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<p> Digital currencies are becoming ever more relevant, and along with them<br />comes e-wallets. The latest, from computer peripherals <a href="https://www.entrepreneur.com/article/329306">giant Razer</a>, was released in early March to Singapore audiences. As more and more big companies start getting<br />into the e-wallet scene, it’s worth asking the question – will cash and card payments <g class="gr_ gr_13 gr-alert gr_gramm gr_inline_cards gr_disable_anim_appear Grammar multiReplace" id="13" data-gr-id="13">be</g> phased out forever in favor of contactless?</p>
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<figure class="wp-block-image"><img src="https://www.gadgetgyani.com/wp-content/uploads/2019/03/Screenshot_6-1024x578.jpg" alt="" class="wp-image-16135"/></figure>
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<h3>The expanding market</h3>
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<p>A rising adaptation of e-wallet technology is driving the growth of the<br />market. There are countless currencies for different companies now, and<br />technology is expanding, too; one <a href="https://www.gobear.com/my/blog/8-popular-e-wallets-trending-in-malaysia-right-now">e-wallet offers QR code payments</a><br />another level of convenience up from contactless. In terms of the future<br />outlook for <g class="gr_ gr_10 gr-alert gr_gramm gr_inline_cards gr_run_anim Grammar only-del replaceWithoutSep" id="10" data-gr-id="10">the technology</g>, the signs are good. In January, banking giant<br />HSBC started testing a system in Hong Kong. This indicates a clear appetite<br />from big industry to get in on the action.</p>
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<h3>Is it proving successful?</h3>
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<p>The ever-expanding number of retailers looking to start using e-wallets<br />indicates that there is a lot of promise for the technology. The main<br />barrier that is providing ever-wider use of the technology is security<br />fears. However, these appear to have already been answered, at least in<br />part. Last year, <a href="https://www.cnbc.com/2018/03/02/digital-wallets-are-safe-yet-americans-remain-wary.html">CNBC outlined</a> in detail how the technology is safe and<br />ever improving.<br />Impressing this message on would-be consumers will be important in cracking<br />new markets, especially the USA, which has been famously slow on taking up<br />contactless technology.</p>
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<h3>E-wallets could become the new norm</h3>
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<p>The technology and market forces are there to back up e wallets becoming<br />the new norm, and research suggests this will be the reality, too.<br />According to a 2018 report by consumer analysts Retail Dive, 66% of<br />Americans believe that smartphone wallet payments will entirely replace<br />card and cash. While this only covered the US market, it is noted that the<br />US is surprisingly reticent when it comes to taking on smart payments of<br />this ilk. Furthermore, the US market is often influential in inspiring<br />international trends. Accordingly, this finding can be seen as a bellwether<br />for the future.</p>
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<p>With that in mind, it may well be time to start switching to the e-wallet.<br />More and more retailers are taking to the technology and it might be a<br />matter of time before preferential rates are offered through their<br />currency. Uptake might be slow in the US, but when it does happen, you can<br />expect most countries to fall in line, too.<br /></p>
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