When you have chosen to carry literally everything else in your phone, why should wallets lag behind?
We already know that it is easy to download mobile wallets, link them to your credit card/debit card or bank account and make life easier through tap-and-go payments. But, the truth is that the benefits of digital wallets go beyond ease of billing.
From security to convenient financial management, here’s why you should ditch the idea of carrying cash and shift to mobile wallets instead!
You can complete transactions within seconds
Wish you can send up to $250 on a basic Cash App account in a 7-day? Need to pay for an item you just purchased online? At a gas station and want to pay with your phone?
No problem!
All payments done through mobile wallets go through instantly and just need a number of clicks here and there. Now think about getting in the long queue in your bank to make the same deposit. Scary, right? We thought so too!
You money is always in reach and accessible
There are digital wallets that allow you to link multiple cards and accounts. In this way, you can choose which one you wish to use.
Consequently, all your funds will be within reach whenever you need them.
Moreover, wallets like Cash App allow you to withdraw funds at an ATM just like you would otherwise do with a debit card. With minimal fee, you can have cash in your hand if you happen to land in a situation where paper money is required.
They allow you to schedule payments so you are never late
Nobody deserves to come home after a tiring day only to find out that the internet bill or cable charges are overdue.
Mobile wallets let you avoid just that by allowing you to schedule when a certain bill is transacted. You can choose the Autopay option and the funds will be deducted automatically on the set date.
There is absolutely no compromise on security
You always carry the risk of losing a physical wallet which makes mobile options safer and more reliable.
Technically, you may lose your mobile wallet as well (What if someone snatches your phone?) Although that is a possibility, your funds in the online account would be safe as long as you have protected the access through password or PIN.
On top of that, such apps use encrypted payment codes to ensure high-level security of your personal information, money transfers, and more.
Lastly, they are an ideal choice if you wish to avail special offers and discounts
As a way to attract customers to contactless payments, there are a number of merchants and mobile wallet companies that give out promotions, cash back offers, gifts, and reward points if you choose to pay through it.
These incentives not only make their use interesting but can also help you save substantial amounts of money in the long run.
Take-Home Message
You can see that mobile wallets carry significant benefits over traditional forms of payment i.e. cash.
However, the layers of security can not guide you against your own mistakes. You need to be careful about how you utilize these online tools or you can end up in an uncomfortable situation.