E-Wallets allows cardholders to store multiple credit cards and bank account numbers in a secure environment. E-wallets save cardholders the need to enter full credit card details when making a payment submission; instead, the cardholder submits the e-Wallet access credentials.
Credit cards vs. e-wallets: returning customers
As opposed to e-wallet payments, online credit card payments necessitate typing in full credit card details in the payment checkout page.
To improve the purchasing experience of returning users, many websites offer cardholders the option of securely storing their credit card details. When customers make their first transaction, their card is stored. The next time the customers logs in, they do not need to re-enter their payment details. Instead, they can select a payment method from a list of previously stored payment methods.