Societal adoption of digital wallets can revolutionize the global economy by transforming how customers pay for goods and services, making transactions faster and more convenient. They allow users to store payment information securely and make purchases with a few taps on their smartphones. The potential for digital wallets to transform transactions goes beyond payments. Digital wallets also can revolutionize how people, businesses and governments prove their identity or data-minimized verified information about their identity, like proof of age of consent or confirmation of professional certification.
While digital wallets are exciting, they also come with risks, particularly around governance, risk, and compliance. Clients, citizens, and partners need tools to help them adopt digital wallets securely in a complicated ecosystem. These tools should be easy to use, accessible, and provide the necessary information to make informed decisions.
This article will discuss measuring trust in digital wallets, the assurance outcomes that digital wallets must meet to verify trustworthiness, and the tools available to help clients, citizens, and partners adopt digital wallets safely.
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