# Digital Wallet

*Banking & Payments — Finicade finance glossary*

A digital wallet stores payment credentials on a device and authorises payments with biometrics, transmitting a token rather than a card number. It's meaningfully more secure than a physical card and has shifted the customer relationship towards device makers, who now sit between the bank and the payment. In several Asian markets wallets have effectively replaced cards as the primary rail.

**Also known as:** mobile wallet, Apple Pay, Google Pay, e-wallet

**Related terms:** [Tokenization](https://finicade.com/glossary/tokenization), [Peer-to-Peer Payments](https://finicade.com/glossary/peer-to-peer-payments), [Card Network](https://finicade.com/glossary/card-network), [Neobank](https://finicade.com/glossary/neobank), [Debit Card](https://finicade.com/glossary/debit-card)

Source: https://finicade.com/glossary/digital-wallet