Accept relevant payment methods in local markets
Offer your customers an additional payments methods types
Key in hand e-commerce plugins
Full documentation guide
Knowledge base
About our advantages
Terms & Policy
--> --> -->
Accept a wide range of payments anywhere, anytime.
Contact us
Want to read about Fintech or our company news?
Go to Blog
Blog  /  Payments  /  Top 6 Digital Wallets 2022

Top 6 Digital Wallets 2022

Time to read: 6 minute(s)

The development of digital wallets is rapidly gaining momentum due to the high level of services offered and convenience, compared to traditional online banking. The advantage of digital wallets is the ability to make banking transactions using mobile phones. At the same time, you do not need to enter login details for each transaction, which greatly simplifies the payment process. Digital wallets have other benefits, which we’ll cover in this article.

The rise of digital wallets

Over the past decade, the digital wallet market has expanded significantly. According to Statista, more and more users are choosing to pay using the Apple Pay, Google Pay and Samsung Pay mobile apps:
In addition to such giants, there are many smaller services on the market that provide similar services, each e-wallet company tries to be unique. An increasing percentage of the population of developed countries is becoming aware of the convenience and safety of applications for online transactions. Many experts believe that the development of digital wallets in the coming years is inevitable as both markets and customers are set to expand online payment options.

Benefits of digital wallets for business

What is an e-wallet? Payment solutions companies are constantly integrating advanced features, providing end users with all their benefits. All this allows you to simplify the payment process as much as possible and at the same time reliably protect your payment data.
Among the opportunities provided by e-wallets we can highlight the followings:

  1. Convenience. Having an electronic wallet makes life much easier. Now the user does not have to carry plastic cards with him, as well as cash. Payment is now done with one touch.
  2. Security. Any trusted popular e-wallet helps users fight online fraud. All payment details in your wallet are encrypted. This means that when transferring payment data, one-time codes are used, which, even if stolen, will be useless for fraudsters. The data of plastic cards can be easily found out simply by looking, while in digital wallets, payment information is not displayed in full. Of course, online payment applications have other security methods as well: two-factor authentication, biometric verification, etc.
  3. Access to all existing cards. Free e-wallet users generally only use them as a credit or debit card. However, if the payment provider is compatible with the wallet, a user can link all available plastic cards: loyalty cards, coupons, bonus cards, etc.
  4. Budget planning assistance. Many online transaction apps help you optimize the budget. Information about spending can be obtained in the form of reports by category of expenses. In addition, users can set limits for certain categories of goods and services by their own.
  5. Availability. Due to the widespread use of online payments, digital wallet users can purchase at all payment points that accept plastic cards. While many retailers still use cash as their primary payment method, they are also gradually moving towards online payments.

Now let’s look on the e-wallet industry and companies worth considering when processing payments online and choose the top e-wallet.

Top 6 digital wallets to use. How to choose the best e-wallet?


Top 6 Digital Wallets 2022
PayDo is an online banking that offers, European IBAN, merchant account and allows to process payments for legal entities and individuals.
PayDo advantages:

  • More than 350 payment methods;
  • Low fees for card processing;
  • Remote European IBAN opening;
  • SWIFT, SEPA, TARGET2 payments;
  • Merchant account opening for EU/UK residents;
  • Digital wallet for business and personal needs;
  • Accepting and sending payments in any currency. Dynamic currency conversion to convert fund in real-time.


Skrill is a digital wallet that allows you to transfer funds both locally and internationally. The company also provides a payment gateway for European merchants. Skrill is one of the most popular payment processing companies in the world.

  • Transfer fee is only 1.45%;
  • Commission for withdrawing funds to a Visa card – 7.5%;

To verify your account in the application, you must complete the following steps:

  • Deposit at least $ 10 to the account;
  • Upload copies of identity documents, or take a selfie using the webcam, holding a piece of paper with the date written and the word “Skrill”.

Skrill advantages:

  • Free registration;
  • Low transaction fees;
  • Cryptocurrency wallet available;
  • Global coverage with all popular payment methods.


TransferWise is an international money transfer operator. The company focuses on providing higher quality banking services at lower prices than traditional banks. To achieve these goals, the company offers its users completely transparent payments and currency conversion in real time, without any extra charge. The company operates in over 70 countries and offers 1300+ transaction routes.
Transaction fee can be calculated on their website. Typically it varies from 0.35% – 0.7% + fixed fee.


Paxum is a popular payment system and digital wallet where users can store funds, link various types of cards, and pay for goods and services. Registration is available for users of any country. The user can open both a personal account and a business.
The company carries out bank transfers, domestic bank payments, bank cards, debit cards, cash payments, ACH, P2P. In addition, the company also issues Paxum prepaid cards. Account registration is available for users of any country.
The user can open both a personal account and a business one.
To verify a personal account, a client must provide: 

  • Documents of identity. A copy of the first page of the passport and information about registration;
  • Proof of residence. You can send a copy of the utility bill.

The documents must be notarized.
To verify a business account, a client must provide: 

  • Proof of a company address;
  • Company registration information;
  • Agreement between Paxum and the client’s company.

Paxum advantages: 

  • Instant transfer between accounts;
  • Fast withdrawals;
  • Low commissions;
  • 24/7 tech. support;
  • No restrictions on transfers between accounts.


Due is a processing company that provides various financial services, including digital wallet, international payment processing, online banking. The company provides solutions to organizations of all sizes and covers 25 countries.
As for the commissions:
Due charges 2.8% for every transaction. The price does not depend on the processing country and is fixed for any transfer. Although the price seems overpriced, it is the only commission charged by Due.


ePayments is an international e-wallet for multicurrency financial transactions. The company provides the ability to make SWIFT and SEPA payments, accept payments from employers and pay for purchases around the world. You can also withdraw funds in any country using the ePayments Prepaid Mastercard. The wallet also works with cryptocurrencies. Commissions:

  • For SEPA transfers, the company charges $ 0.6;
  • International transfer in foreign currency – 0.5%;
  • Local transfer of funds – $ 3.

The bottom line

Choosing an e-wallet may be a challenging task.
First of all, you need to choose a payment system based on the requirements of your business. It is necessary to take into account many factors: what currencies it works with, how easy it is to withdraw funds, what are the fees for the money transfer, whether the company provides local acquiring, are there any additional restrictions?
If you have difficulties with choosing a payment solution for your business or you are planning to register a business in Europe, the PayDo payment system will gladly provide you with the optimal solution.
Don’t hesitate to contact us with any questions.

What is E-Wallet and Why do You Need One?
Stay up-to-date
Get our news earlier than others