ARE E-WALLETS REALLY SAFE TO USE? HERE’S WHAT YOU NEED TO KNOW
Electronic wallets (e-wallets) are a relatively new concept in Malaysia but in an increasingly digital society, its daily prevalence is inevitable.
As the popularity of e-wallets rises, so do the concerns & skepticism around it.
With mass data breach looms in our recent history; privacy & security concerns of an entirely digital wallet can make us hesitant to trust and adopt this new technology.
WHAT IS AN E-WALLET?
Typically, an e-wallet is an online account where you can store money and use it for a variety of purposes.
It is not only to make online purchases. Most e-wallets (like vcash) allow transferring funds to family and friends, making bill payments, or paying at a store for goods or services rendered.
Some e-wallets even allow users to store their loyalty cards, enable cashback reward programs. A number of niche-focused e-wallets even save virtual versions of their movie or flight tickets.
While each e-wallet has its own unique factor, they are all considered to be a simple and convenient way to avoid cash.
