Secure your card through a digital wallet

Digital wallet usage has grown significantly in Australia over the last year. If you haven’t set one up yet you may have some questions about the security of this payment method compared to physical cards.

One of the security advantages digital wallets has over cards, is their access to the computing power and features of your smartphone, including specialised security hardware for protecting personal and card information. This gives the digital wallet app secure storage for payment information, where other apps or malware cannot access it.

1. The first layer of security comes into play when you add the card to the wallet, with the app requiring you to verify that you are the owner before you can make payments. This involves a one-time password sent via SMS or email.
2. The second layer depends on how you control access to your phone. That control can be the use of a PIN, pattern code or biometrics (face, eye or fingerprint). If your phone is lost, no one can use the digital wallet to make purchases without passing verification.
3. The third layer of security is tokenisation. To increase security, digital wallets do not store card details or share them when the payment is made. Data stored in digital wallets is encrypted, meaning your actual card number isn’t transmitted during the payment.
   Full card details are also not displayed in the wallet, meaning prying eyes won’t be able to capture and record card details for unauthorised use.

Make payments easier and more securely straight from your phone or smart watch. Link your Visa Debit card to your device and start tapping today. For more information click here.