Digital wallet

Digital wallet

DEFINITION of ‘Digital wallet’

Driven by explosion in smartphone usage in all aspects of daily life, companies and financial institutions see the benefit of offering a way to carry payment information on those phones by means of digital wallets. As people are increasingly shopping through their phones new ways of mobile payment are strongly required. Technology known as digital wallet allows consumers to transfer money electronically from personal accounts in order to pay for goods or services using a range of programs. Besides that, digital wallets can accumulate loyalty cards information and digital coupons. This financial solution, also called an e-wallet, offers customers a feature-rich, secure and convenient payment mean. 

BREAKING DOWN ‘Digital wallet’

The basic premise of e-wallet to store a consumers’ payment information securely and compactly has brought a wide choice of digital options for shoppers wishing to replace the traditional wallet. Moreover, digital wallets give a potential boon to companies collecting and processing consumers’ data. The more companies know about their customers ‘purchasing habits, the more effectively they can market to them. Loss of privacy is the only downside for e-wallet consumers for now.

2022-12-07 • Updated

Frequently asked questions

  • How to start trading?

    If you are 18+ years old, you can join FBS and begin your FX journey. To trade, you need a brokerage account and sufficient knowledge on how assets behave in the financial markets. Start with studying the basics with our free educational materials and creating an FBS account. You may want to test the environment with virtual money with a Demo account. Once you are ready, enter the real market and trade to succeed.

  • How to open an FBS account?

    Click the 'Open account' button on our website and proceed to the Trader Area. Before you can start trading, pass a profile verification. Confirm your email and phone number, get your ID verified. This procedure guarantees the safety of your funds and identity. Once you are done with all the checks, go to the preferred trading platform, and start trading.

  • How to withdraw the money you earned with FBS?

    The procedure is very straightforward. Go to the Withdrawal page on the website or the Finances section of the FBS Trader Area and access Withdrawal. You can get the earned money via the same payment system that you used for depositing. In case you funded the account via various methods, withdraw your profit via the same methods in the ratio according to the deposited sums.

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