Apple PayMobile payment is one of those chicken-and-egg things. Some people who haven’t tried it feel they should wait for more stores to accept it. Meanwhile, stores feel they should wait for more customers to ask for it.

But most people who use it like the speed and convenience of waving their smartphone over a terminal to check out. In fact, mobile payments are predicted to more than double in value to $62.5 billion this year. If you haven’t tried Apple Pay, Android Pay, or Samsung Pay to make payments from your checking, savings, or credit card consider these four reasons to give it a whirl this summer: (WCFCU currently offers only Apple Pay, but if there is interest in Android/Samsung Pay, please email Card Apple Pay

  1. It’s faster than a chip card. It takes as long as 15 seconds for a terminal to read a chip card, a small eternity when you’re rarin’ to move on. Smartphone payments take only a second or so. Just hold your phone over the terminal and confirm your identity with a PIN or a fingerprint.
  2. It’s safer than swiping. Cards that use magnetic stripes can be stolen, cloned, and used to loot your account. But each mobile payment is based on a random one-time code called a token that’s useless if copied. And a lost or stolen phone can’t be used for fraud, since only you have the right PIN or fingerprint to confirm the transaction. (This also keeps you from accidentally triggering a payment.)
  3. It’s available at most major retailers. Samsung Pay works nearly everywhere that accepts credit cards. Apple Pay and Android Pay use a less broad-based technology that’s available at 35{a16c29276902c0134dc3724dc6f6a60124a484baf737123e94c02cf5a4efbdc5} of U.S. retailers including Macy’s, Target, McDonald’s, and Walgreens.
  4. It can save you money. New customers may qualify for rewards and deals from their “mobile wallet” provider—Apple, Samsung, or Google.

You don’t need to contact us to get started. After you activate the right app for your phone, scan the debit or credit card linked to the account you want to pay with. After that one-time setup, payments will show up on your account statement. As long as you keep your phone charged, your mobile payments will always be right on the money.

Source: Athena Cao, “Get Smart About Mobile Payments,” Money, March 2017