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Get to Know E-Money, E-Wallet And Thier Differences

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E-Money service utilises a chip-based system that is embedded in a card the size of an ATM. E-Wallet uses server-based digital technology...


In this era of globalisation, we are continuously encouraged to adapt to technological developments. One of them is the use of an E-Wallet or digital wallet as an integrated payment tool.

So, what is an E-Wallet? How does it work and use?

In general, E-Wallet is a system developed to make it easier for users to manage transactions. Apart from the pros and cons related to technological adaptation, currently the presence of E-Wallet itself is considered to be able to have a positive effect on everyday life.

For example, if in the past shopping and saving money was done through banks, now people can now transact legally using the integrated E-Wallet application.

What is an E-Wallet?

Based on Wikipedia, the meaning of E-Wallet is an electronic service for storing payment instrument data, including payment instruments using cards and/or electronic money, which can also accommodate funds, to make payments. E-Wallet can also be a software program, application or even a service that is created to store digital money and make online transactions between users.

Advantages of Using E-Wallet

1. Avoid Counterfeit Money

One of the advantages of E-Wallet is that it is able to reduce the circulation of counterfeit money. The reason is, digital money technology that is stored on E-Wallet is still very difficult to penetrate from a security point of view.

Every digital transaction, both buyers and sellers also don't need to think about change because E-wallets can cut the balance to the number of decimals according to the amount of payment.

2. Faster Transactions

When compared to using conventional money, the transaction process using an E-Wallet is relatively much faster. To pay, the buyer only needs to scan the barcode provided by the seller, without the need to open his wallet or count the money according to the amount required.

3. Minimise the Spread of Viruses / Bacteria

In the midst of the current state of the COVID-19 coronavirus pandemic, using E-Wallet can minimize indirect contact with other people. In fact, the government officially provides recommendations regarding this matter in order to prevent the spread of the virus through cash.

4. More Practical

Have you ever forgotten to bring your wallet when you reach the store cashier? Now, with the E-Wallet, you don't need to worry when you forget to bring your wallet or cash when shopping, because payments can be made with the E-Wallet application that can be installed on a smartphone.

5. Complete Transaction History

The existence of a transaction history recording feature is an interesting feature of E-Wallet. With a clear transaction history, people can more easily track every expense and income.

Disadvantages of Using E-Wallet


1. Merchant Still Limited

One of the shortcomings of E-Wallet is the lack of merchants that accept digital transactions. This is due to the lack of internet infrastructure. However, over time, we can be sure that more and more merchants will accept payments via E-Wallet.

2. There is a Transaction Fee

As we know, some E-wallets still charge administrative fees for each transaction. This transaction fee is different for each E-Wallet application.

3. Become More Consumptive

Unlike cash, which feels reduced when used for shopping, digital money such as E-Wallet tends to be imperceptible after being used. This automatically encourages users to shop more and be more wasteful than usual.

The difference between E-Money and E-Wallet


1. Chip Based vs Server Based

Even though they are both included in the digital money category, E-Money and E-Wallet have different technologies. For E-Money, this service utilises a chip-based system that is embedded in a card the size of an ATM.

Meanwhile, E-Wallet uses server-based digital technology which is executed using an application. Unlike E-Money, E-Wallet users must be connected to the internet and service providers in order to be used.

2. Maximum Balance Amount

The next difference between E-Money and E-Wallet lies in the maximum amount of balance that can be entered. This generally depends upon laws governing the platforms in a particular country.

3. Flexibility

When it comes to flexibility, E-Money is currently superior to E-Wallet. The reason is, E-Money has been widely accepted as a means of everyday payment. Starting from filling up fuel, shopping at minimarkets, paying tolls, to buying entertainment tickets.

So, you don't need to worry anymore if you are lazy to go to an ATM or don't have a bank account, because cloud hosting or domain name bills can be paid through an E-Wallet account. Very interesting right?

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FAQ: Get to Know E-Money, E-Wallet And Thier Differences
Get to Know E-Money, E-Wallet And Thier Differences
E-Money service utilises a chip-based system that is embedded in a card the size of an ATM. E-Wallet uses server-based digital technology...
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