Mobile Wallet has arrived at F&M Bank!
Did you know that you can now use your phone or Smart Watch to make purchases with your F&M debit card? You can! Conveniently, safely and securely with a mobile wallet app.
What is a mobile wallet app?
A mobile wallet or digital wallet is essentially a “virtual wallet” application (app) that stores your debit or payment card information on a mobile device such as an iPhone, tablet or Smart Watch which allows you to make in-store purchases directly from those devices. Best of all, once set up, the payment process itself is safe, secure and as convenient as tapping a few keys on your phone or laying your mobile device on or near a merchant’s compatible payment device to complete the transaction.
Why should you get one?
The primary benefits of mobile wallets are security and convenience. After setting up the app, you don’t have to carry your payment card(s) with you. Payment transactions are digitally encrypted, securely stored by the mobile payment provider and much quicker than paying with cash or a credit card. When you’re ready to pay, you simply open the app, touch your phone to compatible reader or place it in front of the scanner next to a register, and away you go!
Where do you get one?
There are now several mobile wallets which are compatible with specific devices and, like a credit card, your mobile wallet will only work with retailers that accept your specific device as a payment method. Many of the most popular and versatile mobile wallet apps are already integrated into mobile devices, however, you can download other merchant-specific apps from the app stores like Starbucks, Walmart and other major retailers that you frequently visit. It makes shopping a breeze!
Some things to know
First, not every mobile device is compatible with mobile wallet technology, especially if you have an older device, and some of these will limit which integrated wallets you can use. For example iPhones support Apple Pay; Android phones have Google Pay; and Samsung phones have Samsung Pay, yet you can download other mobile wallet apps to use wherever they are accepted.
Keep in mind some merchant-specific wallets like the Starbucks mobile app will only work in Starbucks stores or online, but you can frequently earn bonus points for free drinks and/or merchandise by using a specific merchant’s app and linking them to you F&M Bank account.
Contact us today so we can help you set up your mobile wallet!
published on 5/17/2019