An electronic wallet system that protects payment accounts, identification and other personal information found within a typical wallet with a secure electronic vault (first) device that can be part of a physical wallet, insert to a wallet, or in other embodiments, wearable/portable devices. A unique biometrically enabled multi-factor authentication process ensures only owners of the information can copy the information to the device or retrieve it thereafter. Authenticated users may then select payment, identification, medical or virtually any private information via touch display or voice command on the vault or on another (second) device that operates in conjunction with the vault. The second device comprises, for example, a programmable card with dynamic magnetic stripe, cell phone, or other wearable technology, that initiates and processes a payment and/or transfer of private information.