The importance of using a Digital Wallet

The importance of using a Digital Wallet

Should you own a smartphone, you could almost certainly pay for things with a swipe of your phone known as electronic or digital wallet. If you are not yet the owner of one, perhaps you will probably want one as it is more user-friendly than a debit or a credit card.

Nowadays, most smartphones are equipped with a near field communication (NFC) technology which tolerates the exchange of information between the mobile phone and the friendly point of sales or cashier. The customer has to take out his smartphone and only press it through the retailer’s system. Nowadays, many sellers are accepting the electronic wallet. According to Fidelity’s Vice-president of credit card products, “the handiness of an eWallet is sensible for many people. Everything is done with the touch of a finger,” says Stefan Ross.

Before being accustomed to using an electronic wallet, there are three things you need to know.

More secure

Stores accepting an electronic wallet do not have to dial the credit card number each time you are at the cashier. Once the client account is created and the data is saved (not even your bank account number), the information is encrypted and secured. You do not need to re-enter your bank details or pin code for future transactions.

In case the card information is misplaced, or lost you can have it at once compared to the lost of a credit card which take days to come by post. Same apply if the phone is stolen, the eWallet can be blocked from a distance.

Incredibly quick and simple

Paying by cash or swiping a card can take some time. But while using a digital wallet, the consumer efforts are minimized. As many smartphones have fingerprint scanners, you just have to put your finger on the power button while holding the smartphone near the payment reader. An evidence of your transaction is then banked into you electronic wallet which you can check later.

Any card accepted

Whether you are using a debit or a credit card, they are both accepted and can be stored in your eWallet. This flexibility allows the consumer to store the card he wants.

In order to encourage consumers, companies are focusing on the above three advantages as flagship arguments; simplicity and security to protect users and technology. So why not try it now. It is simply downloadable from your online application and you just have to follow some basic instructions.

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