In a nutshell – a Digital Wallet allows you to pay with your smartphone in stores and on-line.
How does it work?
Start by downloading the digital wallet app of your choice then follow the prompts on your smartphone to add your Harvest Bank debit card information. When using your card in stores, open the Digital Wallet App on your phone, (unlock the device or enter a passcode), the steps may vary slightly by terminal but in most cases, you simply hold your phone close to the merchant’s terminal. Digital Wallets use a Near-Field Communication (NFC) chip to process the transaction.
Is it safe?
When you add your debit card to your digital wallet, it does not store your card information on your smartphone. A “token” is created at the point of purchase and used in place of your card number. Your card number is never exposed if the merchant experiences a data breach. The “token” is of no use to the fraudster and your card information is not compromised. The iPhone requires authentication such as a fingerprint or code. The auto-lock feature on your smartphone can add a layer of protection.
Where can I use it?
Many retailers are already using payment processing terminals that accept digital wallets. Look for the following symbols to identify where digital wallets can be used.
In summary, Digital Wallets are convenient and secure. They give you the option of moving your wallet from your back pocket to your phone. If you would like more information on Digital Wallets, contact your local branch.
