Updating Cart........ Please Wait........
How the E-Wallets works? And what are the advantages of E-Wallets
An Electronic Wallet is any device or software which allows a user to store, manipulate. ewallet how does it work | Download free pdf
What is E Wallet
• An Electronic Wallet is any device or
software which allows a user to store,
manipulate, and pay with various types of
payment instruments such as electronic cash
and credit cards. They make it unnecessary
to retype credit card numbers and addresses
each time a purchase is made.
• Most EWallets are software programs that
run on a user’s personal computer.
• Soon they will be integrated into a variety of
devices, such as cell phones and PDAs.Definition of E Wallet
Hold credit card numbers, electronic cash, owner
identification, and contact information.
Give consumers the benefit of entering their
information just once.
Make shopping more efficient.
A Digital Wallet (also known as an ewallet) allows
users to make electronic commerce transactions quickly
Why Need Comes
▸ Thick, bulky, unmanageable physical wallet.
▸ Finding particular items is time consuming.
▸ Evocating a lost wallet is extremely hard.
▸ Managing multiple monetary and identification implements is not
▸ Monetary implements include cash, debit and credit cards, and
stored value cards while identification includes national or state
identification cards and driver’s licenses.
▸ Reducing the chance of theft by having only one item to manage.5
Types of Electronic Wallet
Server side Client side
wallet walletTypes of Electronic Wallet
Server Side Electronic Wallet
A server side electronic wallet stores a customer information on the remote
server belonging to a particular merchant or wallet publisher
Client Side Electronic Wallet
A client side electronic wallet stores customer information on his/her own
Many of the early electronic wallet were client side wallet that require users to
download the wallet software.7
How it works
▹ Sender Mobile sends request to Transfer Money.
▹ System checks available balance in Sender’s A/C from
that particular Bank.
▹ It transfers money from senders A/C to receivers A/C.
▹ After a successful money transfer it sends a confirmation
notification (SMS/Email) to receiver.
▹ Money can be send and/or receive from PayPoints.8
Example For Transaction9
HOW TO SUPPORT CASH TRANSFER
▸ Place cash in the digital wallet either by :
a) Toppingup the cash on device at specific topup machines
which are integrated with existing automated teller
b) Online by logging into bank’s online portal and
transferring cash into phone.
▸ Transferring that cash to a retailer or another digital wallet by
using NFC (Near Field Communication) .10
Secure Communication Medium
• New NFC (Near Field Communication) chipsare already
appearing in smart phones which provide very close range, low
power, easy to setup up pointtopoint communication.
• NFC acts as the communication medium for exchanging monetary
and identiﬁcation information, such as credit card numbers and
receipts, with other devices.Technology
Fast Secure Authentication and Secure Tamper Proof
• Secure programmable chips in cell phones will allow the cell phone to
securely store both “digital cash” and the phone owner’s monetary and
• This assumes that the cell phone owner secures his digital wallet with a good
password. This chip will ensure that thieves are unable to access the digital
wallet embedded in the stolen phone. Biometric scanners could also be
integrated into cell phones and used for quick and easy authentication.13
How it is Being Used Right Now in India After
Demonetization of Money
There are many different companies offering EWallets.
Although each one is a little different, they all perform the
same basic tasks. Some of them are:
Paytm is a Payment Gateway to facilitate Indian e
Owned by One97 communications.
The company is headquartered in Noida.
Paytm entered India's ecommerce market in 2014.
Focuses on mobile and DTH recharge.
It gradually provided recharging and bill payment of
various portals including electricity bills, gas bills, as
well as telephone bills.15
Mobikwik is India’s most convenient mobile wallet online
payment system for shopping, mobile recharge, DTH recharge,
money transfer bill payment.
Bipin Preet Singh, Upasana Taku is founder of Mobikwik.
launched in 2009.
25 million users across country already bestow their trust on us.
Company’s Head Quarter in Gurgaon.
Parent one Mobikwik system private limited.
Use Mobikwik for cashless, hasselfree experience while
Shopping, Dining, Travelling a lot more16
‘STATE BANK BUDDY’ shall means mobile wallet service of
bank and include the service over the applications.
SBI Buddy launched by sh. Arun Jaitely honorable Union
Minister Of Finance.
In the presence of sh. Jaynta sinha (minister of state for finance).
State Bank Buddy – Mobile Wallet.
Available in 13 language.
launched on 18 August, 2015.
Provide freedom to send money to Anyone, pay bills, recharge
mobile DTH, flight bus tickets.17
Free Charge is a e commerce web site.
Launched on August 2010.
Founder kunal shah
Head Quarter in Mumbai.
Present owner Snapdeal
It provides online facility to recharge any
prepaid mobile phone in India.
The amount paid by the user for recharge
is returned in form of shopping coupons of
some of the top retailers in India, thereby
making the recharge virtually free.18
After Demonetization Effect on E Wallet
After demonetization of money on 8 nov,2016 in India there is a big change in
Huge number of people use e wallet marketing in that day.
Due to that reason ERP of e wallet marketing is increase.
A lot of shopkeepers, Shoemakers, Tea stall, Xerox shops used paytm and
others EWallet like Free Charge, Mobikwik, pocket by ICICI and SBI bank.19
After Demonetization Effect on E Wallet20
After demonetization effect on EWallet
Top Mobile Payment Apps
(time spent by
Another Example of E Wallet
• Android Pay
• Apple Pay
• Digital currency
• Google Wallet
• Lemon Wallet
• Samsung Pay22
More than 40 years of data retention
Firewall encrypted security logic
Compatible with many supporting hardware.
No separate card reader is required to access our card Polarity
reversal indicator is prebuilt in our card.
Reusability of our card is unlimited.
Multiple card features are incorporated in the same card.
External complexities are less.23
Ease of use:
Safety and control:
• Withdraw or deposit
value by telephone.
• Spend only what you
• Pay the exact amount, no
fiddling for change.
• Read your balance.
• No signature required. Accessibility and
• Immediate payment .
• Load value at home.
• Lock your card or wallet.
• Cash machines and
• Keep track of what you
telephones give more
• Transfer value by
telephone. have spent and where. access points to funds in
• Pay person to person.
• Customer is traceable if
• For low or high values.
• Available 24 hours / 365
a lost card is found.
• No age limit, so suitable • Cash machines and
for all the family.
telephones cannot run out
of electronic cash.24
▸ System outages: information foe E wallets are stores on the cloud of
business server, therefore the risk of system malfunction or shut down
is always present.
▸ Security: companies must ensure that their customers information is
encrypted and well protected.
▸ Investment: The initial investment for building a functional E wallet
application is quite large as it requires the development of the soft
ware as well as continual maintenance.25
ECommerce adoption and transaction completion rate.
Easy money transfer between accounts and people.
Security with payment gateways that authorize credit card or direct
Gathering and using demographic data. Premarketing product
Foreign money exchange, business to business transactions, online
Mass Market Appeal
Ensuring a mass market appeal for the digital wallet is important to
leverage scale economies and the network externality effect. One way
to increase the mass market appeal is to make the digital wallet usable
for all daytoday transactions.
Stake Holder Dynamics
Satisfying the business and strategic goals of multiple stake
holderssuch as banks, retailers, regulatory bodies, is difficult.
Compelling user experience
A userfriendly wallet interface, easy to use and intuitive is
difficult to produce.27
You can find us at queriesthesisscientist.com