System and method for use of distributed electronic wallets

A method of carrying out transactions on the internet using distributed electronic wallets, comprising:

• identifying an internet consumer accessing a web site of a merchant via a web server;
• accessing via the web server consumer data associated with the internet consumer previously provided by the internet consumer and stored in a database;
• receiving an indication via the web server that the internet consumer wishes to finalize payment associated with a web site transaction at the web site of the merchant;
• presenting via the web server a first electronic wallet having the consumer data associated with the internet consumer populated in the first electronic wallet;
• comparing by a second electronic wallet associated with the internet consumer the consumer data populated in the first electronic wallet with consumer data for the internet consumer pre-populated in the second electronic wallet;
• and
• if the second electronic wallet identifies at least one aspect of the consumer data populated in the first electronic wallet that is different from a corresponding aspect of the consumer data pre-populated in the second electronic wallet, replacing via the web server said aspect of the consumer data in the first electronic wallet with said corresponding aspect of the consumer data from the second electronic wallet, wherein the second electronic wallet comprises an electronic wallet on the consumer's computer.

A system for carrying out transactions on the internet using distributed electronic wallets, comprising:

• a web server adapted for receiving an indication that an internet user wishes to finalize a transaction with a web merchant;
• wherein said web server is further adapted for presenting a first electronic wallet associated with the web merchant pre-populated with consumer information of the internet user provided on a preceding occasion;
• and
• a second electronic wallet associated with the internet user pre-programmed for comparing the consumer information pre-Populated in the first electronic wallet with consumer information for the internet user pre-populated in the second electronic wallet, and if the second electronic wallet identifies at least one aspect of the consumer information pre-populated in the first electronic wallet that is different from a corresponding aspect of the consumer information pre-populated in the second electronic wallet, for replacing via the web server said aspect of the consumer information in the first electronic wallet with said corresponding aspect of the consumer information from the second electronic wallet associated with the internet user.