How to stay safe using a digital wallet

Cardless payment services like Apple Pay, Android Pay from Google and Samsung Pay are slowly convincing us to ditch plastic for something more 21st century – the digital wallet.

But while many are already accustomed to paying for stuff with a phone, the less tech-savvy may be left scratching their heads.

A digital wallet allows consumers with a smart device (e.g. mobile phone or tablet) to buy things over the internet, or pay for goods in a shop or store using their device rather than a physical card.

Online purchases can also be made using a digital wallet from a PC in your own home.

Once registered, you can use your digital wallet to buy online without having to manually input your payment and shipping info.

As with anything tech-related, being sceptical is smart. And even though you can pay for pretty much anything these days with digital wallets, it’s no excuse to get careless. Financial Fraud Action UK (FFA UK) has this advice for anyone using a digital wallet:

Do not share the password for your digital wallet with anyone, and select a password which can’t be easily guessed.

Make sure you change your digital wallet password regularly – or immediately if you suspect that someone else might know it.

When accessing your digital wallet via your smart device or at your PC (for example, to check your account balance or add details of an additional card), if you are not using an application (app), always type the URL into the browser – NEVER enter the wallet via e-mail links.

When making a purchase at a retailer which is unfamiliar to you, be sure they are a legitimate trader. Do you know their contact phone number (not just a mobile phone number) and their physical postal address (not just a post office PO Box number)?

Think carefully before removing any security controls from your smart device: this is known as jail-breaking or rooting your device. This will weaken the security of your device, and expose you to additional risks.