What is a Digital Wallet, and How Does it Work?

What Is a Digital Wallet, and How Does It Work?

For many, carrying a large bulky wallet can be a source of inconvenience and even physical discomfort. For this reason, many are turning to digital wallets to replace their traditional billfold wallet. While we still need wallets to store driver’s licenses, insurance information, or other identification cards, digital wallets have made the need to carry a thick bulky wallet a thing of the past. With digital wallets, payment methods can be stored digitally, and the result is not only a more convenient payment process but also a thinner wallet. Below, we’ll discuss more how a digital wallet works so that you can discover the best digital wallet to fit your needs.

The Types of Digital Wallets

There are different types of digital wallets, client-side and server-side. The main difference between the two is that you maintain client-side wallets as the consumer, whereas server-side wallets are controlled by the company or payment gateway on their servers. Client-side digital wallets give users complete control over their payment options while offering a streamlined approach that makes online shopping faster and more convenient than ever.

How a Digital Wallet Works

With these types of client-side digital wallets, you install your application and then input all your payment and shipping information. This information is stored locally on your computer or device, and when you visit a website to make a purchase, the data is then drawn from the digital wallet and completed for you. As a result, online shopping becomes faster and more convenient than ever. As an added benefit, digital wallets also help you integrate security into the online shopping experience, by relying on digital certificates for authentication to verify your identity for online purchases.

Qkey: A Unique Digital Wallet for Your Online Shopping Needs

At uQontrol, we believe that privacy is a fundamental human right. Digital wallets are the wave of the future and one of the best ways to ensure your privacy in today’s digital age as you shop online. At uQontrol, our Qkey client-side digital wallet uses the power of encryption technology to bring you an online shopping experience that is more secure and streamlined than ever. Our digital wallet not only eliminates the need to rifle through your wallet to find your credit cards, but the keys used to encrypt and decrypt your data are secure and never accessible by the Qkey. This means that your payment information is safe for every transaction. We put you back in control of your online shopping experience, allowing you to experience total security every time you complete an online transaction. Contact us today to learn more about how our digital wallet can give you the best online shopping experience.