The electronic equivalent of a wallet for e-commerce transactions. Also called an "e-wallet," it holds credit card data and passwords for logging into Web sites. The wallet data may reside in the user's machine or on the servers of the wallet service. When stored in the client machine, the wallet may use a digital certificate that identifies the authorized card holder. Windows Live ID, Yahoo! Wallet and Gator's eWallet are examples of digital wallets.
Envisioned for Payment Services
In the early days of the Web, the digital wallet was also conceived for holding electronic money for various payment services that were emerging. However, except for PayPal, such services never materialized, and the credit card became the primary digital money over the Internet. See identity metasystem, information card, digital coins and Web payment service.
eWallets such as this one save your name, address and credit card information and fill in the forms when you shop online. (Image courtesy of EntryPoint, Inc.)
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