An eWallet is a virtual wallet that allows users to store funds on digital platforms. In the further course, the credit stored there can then be used for payment transactions on the Internet. The operators of such platforms are regulated in the European un ion as so-called e-money institutions. There are several synonyms for the term eWallet, such as electronic wallet or digital wallet.
In order to use an eWallet, users must first load the electronic wallet with funds. The loading can usually be done by bank transfer or credit card. A major advantage of eWallets is that transactions can be carried out much faster than, for example, with a classic bank transfer. In addition, there is the fact that payments with eWallets usually (if at all) incur much lower fees.
In Germany, PayPal is one of the best-known and most widespread eWallets. Worldwide, there were more than 377 million PayPal customer accounts in use at the end of 2020. The eWallets Skrill and Neteller are also very popular. At the same time, these are also very common payment methods in online casinos and online gaming arcades. In this regard, however, players should know that the use of these two eWallets often results in the fact that no more bonus offers can be used in online casinos.