Mobile Wallet:A digital container running on a smartphone that is designed to keep together and manage use of payment cards,tickets,loyalty cards,vouchers and receipts.
Smart card:A plastic card of the size of a credit card with integrated circuits built in and chips embedded in the plastic.Electronic cash(e-cash) is provided with cards filled electronically at a bank's cashpoint or bought pre-filled or filled by using the telephone.
Uses of Smart card:
It is used in fare collection in mass transit systems,road toll collection,personal identification,driving licences and patient card schemes as well as SIM cards(Subscriber Identity Module) in mobile phones.
Example of Mobile Wallet:
The introduction of ApplePay by Apple Inc allows users of Iphones and other devices to make payments from their digital or mobile wallets and to keep payment information private from retailers.
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