digital wallet applications

26 May 2023

5 things to know about digital wallets

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What is a digital wallet?

A digital wallet is an online service that lets you make payments or money transfers. Like your real-life physical wallet, you can add debit or credit cards, which you can use to top up your balance.

A digital wallet can be used via a mobile app or from your desktop to shop or spend online in a secure and easy way.

Setting up your digital wallet is easy. You simply need to download the app onto your phone or sign up from your computer.

You can fund your wallet in a variety of ways, including by card, bank transfer, and alternative payment methods.

using digital wallet

What a Skrill account has to offer:

  • Instant payments and money transfers
  • No need for a credit card or bank account
  • A loyalty program where you can redeem points for credit in your account
paying with mobile application

What are the different types of virtual wallet?

Different types of digital wallet offer different services and benefits. Here are three types:

1. Mobile and desktop digital wallet: these can be accessed via your mobile or desktop computer, just like Skrill’s digital wallet, to make payments online and transfer funds between friends.

2. Mobile digital wallet: virtual wallets that are used exclusively on your mobile phone. These wallets are commonly used for online shopping and to make contactless purchases in stores.

3. Cryptocurrency wallets: These wallets hold your cryptocurrencies and provide public and private keys to protect and transfer funds.

Why download a digital wallet app?

Security: Digital wallet apps are secure because they include features like PIN codes and face or fingerprint recognition to verify your identity. Skrill uses the latest technology, such as Security Socket Layer (SSL) encryption and two-factor authentication. 

Rewards: Some digital wallets like Skrill have loyalty programs that grant rewards in return for using them to pay.

Convenience: Digital wallets offer a hassle-free way to spend as you don’t need to carry your cards or physical money for your daily purchases.

Speed: Money transfers are fast, hassle-free, and cheap. 

Why get a Skrill digital wallet?

skrill digital wallet

Skrill is used by millions of users around the world for secure and hassle-free money transactions. Here are the advantages of a Skrill account:

Multiple payment methods: Fund your Skrill wallet using a range of payment methods and access the money to send and spend.

Online payments: Make payments at thousands of websites without needing a bank account.

Currency exchange: Hold a balance in multiple currencies and covert between different currencies instantly.

Loyalty: Get rewarded with Knect, Skrill's loyalty program.

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