Digital wallets are transforming the ways we pay. They make purchasing items and services easy, fast, and convenient. But with any newer form of payment, many people wonder how safe they are. Below,
we explore the answer!
Are Digital Wallets Safe?
Digital wallets are apps on your phone, computer, or tablet that store your payment information for online or in-app transactions. They’re just as safe as using your credit or debit card in-store, online, or another way. Digital wallets can even be safer than other payment methods for a few key reasons.
- Secure payments: Instead of providing the retailer or business with your actual card information, digital wallets provide a unique virtual card number. Unique virtual card numbers mean companies and retailers can’t store your real card information, keeping that secure.
- Secure logins: Digital wallets require logins to the apps before you can use the cards stored there, often in the form of passcodes, FaceID, or thumbprints. That means that even if your phone or tablet is lost or stolen, it will be challenging for someone to access your card info.
- Horizon support: When adding your Horizon card to a digital wallet, you still receive the same security features and support as you would with a physical card. Our EnFact debit card fraud protection monitors and stops any suspicious purchases or activities linked to your card, whether your charges are in-person or through a digital wallet.
All of these features together make digital wallets a safe and convenient way to pay. If you have any additional questions, please contact Horizon Bank at 888-873-2640.