Why You Should Use a Mobile Wallet and How to Build One

We can shop for almost everything right from our smartphones, so it only makes sense that we would pay for things from our phones, too. Mobile wallets aren’t brand new, but they’ve become more widely accepted by consumers and retailers. In fact, mobile wallets in the U.S. are expected to surpass the use of traditional credit and debit cards by 2020, according to WorldPay.

People get nervous about mobile wallets because they’re so different from how they’re used to buying things,” says Robin Dumas, VP, Electronic Banking Manager at Community Bank. However, mobile wallets are proving more and more that they are safe, reliable, and easy to use. If you can embrace it, it can be a helpful tool for you.” 

Building your mobile wallet is simple and more secure than you might think. Here’s a how-to for building your mobile wallet with confidence.

Step 1: Compile Your Cards

Get the credit and debit cards that you want to sync up ready, and even jot down a list of them that you can cross out as you upload. If you want to test it out with a single card and add others later, go for it!

Step 2: Select the Right Service

This is based largely on your device. You’ll want to look into Apple Pay for iPhone users and Google Pay for Android users. Google Pay can work for either device, but it’s built best for Android users. Others, like PayPal, Venmo and Cash, work for both platforms.

Step 3: Add Your Cards

Most apps have you snap photos of your cards to upload the info, and then you’re good to go. Add one account at a time and cross each off your list. Some apps have the option to select a primary card, so consider whether that’s a good fit for you.

Step 4: Security Measures

If your smartphone has biometric password capabilities (eyes, facial recognition or fingerprint), use that for the strongest security. Otherwise, create strong passwords and put them in a safe place (e.g., a mobile app like Norton IDSafe). Then make sure you understand your options for accessing your account if the phone is lost or stolen.

Step 5: Take it for a Test Drive

Use your mobile wallet for something small so you feel comfortable and confident with how it works. Then get to know the app’s other features. The more you know, the more you can get out of it!

So go to the movies, out to dinner or on vacation and leave your old wallet at home knowing that the same thing you use to take pictures and check emails can also pay the bill.

The Community Bank mobile app can help you keep your finances in check. Download it today for Android or iOS devices. 

Personal Finance

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