E-wallet

Same as digital wallet and eWallet. The electronic equivalent of a wallet for e-commerce transactions. A digital wallet (e-wallet) can hold digital money that is purchased similar to travelers checks or to a prepaid account like an EZPass system, or it can contain credit card information. The wallet may reside in the user's machine or on the servers of a Web payment service. When stored in the client machine, the wallet may use a digital certificate that identifies the authorized card holder. Microsoft's Passport and Yahoo! Wallet are examples of digital wallets. eWallet is a system that stores a customer's data for easy retrieval for online purchases. Since completing forms as part of an e-tail transaction can be a reason for aborting a transaction, an eWallet service can reduce this inconvenience for the consumer.