8 top digital wallet companies
You can use your digital wallet in store at many of your favorite locations. Just hold your phone near the reader and authorize the payment. Now at select hotels you can add your hotel key to Wallet right after making a reservation. Platforms that can sweep up a critical mass of users will have a large advantage. At the moment, some users are turning to Venmo while older users, who grew up with eBay, staying either with PayPal or with their banks. These stories demonstrate the biggest risks of peer-to-peer payment systems. Three days after the money appeared in his account, it was gone. Digital wallets use advanced encryption to ensure that your payment information never leaves your smartphone. And becauses digital wallets sit within your passcode-protected device, with payments often only possible via fingerprint, they’re quite secure. Many wallets also have additional security protocols, like two-factor authentication one-time PINs, that can be used if needed. A digital wallet ...