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      GuidesPlanning & BudgetingWhat Do You Need to Know About E-Wallets?
      • Introduction 1

        • Lecture1.1
          Summary
      • Deep, deep dive 8

        • Lecture2.1
          How do e-wallets work?
        • Lecture2.2
          How many types of e-wallets are there?
        • Lecture2.3
          What can you use an e-wallet for?
        • Lecture2.4
          What are the pros and cons of using an e-wallet?
        • Lecture2.5
          How safe are e-wallets?
        • Lecture2.6
          What else do you need to know about your e-wallet?
        • Lecture2.7
          How to set up and use an e-wallet?
        • Lecture2.8
          How do you maximise the use of e-wallets?

        What can you use an e-wallet for?

        Payments

        In short, you could pay for almost anything with an e-wallet, like bills, groceries, meals in restaurants, petrol, mobile phone top-ups, and many more. 

         

        Some e-wallets also have their specific advantages. For example, a Touch ’n’ Go e-wallet can be used to pay for tolls. If you’ve got a Touch ‘n’ Go card, you could get a Touch ‘n’ Go e-wallet and reload your card through the e-wallet. You could also do this if you’ve installed RFID for your car. 

         

        Aside from basic payments, the Boost e-wallet offers access to a wide range of features from investment to vehicle maintenance. With GrabPay, you could pay for your e-hailing rides, food delivery and so on. 

         

        So, depending on your lifestyle, different e-wallets would have different uses. 

         

        Transfers

        You could also transfer money to your friends who use e-wallets. However, as of now, you can only transfer money to other users of the same e-wallet. 

         

        There are a few ways you could transfer money. With some e-wallets, you’ll have to give the e-wallet access to your phone contacts. The e-wallet will then be able to identify which of your contacts has the same e-wallet. Then you can send money to any of those contacts. 

         

        There are some e-wallets that allow you to transfer money via a QR code. You will have to scan the other person’s e-wallet to transfer money to them.

        Prev How many types of e-wallets are there?
        Next What are the pros and cons of using an e-wallet?

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