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The Challenges and Future of E-Wallet

The Challenges and Future of E-Wallet

Chiam Chooi Chea
Copyright: © 2020 |Pages: 13
ISBN13: 9781522597155|ISBN10: 1522597158|EISBN13: 9781522597162
DOI: 10.4018/978-1-5225-9715-5.ch063
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MLA

Chea, Chiam Chooi. "The Challenges and Future of E-Wallet." Encyclopedia of Criminal Activities and the Deep Web, edited by Mehdi Khosrow-Pour D.B.A., IGI Global, 2020, pp. 932-944. https://doi.org/10.4018/978-1-5225-9715-5.ch063

APA

Chea, C. C. (2020). The Challenges and Future of E-Wallet. In M. Khosrow-Pour D.B.A. (Ed.), Encyclopedia of Criminal Activities and the Deep Web (pp. 932-944). IGI Global. https://doi.org/10.4018/978-1-5225-9715-5.ch063

Chicago

Chea, Chiam Chooi. "The Challenges and Future of E-Wallet." In Encyclopedia of Criminal Activities and the Deep Web, edited by Mehdi Khosrow-Pour D.B.A., 932-944. Hershey, PA: IGI Global, 2020. https://doi.org/10.4018/978-1-5225-9715-5.ch063

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Abstract

This article covers the introduction of e-wallet, e-wallet key takeaways, e-wallet features, types of e-wallets and its perks, consumers' preferred method of payment, worldwide payment platforms, challenges of e-wallets, the annual payment transactions using e-wallet, the intention to accept the digital payment methods by retailers, the future of e-wallets, solutions and recommendations of e-wallets, and lastly, conclusion and future research on e-wallets. Most of the players in the banking industry foresee that e-wallets will take over the use of cash and credit/debit cards (plastics) by consumers quickly. However, e-wallets have not fully taken off and consumers' reception and interest seem lukewarm. This shows that the concept of e-wallets still has a long way to go. What are the reasons for this phenomenon?

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