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In the modern digital age, financial transactions have taken a massive leap forward with the introduction of network wallets. Also known as e-wallets or digital wallets, network wallets have emerged as indispensable tools for managing money, making payments, and conducting transactions seamlessly in the virtual space. This AI-powered advancement has revolutionized the way people interact with their finances, allowing for faster and more secure transactions. In this article, we will explore the concept of a network wallet, its functional aspects, and the reasons why so many individuals have embraced its usage. Additionally, we will introduce some of the most popular network wallets available today, showcasing their unique features and highlighting their widespread adoption.
The appearance of e-wallets helps us save more time when making payment transactions every day. So what is an e-wallet? Why do many people use popular e-wallets today?
what is network wallet?
An electronic wallet, also known as a digital wallet, is an online account used to pay for popular online transactions today.
The account of the e-wallet can store all the personal information of the user , it even links the bank account to conduct transactions faster.
As long as you own a smartphone or laptop, a wifi network and an account, you can make transactions quickly wherever you are.
Why are so many people using e-wallets today?
The reason many people use e-wallets today is because of the convenience that e-wallets have brought such as:
- Save travel time to make transfers – receive money for relatives, partners, friends.
- Buy goods and services faster and easier on today’s electronic websites.
- Pay electricity and water bills quickly.
- Perform account balance queries , to better control fluctuations in your account.
Some popular e-wallets
Understanding the benefits that e-wallets bring in today’s busy life, you have many choices about the type of e-wallet to use in the near future, such as:
Momo e-wallet
This is the most popular wallet in recent times when the Momo brand appears on many routes in and out of the city.
- In 2016, the multinational investment bank – Goldman Sachs and the multinational banking and financial company – Standard Chartered invested $28 million in Momo to develop the product.
According to Momo’s announcement, the money in Momo e-wallet is guaranteed by Vietcombank, and this payment application belongs to M Serve Online Mobile Service Joint Stock Company.
Zalo Pay e-wallet
Not inferior to the Momo e-wallet brand, Zalo Pay is also widely used today. This is a mobile payment application anytime, anywhere (including holidays of the year) and is owned by Zion Co., Ltd. under VNG Group.
One more remarkable thing, you can use this wallet to buy and pay at Tnhelearning.edu.vn with a discount – up to 50% off the order value. However, this offer is only applicable for the first payment and the maximum reduction is 250,000 VND.
Vimo e-wallet
Co-branded between Vimo Technology Joint Stock Company and Mobifone, Vimo e-wallet supports users to withdraw, deposit and transfer money quickly. In addition, Vimo is also associated with more than 24 different banks, becoming an electronic wallet that is also widely used today.
VTC pay e-wallet
In 2010, VTC Multimedia Corporation launched the VTC Pay e-wallet and now this wallet has been licensed and operates under the management of the State Bank of Vietnam. Linked with 33 banks and 3 international card organizations, VTC pay e-wallet allows users to make online transactions very quickly, whether in the country, internationally, or in places where there are vending machines. automatic goods.
VnMart e-wallet
Appearing since 2008, VnMart e-wallet is a product owned by Vietnam Payment Solution Joint Stock Company. E-wallets are divided into 2 types:
- VnMart e-wallet for businesses: manage sales faster.
- VnMart e-wallet for individuals: buy services, goods and pay for services online.
E-wallet 123pay
Is a product of Zion Joint Stock Company under Vinagame Group, making transaction and payment needs faster and more convenient when this wallet has opened up a variety of payment methods (such as: via Visa card, ATM card, MasterCard, JCB and even Internet Banking).
AirPay e-wallet
Appeared in October 2017, AirPay e-wallet is a product of Tien Phong Bank (TPBank) in association with Vietnam E-Sports Development Joint Stock Company (Vietnam Esport – VED).
Currently, this wallet is linking a lot of food and entertainment services such as Delivernow, Vntrip, … in addition to payment utilities for electricity, water, phone recharge cards, etc.
VCBPay e-wallet
This is a new type of electronic wallet of Vietcombank that also has functions such as transferring money, recharge phones, buy movie tickets, scan QRCode to pay for shopping services, etc.
However, VCBPay e-wallet does not have many features like other e-wallets, such as free money transfer, water payment, etc.
E-wallet EDong
An electronic wallet issued by Dong A Bank in association with Electricity and Telecommunications Payment Solutions Joint Stock Company (ECPAY) in 2012.
It functions like an online wallet: transferring money between wallets, paying electricity and water bills nationwide, etc.
Mobivi . e-wallet
This is an electronic wallet of Viet Phu Payment Service Support Joint Stock Company (MobiVi) when associated with other partners (such as Vietnam International Commercial Joint Stock Bank – VIB, Techcombank, …).
Users can register to use this e-wallet through banks that have deployed this product with Viet Phu company.
It can be said that e-wallets bring a lot of convenience for the payment of services and goods in today’s busy life. Now you know what an e-wallet is? Popular types of e-wallets today!
In conclusion, a network wallet, commonly known as an e-wallet, is a digital application that allows individuals to store, manage, and make transactions using their mobile devices or computers. This convenient and secure form of payment has gained immense popularity in recent years due to its numerous advantages.
One of the main reasons why so many people use e-wallets is the convenience they offer. With just a few taps on their smartphones, users can make payments for a wide range of goods and services without the need for physical cash or carrying multiple cards. Additionally, e-wallets often come with features that enable users to store loyalty cards, travel tickets, and even identification documents in one place, making it even more convenient for them to navigate their everyday tasks.
Security is another essential factor driving the widespread adoption of e-wallets. These digital platforms utilize encryption technology to protect users’ personal and financial information, reducing the risk of identity theft or fraud. Moreover, many e-wallets offer additional layers of security, such as two-factor authentication and biometric verification, ensuring that only authorized individuals can access the wallet.
Introducing some popular e-wallets today, we have:
1. PayPal: One of the most well-known and widely used e-wallets, PayPal allows users to store their credit or debit card details securely and make payments through its platform. It offers a user-friendly interface and is accepted by a vast number of merchants globally.
2. Apple Pay: Exclusively available for Apple users, Apple Pay allows individuals to make payments using their iPhone, iPad, or Apple Watch. With its integration of Face ID or Touch ID, it provides a seamless and secure payment experience for users.
3. Google Pay: Designed for Android users, Google Pay enables individuals to link their credit or debit cards to their Google accounts and make contactless payments at supported stores or online merchants. It also offers a peer-to-peer payment feature for seamless money transfers between individuals.
4. Samsung Pay: Catering to Samsung device owners, Samsung Pay combines NFC (Near Field Communication) and MST (Magnetic Secure Transmission) technologies, allowing users to make payments at both NFC-enabled and traditional card terminals.
These are just a few examples of the many e-wallets available in the market today, each offering unique features and capabilities to enhance the payment experience for users.
Overall, the popularity of e-wallets stems from their convenient, secure, and efficient nature. As more individuals embrace digital payment solutions, network wallets are likely to continue evolving and adapting to meet the growing demands of the modern consumer.
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