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An online wallet is a program or web service that allows users to store and control their online shopping information, like logins, passwords, shipping address and credit card details, in one central place. It also provides a convenient and technologically quick method for consumers to purchase products from any person or store across the globe. 
Generally, the payment process is:
- User registers, inputs their phone number, and the provider sends them an SMS with a PIN
- User enters the received PIN, authenticating the number
- User inputs their credit card info or another payment method if necessary (not necessary if the account has already been added) and validates payment
- The user re enters their PIN to authenticate and validates payment
Requesting a PIN is known to lower the success rate (conversion) for payments. These systems can be integrated with directly or can be combined with operator and credit card payments through a unified mobile web payment platform.
Tips and Concerns
Protect yourself from fraudulent web sites. Many sites will use similar names or web addresses in an attempt to gain private information. Also, be sure to protect your privacy. Many sites and online stores will track your browsing habits to promote deals and products to you. Check with your online bank to see if they follow your browsing history. Your web browser also may have settings to block outside groups from seeing this. Finally, try to keep your transactions secure.
- BitCoin is the world's most widely used alternative currency with a total market cap of approximately $7.8 billion. The bitcoin network is made up of thousands of computers run by individuals all over the world.
- Founded in June of 2012, Coinbase is a bitcoin wallet and platform where merchants and consumers can transact with the new digital currency bit coin.
- 960,000 consumer wallets, 23,000 merchants, 4,000 API applications U.S., and bank integration
- Yahoo! Wallet
- MSN Wallet
- AOL Wallet
- CyberCash, Inc.
- Google Checkout
- Google Wallet
- Amazon Payments
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