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Digital Wallets

I don’t carry money in my purse, I have a digital wallet in my phone

What is Digital Wallet?

A digital wallet is a structure that safely stores users' monetary details and passwords for frequent payment methods. By using a this wallet, users can complete their purchasing effortlessly and swiftly (like Paytm, Pay Pal etc.)with near-field communications (NFC) technology. You can easily generate your own password, in case you forget the same, you get a new one through the you email id of the portal you have registered the account. Digital wallets are not only used for online purchases but also for authentication of the user.

A digital wallet can accumulate entire user information, including identification, transaction record and individual details. Digital wallets can also be used in amalgamation with other mobile payment systems and you can easily pay to the next person, with just scanning the barcode through which their shop or company or branch is register.

Use of Digital Wallet in MLM Software

Unlike all other platform MLM software also feature digital wallet. When a fiscal deal is performed using the digital wallet, the entire procedure will be accomplished within a fraction of minutes. Along with the all-around features, our MLM Software also guarantees tenable transactions.

For any MLM Company, digital wallet is vital to supervise and function all Cash-in, Cash-out fiscal information about the user. E-Wallet make sure safe and risk free MLM Business. Awapal MLM software offers a Digital Wallet system with sky-scraping features that can help you in carrying your MLM Business effortlessness.

Features Of Digital Wallet

  • The digital wallet system  helps you to assimilate with your bank account
  • Users can store their money virtually
  • Easily transfer money from home, work-zone, or at any corner of the globe.
  • Virtual wallet is much more safe than visual wallet
  • Integrate your debit or credit card with your wallet.
  • Digital wallet can be used for ordering and purchasing multiple products and various sites.
  • Bank transaction of huge amount can be done by linking your bank through your wallet and you can earn bonus.
  • Pay back systems are the best facility provided by the wallet to continue the engagement of the customers.
  • Multiple discounts for making various payments like electricity bill, mobile bill, TV recharge etc.
  • Various wallet companies have started providing multiple options to their users so that they can easily complete their daily activities by just clicking few buttons.
  • You can update on the transaction which is carried by you on a regular basis.

Advantage Of Digital Wallet

Use of digital wallet, although has become quite easy and simple, but there are good chunks of people who
are still about this facility. If you are planning to have an E-commerce MLM business, then digital wallet can be a good option.

Handiness

Moving around with a lot of wealth makes you a budding goal for burglary. You will be noticed by many people and you may even feel paranoid, always as there might be someone who will continuously keep an eye on you or you might be wondering if people nearby can easily spot the amount of cash you are carrying.

Discoverable

Your transactions are connected to an entity who is able to provide you with a ledger of all the transactions that you have completed and how much have been debited or credited into your account that is why every single centavo person you sent is noticeable and you can confirm them so that there should not be nay disputed in any ways.

Duration

Since you can continue the transaction as long as you have a connection to your wallet and the entity holding up your balances, you have the ability to transact at any time from the convenience of your own home or at your comfort zone. You are in control of your availability and when you want to carry with your shopping.

Time Management

A lot of digital wallets have the facility to set automatic time when payments need to be made to precise enrolled accounts and business (Credit card, EMI, Loan etc.). This makes sure that you do not incur high interest rates due to delayed payments and you don't even have to leave work early to be able to make it to the deadline.

Accurate Payment

You can pay the exact amount of your bill as mentioned. The problem of carrying a change will be reduced as you can make the required payment asked by company, bank, shop, etc., With the help of this method you can have tension free transaction and in case you have made more payment, you can receive cash back option. This is the best way to give gifts to your members and can even receive from them.

Types of Digital Wallet Made Available by Awapal Solutions

Pre-Paid Wallet

Prepaid payment is issued by multiple banks and companies, they offer prepaid wallets from which you can add money to your wallet and make payments whenever required.

The Reserve Bank of India (RBI) has categorized the wallet in 3 parts: Closed: A closed wallet is used for buying goods and services solely from one company, Semi-closed: You can use this wallet to buy goods and services, including monetary services, at specific commercial locations, Open wallet: It can also be used for buying purchase of goods and services, including at merchant locations or point of sale terminals that accept cards.

Points Wallet

PThe Points Loyalty Wallet helps the user to Track, Exchange and Redeem your points and rewards from countless world's largest programs — from airline frequent flyer miles to hotel points, credit card rewards to gas and from medical to shopping.

The Points Loyalty Wallet is a powerful tool that allows your customers to maintain their favorite loyalty programs in one spot. Once they add and register their programs into a wallet, they can focus on the exciting ways they can use their miles to transact on your site/app.

Crypto Wallet

A cryptocurrency wallet is a locked digital wallet used to store, send, and receive digital currency like Bitcoin, ethereum, litecoin which can be opened only through the login person or partners, who have registered it. Most coins have an official wallet or a few officially recommended third-party wallets. In order to use any cryptocurrency, you will need to use a cryptocurrency wallet.

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