E-Wallet:-

          E-wallet is a type of electronic card which is used for transactions made online through a computer or a smartphone. Its utility is same as a credit or debit card. An E-wallet needs to be linked with the individual’s bank account to make payments. E-wallet is a type of pre-paid account in which a user can store his/her money for any future online transaction. An E-wallet is protected with a password. With the help of an E-wallet, one can make payments for groceries, online purchases, Recharging mobile phones and flight tickets, among others.      

There are 4 types of e-wallet

• Open wallets

• Semi Open

• Semi Closed

• Closed

Example:- Paytm, mobikwik, oxygen wallet, citrus wallet, itz cash , ICICI pockets, SBI buddy, HDFC payZapp, Jio money, Airtel money, freecharge, phone pay etc.