The way we shop and pay for everything from gas and groceries to furniture and home improvement supplies has evolved rapidly in recent months. The pandemic has pushed the trend toward quick, convenient and contactless transactions everywhere.
When you use a digital wallet, you don’t have to insert your card and wait for the chip to process or touch the payment terminal. All you have to do hold your device near the terminal to complete a transaction.
What’s a Digital Wallet?
Digital wallets such as Apple Pay®, Google Pay® and Samsung Pay® are apps that can hold digital versions of your compatible credit and debit cards. Once you add a card to your app, you can use your smartphone or smartwatch to make purchases in-store or online — simply look for the logo of your digital wallet or the contactless symbol. It’s a fast and convenient way to pay.
Instead of using your actual credit card or account numbers, digital wallets send two pieces of information to the terminal at checkout: a 16-digit token for the account number and a one-time code that’s created by your smartphone. This one-time code is generated every time a payment is made, so even if someone intercepts the wireless signal, the information won’t be useable.
Benefits of Digital Wallets
Digital wallets come with a few advantages over their plastic counterparts:
- Payments are contactless, simply tap or wave your smart device over the payment terminal. It takes just a few seconds.
- No need to enter your credit card number or shipping address every time you make a online purchase — it’s all stored and locked inside.
- Make purchases and pay in apps. With just a touch you can order a meal, hail a ride or buy that new pair of jeans.
- Just hold your device near the terminal to complete a transaction. No more swiping, signing or waiting for your EMV chip card to be accepted.
- Most retailers accept them. Millions of retail locations let you pay with digital wallets, with more adding compatibility each day.
Set Up Your Digital Wallet
Your Amegy Visa® Debit and/or Credit Card is compatible with digital wallets. Learn more about digital payment options for Amegy Bank cardholders.