You use your smartphone for directions, to communicate, to do your banking, to search the web, and to play games. It's basically your life-line. Why not use it to make payments, too?
Well, that seems to be the growing trend. In 2015, millions of people worldwide jumped on board with the new mobile payment technology. And, even more businesses are adopting the new payment technology today. Let's face it, your smartphone is becoming an all-in-one device, and using it to make payments makes sense.
But is it safe?
I get it - before hopping on the bandwagon, you want to make sure that using your phone to make payments is actually safe. The experts say it is. In fact, it's often more safe than regular transactions with a debit or credit card. During a mobile payment transaction, none of your financial information is transmitted. Instead, a one-time token is used to capture the necessary payment information. This makes the process safer for you, and more difficult for your information to be stolen.
How Does it Work?
Simply place your phone near the contact-less terminal, and you're good to go! Millions of stores across the U.S. accept both Apple and Android Pay.
How do you know when and where to use Apple Pay? Find out more about Apple Pay.
How do you know when to use Android Pay? Learn more about Android Pay.
Want to learn more?
Contact your credit union today to find out how you can start using your phone to pay!