An e-wallet is an electronic device or online service designed to allow users to store their money in a digital format and use it for online transactions. Users can transfer money from their bank accounts or credit cards to their e-wallets and use this money for online shopping, bill payments or other services that require online payments.

E-wallets are usually accessible via a mobile app or a web-based platform and allow users to make financial transactions quickly and easily. In terms of security, e-wallets are usually protected by encryption, two-factor authentication and other security measures.

E-wallets eliminate the need to carry a physical wallet and offer users the flexibility to make payments anytime and anywhere. They have also become a popular payment method because they are fast and easy to use.