The COVID-19 pandemic is having a major impact on payment preferences as consumers and businesses have been forced to drastically change their habits. Consumers are reconsidering handling cash, passing cards to cashiers, and contacting payment terminals to protect themselves from the virus. Some businesses, as a result, are expected to accelerate the acceptance of digital payments.
Why it’s time to embrace mobile wallets and contactless payments
Mobile wallets are smartphone apps that use Near Field Communication technology to encrypt and securely transmit your debit card data to a merchant payment terminal with a tap of your phone.
Mobile wallets do not display card numbers anywhere, and actual card numbers aren’t transmitted while making a payment. Instead, random one-time payment codes are used, making this payment process safe and secure. Mobile wallet can give you a contactless option for using your debit card on your phone, helping you avoid touching merchant pin pads and handling cash.
But don’t forget—it’s smart to regularly clean your phone, because it’s a high-touch object.
Many ways to make contactless purchases
- At the store – Pay without reaching for your wallet – in fact, you don’t even have to take it with you when you have mobile wallet set up. Simply hold your phone over the payment terminal, verify the purchase, and voilà! In a matter of seconds your transaction is complete.
- On your phone – You don’t have to type in card numbers when you shop using your phone. From your mobile wallet, you can make purchases with just a few taps.
- Within apps – It’s easy to fund your favorite reloadable apps using mobile wallet.
An extra perk
If you have a Camden National Bank Promise Rewards or Promise Premier checking account with us, you still receive cash-back debit card rewards when you use your mobile wallet!
We’re here to help
If you have questions about using your mobile wallet or would like to learn more about any of our digital banking tools, please reach out to your local banking center or give us a call 24/7 at 800-860-8821.