Do you prefer to manage your finances from the convenience of your smartphone? If yes, then you might want to take a look at an e-wallet app.
With the shift from cash to contactless payments, e-wallet solutions have been at the forefront of the digital revolution.
And it’s no surprise as digital wallets offer numerous benefits to consumers both in the form of web platforms and mobile apps.
What Is an E-Wallet and What Benefits Does it Offer?
An e-wallet is a prepaid online account that allows users to manage their finances conveniently under one platform.
Accessed via a mobile app or desktop platform, customers can use the digital wallet service to deposit, store, transfer, and withdraw funds online. Alternatively, users can spend their balances directly at the e-wallet solution’s merchant partners.
Digital wallet customers can use multiple payment methods, such as credit and debit cards, cryptocurrency, and bank transfers, to deposit and withdraw funds from their accounts.
As an extra feature, some service providers offer prepaid cards to their customers so they can spend or withdraw their funds conveniently and cost-efficiently.
In addition to the above, digital wallet solutions provide the following benefits to consumers:
- Enhanced security: Cash and credit cards can easily get stolen or lost. On the other hand, e-wallet services feature enhanced security and anti-fraud features, such as biometrics, two-factor authentication (2-FA), and PINs. Besides these, digital wallet services utilize strict Know Your Customer (KYC) and Anti-Money Laundering (AML) checks to protect their customers.
- Convenience: There is no need for consumers to fill out their financial details every time they shop at a merchant. Instead, they can save all their information in their digital wallet accounts. As a result, they only have to click one button or scan a QR code via their smartphones to auto-fill their orders and pay for products online.
- Competitive fees: After depositing funds, consumers can transfer money to other users or pay for products at merchants via the internal network of the e-wallet service. For that reason and due to the lack of intermediaries, digital wallets feature cost-efficient fees.
- Fast transactions: As transactions are processed in service providers’ internal networks, e-wallet transactions reach the recipients instantaneously.
- Crypto payments: E-wallets integrate multiple payment methods under one service. Cryptocurrencies are among these options that offer inexpensive and fast transfers to users due to their decentralized blockchain networks, where transactions are processed without third-parties.
- Access to international services: With global availability, digital wallet solutions allow customers to shop and spend their funds online at international service providers and foreign platforms.
What Is an E-Wallet App and What Are its Benefits?
Consumers use an e-wallet app to access financial service via their mobile devices.
According to Statcounter, mobile users led with a 52.95% market share in November 2020 compared to desktops’ 44.22% and tablets’ 2.83%.
For that reason, mobile applications are in high demand, and most e-wallet services are already offering their apps to their customers.
Below, you can find the benefits of using mobile apps to access e-wallet services:
- Convenient user-experience: While customers can also access the solutions with a web platform, mobile apps are tailored to the users’ devices, offering a more convenient experience on smartphones. Furthermore, with an e-wallet app, consumers can shop on the go, using their mobile devices to pay for their orders easily while on the move.
- Biometric security features: A mobile e-wallet app allows consumers to use their smartphones’ biometrics features, such as fingerprints or facial recognition, to ensure their funds’ safety.
- Cashless in-store payments: With an e-wallet app, consumers can use either Near Field Communication (NFC) technology or their smartphone’s camera to scan QR codes to pay in physical stores without the need to carry their wallets or cash.
Why Choose STICPAY as Your Mobile Digital Wallet?
By now, we have explored what an e-wallet app is and the benefits it offers to consumers. Now let’s see an excellent solution to manage your finances under one platform.
With global availability in over 190 countries, STICPAY is an award-winning e-wallet service that offers cost-efficient fees and fast transfers for its customers.
On STICPAY, customers can use numerous payment methods to deposit and withdraw funds from their accounts, such as:
- Visa
- MasterCard
- UnionPay China
- Local and international bank transfers
- Cryptocurrency (Bitcoin, Litecoin, Ethereum)
Due to STICPAY’s partnerships with multiple financial institutions in Asia, the e-wallet solution offers inexpensive and rapid local bank wire payments to its customers in selected nations, including Malaysia, Indonesia, Singapore, China, South Korea, Japan, and the Philippines.
However, STICPAY has already experienced significant demand for its domestic transfer service. For that reason, the company is working on expanding its coverage for local bank wire payments with further countries and regions shortly.
After funding their accounts, STICPAY customers can use the company’s internal network to transfer money to other users at a competitive 1% fee. Alternatively, they can also spend their balance directly at the digital wallet solution’s merchant partners or withdraw their funds conveniently via the prepaid STIC Card.
Customers can open STICPAY accounts in 29 different national currencies, which allows them to save money on currency conversions.
STICPAY considers security as its first priority. For that reason, the e-wallet service features a wide variety of measures to eliminate fraud and ensure the protection of its customers on the platform. As an additional security layer, STICPAY continuously monitors both end-users and merchants who are subject to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) checks.
Enjoy the Full STICPAY Experience With the Redesigned E-Wallet App
In addition to advanced security and fast, cost-efficient fees, STICPAY puts an emphasis on convenience.
For that reason, the company has recently redesigned its mobile apps for iOS and Android, which are available in 19 languages in addition to the STICPAY web platform.
Inside the STICPAY e-wallet app, customers have instant access to their accounts where they can check their payment history, transaction details, and account status with the ability to receive and send transfers as well as pay for products and services at merchants.
In addition to the above, the revamped STICPAY e-wallet app offers the following features to customers:
- Sleek, intuitive design for convenient finance management via a native e-wallet mobile app
- Additional security level via a PIN code to lock and unlock the e-wallet app
- Clean interface with enhanced navigation
- In-app QR code scanning via the smartphone device’s camera
- KYC document submission without leaving the application
- The ability to verify proof of address documents with geolocation data
How to Download the STICPAY E-Wallet App?
To get started, customers have to download the new STICPAY e-wallet app from the App Store on iOS or Google Play on Android.
After installing the app, users can log in to their existing accounts or register a new one within a few minutes.
Upon filling out the form with their details, new clients have to submit the mandatory KYC and AML documents to STICPAY, for which they can use their smartphones’ camera to take a photo without leaving the app.
If the verification was successful, STICPAY’s customer success team will notify the users who will be able to deposit, hold, send, and withdraw funds from their e-wallet accounts.
Are you ready to manage your finances in a smart way?
Register an account at STICPAY now!
If you have any questions, feel free to reach out to STICPAY’s rockstar customer support team to get your queries answered 24 hours a day.
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Originally published at https://www.sticpay.com on January 7, 2021.
