Remember when you were in school and your teacher told you, “You’ll never be walking around with a calculator in your pocket”?

Well, today your mobile phone (and your teacher’s) is not just a calculator, it’s also a camera, a webcam, a GPS, a CD player, a computer, and a game console – just to name a few.

One of the more recent smartphone developments is the concept of a digital wallet. This involves storing your credit/debit card on your smartphone using a secure app. If you haven’t jumped on the bandwagon yet, check out the 7 reasons below to see if a digital wallet could be the right next step for you.

  1. They’re safer and more secure. Digital wallets can reduce the risk of fraud, as your payment info is protected under multiple layers of security. Your card details and transaction information are not stored on your device or handed over to merchants at the point of sale.
  2. They’re more convenient. No more panicking at the register while you hold up the line looking for your physical cards or wallet. You can simply tap and go with your phone – in most cases you don’t even need to open the wallet app.
  3. They’re accepted at hundreds of thousands of merchants. These digital cards can be used in any store accepting Apple Pay and Google Pay.
  4. They make online shopping even easier. You can use your digital wallet to make easier, safer payments in selected apps and on participating websites. Easier because you don’t have to remember your credit card number or waste time typing information in and safer, as you can reduce the amount of stores that hold your card information.
  5. They’re available on both Apple and Android smartphones. Depending on your model, you can use your Bank of us cards with Apple Pay or Google Pay.
  6. They’re free. Apple Pay and Google Pay don’t charge any extra fees to use your card digitally. The usual credit or debit charges may still apply.
  7. They reduce the space in your physical wallet. You can add multiple cards to your digital wallet, including your loyalty, rewards, membership, and gift cards.

There you go, 7 reasons to consider using a digital wallet. Click the links to read more about Apple Pay and Google Pay.

 Please note this information is general in nature and does not take into account your personal circumstances or objectives. You should consider this before acting on any of the information contained.