As different types of wallet become available , this reports on how digital wallet are different to pre - paid wallets . When using a digital wallet , such as the Visa MasterPass wallet , the money stays in the bank account or on the credit card , but with a pre - paid wallet , the money is transferred to either a merchants account or an escrow account . Here’s a look at different types of wallets available. It would seem that in general , digital wallet require more levels of security , but once authenticated have less limits . Pre - paid wallets are more often subject to transaction limits and validity issues .
As different types of wallet become available , this reports on how digital wallet are different to pre - paid wallets . When using a digital wallet , such as the Visa MasterPass wallet , the money stays in the bank account or on the credit card , but with a pre - paid wallet , the money is transferred to either a merchants account or an escrow account . It would seem that in general , digital wallet require more levels of security , but once authenticated have less limits . Pre - paid wallets are more often subject to transaction limits and validity issues .