The term "wallet" has been the subject of many definitions. Let's take a look at these together.
In very general terms, it is the name given to digital wallets (e-wallets) specifically in e-commerce and fintech. It is very popular because it allows users to securely store their payment information and passwords, and makes it easy for users to make payments.
In other words, a digital wallet can be described as the general name for solutions that store card information in their own systems in the cloud, and that generally allow payments to be made during online shopping without entering card details.
Put another way, it can be described as an electronic wallet in which credit cards, debit cards, or prepaid cards are all registered in a single place.
With a wallet, cardholders can securely add, store, update, and delete their card information. On the payment page, cardholders select one of their registered cards and pay with a single tap. In this way, with a wallet (digital wallet), cardholders enjoy a secure, easy, and practical payment experience.
Are there examples of digital wallets in Turkey?
Yes, there are. In Turkey, BKM Express, PayPal, and iPara can be given as examples in the online wallet category.
Note: BKM Express does not require the full card information when registering a card; there is no requirement to enter the full card number or the expiration date. To register with BKM Express, the first 6 and last 4 digits of the card are sufficient.
