What is a Mobile or Digital Wallet?
A mobile / digital wallet is a type of payment service through which businesses and individuals can receive and send money via mobile devices. It is a form of e-commerce model that is designed to be used with mobile devices due to its convenience and easy access.
Benefits of Mobile Wallets
Lower Costs: Employing the use of digital wallets removes the need for intermediaries, in a variety of forms. Purchases in-store may no longer require a cashier because the purchasing process becomes as simple as a tap or scan of a mobile device. Applications like EasyPay can replace expensive POS (point of sale) systems that will reduce transaction costs for the business.
Competitive Advantage: Easypay provides a more convenient transaction processing method for customers, giving businesses that employ this technology a competitive edge in the market. It redefines the user experience of paying and incorporates a novelty aspect to each purchase.
Modern: Traditional cash-only businesses, such as your local shop can now accept digital transactions. This opens up an entirely new aspect to payment methods in large markets, introducing many business opportunities and greater potential revenue.
Convenience: Users are able to get through a purchase in mere seconds with a simple tap or scan of their mobile device. The experience of purchasing items becomes quicker and easier – leading to a greater sense of satisfaction. Furthermore, with faster transactions, checkout lines within stores become much shorter.