The phenomenon of Digital Wallets
In the last few years, the online payment system has seen the phenomenon of digital wallets taking the industry. And since the hype around it has not stopped yet, many companies strive to provide better features every year. If one asked you a few years ago if it is possible to pay without your card or cash, you would have laughed. But now, it is possible to make purchases and pay through your phones, smartwatches, or even accessories such as rings, bracelets, etc.
This has become a huge deal, especially after the Covid-19 pandemic. The thing is that people decided to use less cash in order to decrease the spread of the virus. And many companies used this as an advantage to offer their digital payment systems to the world. So let’s see what digital wallets are, what advantages they have, and should you use one for your purchases?
What’s the point of getting a digital wallet?
First of all, let’s understand what we imply by saying a digital wallet? And the meaning of this term lies in itself already. It is basically your wallet but not physically in your hands. It is in a digital sphere. With this understanding of your wallet, you can efficiently access your financial accounts through your phones, computers, or any other smart device. With this approach, you are using your wallets less, thus using less money in cash.
You might have heard about some of the most widespread payment choices, such as Apple pay, or Google pay. But there are so many other alternatives in the market as well, such as PayPal, Venmo, Samsung pay, Facebook payment, Square cash, and etc.
What characteristics do digital wallets have?
Before you begin to use a digital wallet, you should determine which option fits nicely with your requirements and needs. In case you are using an iPhone, holding Apple pay in your phone can be the best option. But it does not limit you to using other digital wallets as well. People using smartphones with Android OS move towards Google Pay or Samsung Pay as they are more convenient for Android users. And Apple Pay is not available for Android OS.
Once you have determined which app you are operating, you can start using your digital wallet. For that, you will need to first complete your card information in the app that you’ve chosen. And in case you are completely new to this digital era and don’t have a bank card, Bastakreditkort.se can help you compare various bank cards and find the best suitable card for you. With this, you will have a chance to take a look at all the reasonable options, and choose one from the wide list. Once you also choose your card, let’s say it is the Remember Flex credit card or Resurs Bank Cards, you should fill in the details of that particular card. You will be able to use the features of the digital wallet only after signing in to it. The system is one of the most secure ones, so there is no need to be fearful of transferring your card details. Once you are all set, you can make your purchases through mobile payments. To do that, you need to open the digital wallet, place it closer to the card reader when you are at the desk, and thanks to digital magic and programming, your payment will be successfully received.
You should keep in mind that not all shops and stores accept mobile payment, so make sure to ask before paying.
Can you trust digital wallets?
Everyone hesitates first when signing in to this, as a protection crisis is the first thing that comes to one’s mind. You are getting so many questions in your head, like what if I lose my phone, can hackers get my details, or will I put my finances at risk with this? The most simple explanation to all these questions is a big NO. The system is made in a way that is safer than the bank cards you carry in your wallets. Mobile wallets are extremely encrypted, which indicates that the possibilities of hewing those components are zero. With this, you can be sure that your data is secure and runs through several layers of validation before finalizing the transaction.
Final thoughts
With digital wallets, you will surely have an easy and more convenient way to make your payments. Not to mention the security of the technology. And when we add the other privileges such as cashback, rewards, and gift cards, while paying with your digital wallet, the anticipation increases significantly. We would not recommend forgetting about your wallet completely yet. But digital wallets are for sure the next step to the modern digital era.
