The Pearlvine DP system provides you a Fully Functional Digital Wallet. Pearlvine’s high end system secures your wallet, and allows you to keep an eye on your transactions and your account balance, all you need to enter is your OTP (One Time Password) before spending DPs and fund. This provides protection from wallet-stealing viruses, trojans as well as a sanity check before sending payments. This digital wallet refers to an electronic device that allows a user to make electronic commerce transactions. In Future this can include purchasing items online with a computer or using a smartphone to purchase something at a store. An individual’s bank account can also be linked to the digital wallet. They might also have their driver’s license, health card, loyalty card(s) and other ID documents stored on the phone. The credentials can be passed to a merchant’s terminal wirelessly via near field communication (NFC). Increasingly, digital wallets are being made not just for basic financial transactions but also to authenticate the holder’s credentials.
This digital wallet has both a software and an information component. The software provides security and encryption for the personal information and for the actual transaction. Typically digital wallets are stored on the client side and are easily self-maintained and fully compatible with most e-commerce websites. A server-side digital wallet, also known as an e-wallet, is one that an organization creates for and about you and maintains on its servers. Server-side digital wallets are gaining popularity among major retailers due to the security, efficiency, and various added utilities. It provides to the end-user, which increases their satisfaction of their overall purchase. The information component is basically a database of user-input information. This information consists of your shipping address, billing address, payment methods (including credit card numbers, expiry dates, and security numbers), and some other information.
The key points of this digital wallet are
They’re composed of both digital wallet devices and digital wallet systems. There are dedicated digital wallet devices such as the biometric wallet, where it’s a physical device holding someone’s cash and cards along with a Bluetooth mobile connection. Presently there are further explorations for smartphones with NFC digital wallet capabilities, such as the Samsung Galaxy series and the Google Nexus smartphones utilizing Google’s Android operating system, the Apple Inc. iPhone 6, iPhone 6 Plus utilizing Apple Pay.
Digital wallet systems enable the widespread use of digital wallet transactions among various retail vendors in the form of mobile payments and digital wallet applications. The M-PESA mobile payments system and micro financing service has widespread use in Kenya, Tanzania and India while the MasterCard PayPass application has been adopted by a number of vendors in the U.S. and worldwide.
These types of Digital wallets are being used more and more in Asian countries as well. One in five consumers in Asia are now using digital wallet representing two fold increase from two years ago. A recent survey by Master Card’s mobile shopping survey shows that 8500 adults (aged 18–64 across) in 14 markets showed, China(45% users), India (36.7% users) and Singapore (23.3% users), are the biggest adopters of digital wallets. The survey was conducted in between October and December 2015, also analyze (48.5%) consumers in these regions made purchases using smartphones. Indian consumers are leading the way with 76.4% using a smartphone to make purchase which is a drastic increase of 29.3% from previous year. Companies and financial organizations such as Reliance, Amazon India Paytm, Digibank etc. have made their digital wallets available in the market for shopping and other services, which have proven to be quite effective. Pearlvine has already introduced its own digital wallet.
Payments for goods and services purchased online
A client-side digital wallet requires minimal setup and is relatively easy to use. Once the software is installed, the user begins by entering all the pertinent and exact reasonable information. The digital wallet is now set up. At the purchase or check-out page of an e-commerce site, the digital wallet software has the ability to automatically enter the user information in the online form. By default, most digital wallets prompt when the software recognizes a form in which it can fill out; if one chooses to fill out the form automatically, the user will be prompted for a password. This keeps unauthorized users away from viewing personal information stored on a particular computer.