Digital Wallet: Frequently Asked Questions
Q: What is a digital wallet?
A: A digital wallet is a service that securely stores data such as your payment information, as well as ship–to and billing addresses. Then when you make a purchase online or with a smartphone, you never have to enter an account number and this information is never shared with the merchant.
Q: How safe is my information?
A: All you personnel information such as payment, shipping, and identity is encrypted behind multiple layers of security.
Q: What information is kept in a digital wallet?
A: Digital wallets use a cloud based system generally to securely store the information you typically keep in wallet, purse, such as credit/debit cards and various forms of ID. Eventually digital wallets will also offer options like coupons, receipts, concert tickets and even airline boarding passes.
Q: Are digital wallets accepted at my favorite stores?
A: More and more businesses both large and small are regularly being added to digital wallet services, so as time passes more of them will work at your favorite stores.
Q: What is the benefit of using digital wallets?
A: They securely consolidate and store your purchasing and identity information so that it’s accessible when you need it. When completing a transaction the merchant never sees your account number or any other protected personal information. Like a purchasing go–between!
Q: Which devices work with digital wallets?
A: Some work from desktop or laptop computer, but the mobility factor is used with smartphones. It’s always on hand and easier than ever to complete transactions from wherever you are.