Are Digital Wallets Useful Day-to-Day?

Digital wallets are on the rise, and many people adopt them every day. However, they’re used mostly for online transactions for most, and sporadically. This begs the question of whether digital wallets can be useful in your everyday activities.

While people rely heavily on cash and credit cards for their everyday transactions, digital wallets can replace them in different scenarios. Here are some of them.

Paying For Online Purchases

If you tend to purchase online a lot, chances are you already use digital wallets. However, there are many people that still rely on credit cards or bank transfers for it.

The advantage of using digital wallets like PayPal is that you can integrate your traditional payment methods on the platform and still use them, but you don’t need to input your card or bank details each time you buy something.

This is not only a time-saver but also enhances security. This is because reputable digital wallets all have the latest safety features such as SSL encryption, which makes it difficult, if not impossible, for someone to access your data.

It actually allows easy cross-border payments, which is why many merchants prefer it. In fact, this is one of the main driving forces of the expected revenue growth of digital wallets in Africa, which is expected to be US$ 40 billion by 2025.

Funding Your Online Casino Account

Digital wallets have been used for a long time at online casinos. In fact, they’re one of the most used online casino deposit methods for players in Africa. This is particularly important in the continent because some players have limited access to traditional banking.

Besides, the same convenient features stand. They’re safe, you don’t need to input your baking information each time, and additionally, they’re normally faster.

This is particularly important when taking part in gambling activities because money transfers usually take time. It’s not an ideal situation when you’re eager to try a new slot game and your bank transfer takes several days to happen.

It’s also important when withdrawing money, where they’re again the fastest method on average, and sometimes the withdrawal limits are higher.

Buying Items At Physical Stores

In recent years, there has been incredible growth in mobile payments in Africa, which includes digital wallets. In fact, in 2021, 84 percent of internet users in Kenya made regular payments with mobile phones.

This was encouraged by governments in the continent, and some businesses offer digital wallet payments, such as PayPal. Even though it’s not widely available, it’s expected to grow as more people look for alternative digital payment methods.

In the case of PayPal, the store can create a QR code or use the Business app to allow customers to pay for their goods. It’s a fast and safe way to shop in real-life.

Use It For More Than Money

One of the best reasons for using digital wallets in everyday life is, strangely enough, not related to payments.

As you know, they are very useful to store all your payment methods and use them in a straightforward manner, saving you time when you’re on the line. What many people don’t know is that the same concept can be used for other elements, too.

Many digital wallets allow you to store loyalty cards, coupons, plane tickets and even virtual IDs. All you need to do in those cases is show your coupons or documents inside the app, and you’re good to go.

Granted, this feature is still not so widespread but it’s being adopted fast. It’s expectable that more businesses and customers will use it every day, given the monumental growth in digital payments that Africa is experiencing.

It’s Not The Future, It’s Today

Some people consider digital wallets as something distant that one day will be widespread. This is not the case, as there are many situations in which you can use them today. Many are surprised when they discover these services can be used outside of the online world, too.

The companies behind digital wallets are also IT giants looking to expand their offerings, so it’s safe to assume what we currently understand as a digital wallet will change over time, becoming more inclusive and allowing a lot more actions than today.

Summing up, if you don’t use a digital wallet, it’s recommendable that you start today, and discover the many choices available. If you’re already using one, take a look at the many features it has and you may end up using them in ways you never thought of before.