digital-wallet

Not Using Your Digital Wallet? Here’s Why You Should

digital-wallet

Carrying a wallet full of coupons, ID and credit cards is the old way of being prepared for transactions. When it’s time to pay for a transaction, we fish for and open wallets; finger through card after card; unfold receipts to determine which ones we need; search for the coupon cards we may have shimmied into the wallet – and then we can finally buy something.

We spend valuable time at checkout counters going through this process of locating your debit card or looking for physical coupons to use.  In addition, we often make decisions on what to carry in our wallets based on security. Some of us carry everything that has our names on it in our wallets – and some only carry the bare minimum cards when shopping or traveling in case of theft.

But what if there were a solution that could consolidate some of this process? What if you could pay for your transactions without needing to reach and sort through your physical wallet? Wouldn’t it be ideal to have a solution that could further protect your money?

If you haven’t yet experienced the convenience and seamlessness of using a digital wallet, you’re in for a treat. And the best news is that it’s already available on your smartphone and smartwatch.

How Does a Digital Wallet Work?

mobile-walletA digital wallet converts your debit or credit card number into encrypted data, which is only accessible through your fingerprint, personalized pin code or facial recognition. A merchant will never see or have access to your card number. The digital wallet requires adding your payment method, such as your debit card.

Your account information can be linked to a digital wallet of your choice: Apple Pay, Google Pay, Fitbit Pay, Garmin Pay or Samsung Pay. You can then make payments for purchases using your digital wallet.

You can add your PrimeWay debit or credit cards to the following digital wallets:

Apple Pay
Google Pay
Samsung Pay
Fitbit Pay

Learn How to Set Up Your Digital Wallet

What Are the Benefits of a Digital Wallet?

Convenience & Ease of Use 

Pay for your transactions anywhere that accepts a digital wallet payment—just look for the contactless symbol in stores: contactless-digital-payment 

You can also consolidate gift cards and coupons in addition to adding all of your credit cards to your digital wallet – which means no longer needing to carry physical cards that take up space, and provides an additional option in case you lose or misplace your gift cards and coupons.

The speed of transactions is another feature that makes digital wallets so convenient to use. For instance, if you are at a concert, and the venue accepts Apple Pay, you can pay for your drinks, food and concert merch without reaching for your wallet – instead, you just need your smartphone or smartwatch.

With your digital wallet set up, your mobile device will both verify your identity and you just hold your smartphone or smartwatch to the contactless terminal. With a transaction that fast, you won’t miss a beat.

payment-appSafe and Secure Data

Digital wallets protect banking information in the event of theft. With encrypted account information, no thief can grab your purse and use your money, like they might with credit cards or cash. If your mobile device is stolen, a thief would still not be able to infiltrate your account, because they would need either your fingerprint or your passcode to gain access to your digital wallet.

Pay Without Carrying Your Cards  

Some of us who are used to carrying around everything we might need look a little like Mary Poppins at a checkout counter – holding up the line behind us while we pull out every card and forgotten paper receipts we’ve collected, just to find the debit card we want to use to pay for what we shopped for.

By storing your account information and your ID into your digital wallet, you no longer need to carry around your whole wallet. Think of how much time you would save by not needing to search for your cards at checkout. You could also use your digital wallet in case you forget your card or ID at home.

Digital Loyalty Rewards Programs

More merchants are offering rewards to customers who pay for transactions using their digital wallets. You get benefits that plastic loyalty rewards cards give you on purchases, only without carrying around the card itself or a key fob.

Purchase Online or In-App

As adoption of digital wallets has grown, many merchants allow you to use it when shopping online or in-app. When you are ready to checkout, just look for your digital wallet logo to make your digital payment.

You can also utilize Masterpass™ by Mastercard for your PrimeWay debit and credit cards in addition to any of your other cards. With Masterpass, you’ll be able to store all of your payment and shipping information, so it makes online shopping a breeze on any device.

Conclusion 

A digital wallet is secure, easy to set up and makes it convenient to pay with your card of choice. Best of all, a digital wallet is already available to start using on your mobile devices—you just need to add your payment cards and reward cards.  For more information on how to make your debit account work faster for you, contact PrimeWay Credit Union to learn more about mobile banking.

About the Author

Andreana Binder


andreana-binder

Andreana always looks for ways to make life better through good food, exercise and creative flow - that rarely stops! A corporate writer by trade, Andreana also enjoys teaching workshops, making art, blogging, and sharing good food with friends and family. You can find Andreana soaking up the sun at the park with her mini schnauzer Murdock in her free time when she's not writing, cooking, creating or watching scary movies.