Wednesday, November 18, 2009

Digital Wallet


This time I tried the phrase digital wallet randomly. Only after I searched I realize that this is something that's been around for a while now, however, I did not know anything about it's origin. According to Wikipedia, the digital wallet was first utilized in the late 90's with the advent of storing "e-cash" online. Apparently these services never caught on and the idea of the digital wallet or e-wallet evolved over the years to provide internet users with a convenient way to store and use online shopping information. I am fairly confident that this is the same general idea (or is exactly the same) as services such as PayPal. I honestly think that the digital wallet revolutionized the internet and I really don't think that anyone could disagree with that. However, I think that there is still a lot there that could be improved upon. I still don't feel as if people feel comfortable sharing their banking information online. I believe that something more has to be done to assure the customer that they are safe and that everything will go smoothly. Also, these services are very easy to replicate and someone with basic computer knowledge could put something on their website to steal your information. In the future, I think that this industry will continue to grow and online shopping will become even bigger than it is now. Ebay and Amazon seem to be two of the biggest players and I'm sure we will see more companies in the coming years provide the same services. I believe for these companies to be as successful as possible, they need better options for online payment.

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