E-Wallets

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E-Wallets
Your Logo Here

• Jennifer Hart

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Why We Need E-Wallets

• For frequent online shoppers, it becomes a
  hassle to fill out order forms with the same
  information on them for every item you purchase.
  Wouldnt it be nice if this information could be
  handled automatically for you?

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What E-Wallets Are

• An Electronic Wallet is any device or software
  which allows a user to store, manipulate, and pay
  with various types of payment instruments such as
  electronic cash and credit cards. They make it
  unnecessary to retype credit card numbers and
  addresses each time a purchase is made.
• Most E-Wallets are software programs that run on
  a users personal computer.
• Soon they will be integrated into a variety of
  devices, such as cell phones and PDAs.

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Choose Your Wallet

• There are many different companies offering
  E-Wallets. Although each one is a little
  different, they all perform the same basic tasks.
• The following companies offer softwareGatoreWal
  letQpassBuyWiz

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Positive

• The easier your site is for customers to purchase
  items, the more they will buy
• Buyers dont have to type in repetitive
  information.

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Negative

• Some eWallets only work with certain browsers.
• What happens if your disk crashes?
• Some say this service rarely works

And what about security???????
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Security

• Your information is protected with a password
  that you choose. Then when you shop at an
  Internet store the site will prompt you to select
  a payment method from your wallet and to
  authorize it by typing your password.
• Many newly released E-Wallets will use a new
  standard called the Electronics Commerce Modeling
  Language (ECML) that will work with any web
  security software.

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Questions
What is an electronic wallet? Name a company that
offers this service? What is one advantage to
having an e-wallet? What is one
disadvantage? What kind of security is offered
for this service?