E-wallets have added to your mobile devices. also,

E-wallets are used to initiate mobile payments, and is supported by QR technology. An e-wallet has both the software and information component. The software offers security and encryption for the confidential information during transaction and adding of personal bank cards to the app. In order to incorporate the payment function within the e-wallet, we need to have heavy use of modern encryption technology to enhance mobile wallet security. The information component is a database of details provided by the user which includes their name, account information, payment method, amount to be paid, credit or debit card details. The database we will be implementing is firebase which provides real time database and backend as a service  . Once the app is installed and the user inputs his payment information, the wallet stores this information by linking a personal identification format like a number or key, QR code or an image of the owner to each card that is stored.

In the contest of QR code, the e-wallet allow users to encrypt payments into secure QR code. This code is stored in the cloud, and users are able to scan it when making purchases. Tokenization for verification purposes when adding their debit cards, the users will get the one-time number received from their mobile phones in order to carry out their transactions. Besides this, a biometric technology – fingerprint, is used to verify the identity of the user while making the payment.

When you are ready to make the payment for the particular good or services, the app will prompt you for the touch ID, which is the fingerprint you have added to your mobile devices. Also, a camera and QR code scanner plugins must be implemented for the settlement of payment. Besides that, an API (application programming interface) will be used as a method of communication between third parties and online bank systems. It uses HTTP request to get, post and delete data. By using the API and the app are granted the authorization to allow the users to make payment and adding of debit cards as well as topping up of money in the e-wallet. A payment gateway authorizes electronic credit card and debit card payments to provide seamless payment processing for businesses.

It is similar to a POS terminal found in many retail establishments. Payment gateways encrypt and store sensitive data, including credit card numbers, CVV information and name, ensuring that confidential information in the e-wallet is safe while processing payments. These gateways are also responsible for transferring payment information to the customer’s acquiring bank. Payment gateways reduce a business’ liability and ensure that payments are processed securely..