Using an e-wallet for making international payment transactions

Our cellphones are now part of our daily lives. When before, phones were used primarily for verbal communication, nowadays, they can do more when connected to the internet. Our mobile devices open the lines of communication like never before. We can make calls, send texts, and then go online to chat or call using audio-only or video chat. We may also send emails and do so many other things to communicate online.


Electronic messages 

When we use our phones make a payment transaction, many people do not realize that there is also communication going on. When we use an electronic wallet to make a contactless payment transaction, the communication is done electronically from our phone to the terminal. Then, the terminal will receive the payment transaction details and an encrypted message will be sent to complete the payment transaction. In the short while that it takes for a transaction to be completed, the communication would have happened from the phone, initiated by the payee, to the terminal, to the payment processor, then to the retailer’s account. 

When making an online payment 

When making an online payment at a website, there is also a communication process that happens. After clicking the submit button, there is that virtual payment terminal. The payment transaction details are sent as an encrypted message and then, the transaction is completed by the payment processor. 


Communication is not necessarily done in a language that we can all understand. There are electronic means of communication that brings about such payment transactions. Most of these “messages” are sent in an encrypted code that is typically a series of randomly generated letters, numbers, and character strings. In the eventuality that the coded message is obtained by a cybercriminal, it makes it more difficult for them to get the funds. There are other ways that fraudulent transactions can occur such as that of making an online payment to a scam website.

An e-wallet 

When we use our cellphones as an e-wallet, what we are using is that of a peer-to-peer application. These e-wallets can only be used for transactions when both the payee and the payer have an account with the e-wallet provider. The communication for making a payment transaction is basically the same as that of making a contactless terminal. An e-wallet can also be used to make an online payment at sites or apps that accept that e-wallet for making a payment transaction. There are many financial services nowadays that are e-wallets. These make it much easier for a lot of people to have financial inclusion. Those who do not have a bank account might find it much easier to get a verified e-wallet account as the requirements for opening an account are less strict. 

International payment app 

However, there are several e-wallets that can only be used to make domestic transactions. There are a few popular ones that are for international transactions but then, those may make it difficult to obtain an account because of the requirements. These is a payment provider that has an e-wallet that is much easier to get approval for. It can be used for making international payments. The advantage of using this e-wallet rather than those other e-wallets is that you can send an unlimited number of payment transactions, unlike the popular ones that limit the amount that can be remitted.