HONG KONG, June 7, 2017 /CNW/ - International trade evolves at a rapid pace, and the customers seek the most convenient payment methods. One of them, the digital wallet, has been gaining popularity. What are the reasons behind this, and why may eWallets be the payment method of the near future?
One of the core features of eWallets that draws businesses and people is their pure convenience. Whether customers make online payments, or use their smartphones to pay in traditional, brick and mortar stores, having a ready access to an online wallet solves a number of potential problems or complications.
First of all, it saves a potential customer the trouble of providing credit card details every time, or else entrusting them to the store for future reference. eWallets protect customers' peace of mind and save their time at every transaction. In a physical store the only thing that's needed is tapping the terminal with a mobile phone using the application version of the buyer's chosen digital wallet.
In some cases, this payment method may also be beneficial to the customer when they are paying in a currency different from their native one. Digital wallets may make travelling abroad easier. One such example is G2A Wallet, which converts funds into Coins of equivalent value and handles the currency exchange at rates beneficial to the user.
Another aspect which draws a growing userbase is easy and quick online money transfers, especially between users of the same provider. Processing such transfers takes a very short time, compared to typical bank transactions. This is especially true when a given eWallet is part of a system initially designed to complement a retailer's or marketplace's needs. Such is the case for Amazon Pay, G2A PAY, or Apple Pay, each of them has a broader application, but the primary function is to serve sellers and buyers within each of these platforms.
These features make online wallets very likely to become a preferred payment method in developed countries in the foreseeable future. Following the developments in this method of payment may be worthwhile to online retailers and payment service providers seeking to expand their businesses.
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