The Perks of Mobile Wallet and Digital Issuance

Tap-to-pay has quickly become a common sight at checkout counters, and mobile wallets are playing a major role in how people pay for everyday purchases. What started as a new technology has become a convenient payment option used by millions of consumers.

Mobile wallets offer more than just a new way to pay. From enhanced security features to easier account management, it can help simplify your financial life in several ways. Let's look at some of the biggest benefits.

Enhanced Security

Adding your debit and credit cards to a mobile wallet may seem risky at first, but mobile wallets are designed with multiple layers of security that can help protect your information. To help members feel confident using mobile wallets, financial institutions like Education First provide secure and reliable payment options.

Your Card Number Stays Private

When you pay with a mobile wallet, merchants typically receive a unique transaction credential rather than your actual card number. This helps reduce the chances of your payment information being exposed during a purchase.

Security Built into Your Device

Most mobile wallets require identity verification through a fingerprint, facial recognition, passcode, or another security measure before a payment can be approved. Even if your phone is lost or stolen, accessing your payment information isn't as simple as opening an app. This protection helps offer stronger security than traditional debit or credit cards, which, if stolen, can sometimes be used for fraudulent purchases.

Less Reliance on Physical Cards

Every time a physical card is inserted, swiped, or tapped, there is some exposure to card theft techniques, such as skimming. Mobile wallets can reduce how often you need to use your physical card, helping limit those opportunities.

Cards can be Digitally Issued Instantly

With Education First FCU’s digital issuance feature, setting up your totalREWARDs card in your mobile wallet has never been easier. Within the Card Management section of the Education First mobile app, you’ll find the option to add your card to a mobile wallet.  Simply follow the on-screen instructions, and your card is available to use instantly. It’s really that easy, and it does not require waiting for a physical card to arrive in the mail! If you want to view step-by-step instructions on setting this up, click here.

Faster, More Convenient Payments

In addition to enhanced security, mobile wallets also make everyday payments more convenient, especially as more retailers adopt tap-to-pay technology. You can complete in-person purchases quickly using your smartphone or smartwatch, eliminating the need to carry cash or sort through multiple cards in your wallet.

Mobile wallets also simplify online shopping by enabling one-tap payments, reducing the need to repeatedly enter card details across different websites.

Plus, with Education First FCU’s new digital issuance feature, you can start using your card digitally right away without waiting for a physical card to arrive in the mail. It’s a convenient, secure, and flexible way to manage your payments from day one.

Everything In One Place

With the growing number of things we need to carry each day, having everything in one secure place can make a big difference. A mobile wallet allows you to store all your cards in one convenient location, so you always know exactly where your payment methods are and can access them instantly when you need them.

Beyond just debit and credit cards, many mobile wallets can also store loyalty cards, tickets, and other essentials, which helps reduce clutter and make everyday transactions more streamlined and efficient.

Greater Peace of Mind

Life is busy enough without having to worry about whether you've forgotten your wallet at home or misplaced a card. With a mobile wallet, your payment methods are available right on your smartphone or smartwatch, making it easier to access what you need when you need it.

Many mobile wallets also give you more control over your cards, allowing you to quickly manage payment methods and monitor activity from your device. Combined with built-in security features and the convenience of having everything in one place, mobile wallets can provide added confidence and peace of mind throughout your day.

Ready to Get Started?

Mobile wallets have quickly become a popular way to pay. Whether you're making purchases in-store, shopping online, or simply looking for an easier way to manage your cards, a mobile wallet can help simplify your everyday routine.

With Education First FCU's digital issuance feature, getting started is easier than ever. Simply add your totalREWARDs card to your preferred digital wallet through the Education First mobile app and start enjoying the benefits of fast, secure payments right from your smartphone or smartwatch. For more information on mobile wallets, click here.