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Methods for service and product payment evolve quickly in the ecommerce world. Through constant innovations, payments become more efficient and convenient for buyers using online platforms. Sellers gain, too, with improved navigation systems for processing that help bridge differences in currencies, taxation laws, and the transfer of funds. Perhaps the most popular method that provides both buyers and sellers with a streamlined, no fuss payment experience is through various “wallets.”
While this story focused on Latin America, it has applicability everywhere. What is the difference between an e-wallet, mobile wallet, a prepaid wallet, and a digital wallet? Add to the conversation cryptocurrencies and your head can literally spin off of your shoulders! It’s an interesting topic and one that our affiliate, the Delaware Retail Council, will dig into. And while not every State Chamber member is a “consumer-facing business,” all of us are consumers and need to better understand these changes—the opportunities and risks.
