Chances are that if you’ve bought anything online recently, especially if the company you were buying from was based abroad, you have used an E-Wallet of some variety. A few years ago the only ones widely available and known about by the general public were mainstays of the online payment sector such as PayPal, but all that is now changing, especially due to the rise in popularity of cryptocurrencies like Bitcoin and Litecoin. So, which are the E-Wallets you should be taking note of and what can they do for you that other online payment systems cannot? Cast your eyes south of this picture of a businessman sending his virtual cash east.
Skrill started life being known as Moneybookers, a payment option for customers of betting sites, but has quickly diversified its customer base to attract people looking to make all manner of online transactions. The app scores highly on comparison websites, with users glowing about how trustworthy the E-Wallet is, which means that making a deposit never has to feel like a gamble.
The only downside we were able to find is that its “Skrill to Skrill” app service is poor, meaning customers are better off using the “Skrill Money Transfer” app instead. That said, there are more than enough positives to outweigh the negatives, with users able to buy and sell crypto currencies with ease, market leading payment and transfer fees, all backed up by state-of-the-art risk and anti-fraud technology. All-in-all, whether you’re a PokerStars player who’s always used the service, a Bitcoin aficionado eager to trade or someone who just wants to sign up to Netflix, Skrill will have you covered.
Another well established E-Wallet is Neteller, which offers many of the same services as Skrill, but with the added benefit of also providing their users with pre-paid physical Mastercard card. This is particularly useful if you’re out and about and need to access the funds in your E-Wallet but can only use a traditional bank card. Neteller offer two varieties: the first called the Net+ Mastercard and the second named the Net+ Virtual Mastercard. While the former is a standard card, the latter is handy because you don’t have to pay to have the card delivered because it lives digitally on your phone or desktop. You can also own five separate Net+ Virtual Mastercards, all that function in different currencies, which is perfect for those who like to travel or do business on the move. The only downside to the Neteller service is that is has attracted some rather negative reviews in recent months.
This relative new boy on the e-wallet scene, Adyen, are a Dutch company who sent shockwaves through the business world in 2018 when Ebay announced they would be using the Dutch start-up down the line instead of PayPal. Since then the Adyen E-Wallet has become a tried and tested player in the field. Its only downside is that for the moment it appears to be more popular amongst businesses rather than individual members of the public, but that may change soon if its reputation continues to grow.
Although not strictly speaking classed as an E-Wallet, Gyft is interesting in that it allows you to share funds extremely quickly amongst your already-existing network of friends, performing many of the functions an E-Wallet would in the process. Everything is done via the highly intuitive Gyft app, meaning that there’s no messing around with tricky sign-up processes or troublesome technical jargon. Simply download the app and start spreading your wealth to those you know that need it.
Last but obviously not least comes the grand daddy of E-Wallets, the original, Paypal. For a long time, PayPal benefitted from having cornered the market, with seemingly all online transactions going via its platform. However, as competitors snap at its heals and the dizzying number of negative online reviews take their toll, it’s hard to see PayPal maintaining its grip on the E-Wallet sector for long.