Recently, the number of transactions through electronic wallets has increased significantly. Using a digital wallet is very convenient – you do not need to take bank cards with you. Financial transactions can be carried out directly through the application. Contactless payment is carried out using NFC technology. It is enough just to move close the device to the terminal for a second, and the payment will be debited.

The electronic payment sector is growing steadily. Global digitalization makes the process of financial interaction easier and more efficient. Previously, to transfer large amounts of funds, it was necessary to engage a separate collection service. Now this is much easier to do. It is enough to use the banking application. Using the appropriate application, you can transfer a substantial amount of money to anywhere in the world without commission.

E-wallets offer a wide range of features. Starting from paying utility bills, ending with the purchase of real estate, land, or booking tickets, parking spaces, hotels.

Digital wallet from WalletFactory for e-commerce (https://walletfactory.com/en-us/industries/fmcg-e-commerce) makes the online shopping process faster, easier, more efficient. According to the solution terms, cashback can be credited. The percentage of refund depends on the type of goods. For proper operation, digital wallets are linked to bank cards. You can use both debit and credit cards. WalletFactory develops digital solutions for various tasks and they can integrate NFC mobile payments into your infrastructure

How it works

E-commerce is developing rapidly. Digital wallet () is an effective and convenient tool for paying for services and goods. It is worth noting that, according to approximate data, there is a base of 2.1 billion users of electronic wallets in the world.

NFC mobile payments are very convenient. Contactless payment reduces the amount of cash in your pocket. Hence, there’s much less chance of losing money. Money can be transferred to any banks in the world in a short time frame. And still, the commission will not be large – it depends on the bank that issued the card.

Using NFC mobile payments is easy:

• you need to link a bank card to the application;
• use a special utility, for example, Google Pay, Apple Pay;
• find a terminal that supports NFC technology;
• attach your smartphone to the reader, and that’s it, the payment is made.

Information on the card is encrypted with special technology. Therefore, hackers will not be able to get access to the data.

Advantages:

• security;
• speed;
• cashback;
• no commissions;
• You can store any amount of money on a digital wallet.