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Wallet

A system that securely stores a user’s payment information and passwords for numerous payment methods and websites. Using their digital wallet, users can easily and quickly complete purchases with near-field communications technology. They can also create and store stronger passwords for easy reference. Can be used in conjunction with mobile payment systems that allow customers to pay for purchases with their smartphones. Also used to store loyalty card information and digital coupons.

Also known as: digital wallet, e-wallet