Still we don't know a lot of things about the digital wallet. Lets just learn top 10 important tips about digital wallet:
- A small group f tech companies taking care of online business. One of the top three companies that are leading are the web giant Google, Amazon, Apple. Their motivation is to take the digital world to the next level. Google has introduced us its first Google wallet years ago that can be used through smartphones for online payments. The technology behind it is called near field communication which turn the smartphone into a contact-less card.
- Now what about the shop where this digital wallet payment system is not available yet ? well Google is smart enough, so they already have a different way , Google external card coin that allow you to process your online payments. If the shop allow you to use Mastercard then you can use your Google coin their.
- Next summer $100 coin card will be available for public use. This card will have all the option just like the other credit card offers. So, how it works ? first, it will scan the magmatic stripe from any debit or credit card (Mastercard), Now it will show a virtual scanned magmatic stripe behind the digital wallet. Just by pressing a button you can pay your payments using the coin card.
- One of the top popular micro blogging website Twitter founder Jack Dorsey has developed a new company named Square (merchant service). which offers a mobile payment method using audio connection jack or headset jack. The shops using this method can easily take their payments from customers just by swiping the jack in customer's smartphone.
- Google wallet card, coin or square is only limited for USA. UK has already processing the chip and pin system for Europe.
- The chip and pin system is available in Stockholm Sweden.Shops that uses Izettle payment system allow you to pay through your iPhone or iPad by using their app. But the method is too expensive. Paypal and Square Stripe is free, and compare to them Izettle chip is around $100.
- The contact-less method has been introduced in 2011 but still people are not use to it.So, smartphone with contact-less users are less in United States.That is why all the digital wallets are connected directly to user's bank account.
- Some suspect Apple has a plan up its sleeve: a combination of its vast horde of credit card data, Touch ID fingerprint scanners and new iBeacon technology for short-distance communications could create a fearsome competitor.
- The Bitcoin is a system which allows you to do anonymous currency transactions and no one will come to know about the payment or about all other info related to the payment, including who sent it, who received it, etc.Satoshi did it by making the system a peer-to-peer network controlled by no central authority but run by a network of contributors and freedom enthusiasts, who donated their time and energy to this innovation. Essentially, people can do money transactions and no authority or organization will come to know about it.Satoshi Nakamoto was so talented that he even solved the problem of double spending of digital currency in his system.