![]() To help better understand the security measures available, I decided to set up one of my credit cards on the Google Pay service. Safety Observations From Google Pay and American Express The video also addresses what to do if you lose your phone: Instead, it uses a unique encrypted number for each transaction. Understandably, some people may have reservations about the safety of their personal financial information while using their phones to complete a credit card transaction.Īs Google Pay explains in this video, it does not use your actual card information when you make an in-store transaction. You may want to pull out your loyalty rewards cards and search for them in your digital wallet as a “baby step” for setting it up for potential long-term use.Īre Transactions With A Digital Wallet Safe? Here’s a look at just a few of the businesses that are integrated into the Google Pay platform for easy access to their loyalty programs: “It has been especially valuable in situations like that.”Īn increasing number of businesses are taking advantage of brand positioning on these platforms, so you may be surprised by the number of your loyalty programs that are already available to link. I ordered on Panera’s app, I chose to pay with Google Pay during the checkout, I added the tip with Google Pay and then when I got there they just handed me my food,” Clark said. “This morning I went to Panera for some food. Chick-Fil-A, Panera Bread Company)Ĭlark cites a recent example of a transaction he made with Panera Bread Company, where he used his Google Pay app to prepay for his food order before picking it up from their drive-thru window. Restaurant and store loyalty cards (ex.Airline frequent flyer rewards accounts (Southwest Rapid Rewards, for example).These credit cards that he also keeps in his actual wallet.Here’s a sampling of some of the things you’d find in Clark’s Digital Wallet: He also has added his travel rewards and retail loyalty cards to his digital wallet. With access to your credit cards, debit cards, bank accounts and loyalty/discount cards all in one spot, you’ll need only your phone, keys and a form of identification.Ĭlark has made the most of Google Pay’s capabilities by adding more than just his credit card information to the app. If set up correctly, your digital wallet could free you up to leave most of the contents of your actual wallet at home. For example, using Google Pay, all you’ll need is someone’s email address or phone number to send them money. Apps like Venmo and the Cash App are popular ways to pay friends when splitting a bill, but you also can use your digital wallet to do that. While Clark’s reason for contactless payments is probably a popular one in 2020, there are other reasons you could consider switching to a digital wallet yourself: So if I go to pick something up, I don’t want to hand them my credit card and let any cooties they may have get handed back to me on the card.” “And that is really important to me because, as you may know, I’ve been in quarantine since March 13. “I didn’t really get to being a big user of it until the coronavirus,” Clark said. So he wanted to increase the safety of conducting transactions in stores. ![]() ![]() Like many of us, Clark found himself avoiding physical encounters for an extended period during the COVID-19 pandemic. There are myriad reasons to consider making the move to a digital wallet, but Clark’s breaking point was simply rooted in necessity. Some of the popular digital wallet options for your mobile device include: If you have a smartphone that was manufactured in the last few years, there’s a good chance you’re already carrying around a pre-installed digital wallet app in your pocket. And that cuts down on the time it takes to make online purchases or contactless payments at a store cash register. Digital wallets can securely store things like debit cards and credit cards. Simply put, a digital wallet is a digital version of your financial accounts that is made available and kept secure on a third-party platform. In this article, we’ll explain what a digital wallet is, dig into why Clark made the shift, find out exactly what is in Clark’s digital wallet and talk through some of the security concerns you may have. ![]() I use it regularly and plan to continue doing so,” Clark says. He says he likes the new technology so much that he plans to continue using it as his preferred way to pay for the foreseeable future. Money expert Clark Howard used some of his downtime during the coronavirus quarantine to upload all of his pertinent cards and information to the Google Pay digital wallet app on his cell phone. Have you made the technological leap to a digital wallet yet? And if you have, are you getting the most out of it?
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