How does mobile wallet work?

Did you know your smartphone does more than take photos, access e-mail and play music?

As more people opt for contactless payment options, mobile wallet is taking the place of physical payment cards. With mobile wallet, it streamlines and secures your shopping experience.

What is mobile wallet?

Instead of having a physical card, your “wallet” lives on your mobile device. It’s a convenient way to pay for goods and services with your smartphone, smartwatch or any compatible device. A mobile wallet manages all your debit and credit cards, loyalty club memberships, reward cards, coupons and more. It may also help reduce fraud as mobile wallets are harder to steal or copy than physical money and cards.

How does mobile wallet work?

Download the mobile app of your choice to a compatible device like a smartphone. You then load the card information you want to store. When you make a purchase, you can either:

  • Choose the app and select your card at the checkout screen when you shop online.
  • Tap your phone to a digital payment-enabled terminal in participating stores.

Is mobile wallet secure?

Information on your mobile wallet is encrypted, making it potentially safer. However, it could pose security concerns if it is lost or stolen. As added protection, it is recommended to lock your phone using two-factor authentication such as setting up a personal identification number or fingerprint. You can also protect yourself by installing apps to locate your phone if you lose it or remotely wipe the data. This prevents thieves from accessing your personal information.

If you spot anything suspicious, change your password and contact your financial institution.

What wallet is right for me?

It’s about personal preference. It depends on how you interact with your apps, and what device and cards you own. Some popular mobile wallets include:

  • PayPal: Accepted online, but less frequently in retail stores.
  • Apple Pay: If you’re concerned with security, fingerprint authentication is an option for transactions. This app is only available for Apple devices such as an iPhone.
  • Google Pay: Only compatible with Android devices.
  • Samsung Pay: Only available on some Samsung devices.

Mobile Wallet with Adirondack Bank

Add your Adirondack Bank cards securely on your smartphones and use it to pay for purchases at millions of stores accepting mobile payments. From your app store, download the app and follow the on-screen instructions to load your card information. Android PayTM, Apply PayTM and Samsung PayTM allow you to add multiple cards.

The information is this article was obtained from various sources not associated with Adirondack Bank. While we believe it to be reliable and accurate, we do not warrant the accuracy or reliability of the information. Adirondack Bank is not responsible for, and does not endorse or approve, either implicitly or explicitly, the information provided or the content of any third-party sites that might be hyperlinked from this page. The information is not intended to replace manuals, instructions or information provided by a manufacturer or the advice of a qualified professional, or to affect coverage under any applicable insurance policy. These suggestions are not a complete list of every loss control measure. Adirondack Bank makes no guarantees of results from use of this information.

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