Money Matters: The Disadvantages of Using E Wallets

E-wallets have gained immense popularity over the years in the Philippines. They become a convenient and cashless way to conduct transactions such as buying cellphone loads or shopping online. 

What is an E-wallet?

Ewallet is a digital wallet in the form of a web or mobile application that allows users to store money, make payments, and perform online transactions with ease. E-wallets eliminate the need for physical cash or cards and offer several advantages such as speed, convenience, and accessibility. Typically you need to install an e-wallet mobile application on your mobile phone to access their service.

However, like any other technology, e-wallets has also disadvantages.  Here at Shoppiverse PH, we will enumerate some of the disadvantages of using e-wallets in our day-to-day activities.

1. Security Concerns

Phishing, Smishing, and other forms of cyber-attacks become common occurrences in today's digital age, and E-wallets are no exception. The risk of identity theft is also a significant concern. Once a hacker obtains personal information such as PIN or Password an e-wallet and the money can be compromised.

2. Transaction Fees

Another disadvantage of E-wallets is the transaction fees that are often associated with their use. While some E-wallets offer free transactions, others charge fees for various transactions, such as payments, deposits, withdrawals, and transfers. See to it that you read first and understand how much charges it gives to you. 

3. Limited Acceptance

Not all stores accept e-wallet payments. Although some e-wallet companies are aggressive in promoting their service to many stores and are gaining acceptance in various places, they are still not universally accepted. 

4. Technical Issues

E-wallets are entirely dependent on technology and network connectivity, which can be a significant problem in areas with poor connectivity. Here in the Philippines, some areas have poor connectivity making it difficult to access e-wallet services. Although e-wallet providers continuously develop their mobile application experience technical issues such as app crashes, compatibility issues with their devices, or network errors. 

5. Customer Support

Lastly, E-wallets may have limited customer support, making it challenging to resolve issues quickly. Users may need to navigate complex menus and automated systems to reach customer support, and the resolution of issues can be time-consuming. 


In summary, e-wallets becomes a convenient way to make transactions but keep in mind that it has also had some disadvantages. Security concerns, transaction fees, limited acceptance, technical issues, and limited customer support are some of the drawbacks of using E-wallets. Always be cautious when using E-wallets and take steps to protect their personal and financial information.


With the rise of E-Commerce in the Philippines and the rampant cyber fraud victimizing people that have no prior knowledge of buying online safely, we decided to build this website Shoppiverse PH, and launched our presence on social media via our Facebook Page. In order to help Filipino people to buy from a legitimate seller. ere, we share information and updates about the latest and greatest affiliate products on the market. Stay tuned for product reviews, recommendations, and exclusive deals.

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