4 Benefits of a Mobile Wallet
Posted on May 10, 2017
Maybe it’s new to you. Maybe the woman in front of you at the coffee shop used one. Maybe you’re leading the trend. Whether it’s Apple Pay™, Android Pay or another mobile wallet, app-based payment methods are here to stay. And for good reason!
Using a near-field communication (NFC) chip in your smartphone, mobile wallets offer many advantages over traditional payment methods, including:
- Extra layers of security. Mobile wallets encrypt your credit card information and many use a payment code entirely separate from your credit card number for making payments. In addition, you’re in control of your device at all times, and some even require a fingerprint scan when paying. These added protections can help to minimize the risk of card fraud.
- Loyalty program tracking. In addition to storing card information, most mobile wallets can also store your favorite loyalty cards, allowing you to continue earning points and score special deals. Forgetting your punch card can be a thing of the past.
- Easy money management. While online account management has made budgeting easier, with multiple cards and accounts it can be difficult to keep track of spending. Most mobile payment apps allow you to easily see recent spending on all your connected cards, saving you time and the headache of logging in to multiple websites.
- Increased payment speed. Without the need to search through your wallet for the right card, paying can be faster than ever. Some merchants even allow you to skip the line entirely when using a mobile wallet app to pay for items you’ve ordered online or from your phone.
Helping You Prepare for Your Financial Future
Chemical Bank is excited to announce that we are mobile wallet compatible! Check out our website for additional information! We offer debit card options that are compatible with the latest mobile wallet systems. To learn more about our debit cards, call (800) 867-9757 or visit www.ChemicalBank.com.