Digital wallets store your DFCU Financial Mastercard® Debit Card and/or DFCU Visa® Platinum Credit Card information virtually for quick checkouts when you shop in-store, in-app or online. Add your eligible cards today and enjoy all your card perks PLUS the added convenience and security of a digital wallet!
There are two main types of digital wallets: device-based and web-based.
Device-based digital wallets use near field communication (NFC) technology that enables users to pay for purchases without swiping their credit or debit card. Instead, customers simply wave their phone or other NFC-capable device, such as a smartwatch, near a reader at a merchant to transmit payment account information.
Compatible Samsung Pay phones will also work with traditional magnetic stripe terminals. With terminals that aren’t capable of accepting contactless payments, Samsung Pay emits a magnetic signal that allows a phone to be used like a traditional magnetic stripe card by sliding it above the magnetic stripe reader.
Apple Pay, Samsung Pay and Google Pay are examples of device-based digital wallets because they require a smartphone or smartwatch to make a payment.
Web-based digital wallets allow customers to add credit or debit card information to a personal account or profile. When customers make a purchase online, they log into this account and use it to pay for their purchase. This type of digital wallet allows users to pay for purchases without providing their card details, billing/shipping address or creating an account on the website on which they’re shopping. Visa Checkout and Mastercard Masterpass are examples of internet-based digital wallets, because they don’t require a mobile device to use. Instead, they use an online profile and saved card information to pay for purchases.