Digital Wallet Advantages and Disadvantages

A digital wallet makes our shopping life easier. If you have a digital wallet, you don’t need to bring your physical credit and debit card or cash. As long as you have funds in your digital wallet, you can use it to shop conveniently. However, even though it provides convenience in your shopping experience, it also has a downside if you don’t use it properly or not take care of it. If you’re planning to use a digital wallet, it is important to know the digital wallet advantages and disadvantages.

List of Digital Wallet Advantages and Disadvantages


Convenient way of paying

If you have a digital wallet, there’s no need for you to bring your cards all the time. As long as you have a balance in your digital wallet, you can use it easily.

Save time

If you use a digital wallet, paying will only take less than a minute unlike when you use a card or cash. Especially when it comes to online shopping, you will definitely experience how convenient it is to use a digital wallet.

Keep track of your expenses

If you use a digital wallet to pay for your purchases, it will store all the transactions in the app you use. Meaning you can analyze and check it anytime you want.

Receive rewards

Some of the digital wallet platforms give rewards and bonuses for every transaction which is great because you can experience a convenient way of paying and receive rewards at the same time.


Impulsive buying

A digital wallet might trigger you to buy impulsively. Let’s all admit it, it’s tempting to buy something online because you can’t see and touch the money you will spend and you can access your digital wallet funds anytime and anywhere you prefer.

Requires internet connection

A digital wallet will not function if you don’t have an internet connection. So to be able to use it, you must be connected to the internet every time you want to use the app.

Limited stores

When it comes to online shopping, you can use your digital wallet anytime. However, if you want to use it in a physical store, some will accept but some will not. Not all physical store accepts payment from a digital wallet.

Can not be use world wide

Unlike credit cards and debit cards, digital wallets can not be used worldwide. You can definitely use it in the Philippines but not in other countries because they might not accept it.

As a final point, even if it has disadvantages, a digital wallet is still a good platform that’s why it’s gaining popularity. But, make sure to be very careful when using it as it can be hacked. Make sure not to share your personal information with anyone if not necessary. In addition, make sure to use a strong password for your digital wallet and use two-factor authentication if available.

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