Today we all have debit, credit, discount or even public transport cards. They are practical and simple to use.
But what if we lose them? In this case we may be in trouble, but there is now an even safer option: Wallet apps.
First, physical money was replaced by “plastic money” when we started using debit or credit cards for almost everything. More recently, a new trend is emerging: digital money. The Wallet apps are the latest addition.
What are Wallet apps?
A Wallet application (eletronic Wallet, e-Wallet) is a mobile technology, designed for faster and more organized use of credit cards. In addition, some apps of this type help us to manage our expenses.
Apple Pay or Google Wallet and other services use wireless technology called Near Field Communication (NFC).
With Apple Pay the phone automatically unlocks when you approach an NFC reader installed in stores. The customer is then asked to leave his fingerprint to authorize the transaction. Google Wallet is not so fast because it requires the use of a password.
Benefits
- The Wallet application is an easy and simple to administer the use of our cards and bank transfers, offering options that help us manage our accounts.
- If you are one of those people who think that money can be at risk in a digital wallet, make a mistake.
- All Wallet apps offer a secure service with the use of a password to lock the wallet very well. Apple Pay is a secure system in that the card number is not kept anywhere, it uses a substitute number with which all operations can be carried out.
- Attractive discounts: sometimes a large amount of discounts can be obtained for the purchase of certain products as long as they are paid for with the digital wallet.
Disadvantages
- International restriction: all countries have different systems and therefore the digital wallet may not work abroad. This can be a disadvantage for those who have to travel a lot.
- Not all stores are able to use the digital wallet and this can be a disadvantage.
- Digital wallets depend a lot on devices because they can only be used with the help of a smartphone, laptop or tablet.
- As with any technology that is new, there is always a need for the public to adapt to change and there are still people who are reticent about Wallet applications.
- If you run out of battery, your Wallet app will have zero utility. This is the main reason why digital wallets cannot completely replace plastic cards.
