Are you one of those people whose wallets bulge out of their pockets? Whether your wallet is stacked with cards or stuffed with cash, it’s time to lighten your load. Thanks to digital wallets, now you can carry all the money you need in the palm of your hand (because we know that’s where your smartphone is)

Wondering what a digital wallet is? Or just confused between the types of digital wallets? Don’t worry, we’re here to help. At Airtel Payments Bank, we don’t just offer you a digital wallet; we also break down everything you need to know about it. After all, knowledge is power. So, let’s get started!

What is e-Wallet or Digital Wallet? 

An e-wallet or digital wallet keeps all your payment details, like your bank account info or your debit or credit card details, within an application. Using this app, you can make electronic transactions, whether you're shopping online or in a store, without needing to carry physical cards or cash. 

How Digital Wallet Works?

Setting up

First, you’ll need to download a digital wallet app. Then, you link your bank account, debit/credit card, or even a UPI ID. Proceed to a super-quick validation process with any type of proof of identity, and voila, your e-wallet is ready to go!

Securely storing data

Worried about your payment credentials? Don’t be. With Airtel Payments Bank, all your data is encrypted and stored securely in the app. And unless you authenticate and authorise a payment, money cannot be deducted from your e-wallet. 

Making payments

If you’re shopping online, simply choose the digital wallet as your payment option at the time of checkout. You’ll be required to confirm with a password, PIN or biometric. If you’re making a payment at a store, simply open your digital wallet app, scan the merchant’s QR code and confirm the payment. 

Payment confirmation

After you’ve authenticated, the payment will be processed in real time. You and the merchant will both receive instant confirmation. The money will be debited from your e-wallet balance or the linked bank/card. 

What are the Types of Digital Wallets?

Open wallets

An open wallet, like Airtel Payments Bank Wallet, is usually issued by a bank and allows you to pay bills, shop online, send money to friends or merchants, and even transact at various online platforms. 

Closed wallets

A closed wallet, on the other hand, is issued by a specific merchant for use within their ecosystem. This means you can use the wallet to buy products or services from that specific company only. 

Semi-closed wallets

A semi-closed wallet can be used for making payments across a specified group of merchants. It isn’t as restrictive as closed wallets and partners with multiple vendors. 

What All Can You Do with Airtel Payments Bank Wallet?

1. Send money to a friend or merchant.
2. Recharge your mobile, DTH connection, and data cards.
3. Pay utility bills like electricity, water, gas, and credit cards.
4. Shop online for groceries, food, fashion, travel, and more.
5. Scan and pay at local stores, from a kirana shop to a petrol pump.

Closing Thoughts

Stop fumbling for change in your wallet and switch to a digital wallet. Whether it’s paying for your daily chai or booking a flight ticket, an e-wallet like Airtel Payments Bank is your all-in-one money manager. The best part? It’s fast, secure, and always ready in your pocket!

FAQs

What is an e-wallet?

An e-wallet or digital wallet is a secure app that stores your payment details and lets you make cashless transactions using your smartphone.

What are the types of digital wallets?

There are three types: closed wallets (used only with one brand), semi-closed wallets (usable at select merchants), and open wallets (linked to banks, allowing full financial services).

How does a digital wallet work?

You download a wallet app, link your bank account or cards, complete a quick verification, and you’re ready to pay, transfer money, or shop right from your phone.