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All About Digital Wallets

Member using his phone

A digital wallet allows you to securely store your card information on your mobile device so you can use it to make fast, secure payments. Any Royal debit or credit card is compatible with both iOS and Android digital wallet options. Keep reading to learn why you should start using digital wallets and to see how using a digital wallet helps keep your information secure!

Benefits Of Using Digital Wallets

Many major retailers have started accepting digital wallet payments in the last few years. Some popular businesses that accept mobile wallet payments include McDonald’s, Walgreens, and Target. Even some Coca-Cola vending machines allow payment using digital wallets! When filling up your tank with gas, paying at the pump with a digital wallet means you can just tap your mobile phone or watch at the pump instead of having to go inside the store or search for your debit or credit card. Since digital wallets are also very secure, it’s less likely that you’ll have to worry about gas station skimmers or having your card information compromised.

You can also use your digital wallet to make payments on mobile apps and websites like Airbnb, DoorDash, and Uber. When it’s time to pay an app or website, your digital wallet can automatically fill in your card information, saving you from needing to get out your card and type in the number each time.

When paying with a digital wallet, you avoid the inconvenience of searching for your card or cash when checking out, and you don’t have to worry about how you’ll pay if you forget your wallet or purse. Paying with digital wallet is also touchless and quick, as all you have to do is hold your mobile device near the reader. This means you also do not have to enter your PIN, as all digital wallet debit card transactions are processed as credit.

Digital wallet usage is not limited to mobile phones. You can set up digital wallet payments on wearable devices like smartwatches, or even on some tablets, laptops, and computers. With a digital wallet-enabled smartwatch, you can simply wave your wrist at the register to make a purchase!

Digital Wallet Security

Using your debit or credit card in a digital wallet is extremely secure. In fact, using digital wallets is more secure than using physical cards, as all digital wallet transactions are tokenized. A random number called a token is used to conceal your card information for each transaction, and retailers only see this token rather than your card number.

Even if your token from one transaction happened to be stolen, a thief would not have access to your actual card number. Since your digital wallet generates a new token for each purchase, your stolen token information doesn’t provide any way for a thief to make future transactions.

Using your digital wallet has great security benefits, and it can save you time when shopping online and in person! Add your Royal debit or credit card to a digital wallet today and experience the convenience of being able to pay with your mobile device! Learn more about digital wallets and get instructions on setting them up.

 

Infographic showing benefits of Digital Wallets

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