How Do I Choose a Digital Wallet?

posted on Thursday, March 4, 2021 in Financial Tips

A digital or mobile wallet offers a convenient way to make cashless payments at your favorite stores. It also keeps records of your transactions and enables you to make fund transfers. Simply connect your app to a mobile device like a phone or smartwatch, and you’re good to go.

Nowadays, there’s no shortage of digital wallet options in the market. The dilemma, however, lies in choosing one that best suits your lifestyle. To help you decide, we’ve listed down some features to consider when making a mobile wallet comparison:

Technology Used

Be sure to choose a digital wallet that utilizes Near Field Communication (NFC) technology. This feature enables data sharing between devices that are in close proximity. Instead of using a debit or credit card, users can perform contactless payments by simply tapping their phone on the payment terminal. This allows for a faster and easier way of transacting.

Security Features

One of the most crucial factors when choosing a digital wallet is its security features. Aside from the usual password and PIN protection, it must also have data encryption. Moreover, zero liability protection should also be in place, to ensure that users are not held responsible for unauthorized transactions.

Merchant Partners

Digital wallets allow you to purchase from online stores without having to enter your card details each time. All you have to do is choose your digital wallet as the mode of payment, and it will ask you to input your username and password. However, keep in mind that not all retail stores accept digital payments. Just be sure to choose one that is widely accepted in majority of merchant stores. You can check your service provider’s website or reach out to them, for a list of their partners.

Quick, Easy, and Secured Digital Payments

Enjoy hassle-free payments with just a single tap of your device! Community 1st Credit Union’s digital wallet enables you to make contactless payments at over a million stores in the U.S. We also have different payment options to choose from like Apple Pay, Google Pay, and Samsung Pay. You just have to download the digital or e-wallet app, link it to your debit card, and you’re good to go. Reach out to us now!