Last updated: June 18th, 2015
It is much safer and easier to shop with cards than carrying cash. That is why the trend of keeping cash in the wallet is diminishing day by day. Now you do not have to worry about taking huge amount of cash to buy a new iPhone as you can easily pay with a card.
People are even getting tired of taking their loyalty cards to markets as the new trend is arising. The system is changing again for good. Now, you can purchase stuff directly from your smartphone. There are many smartphone apps that can store your loyalty card and payment information. The two most famous digital wallets are Google wallet and Apple’s Passbook. These are the five best digital wallet apps from which you can benefit a lot:
1. Google Wallet
It is extremely easy to use Google Wallet. First you had to tap your credit card on the NFC machine, now you just have to wave your smartphone on the machine to pay the bills. You should have NFC technology on your smartphone or tablet for this to work. You can easily leave your wallet home by just linking your debit or credit card to your Google account. Unfortunately, this option is available for the credit cards and smartphones from the U.S only.
2. Apple’s Passbook
Apple’s passbook was launched with iOS 6. It scans 2D barcodes and manages concerts, movies and plane tickets along with your loyalty cards and coupons. It notifies you if you are near a shop where you can use your loyalty cards. It also reminds you of your flights or concerts when the date is near. You can add your passes through different apps. You cannot add debit or credit card for in-store purchases. If you want to view your bank balance, you can easily do that with the app BillGuard on your iPhone.
3. LifeLock Wallet
Lifelock Wallet is a great app as it is available for Android and iOS. It gives you FREE cloud storage to store your information of all your important cards such as debit, credit, loyalty, insurance member and ID cards so you can access them from anywhere by your smartphone. LifeLock members can enjoy convenient mobile access to LifeLock identity protection alerts including other services. Members can also get quick help in case of lost or stolen credit cards, debit cards, Social Security, driver’s license and insurance cards so you can get back easily on your way.
4. Square Wallet
Square Wallet is available for Android and iOS users. It requires the use of merchant cards so it doesn’t allow paying directly with the credit card. It is location based and the store would charge the card that is linked with your square account. It also offers Hands-Free Checkout and you just have to say your name at checkout. You can earn many different rewards and discounts by using square wallet.
Before we move onto the last one, we do have to give an honorary mention to PayPal, they’re not everyone’s favorite company but their app is very robust and is ideal for business use because so many people use it – freelancers, businesses and retailers.
Venmo is an app available for iOS and Android, a free digital wallet that allows you to pay and request money from your friends without any hassle. It can make you to add your bank or debit card from most banks and what’s incredible is that your payments are totally free! Also, if you collect money, you can send it to your bank for free and it will transfer money in one business day. Isn’t good?
Venmo provides a social way to pay your friends when you owe them money and don’t want to deal with cash. Sending and requesting money to & from your friends is very simple and you can even send money to people who don’t have Venmo accounts yet by simply paying their phone number or email address (they’ll just sign up to accept your payment).