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A Study On E-Wallets
A Study On E-Wallets
Submitted by :
T. Sanjay
Reg no. 191811208
What is an E-Wallet ?
▪ The term digital wallet has been applied to diverse forms of electronic payments
▪ Mobile wallet has many significant features like anytime transfer, mobile transfer, secure and
convenient transfer of money.
▪ A customer can pay for services by having preload money without authentication process.
• Open Wallet : These are the wallets which allow buying goods, withdraw cash at ATM’s and
transfer funds.
• Semi-Open wallet : Customers cannot withdraw cash but can spend only what customers
have loaded.
• Closed Wallet : When customer money is locked may be due to order cancellation, return of
goods and gift cards, these companies permit customers to use blocked money for
merchandising.
• Semi-Closed Wallet : It will not allow customers to withdraw cash or redemption but
permit the customers to buy goods and services at listed merchants and do financial
transactions.
Working of Digital Wallets
Business model of Digital Wallets
Fast service
Convenience
Cash back offers and Discounts
Instant availability
Utility of innovation
Disadvantages of Digital Wallets
Network connectivity
Security threats
Lack of technical knowledge
Lack of availability
Hardware issues
Failed transaction
Conclusion
• People are using a few services mostly fund transfer, bill payments and recharges etc.
• As of now there are more than 100 mobile money developments in emerging markets and 84% of them
originated in the last three years.
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