It didn’t seem that long ago that cash used to be king on the high street, and it was the preserve of society who wished to make purchases while out and about shopping.
However, the digital revolution that has taken place over the past decade has been nothing short of extraordinary. With that, cash has now become old hat, and it has been replaced by something else — e-wallets.
Yes, digital payments have become the way forward for many, and using our iPhone and Android devices is a common sight.
Most consumers will pair their mobile phones with an e-wallet payment, and it ultimately provides more convenience, especially if you are in a rush.
While there has been an explosion in the number of e-wallets that have been launched, there are a few trusty favorites that we would like to share with you. So, carry on reading to learn more.
Skrill has garnered a reputation as a payment platform for having low fees and fast transfers.
Well, it actually offers some of the lowest fees when you compare it to its competitors, and Skrill is great for use on renowned e-commerce platforms such as Shopify.
Moreover, Skrill has soared in popularity over the past few years, and it now supports 40 currencies worldwide, and there are no conversion fees to contend with either.
Oh, and what’s even better is that there are no monthly maintenance or setup fees, so you just need to sync up your banking details, and off you go!
Although PayPal, by e-wallet standards, is quite old, dating back to 1998, there have been figures to suggest that over 70% of millennials use PayPal to send and receive money.
The sign-up process is straightforward, and for many businesses nowadays, PayPal can be used to resolve invoices with clients before users can then transfer money to their bank accounts.
Perhaps one element of its popularity is that PayPal is incredibly simple to use. It also utilizes the latest SSL (Secure Socket Layer) measures so that customers will be protected when they pay for services online, so their financial data won’t be exposed.
Among the other safety measures that have been installed are fraud monitoring and email verification, so security is taken very seriously, and PayPal remains one of the big players in the e-wallet world.
While figures reported earlier this year suggested that PayPal is the most popular digital wallet in the UK, hot on its heels is MuchBetter.
Indeed, MuchBetter has fast become a solution to the payment requirements for most businesses, and now, UK, EEA, and Swiss customers can pair their MuchBetter Mastercard with one of their contactless devices while on the move.
It’s fair to say that using MuchBetter has become a business trend in much the same way that deploying ChatGPT to meet AI demands has surfaced as a pressing matter that companies are aware that they need to get to grips with.
MuchBetter has made an impact across an increasing number of digital industries, and this is clear for casino enthusiasts to see. Yes, there are a plethora of reputable MuchBetter casinos available for players to join, and they will fare well across several key performance metrics. For example, Duelz Casino is held in high regard as players will get access to over 1,000 slots, but they can also process MuchBetter cash outs in as little as six minutes, which is lightning quick compared to its rivals.
As such, MuchBetter provides a safe gateway, and its sophistication as an e-wallet ensures that it is adept at facilitating localized payment methods for many businesses.
Also widely considered to be another prominent online payment system, Neteller is used worldwide, and transactions can be carried out with minimal fuss.
Aside from using it for payroll purposes, Neteller provides instant payouts. And what’s even better is that there are over 100 payment options with a single integration and no chargeback guarantee.
Neteller gives customers a lot of flexibility, and its increasing circulation suggests that it has the tools to become a powerhouse.
So, from what we have seen, e-wallets can be incredibly reliable for businesses, and the watertight security measures put in place will give customers peace of mind when they use them.
Of course, we have only highlighted a few payment methods on this page, but it’s fair to say the said e-wallets have already made a huge splash, and they will continue to do so in the future.
Perhaps, PayPal remains the most potent e-wallet, and that’s not solely to do with the fact that it has been around the longest. Yes, its longevity pays testament to the fact that it is still one of the most trusted payment systems, but it is showing no signs of slowing down or relinquishing its control.
Anyway, we hope you have found this guide to be useful. If it has given you food for thought, then you should look more closely at the payment methods we have examined and try them out for yourself. You never know, you might end up loving them as much as we do!