Electronic wallets are also further divided into different categories based on their working andthe services they provide. Different digital wallet systems provide a variety of ways for e-payments.
TYPES: The four prominent different types of digital wallet systems are:
QR code system: through QR-coding system you can make purchases and payments through a mobile gadget. This gadget can be used anywhere; either online or offline. The QR code system is widely used in apps like Wechat, Starbucks mobile payment, and Walmart party.
Digital Delivery Technology: Digital delivery technology, as the name implies that such digital wallets are used for the payment of goods and services that you buy online. With the use of digital delivery technology, you can visit online shops and the service is easy to access and install. Important examples are Amazon, Alipay, and PayPal.
NFC technology: NFC is abbreviated as Near Field Communication. The core manufacturing of this technology lies in the simple data exchange between closely located devices. It is called near field communication because it is used between a credit card/Smartphone and reading terminal and so on. The included striking instances are Samsung pay, apple pay and android pay.
SMS-based payment: the e-wallet in which payments are done through SMS commands. It can be done without the availability of the internet. Examples are mobile money, orange money and Tigo.