If you read our recent blog on contactless cards, you might have noticed that we mentioned how your contactless card can be used with your mobile (also referred to as digital) wallet.  

You may be asking yourself, “What is a mobile wallet?”  

Mobile wallets are financial applications on your mobile devices that store payment information for quick, secure access.  

Mobile wallets allow you to access your stored credit cards in just a few clicks which means you no longer need to carry all your cards around. Just simply enter your credit card or debit card number and use your mobile device when paying for purchases in-store.  

Mobile wallets can store more than just your debit and credit card information too, including: 

• Gift cards 
• Loyalty and membership cards 

• Event tickets 
• Transportation tickets (such as airline and transit) 
• Hotel Reservations 
• Driver’s License and ID Cards (Select States only) 

What are the benefits of a mobile wallet?

We’re glad you asked, and have these four great reasons for your consideration:   

1. Secure Transactions 

When you set up your mobile wallet, your card information cannot be accessed without a pin, fingerprint, or password to ensure it’s protected within the wallet app. 

When you pay, your phone communicates with the terminal using near-field communication technology which provides encryption and other protections when data is transferred. 

Your credit card number is also replaced with a randomly generated digital ID, referred to as a token, which means your card number is not being transferred at the point of payment. 

If you have hesitated to pay with your phone due to security concerns, know that extra precautions have been taken to make sure the transaction is as secure as possible.  
 

2. More Sanitary Than Cash or Card 

Cash is dirty. Think of those bills and that change being passed around hand to hand. We are all more sensitive to germs and viruses, especially during winter. If you use your mobile wallet, you don’t have to touch or handle cash that’s been circulating all over the place.  

3. Quick and Easy 

Finding cards in your wallet or purse can be frustrating. Think of how easy it is to open your app, find the card you want and hold it near the pay terminal to process the payment. Most of the time you’re holding your phone anyway, so if it’s already in your hand, you’re ready to pay. 

This is also a great reason to add your event tickets and transportation tickets to your digital wallet! You will have easy access to these items and won’t need to worry about keeping track of paper tickets.  

4. Back-Up Form of Payment 

Have you ever left your wallet at home or left it in the car?  It may not happen often, but it can happen. The benefit here is if you store your cards in a mobile wallet, it can be a great fallback if you ever forget your wallet or purse. Even if you don’t plan to use your mobile wallet to pay often, you should consider setting it up anyway, just in case you find yourself stuck without your physical cards or any cash. 

Mobile wallets are great alternatives to your traditional wallet with benefits and features that can improve your overall shopping experience.  

If you haven’t set up your mobile wallet yet, take some time and connect your cards, add your tickets and if available, consider adding your ID so you can keep everything in one spot when you’re on the go. 

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