The best digital wallets of 2021
Even before the beginning of 2020 and before the coronavirus period, e-wallet payment was one of the popular ways to pay for goods and services quickly and reliably. After the onset of the pandemic, e-wallets for bank transfers became so common that they almost became the most popular payment method in Europe, if not the entire world.
So why have electronic wallets in Europe become so popular? This question is quite simple because everyone seeks to make any operation as simple, convenient, and fast as possible. If we add to all these advantages a high degree of security of payment, the choice of payment for goods will be obvious.
And yet, the system of electronic wallets is not as simple as it may seem. After all, along with many advantages, many wallets also have disadvantages that make their use less profitable than users would like it to be.
This article will consider which e-wallet is best suited for various purposes. We’ll also examine why these wallets will play a crucial role in the payment system shortly.
The rise in popularity of electronic wallets
71 billion dollars. It is the volume of electronic payments processed in 2020. Of course, paying with digital wallets has been in high demand before. Still, such incredible figures were only achieved in 2020, when many businesses went online and accepted payments from customers remotely. People were simply forced to stay at home, but their basic needs didn’t disappear. They still wanted to eat, buy clothes, buy various goods, and use services, and they chose e-wallets as a payment method.
It would seem that today, in 2021, the topic of covid-19 has slowly begun to move away from the mainstream. People went to work, mass events were allowed. One would assume that the volume of e-wallet payments would now fall to the 2019 figure, but there’s no way around it. Already today, many reputable experts say that up to 2025, every year, the volume of digital payments will increase by 12-15%. On the one hand, people now have the opportunity, as before, to pay for goods in cash, but only during the pandemic were they so able to appreciate the convenience, reliability, and safety of electronic wallets that now do not even consider another option for payment.
People wouldn’t use e-wallets if they didn’t see tangible benefits for themselves. Let’s take a look at a few of the benefits of using e-wallets:
- They are very convenient. It is probably the main reason why millions of people around the world choose this method of payment. Just think, why carry around a wallet that literally tears here a considerable amount of money and cards, and which you can always lose along with that money when you can pay much easier and faster with an e-wallet for any goods and services. Even if you have a habit of forgetting your wallet at home, you just need to have your smartphone handy, and you can easily make a payment without worrying about anything.
- High security. Many skeptics accuse e-wallets of being easy enough to hack. It has nothing to do with the truth. If the user does not give anyone his password or device with which to make a payment e-wallet and does not violate other security rules, in this case, the e-wallet will be one of the safest ways to pay.
- You will not have to take your eyes off your usual business. Indeed you often do many things with your smartphone. And that’s precisely the smartphone you need to make payments with electronic money. That way, you don’t have to be distracted by any other activities.
And right now, we’ll take a look at the best e-wallets for specific purposes.
The best international e-wallets
If you need a universal payment solution – PayDo is what you really need. The company operates as an internet banking, offering a wide range of solutions, including e-wallet, European IBAN, credit card processing servcies, etc. Since PayDo collaborates with leading European banks, it offers a vast amount of payment methods (more than 300) to cover all potential clients atound the globe.
Who can work with PayDo? Legal entities and individuals. The service allows users to send/receive payments through bank transfers and alternative payment methods, process transactions on a website, store and withdraw money to the card of almost any bank, exchange currency, etc.
PayDo works with many businesses, including complex ones.
Benefits for personal virtual banking:
- Receive and send money from/in more than 170 countries.
- Pay for goods and services.
- Purchase from 2500 online merchants accepting PayDo wallet.
- Top up your PayDo balance.
- SEPA, TARGET2, SWIFT transfers.
- Make payments within European countries.
Benefits for business virtual banking:
- Manage all payments through a single account from anywhere – 24/7;
- Target2 & SEPA, SWIFT payments.
- Use international money transfers for business needs.
- PayDo Quick Checkout.Top-up e-wallet and pay from the balance.
- Transfers between PayDo users, B2B bank transfers, alternative payment options, withdrawals.
- Accept payments online.
- Accept and send payments globally without hidden fees.
If you need to make a transaction in yen, euros, dollars, pounds, Canadian and Australian dollars, and other currencies, you can always make a transfer using Payoneer. And it will be so fast and convenient as if you already have an account in the receiving country. However, you can still open a free account with this system. A definite advantage is the availability of minimum fees. If you order the Payoneer card, you will pay for any goods and services without any problems, withdraw money from ATMs, etc.
This system’s wallet you will be able to get in just one click. You will not need to go through a long registration. As long as the account is active, you will not have to pay monthly maintenance fees. The tariffs for transferring funds and replenishing your account are very loyal. But please note that if you don’t make any transactions in a year, you will have to pay a fee of 1 dollar 67 cents per month. To fund your account in this system, you’ll have a huge choice of ways to pay. It’s effortless to do, and you don’t have to wait a long time for the funds to be credited.
The best e-wallet for gambling
The wallet is one of the most popular among gamblers. It allows you to quickly deposit and withdraw money without overpaying for commission, which is the most essential factor of its choice for gamers. Players also have the opportunity to issue a Skrill MasterCard and cash out their money even faster. When depositing, the user will need to pay a fee of 1.9% of the amount. When transferring money to another wallet, the sender will not be charged a big commission at all, maximum 50 cents. If you regularly use this wallet, you can get VIP status and save even more on fees.
Payment with the help of this wallet is accepted by almost all bookmakers’ offices in the world. The commission here is also low, and some countries can even use this wallet for free. It is possible to issue a withdrawal card. If we talk about specific rates, recharging a Neteller account with a debit card will cost 3.9% of the amount. 1.9% of the amount you will pay a commission for peer-to-peer transfers.
The best electronic wallet for cryptocurrency
A popular cryptocurrency exchange has created a convenient and secure wallet for its users. It is already used by more than 35 million people to quickly and with a minimal fee to buy cryptocurrency, which is becoming more popular every day. If you choose to use Coinbase Pro, you can pay a few cents commission on all transactions. If you are into cryptocurrency trading, you will be pleased with the user interface of this exchange, as well as the availability of the most popular indicators. At the same time, unlike many other online wallets, storing your money on Coinbase guarantees its safety. It is made possible that 98% of all user funds the exchange keeps on its cold wallets. Even if intruders can hack this exchange, they will not be able to steal users’ money.
Another commonly used e-wallet for storing cryptocurrencies. Refill it can be very fast and convenient, and the exchange itself uses the most modern security means for the safe clients’ money. In addition to the wallet, the exchange provides the ability to track cryptocurrency rates in real-time to make the right decisions or be aware of the latest trends in the crypto market.
The best electronic wallets for third-party payments
361 million users already use this wallet today to make all kinds of payments. This wallet is good not only with fair deposit and withdrawal fees but also with additional options. You can quickly attach any bank account or card to this wallet. It is possible to make purchases from it in a few simple steps. And, of course, it is impossible not to note the highest degree of convenience, which is felt with each payment.
2. Amazon Pay
Today, billions of people all over the world have an Amazon account. Using Amazon Pay will be convenient for these people because, with every payment, you don’t have to enter any data. They will all be automatically tied up from your account.
In general, it’s worth noting that using e-wallets is an economical, fast and convenient way to pay for any goods and services. But before you use one of the wallets, be sure to clarify all the nuances, in particular, whether the commission is not charged for its use or non-use, what functions it will provide you, how quickly the funds will be credited to the wallet, etc. And, of course, it is better to have several wallets at once for convenience.