Online wallets have become increasingly popular in the tech-based modern world that we now live in. A convenient way of conducting transactions on smartphone, computer or through using a tablet, online wallets save consumers a great deal of time. For example, more traditional methods require shoppers to insert all of the digits of a credit card, plus the expiration date and security code, therefore making the process last a great deal longer than the instant transaction an online wallet offers.
Digital wallets have shown dramatic growth in recent times in particular, with people around the world being stuck indoors due to the COVID-19 pandemic and therefore needing a fast, safe and effective way in which they can shop online. This perhaps is best highlighted by a recent survey from Chase which found that 47% of respondents started or continued to use contactless payment options in 2021 to avoid physical interactions amid the pandemic. Alongside this, the convenience of online wallets appealed to 73% of those surveyed.
With the global population become less reliant on cash and many land-based and online shopping options now catering for digital wallet payments, they’re expected to grow even further in the near future. Even online casinos now accept Apple Pay, therefore allowing gamers to fund an account and claim any winnings with ease. In fact, the amount of Apple Pay casinos you can find online is quite remarkable. Apple Pay isn’t the only option, though, but it is certainly one of the most popular online wallets in 2022.
The benefits of using Apple Pay
After its launch in October 2014, the buzz around Apple Pay has grown year on year. Supported on Apple devices such as an iPhone, Apple Watch, Mac, iPad, as well as working through Safari browser, Apple Pay is now being used by millions of consumers in 20 countries around the world. As well as offering the fast, convenient and hassle-free transactions people require these days, using online wallets like Apple Pay also offer enhanced security. Apple Pay has essentially been designed with privacy in mind, therefore including security features that have been built in to both the hardware and software of any devices which are compatible with the service. Many of the features included make it increasingly hard for cybercriminals to access any details also, therefore giving many consumers the peace of mind they want when shopping or playing games online. Other prominent online wallets include Google Pay and Samsung Pay.
Will credit cards and real cash soon become obsolete?
It’s perhaps unlikely that credit cards and real cash will soon vanish due to the rise of online wallets, although they certainly represent an excellent alternative in a modern-day society that tends to want fast transactions. Ultimately, though, people still need access to credit cards and cash to pay for goods and services in many instances. Older consumers, who are perhaps not as tech-savvy as other age groups, tend to favor more traditional methods of payment also.
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