What Americans Should Know About Digital Wallets
Digital wallets are systems that store payment information virtually so users can easily make purchases online. With apps like Venmo, Apple Pay, Android Pay, Google Wallet, and more, digital wallets are rapidly increasing in popularity, particularly among Millennials. However, there is still a large percentage of society that has reservations about storing their account information online.
The Security of Digital Wallets
It is a common concern that online banking and the use of mobile devices to conduct transactions compromises the security of your account. This, however, is a myth. Banks and other financial institutions have a thorough knowledge of the risks involved with retaining personal information online, which is why they have built secure infrastructures with strict identification requirements and other access restrictions to ensure your information remains protected.
The same is true of digital wallets. Experts in the world of finance are not concerned about the security of these apps and systems and say the public shouldn’t be either. Digital wallets implement the following safety features to protect user accounts and information:
What Users Can Do to Protect Their Information
In addition to the safety features put in place by digital wallets and online banking institutions, there are some precautions everyone can take to keep their personal and financial information secure. Important safety measures include:
Set Up Online Banking
If you’re ready to transition to online banking and digital wallets, Clark County Credit Union makes it safe and easy. We offer secure online banking services, including e-statements and CheckFree™ Bill Payer for added convenience. In addition, we will soon be offering Apple Pay. To become a Clark County Credit Union member, or for more information, contact us today at 702-228-2228.