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Essentials for Your Digital Wallet

Getting Started with Digital Wallet Basics

As we move from ‘swipe and sign’ to ‘tap and pay’, more people are discovering the convenience of having a reliable digital wallet. But much like the wallet in your pocket or purse, it’s important to know what to carry and what ends up being clutter. While there are many options, starting with the basic items will help you get familiar with using your digital wallet.

What Is a Digital Wallet?

A digital wallet lets you store financial information, such as credit card and debit card accounts, on your computer, smartphone or tablet. You’ll find a number of resources, apps and online shopping tools available to help you manage your money and buy products. To simplify your choices and to get comfortable with the virtual banking world, start with the following programs first.

Apple Pay® and Apple Wallet

Apple Pay is a mobile payment system that allows users to link their credit or debit cards to an iPhone, iPad or Apple Watch. To pay, users hold one of these Apple devices near a contactless reader while placing their finger on the Touch ID™ – there’s no requirement to open an app or wake the display. With Apple Wallet, you can store your credit card and debit card information, as well as passes, like tickets and gift cards, on your iPhone and use them to check in for flights, get in to movies or sports events, and redeem coupons.

Google Pay™ and Samsung Pay

Similar to Apple Pay, Google Pay and Samsung Pay are digital wallet options, especially for Android users. Google Pay is a mobile payment system that lets anyone with a Google account make electronic transactions in stores, online or to anyone in the U.S. with a Gmail address. It works with any debit or credit card, and requires Near Field Communication (NFC) technology. According to its website, Samsung Pay lets you carry your favorite cards on your devices so you can pay in-person, in-app or online. Samsung even offers an opportunity for users to earn cash back and get extra rewards for everyday purchases.

United Federal Credit Union

Financial institutions, including United, are working with these digital payment service providers to make life easier on Members and customers. United Members have the opportunity to link their United Visa® credit and debit cards to any of the digital wallet options mentioned above.

To strengthen digital wallet security, United also allows Members access to Visa® Secure (SRC). Visa SRC lets you pay online, fast and securely, on any device. And it's widely accepted and super easy. By storing your card and shipping information through Visa, users no longer have to type their information in every time during online checkout. Visa SRC reduces the need to enter your primary account numbers and passwords of any major card during your purchase transaction. In addition, Visa SRC provides a simpler, more consistent online checkout experience by using a single payment profile across various stores and devices.

The Bottom Line

The digital age has brought many conveniences to our lives—wireless, handsfree, and automated have become part of our daily routine. With a digital wallet, you can safely make online or in-store purchases and payments with a few taps. While there are different options available, each digital wallet service provides its users with new ways to manage their finances that allows for customization and ease-of-use. If you’re interested in creating your own digital wallet, start with the basics—your most-used credit cards, hotel reservations, boarding passes, gift cards, coupons, or store loyalty cards. As you use your digital wallet for these transactions, you can expand what you include based on your need and comfort level.