Monday, November 16, 2009

The New Concept of Virtual Wallets



Today, I read an article in The New York Times that really interested me. I have always been a fan of online shopping, and I think that the fact that anyone in the world with a credit card can buy almost anything from clothes to food instantly is one of the greatest advancements technology has made in the past decade. Something that was brought to my attention is the method of paying. You can buy anything with credit cards, pre-payments, or other methods such as Pay-Pal. The article in The New York Times brought up the fact that the development of virtual wallets is in process. Is this new concept safe? And how popular will it become? I never expected Pay-Pal to become as popular as it is but it escalated into such an accepted and widely used method for paying that I was shocked, and I created a Pay-Pal account. With internet fraud being a major issue, that is thankfully gradually dying down with the advancement of internet site protection, virtual wallets that have all of your bank details, credit card details, and personal information seem somewhat unsafe to me, although maybe, just like with Pay-Pal, my opinion will change as they become more commonly accepted and used.

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