Wallets and wallets are bags that hold money. This explanation should be the most accurate. But who said that wallets can only hold money? Is it okay to hold ID cards, or business cards? Is it feasible to hold photos of someone? Is a bag that doesn't hold phone number list money still called a wallet? This is not a philosophical question, this is a boring question.
Today we will talk about the design of some user electronic wallets.
1. What is a user e-wallet
Electronic wallet is a virtual wallet that uses Internet technology to realize the online management of digital currency, such as WeChat wallet, Alipay wallet, and the digital RMB wallet just launched.
For e-wallets, there are only two conditions that must be met. The first must be digital, and the second must be money management. Since money is managed, there must be "how much the balance" and "how to change the flow".
2. The purpose of user wallet
One of the core uses of wallets is to manage money, and another very important use is for payment transactions; because our wallets, whether in phone number list banks or third-party payment institutions, are mostly used for settlement or payment, so for the time being, we consider the wallet’s The core purpose is payment.
From another perspective, a wallet is a financial tool that manages electronic money; and provides users with transaction payment capabilities for recharge, withdrawal, transfer, and payment.
3. The underlying capabilities of user wallets
The underlying capability of the wallet is actually the account; the surface of the wallet is nothing more than a "skin".
Accounts Our previous article has given a detailed introduction, here we focus on the perspective of capital attributes to re-look at the classification of accounts.
Bank accounts are mainly divided into two categories: savings accounts and settlement accounts. Among them, the classification management method of settlement accounts has a more detailed definition of the classification of settlement accounts:
On April 1, 2016, the "Notice on Strengthening Account Management for Personal Bank Account Services" (Yin Fa  No. 392) was officially implemented, establishing a classified management mechanism for personal bank accounts. Personal bank settlement accounts are classified into categories I, II and III according to the verification method and risk level of the applicant's identity information. Among them, Type I accounts are accounts opened by individuals at the bank counter and their identity is verified on-site, and have full functions; Type II and III accounts are bank accounts opened through electronic channels such as bank counters or the Internet, with limited functions. And it needs to be used in combination with Class I users.
Payment Institution Account:
Payment institutions can also open virtual accounts for users, which we call payment accounts. According to the regulations of the People's Bank of China, payment accounts are subdivided as follows:
On July 1, 2016, the People's Bank of China's "Administrative Measures for Online Payment Business of Non-bank Payment Institutions" (Announcement of the People's Bank of China  No. 43) was officially implemented, establishing a classified management mechanism for personal payment accounts. Similarly, according to the verification method and risk level of the applicant's identity information, personal payment accounts are divided into categories I, II, and III. Among them, Type I accounts only need to verify their identity information through one channel, which is the most convenient to open an account. The account balance can be used for consumption and transfer, but the limit is lower; Type II and III types of accounts need to verify their identity information through at least three and five channels respectively. , or through face-to-face verification of identity, with a higher balance** limit; in addition to consumption and transfer, the balance of Category III households can also be used to purchase investment and wealth management products.
Note: We can see that there are three types of accounts in bank settlement accounts, and there are also three types of accounts in payment institutions. We should pay attention to distinguish them and do not confuse them; the specific conditions, limits and functional rights of each type of account will not be repeated here.
The above two types of accounts are all compliant and legal, and there is another type of account that is self-built by the platform. Of course, this type of account is virtual bookkeeping and does not contain real funds (in fact, the real funds of payment accounts of payment institutions are also supervised in PBOC reserve account); around this self-built account, we can also build a user wallet system.
Fourth, wallet classification and difference
It is believed that the essence of a wallet is an account, and the essence of an account is funds, so we look at how wallets are classified according to the attributes of funds in the account.
Bank User Wallet:
Wallet applications built by banks based on the bank settlement account system, such as wallets in various bank APPs.
Payment institution user wallet:
A wallet application built by a payment institution based on a payment account system to provide a wallet solution or an API packaged by a merchant.
Digital RMB Wallet:
The digital renminbi wallet launched by the People's Bank of China.
Platform self-built wallet:
Each platform has its own virtual wallet application based on self-built accounts.