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Here E-Wallets

Jennifer Hart

1
Why We “Need” E-Wallets
For frequent online shoppers, it becomes a
hassle to fill out order forms with the same
information on them for every item you
purchase. Wouldn’t it be nice if this
information could be handled automatically
for you?

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What E-Wallets Are
 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 E-Wallets 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. 3
Choose Your Wallet
 There are many different companies offering
E-Wallets. Although each one is a little
different, they all perform the same basic
tasks.
 The following companies offer software:
Gator
eWallet
Qpass
BuyWiz
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Positive
 The easier your site is for customers to
purchase items, the more they will buy
 Buyers don’t have to type in repetitive
information.

5
Negative
 Some eWallets only work with certain
browsers.
 What happens if your disk crashes?
 Some say this service rarely works

And what about security???????

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Security
 Your information is protected with a password
that you choose. Then when you shop at an
Internet store the site will prompt you to select
a payment method from your wallet and to
authorize it by typing your password.
 Many newly released E-Wallets will use a
new standard called the Electronics
Commerce Modeling Language (ECML) that
will work with any web security software.
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Questions

What is an electronic wallet?

Name a company that offers this service?
What is one advantage to having an e-
wallet?
What is one disadvantage?
What kind of security is offered for this
service? 8