A digital wallet (or e-wallet) is an application on a smart device (like a phone or watch) that securely stores virtual versions of your credit and debit cards. It allows you to make contactless payments in stores using NFC technology, as well as faster checkouts online. Apple Pay, Google Pay, and Samsung Pay are popular examples.
Frequently Asked Questions (FAQs)
- Can I accept payments from digital wallets with Charge for Stripe?
Yes. Payments from Apple Pay, Google Pay, and other digital wallets are processed using the same NFC technology as physical contactless cards. When a customer wants to pay with their phone, you use the Tap to Pay function in the app. - Are digital wallets secure?
Yes, they are extremely secure. They use tokenization, meaning your actual card number is never shared with the merchant. Instead, a unique, encrypted token is used for the transaction. Additionally, they require authentication (like a fingerprint, face scan, or passcode) to authorize a payment. - Do digital wallets cost extra to accept?
No. Transactions made using digital wallets are treated as standard Card-Present transactions, so there are no additional fees for accepting them.
Related terms: