With bank transactions increasing every day, people are using their cards to pay. Nowadays, a normal wallet will have 3-4 cards which are kept for online and offline transactions. The introduction of Digital Wallet will open its door to the mobile payment services directly linked to the bank or online payment systems like Paypal, Google etc.
The technology behind the Digital Wallet is NFC (Near Field Communication). A proximity sensor with an unique identifier, identifies a specific terminal (smartphone) and consequently by a specific app in the device to interact with payment systems of the seller. By using this technology, we no longer have to carry a wallet in one hand and a mobile phone in the other.
With this technology, it becomes so much easier to maintain accounts since everything is there on your phone. It also allows you to auto track your deals which makes it easier to share with your friends and family.
Through Digital Wallet, we can integrate social media tools like Facebook, Twitter, Foursquare which makes it easier for people to share opinions and rating about various things you buy.
It also will introduce tracking of each and every buy you make. Therefore making you avail coupons and reward points easily.
Welcome to the real Web 3.0, or if the digital and physical interaction will be one.
Original article: iMagzine