WEYBURN - Digital wallets are the new normal for consumers across the world. For many that use them, digital wallets are versatile tools with features and technology designed to make everyday purchases as simple as a tap of the phone.
Consumers can pay for goods and services using their mobile phone, either by accessing the digital wallet, or by scanning product barcodes. The other nice feature is that a lot of digital wallets can be linked to loyalty cards, or coupons that help you save money when you are checking out.
Travel and vacation has become so much easier due to digital wallets, as they can also store plane tickets, concert tickets, hotel reservations, and other documents. Instead of digging through a purse, or looking for those important files, it is so much easier just to open up the digital wallet app.
Some digital wallets can store health and identification information. They are designed so there is no need to carry around cash, credit or debit cards, since payments can be made using a mobile phone. A significant benefit to many of these digital wallets is that users can see a list of their recent transactions immediately, and instantly access all their payments and charges 24/7.
Another way that digital wallets save time is the ability to set up automatic bill payments. Users can schedule utility payments, or track when other monthly fees occur, so that budgeting becomes almost effortless.
It is important to keep your data secure when using digital wallet technology. Security features such as Face ID, thumbprint, or a PIN passcode are important authentication factors that should be used. It is essential that users find a verified digital wallet that offers two-factor authentication.
The best way to keep personal information in a digital wallet secure is to follow the same safety tips as when you are banking online. Users should have long, strong passwords on all their financial accounts, and never use a repeated password. It remains important to be on the lookout for phishing emails or texts, and remember to never click on a link you don’t trust.
For those people who want to go to the ease of using a digital wallet, it is a benefit to educate yourself on malicious tactics to avoid financial fraud. Especially since technology has become such an important tool in our day-to-day lives, learning how to protect yourself while online should be a priority for everyone.
We need to embrace change, as there are more and more people who are using digital wallets. The important thing is to stay educated about how they work, learn ways to protect your online presence while using a digital wallet, and to become comfortable with the technology. In the end, if it helps save money and time, it is a useful program to have.
