CONVENIENCE: While not every merchant accepts digital transactions…YET…a large majority do, and more plan to provide those services in the future.That means if a store or company ever experience a cyberattack, your numbers and private information won’t get stolen! In fact, payments from digital wallets don’t even use your actual card number, but instead a token that’s only good at that merchant for that transaction. But payment apps are based on encryption software, meaning your information is secure and less likely to be hacked. If someone steals your wallet, your cash and cards are gone just like that. SECURITY: It’s hard to know which tech tools are really safe to use, but digital wallets are actually one of the best options out there to keep your information protected.What Are the Benefits of Using a Digital Wallet? All you have to do is wave or tap your phone, and you’re done. Mobile payments work just like regular transactions. With a payment app, all your Summit credit and debit cards can be stored in your digital wallet right on your phone, ready to use online or at a store wherever you see the pay wave icon. You can link the e-wallet to your bank account or pay as you go with a prepay option.ĭitching your real wallet (which, let’s be honest, contains mostly loose change and old receipts anyway) for a digital wallet is easier than you think. Ready to swipe right on your digital wallet? Here’s what you need to know: How Do Digital Wallets Work?Īn e-wallet is a secure money management app or online platform that allows you to make purchases with retailers on-site, transfer or send money and track rewards programs. What’s the difference between an e-wallet and a mobile wallet, you ask? Well, while the two bear similar features, the e-wallet can be accessed on a wider range of devices, like a desktop, laptop and mobile device, whereas the mobile wallet is exclusively accessible via your mobile device.

Plus, it’s a great way to make payments with your phone safely. Also called an e-wallet, digital wallets include apps like Apple Pay, Google Pay and Samsung Pay, and can be used to make payments right on your phone or smartwatch without stopping to dig around in your purse, futz with your wallet and then race to get your cash or card out. Never heard of a “digital wallet”? No biggie.

Ewallet code