How To Get The Most Out Of Your Mobile Wallet

If you’re tired of fishing for the last dime in your wallet when paying for your Starbucks latte, it’s time you consider switching over to a mobile wallet. That’s how the person who ordered after you at the neighboring till managed to pay and move on towards the bar while you’re still playing hide-and-seek with your coins. The mobile is a convenient and fast way of paying for things without ever touching cash or credit.

But is it right for you?

As more retailers adopt cash-free and cardless payment systems, this is a question you’ll need to answer – and soon. Keep reading to learn a few basics about the mobile wallet to help you answer it quickly.

What is it?

A mobile wallet is a way of carrying around your money without keeping cash or credit on you. It replaces the traditional billfold typically left in a purse or back pocket, digitizing the information kept on debit and credit cards. Instead of using cash or card, you can pay with your iPhone.

It requires your X to have an e-payment app. While many of the biggest banks offer a mobile wallet app now, it wasn’t always the case. Retailers such as Amazon, Starbucks, and even Walmart were some of the first companies to offer a digital way to pay for things. There’s also Android Pay, Apple Pay, and Samsung Pay to choose between. There are a lot of cardless payment systems out there. Use a guide like this to help you make that decision.

Regardless of the app, it relies on NFC technology, or Near-Field Communication chips. NFC chips communicate your financial information wirelessly, similar to but not exactly like Bluetooth and Wi-Fi routers. It sends an encrypted version of your debit or credit card account to an NFC-enabled POS to finalize the sale. Only those devices with this tech can communicate with one another at specific times, so your mobile wallet won’t send your financial information indiscriminately.

Protect your mobile wallet properly.

The iPhone X isn’t the kind of phone you want to damage on a good day. Not only does it have all your photos but it’s your only method of communication. It was also $1,000. But once it substitutes as your digital wallet, you really don’t want to break it. A cracked screen or totaled processor means you won’t be able to make your e-purchases or rack up rewards points.

Physical and digital security is a must when you rely on your mobile wallet to make purchases.

Reduce the risk of dropping your phone and making it incapable of sending your data with a skin from dbrand. They’re the only skin provider that uses 3M vinyl in all of its designs, giving its skins a texturized surface for a better grip.

As a reward for taking your security seriously, the material also makes it very easy to customize with a variety of colors and designs. Some of the new skins for your iPhone X include black camo and red dragon skin. These premium looks join a large catalogue of styles promising unique personalization in addition to protection.

Dropping isn’t your only concern. A lost phone could lead to someone else using your mobile wallet if you’re not careful. Take the time to invest in its online security by doing the following:

• Logging out every time you use the app. Keeping passwords saved makes it easier for thieves to use your mobile wallet.
• Use multi-factor authentication. This means you need more than your login credentials to access the app. Whether it’s the X’s Face ID or an automatic code generated at the time of a purchase, these additional steps to verify your identity will stop most criminals.

The bottom line: do your homework

A mobile wallet promises fast and convenient digital payments, as well as access to a growing number of stores that are going cash-free. Though the advantages to adding one to your X are many, don’t jump into the mobile wallet life without thinking about it carefully at first. You’ll need to spend time finding the mobile wallet and security that works for you. Only then can you join this trendy new club without worrying about your privacy. And in a post – Cambridge Analytica and Facebook scandal world, privacy is a luxury!