digital-wallet

Vocabulary Word

Definition

A digital wallet is a virtual space, often an app, that stores and manages digital versions of things like your money and cards. It's like your physical wallet but on your smartphone or computer.

Examples in Different Contexts

In digital marketing, promoting a brand’s digital wallet can be crucial. A strategist might say, 'Utilizing our digital wallet for transactions simplifies the customer journey, enhancing their overall experience.'

Practice Scenarios

Tech

Scenario:

According to the recent survey, several users have privacy concerns when it comes to online transactions. We need to ensure our systems provide maximum security.

Response:

A good point. Perhaps we can strengthen the security features of our digital wallet to build trust among consumers.

Business

Scenario:

We've noticed a consistent increase in mobile banking. Perhaps we should consider incorporating more digital services.

Response:

I agree. Launching a digital wallet service could greatly enhance our customer's experience.