What Are E-Wallets And Why Is It Important In Current Scenario?

Following demonetization by government the use of currencies came down drastically. Right from shopping at big shopping malls to small scale vendors people started to use digital options. A number of e-wallets came into picture which offered people some of the easy ways to manage and transfer money without any hassle.

So what is e-wallet?

E-wallet is an arrangement of online prepaid payment system where a person will be able to add in some money and then use it when and as required. In such kind of facility, customers will be able to shop for a number of things, pay utility bills, book train or airline tickets and do much more. You can carry out all these activities without having to use a debit card or credit card.

Importance of E-wallets

It is a proven fact that e-wallets are the best way to go cashless and make spending money easier without having hard cash. Different countries across the world have understood the importance of e-wallets and many of them have applied using them too. The use of mobikwik coupon codes has increased in India with the increased of this e-wallet.

They are accountable

With the help of e-wallets it becomes easy to trace transactions completely. Every money spend or received will be mentioned in the e-wallet statement and you will be able to check it anytime. Here cash transactions are easy as there are lesser security layers like banks.

Instant transactions

Compared to e-banking facilities available in the market, e-wallets are smooth and help in fast transactions. For banks they deal with larger transactions which consumes a lot of time while eWallet carry out smaller transactions and with lesser security layers. This makes transfer of money easy and that too within lesser time.


This system is much safe compared to banks. This is because mostly people put in a few amount of money in the wallet which they need for coming few days. This means there is a very low risk of loses in case your account gets hacked or you lose your account for some unforeseen circumstances. This means you can use the e-wallet without having to worry about losing larger amount of your life’s savings.

Better customer response

Most of the banks follow a standard working hours and it is not possible to get response in case you don’t fall into it. For some serious issues you will need to take some time out of your day and walk into bank to get your issue solved. With e-wallet you will not be left behind. They offer a seamless communication channel which can help you stay connected and get answers in case of any query.

Good discounts

Most of the e-wallets these days offer good discount on a number of products as well as bill paying services. This means it becomes easy to save a few bucks when you choose to use such e-wallets to pay bills or recharge your mobile service. It is even possible to find such deals on LatestIndiandeals.in with ease. You can then use them on e-wallets when shopping.

The market of e-wallet is going to stay in here for quite a long time. They have proved to be easy and seamless for people and this makes it the best way to transact money.

@Technuter.com News Service

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