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Beyond the Transaction: Every Transaction Has a Story

How Mobile Wallets Make Shopping Easier and Safer

With the spread of digital wallets, payments are progressively being integrated on our mobile phones, enabling a more seamless check-out experience. This also lessens the chances of fraud. Here are some steps you can take to give your e-wallets a virtual makeover.

Step 1. Chose a mobile wallet application and install it!

The perks and benefits can vary significantly, some even have scanners which help manage purchased tickets and coupons. Choose a widely-used and highly-rated digital wallet that has the winning combination for you!

Step 2. Link your payment card to a mobile wallet

All you need to do is input your payment information into the mobile wallet application. This information consists of your shipping and billing address, and payment methods (including credit or debit card numbers, expiry dates, and security codes). In some cases, biometric information may be required as an added security feature.

Step 3. Match your smartphone to mobile wallet application requirements

Make sure your smartphone’s features are compatible with your mobile wallet app! Some mobile wallets require near field communication (NFC) technology to work (this nifty technology allows you to tap and pay)! Not all smartphones and tablets come equipped with NFC, however, so keep a keen eye out for the list of handy smartphone features!

Step 4. Look out for mobile wallet-friendly merchants

Though increasingly prevalent, not all merchants and shopping sites accept payments via digital wallets. Check through lists of vendors who accept your choice of mobile wallet. Shopping will then be a walk in the park – simple, quick and secure!

Step 5. Use it!

When you are ready to purchase your chosen item your wallet will prompt you for a password when it recognizes a form it can fill out. This keeps unauthorized users away from viewing personal information stored on a particular computer. Secondly, it will start pre-filling in forms for you and voilà! You are done with the payments part of shopping.

Step 6. Complete your checks and balances

Some mobile wallets can also help you keep track of your transactions, which allows you to easily monitor your payments and spot anything that might be suspicious. Some apps even allow users to take pictures of receipts for tax purposes and provide tools that can monitor the amount your spending.

Click here for more information on payment safety and security.