What is Digital Wallet/E-Wallet and How it Works (Digital Wallet In Hindi)

Digital Wallet Kya Hai In Hindi: In the case of digitization, there has been a new revolution in India in the last few years, everything is becoming digital. Digital wallet or e-wallet is also an example of this. Physical cash is required for making the first payment and for withdrawing the cash. Bank And ATM Had to stand in long lines.

But with the advent of digital wallet, you can go shopping without taking cash, recharge your mobile sitting at home, avail services of online banking, pay various types of bills, almost all types of money related activities. The work can be done with online digital wallet. Digital wallet has solved many problems of the people.

but do you know digital Wallet either E-Wallet what is, E Wallet Work How does Is, E Wallet how many type Of would have been Huh, E Wallet Of Advantages And Harm what Huh And how can you use e-wallet. If not, then definitely read this blog till the end. In this article, we have told you every information related to e-wallet.

So let’s start without wasting time to know more about this article of today E Wallet what Would is in hindi,

What is Digital Wallet or E-Wallet and How it Works (Digital Wallet In Hindi)

What is E-Wallet in Hindi)

The full name of e-wallet is Electronic Wallet, it also has different meanings such as Digital Wallet, Virtual Wallet or also known as Mobile Wallet. It is a type of digital wallet which is used for electronic transaction. In which services like recharge, bill payment, online shopping, ticket booking, online fund transfer are included.

The way you can use the money kept in your wallet, in the same way you can use the money kept in E-Wallet. But you cannot carry or touch the E-Wallet in a physical form like your wallet. It happens in digital form in your mobile phone.

E-Wallet is present in your mobile phone. You can get your E-Wallet opened by downloading the E-Wallet service provider’s app and then your bank account You can link to E-Wallet or add money to E-Wallet and use it to pay for various types of tasks.

To transfer and receive funds from E-Wallet, the government has UPI Introduced payment in which users can transfer funds in real time. In today’s time, there are many companies providing E-Wallet service in the market like Paytm, PhonePe, Google Pay e.t.c.

How Does E-Wallet Work?

There are mainly two parts of E-Wallet, one is Software And another information. When the user wants to use E-Wallet, then he has to install the application ie software of the E-Wallet service provider, in which the user has to give his complete information.

E-Wallet Service Providers keep the complete information of the user such as user name, address, mobile number, amount to be paid, card details, bank account details securely in the software. And a security to the user mPIN provide.

When the user uses E-Wallet for Transaction, after filling the merchant’s information, the option of making payment to the merchant comes in front of the user.

Before making the payment, the user has to enter his security pin and then an OTP is sent to the mobile number from which the user has logged into the software. when the user OTP Only then the payment gets done successfully.

Types of E-Wallet

In the last few years, after the introduction of Digital India, there has been a huge increase in the number of users using Electronic Wallet in India, and along with many new E-Wallet companies have come in the market. Reserve Bank of India (RBI) has divided the companies providing the service of E-Wallet into 4 parts on the basis of their service and work.

  • Closed E-Wallet
  • Open E-Wallet
  • Semi Closed E-Wallet
  • Semi Open E-Wallet

Let us now know about all these one by one.

#1 – Closed E-Wallet

Closed E-Wallet is used to buy services and goods. If you deposit money in Closed E-Wallet, then you cannot withdraw those money, nor can you transfer these money to the bank, hence it is called Closed E-Wallet.

If you add money to buy a product or service in Closed E-Wallet and later cancel the product, then your money will come in the app of the Closed E-Wallet service provider. But you cannot transfer this money back to the bank account, but instead you can buy the service of any other product.

You can use Closed E-Wallet for online shopping on a single website.

#2 – Open E-Wallet

Open E-Wallet is the exact opposite of Closed E-Wallet. This type of E-Wallet provides you the facility to withdraw money and most of the Open E-Wallet service providers also allow you to transfer funds.

Open E-Wallet is linked to your bank account, when you make online purchase using these E-Wallet or send money to any person, then that amount is deducted directly from your bank account. If you want, you can also add money to Open E-Wallet.

#3 – Semi-Closed E-Wallet

Semi Closed E-Wallet is also almost same as Closed E-Wallet. You can also make them version 2.0 of the Closed E-Wallet. You can use Semi Closed E-Wallet for online shopping like Closed E-Wallet. But with this type of E-Wallet, you can shop on different websites.

#4 – Semi-Open E-Wallet

You can use Semi Open E-Wallet for online and offline shopping bills, fund transfer and various types of transactions, but you cannot withdraw money from this E-Wallet. Most of the ones used in our daily life are Semi Open E-Wallets. Like Google Pay, Paytm, PhonePe.

