April 17, 2020
Digital wallets—electronic versions of a physical wallet on a mobile device—allow for convenience and the ability to make contact-free purchases. Digital wallets allow you to enjoy shopping without the need to carry physical cash, debit, or credit cards. Learn how a digital wallet can make purchases more convenient, keep you organized, and help you save money at your favorite stores.
A digital wallet can hold more than your debit and credit cards—it can store digital versions of other items you normally carry with you such as:
Adding loyalty cards, tickets, passes, and other items to your device’s digital wallet typically involves a QR code, bar code, or choosing to add to wallet directly from a third-party app.
Many retailers’ apps give shoppers additional benefits for loading a debit or credit card to make purchases giving you more bang for your buck. Target, Amazon, Starbucks, and others offer loyalty points and coupons for using their mobile payment app.
Just like your physical wallet, a digital wallet can quickly fill up with digital cards and clutter. Periodically remove any cards or items you no longer need and replace expired cards with updated ones. Digital payment methods like Apple Pay and Google Pay also offer added security features. When a purchase is made, a unique device account number—known as a token—is passed to the merchant instead of your actual account number. A digital wallet also allows you to secure your payment methods by requiring a passcode or biometric method for approval.
Debit and credit cards from Citizens First Bank are able to be included in digital wallets. If you have questions or would like more information about digital wallets or CFB cards, contact your local branch today.