How to Get the Most Out of Your Digital Wallet

Digital wallets are fast becoming the way of the future for contractors and workers all over the world. It’s an efficient method to send and receive money online, and it can be tied to bank accounts or used at credit card terminals in place of a card. These wallets have become a staple of the developing world, but retailers in the US, China and elsewhere are utilizing them as well. Here’s how to get the most out of yours.

Keep it Locked Down

Step one is to follow proper security protocol, says Password protect your device, and utilize two factor authentication where possible. Make sure you avoid installing apps you don’t trust, and that you keep your phone as safe as you can. Do everything in your power to avoid theft, as stealing your phone could grant access to your wallet if you’ve ignored this advice and left it unlocked.

Discounts and Cashback

Like any account, there are fees associated with wallets but you can recoup those losses with discount and cashback rewards. Wallets often negotiate special deals with retailers, which gives you the chance to buy the products you love at a more affordable price. The wallets themselves may offer cash back incentives just for using the service. Be sure to shop around and choose the best rewards for you.

Try Various Wallets

Not all services are the same, and you’ll find it’s often a good idea to separate your accounts. It allows you to track payments for your business, your personal life, and your savings. It’s ok to have the main wallet you use for shopping, with other wallets you might use strictly for the benefits they provide. This doesn’t hurt your credit, and it’s as safe as your device is. Try it out and see the savings for yourself.