25 Jul 2022 By PAYCEC
There are 4 types of digital wallets: closed, semi-closed, and open.
Closed wallets: are produced by companies, and can only be used to transfer funds between the user and wallet-issuer, such as Amazon Pay.
Semi-closed wallets: are for users making transactions at a given list of merchants.
Open wallets: are issued by banks or their partners, and can be used for any kind of transaction, including ATM withdrawals.
Crypto wallets: are a unique kind of wallet used to store your cryptocurrency passwords in one central place. They allow you to manage all your currencies in one place, send and receive money, and even shop at stores that accept crypto.
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