As a tech blogger, I can explain that both mobile and digital wallets serve the same purpose of storing financial information, such as credit card details. However, there are some key differences between the two.
A mobile wallet is a type of digital wallet that is specifically designed to be used on a mobile device. It is typically accessed through a dedicated app installed on a smartphone or tablet and can be used to make in-store purchases by holding the device near a contactless payment terminal.
On the other hand, a digital wallet is a broad term that encompasses any type of wallet that stores financial information digitally. It can be accessed through a variety of different devices such as smartphones, tablets, laptops, and desktop computers. Digital wallets offer a variety of different functionalities including sending and receiving money, storing loyalty cards, and even storing digital versions of government-issued identification documents.
In summary, while both mobile and digital wallets store financial information digitally, mobile wallets are specifically designed for use on a mobile device and are typically focused on making in-store purchases through contactless payments, whereas digital wallets offer broader functionalities across a range of devices.