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Digital Thin Wallet Solutions

Digital thin wallet solutions are a completely digital way for businesses or users to exchange financial information. Rather than using a physical payment card, the digital wallet stores the information from the card. Some digital wallets allow users to store multiple card details or even bank details for direct bank transfers. Normally, these wallets are accessed via a secure login. The security of digital wallets is managed by the provider, usually a third-party financial services provider. Thin digital wallets are services that only work with a single provider. An example would be a mobile app that allows users to pay their bills with a particular merchant.

What Small and Midsize Businesses Need to Know About Digital Thin Wallet Solutions

Many SMBs set up thin digital wallets to allow their users or clients to pay for services with ease. Some businesses may opt for “broad” digital wallet services, such as Apple Pay or PayPal, as these have an established reputation.

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