Safer than you think to pay with your phone

THE use of digital wallets in Australia is soaring as more consumers whip out their smartphones to tap and pay at the checkout.

Smart watches and payment rings are other forms of technology bypassing the use of cards or cash. However, many Australians still resist jumping on the tech bandwagon.

Samsung Pay, Apple Pay and Google Wallet are some of the most popular payment methods used by shoppers to complete a transaction.

Roy Morgan figures show that awareness of newer forms of digital payments, such as smartphones, is now on most people’s radars.

About 93 per cent of people are aware of at least one digital payment option, while 72 per cent of people used one of these options in the past year.

Samsung Pay’s head, Mark Hodgson, said consumers should be aware using a phone to pay gives customers an added level of security.

“Your card number is not stored on your device; it is encrypted and made into a token and that resides on the device,” he said.

“Every time you make a payment, that token is presented to the network to make the payment.”

Customers must also authenticate before completing a transaction.

This could include using your fingerprint or face ID, depending on the device

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