A digital wallet is a digital version of a traditional or physical wallet. Users can use the digital wallet to perform any transactions such as bill payments, phone recharges, travel/film reservations, and transfer money from one bank account to another, among others. The wallet securely stores virtual versions of debit and credit cards, so you don’t need to enter your card details or carry a physical card at all to make payments. Digital wallets or e-wallets have changed the way consumers pay for different products and services. Digital payments are slowly becoming a way of life and, many economists and scientists believe, have the potential to be the most desirable payment mechanism in the future.