The function of a digital wallet is to securely store and manage users' payment information, including credit and debit card details, for online transactions. Digital wallets can be used for both in-store and online purchases, allowing users to make payments quickly by using their smartphones or other electronic devices. They often employ security measures such as encryption and two-factor authentication to protect sensitive data. With features like loyalty card storage and transaction history tracking, digital wallets enhance the convenience and efficiency of financial transactions.