Published: 11 February 2000
Analyst(s): Kim S. Underwood
Digital Wallet technology enables online shoppers to store a personal password, a payment method, and shipping data in one place via a merchant's Web form. The data is stored on the users' PC, a third-party server, or at a network level during user registration. When clicking the required icon, users can auto populate a Web checkout form, with the users' stored data. Despite its important function, wallets have not achieved critical success in the pre-millennia payment software market. On the contrary, post-millennia digital wallet vendors have partnered with technology providers, expanding the wallet's services and, in some instances, exposure. Wallet services include online gift registry, customized toolbar, user-tracked loyalty points, e-mail, or free Internet download accelerator. Now that the technology has taken form, the race is on for users and for market share.
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