Security can be a terrible burden. These days, most Internet users maintain multiple accounts with multiple passwords. And keeping track of all those passwords can be mighty confusing.

It's precisely this confusion that Web shoppers hope to avoid when they sign up for one of the many electronic wallet services. An electronic wallet, also called an e-wallet or an e-pass (it never ends), logs a user's login information, passwords, and credit card information for multiple sites in one convenient virtual "wallet." Matt Margolin recently discussed the ups and downs of electronic wallets, among other things, in his article on security.

Whenever a wallet-endowed user proceeds through the check-out process on a site that uses an electronic wallet system, the familiar form-field screen appears asking for user data — name, address, and credit card number — is automatically populated with the user's info and the order is processed. Security issues aside, the recent upward trend in the use of electronic wallets is a good sign for online retailers.

So how can you collect cash from customers who use electronic wallets? First, you need to become affiliated with one of the many e-wallet services, most of which list between 3,000 and 5,000 Web-based businesses that accept their wallet system. Companies like Gator, monCASH, and Microsoft, which traffic in the electronic wallet circuit, have established criteria that you need to meet to be part of their network. Meet the criteria, and your business is added to a directory that the company keeps and distributes to users who are looking for their next shopping adventure.

If you have actual hard goods to sell and you're already doing some brisk business, an e-wallet system might be a good fit for your online business. But if you are collecting money for software, for downloaded files, or if you only sell small quantities every now and then, the simpler cash payments systems might be a less complicated solution. However, no business is too small to step into the e-wallet realm — whether or not it's worth the hassle is your decision.

Whichever path you decide to take as you enter the e-commerce world, there are some important final points that you should consider before you get up and running.