What is a digital wallet?

A digital wallet is a method of electronically storing and using your credit cards - and sometimes other types of cards, tickets, or coupons - so you don’t have to carry the physical cards with you. Instead, they’re stored on your iPhone, Android smartphone, or other smart device like an iPad. You can use your digital wallet to make purchases in physical stores, online, and within apps, and some also let people and businesses send and receive money.