Online wallet

Source: Wikipedia, the free encyclopedia.
E-commerce
Digital content
Retail goods and services
Online shopping
Mobile commerce
Customer service
E-procurement
Purchase-to-pay
Super-apps

An online wallet is a software or web service that allows users to store and control their

address and credit card details. It also provides a method for consumers to purchase products from online retailers.[1]

These systems can be integrated with directly or can be combined with operator and credit card payments through a unified mobile web payment platform. Examples include

Yandex.Money
.

History

English entrepreneur Michael Aldrich invented online shopping in 1979.[2][3] His system connected a modified domestic TV to a real-time transaction processing computer via a domestic telephone line. He believed that videotex, the modified domestic TV technology with a simple menu-driven human–computer interface, was a 'new, universally applicable, participative communication medium — the first since the invention of the telephone.' This enabled 'closed' corporate information systems to be opened to 'outside' correspondents not just for transaction processing but also for e-messaging and information retrieval and dissemination, later known as e-business.[4] His definition of the new mass communications medium as 'participative' [interactive, many-to-many] was fundamentally different from the traditional definitions of mass communication and mass media and a precursor to the social networking on the Internet 25 years later.

In March 1980 he went on to launch Redifon's Office Revolution, which allowed consumers, customers, agents, distributors, suppliers and service companies to be connected on-line to the corporate systems and allow business transactions to be completed electronically in real-time.[5]

During the 1980s

Microsoft MS-DOS
, and were installed mainly in the UK by large corporations.

The first

Amazon.com launched its online shopping site in 1995 and eBay was also introduced in 1995.[8]

Acceptance as a form of payment

Due to slow adoption and high competition, there is currently no one standard online wallet that is universally accepted.

MasterCard Paypass locations within the United States.[10] Conversely, Bitcoin, while accepted internationally, is much less frequently accepted, due in part to its connection to illegal websites like Silk Road (marketplace).[11] Bitcoin can also be held in an online cryptocurrency wallet. It is predicted that in the near future, as the use of online wallets increases, consumer attraction to specific technologies will reduce the number of specific online wallets.[9]

See also

References

  1. ^ "FDIC: Safe Internet Banking". Archived from the original on 10 November 2019. Retrieved 29 June 2016.
  2. OCLC 495479285.{{cite book}}: CS1 maint: others (link
    )
  3. ^ "The Michael Aldrich Archive - E-Commerce, E-Business and Online Shopping". aldricharchive.co.uk. Retrieved 2021-03-13.
  4. ^ "Archived copy" (PDF). Archived from the original (PDF) on 2014-11-27. Retrieved 2022-02-15.{{cite web}}: CS1 maint: archived copy as title (link)
  5. ^ "Archived copy" (PDF). Archived from the original (PDF) on 2012-03-01. Retrieved 2014-03-21.{{cite web}}: CS1 maint: archived copy as title (link)
  6. ^ "Archived copy" (PDF). Archived from the original (PDF) on 2017-11-18. Retrieved 2014-03-21.{{cite web}}: CS1 maint: archived copy as title (link)
  7. ^ "Archived copy" (PDF). Archived from the original (PDF) on 2016-03-03. Retrieved 2014-03-21.{{cite web}}: CS1 maint: archived copy as title (link)
  8. ^ a b c "Archived copy" (PDF). Archived from the original (PDF) on 2014-09-28. Retrieved 2014-03-21.{{cite web}}: CS1 maint: archived copy as title (link)
  9. ^ a b "Mobile Wallet Stalls in 2013: A Look into 2014'S Potential Lucrative Future - Business Wire" (Press release). 25 September 2013. Retrieved 29 June 2016.
  10. ^ "Google Pay - Learn What the Google Pay App is & How to Use It".
  11. TheGuardian.com
    . Retrieved 29 June 2016.
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