What is Mobile Wallet/ Digital Wallet?

Estel Mobile Wallet / Digital Wallet / eWallet - In Detail

A digital wallet, also known as an e-Wallet, is a virtual wallet or account that allows users to store funds in digital forms and to make transactions using digital units. This wallet can be accessed using a digital channel, e.g. computer, mobile. Since mobile penetration is significantly higher than computers, digital wallets are evolving primarily around Mobile-based channels, e.g. Smartphone app, SMS, USSD, NFC, etc. allowing millions of unbanked population access to digital wallets popularized as Mobile Wallet and digital units mostly known as Mobile Money.

A significant gap has emerged globally in recent years between mobile penetration and banking penetration!

In most countries, a large number of people do not have access to banking & financial services, whereas they either have a mobile phone or have access to a mobile phone & service.

Mobile Money brings relevant, low-cost banking to the doorsteps of millions of such people, especially in developing countries, where banking services are not readily available or easily accessible, but the mobile telephony infrastructure is well developed. This offers enormous potential to open new markets and business opportunities for service providers, banks, mobile operators & merchants!

Estel’s Mobile Wallet Solution

Estel’s Mobile Wallet solution is a highly evolved Digital Wallet Solution. Our technology enables users to turn mobile handsets into Mobile Wallets.

We offer a high-performance transaction processing platform that can be integrated with existing mobile and banking infrastructure. It allows people to:

  • Open virtual bank accounts (called m-Wallets/e-Wallet).
  • Deposit & withdraw cash from m-Wallets at authorized retail outlets.
  • Transfer money.
  • Make payments for goods & services, including prepaid/airtime recharge & bill payments.
  • Get salary disbursements.
  • Check balance, get mini statement

Salient Features of Mobile Wallet Solution

Estel’s Mobile Wallet Solution is a modern Digital Money Transfer Software gone through over two decades of evolution in collaboration with Payment Service Providers, mobile network operators, banks, and most importantly subscribers.

Some of the key features that this Mobile Wallet Payment Solution offers are:

  • Multiple eWallets for each subscriber.
  • Multiple currencies in a single deployment (ideal for countries allowing transactions in multiple currencies).
  • High-performance transaction management software with proven capability of over 4000 TPS (transactions per second).
  • Technology agnostic payment modes allowing subscribers to choose from modern NFC-based payment modes to basic USSD and SMS-based channels.
  • Cloud-ready platform with successful deployments in both private as well as public cloud environments.
  • Multi-tenant deployment support allows multiple smaller PSPs to share the same infrastructure while maintaining complete opacity from each other.
  • Database agnostic: The platform supports multiple licensed as well as popular open-source databases.
  • White label mobile wallet solution: Estel also provides a white-label eWallet solution fully customized to customer’s functional and branding requirements. Customers are also provided with adequate training to further customize the supplied White Label Wallet Solution to their specific needs on their own.
  • Highly Integrated ecosystem: The platform has integrated with 100 + standard as well as non-standard nodes on mobile operator, banks, and PSP side.

Use Case Scenarios

  • Merchant Payments:Cash availability is becoming a major problem in many countries and adds to the inconvenience of both merchants and customers. Myanmar had a similar problem when Estel’s Digital Wallet Platform powered m-Wallet service was introduced. Now millions of subscribers are using their phones to make merchant and utility bill payments across the country.c
  • Money Transfer: Abdul from Douala, Cameroon urgently needed to send money to his brother at Kumbo. But his brother did not have a bank account. Smart Abdul approached an m-wallet agent across the street and gave the money and mobile number of his brother. Within seconds, his brother received an SMS with a code and instructions to redeem the code at his nearest m-wallet agent. Millions of people like Abdul’s brother who do not have access to banking services can send and receive money to their loved ones in Cameroon and 5 other neighbouring countries from a centralized eWallet payment system in Cameroon.
  • Utility Bill Payment: Paying utility bills like electricity, water, etc used to be a cumbersome task in Nigeria. Mr. Olawuyi running a small mobile shop used to lose an entire day’s business every month to make these payments. But now he can use his handset to make these payments within seconds right from his shop. He and millions of others in Nigeria are using an m-wallet service powered by Estel’s mobile money software (digital wallet software) platform to make utility bill payments.
  • Salary payment: Paying salary for his employees at his construction site used to be a pain every month for Mr. Rashid because most of the workers did not have any bank accounts and needed payment in cash. They did not have bank accounts but all of them had mobile phones. So, Mr. Rashid decided to pay the salary as mobile money. He just needed to upload the list of mobile numbers and amounts for each worker and each worker received the salary within seconds. The workers were also able to visit the nearest mobile money agent to withdraw cash from their Mobile Wallet accounts. Estel’s Mobile Wallet Payment System is behind many such success stories across Lebanon.

    Such bulk payments are not limited to salary/wages. Govt. and other Charitable Agencies may use these services during emergencies or for periodic welfare distribution to support the people in distress.


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