Use of E-Wallet

We keep using E-Wallet for different types of tasks throughout the day. E-Wallet has made banking facility very easy. Following are some of the major uses of E-Wallet.

  • You can shop online with E-Wallet.
  • You can also do your mobile phone recharge, DTH recharge with E-Wallet.
  • With E-Wallet, you can pay various types of bills like electricity, water, gas etc.
  • You can use E-Wallet for online ticket booking. Most of the E-Wallet service providers provide the facility of railway, flight, bus, cab booking etc.
  • With E-Wallet you can transfer money to any bank.
  • If you are a businessman then you can use E-Wallet to receive money.

Advantages of E-Wallet

Following are the major advantages of e-wallet –

  • You can use e-wallet absolutely free.
  • E-wallets are very convenient, as in earlier times, you do not need to go to the bank for everything.
  • With e-wallet you can do transactions in few seconds.
  • You can use e-wallet for various types of services like recharge, bill payment, ticket booking, fund transfer etc.
  • E-wallets provide high security to the user and make every effort to protect the user from being fraud.
  • In e-wallet, there is no fear of getting cut, torn and lost.
  • The record of each transaction is kept safe in the e-wallet, you can track when money is sent, how much money is sent etc.
  • You will not have to share your credit card, debit card or bank account details with anyone for the transaction.
  • You can go out for shopping without a wallet.

Disadvantage of E-Wallet

There are also some disadvantages of e-wallet such as –

  • If the information about your e-wallet gets in the hands of any other person then it will be a big risk for you.
  • You cannot keep large amounts of money in an e-wallet. It has some limitation in different apps.

Some important things to use e-wallet

If you are thinking about using e-wallet or already you are using e-wallet, then you should take care of some important things so that fraud can not happen with you and you can do online transaction in a secure way. .

  • Do not share the login details (username and password) of the e-wallet with any other person.
  • Do not share the security pin of your e-wallet to any person.
  • You enable the SMS alert facility by linking your mobile number with the bank account so that you can get the details of each transaction through the message.
  • Transaction through e-wallet only in secure websites or places.
  • Keep on changing the username and password of your e-wallet account from time to time.
  • Nowadays, from the point of view of security, companies providing e-wallet use OTP (One Time Password), so do not share OTP with anyone.

How to use e-wallet

You need the following basic things to use e-wallet –

  • a smartphone
  • internet connection
  • e wallet app
  • digital literacy

If you have a smartphone Internet You can download the e-wallet app by recharging with the connection, which is very common in today’s time. But you must also be digitally literate to use the e-wallet, then only you can use the digital wallet safely.

If you do not have much information about digital things, then using a digital wallet can also be harmful for you because there are some people on the internet who empty the bank accounts of online people. In the coming days, such cases keep coming to the fore in which people are cheated.

Hence digital literacy is also essential to use online banking or e-wallet. If you have all the above things then you can use the digital wallet as follows.

  • First of all Google Play Store Or download any e-wallet app from the App Store.
  • After that register with your mobile number in the app.
  • Now you have to create a Security Pin, which you should not tell to any other person. Because this PIN is required to complete the transaction in the e-wallet.
  • After creating the Security Pin, you KYC process has to be completed.
  • After that in e-wallet Debit Card, Credit Card Or add money by any other means.
  • Just your e-wallet is ready and you can use the money added to it.

Some companies providing E-Wallet service

Many companies in India provide the facility of digital wallet, some of these major companies are as follows –

  • airtel money
  • Jio money
  • google pay
  • Paytm
  • Phonepe
  • Free recharge
  • MobiKwik
  • PayPal
  • bhim upi
  • Amazon pay
  • HDFC pay Zapp
  • ICICI pockets
  • SBI buddy
  • Ola money etc.

FAQ: E-Wallet

What is the meaning of e-wallet?

E-Wallet is called such software through which electronic transactions are done.

What is another name for e-wallet?

E Wallet is also known as Digital Wallet, Virtual Wallet or Mobile Wallet.

What is the full name of e-wallet?

The full name of e-wallet is electronic wallet.

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Conclusion: What is E-Wallet in Hindi

In today’s article, we have given you a digital wallet i.e. What is E Wallet, How it Works, Types of E Wallet, Advantages and Disadvantages As well as the names of some of the best E Wallet service providers, from where you can get your E Wallet opened.

We hope that this article has proved beneficial for you and you must have learned a lot from this article. In the end, I would request you to share this article with your friends on social media as well.

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