A computer database or online site that stores a person’s name, address, and credit card data and then enables easy retrieval of that information for online purchases.
According to Jupiter Communications, 27 percent of consumers abandon the items they put into a online shopping basket because they find filling out the forms too exasperating.
The e-wallet is designed to make online shopping more convenient by allowing consumers to store all their credit card and shipping information in a single spot.
—“Microsoft Opening Its E-Wallet,” The San Francisco Chronicle, October 11, 1999
The emerging generation of e-wallets focus on speeding up the process of online shopping, reducing the number of forms to be filled in, and managing the kind of personal information Internet shoppers feel nervous about giving to a raft of separate Web sites.
—Sue Lowe, “CDT to open Australia’s first e-wallet,” Sydney Morning Herald (Australia), July 22, 1999
As for consumers, their present charge-back privileges aren’t obviated when using SET wallets (although, again, the ease of finding SET transactions will vary in the beginning; you may even temporarily find yourself with more than one SET wallet in your virtual purse—a contradiction of the whole e-wallet concept).
—Joshua Wertheim, “Soon, Your Credit Card Will Be Safer on the Net Than in a Store,” Computer Shopper, May 1, 1998
Before the end of this year, it could go like this in parts of Ontario and Quebec: You ask for the $10 and she hands over a plastic card onto which she’s downloaded cash from an automated banking machine. You pull out an electronic wallet (about the size of an electronic pocket organizer). She slides her card through a slot in your e-wallet, fiddles with the keyboard, and the $10 is transferred to your account.
—Terrence Belford, “Telephone companies mastermind the e-wallet,” The Financial Post (Toronto, Canada), March 14, 1996