Smart phones are increasingly prevalent for payment transactions. Electronic wallets (“wallets”) will be able to handle different currencies. These wallets will be able to handle a multitude of digital money, including a variety of branded currencies. The wallet can be linked to both checking accounts as well as market places. Wallets will be hosted centrally on a server or locally on a smart phone. The selection and default for any particular currency to be used in a particular transaction can be specified in the user settings and will be limited by the amount of available currency, respectively.