Published: 21 March 2000
Analyst(s): Ellen P. Walsh
There has been a lot of confusion in the marketplace about what an e-wallet is and what services it performs. Prior to the e-wallet standard ECML, users had to fill out forms with shipping and credit card information each time they visited a site. This was time consuming and led to high shopping abandonment rates. E-wallets allow the consumer to register and enter information once into a form and then either have the e-wallet track that information and autopopulate forms or drag and drop the e-wallet to the merchant site and have it autopopulate forms. Any merchant doing electronic transactions over the Web or financial institutions that support credit card payments should understand the basics of e-wallet functionality.
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