Is your phone’s digital wallet safer than plastics?
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- Опубликовано: 20 дек 2023
- As tap-to-pay transactions are estimated to grow by more than 150% over the next few years, we look at how safe they are to use.
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As a Canadian I find it so weird Americans still give their plastic cards to a server in a restaurant and walks off with it. We haven’t done that here since early 2000s. We get our credit card terminals brought to our tables where we can insert our own cards. And with the advent of Apple Pay/Google Pay it’s even easier and your phone’s chip where the credit card number is stored is airlocked, not connected to the internet at all. And in Canada, all retailers have tap-to-pay terminals so all retailers have access to Apple Pay/Google Pay. If I’m paying debit, I ONLY use Apple Pay. We may not have everything you Yanks have, but man we got this one right. Again I was shocked with just how backward paying for anything was the last time I was in the US back in the Spring.
I agree as an American
Whole Foods has a Palm ID payment system. I simply wave my palm over the device and it charges my card.
Unfortunately in America we have too many thieves. If they steal our and get in our phone, they will steal all our money. It's happening every day here somewhere.
As an American, I agree
It's because the U.S. doesn't have a mandate on the change over and we are too complacent in our ways. Another reason why we don't move over to the metric system, which is way easier. Plus I think that the companies that offer "tap to pay" convenience is overcharging retailers on the equipment, so they're reluctant to convert over. It all seems to boil down to making as much profit as they can.
I use my Apple Pay whenever I can. It's safer, easier and faster. I'm almost 65 years old and I have to show the younger generation in how to use it. Years ago when that feature came out, I'm like "That's so stupid. I would never do that." Well....I'm doing it.
Credit/Debt cards should NOT have any kind of magnetic strip on it...whatsoever. ALL of your info is on that strip. They really shouldn't even have the credit card number, expiration date and 4 digit security code ANYWHERE on that card. I'm really tempted to take a large magnet and erase that strip so retailers can't swipe with it. If they say "Your card is no good, it won't swipe." It's almost 2024, get with it! Plus, I cringe every time a server walks away with my card to complete the transaction. Some restaurants bring the terminal out to your table, but that's rare. I hardly ever have cash in my wallet but maybe I should.
I wish Walmart would support Apple Pay. They don’t in the US but Canadian Walmart supports it.
Definitely worst part about Walmart!!!
...and that's why I prefer Target 🎯
They wont use it since digital wallets hide your shopping history under anonymous, which they cant use for their gain.
OMG! YES!
I suspect Apple (and Google) ALSO (in addition to their payment processors) charge a process fee. That adds another fee that contractually can not be tacked on to YOUR bill if you use that extra 'service'. Lower prices, means NOT eating extra cost of doing business. (I remember calculating my break even 'sale'. It was $5.00 with our standard markup (pre-priced items mean you can't raise above what is marked. State law; lowest of marked or scanned). That is still a loss as there was no Labor, rent, utilities.
As a person who had his debit card info stolen several times, as soon as I switched over to a Apple Wallet because someone working at the Apple Store told me it's more secure, my card info has never been stolen after that. Definitely worth it
I just started using this myself and used it recently on my first trip to Paris. I used my phone for the metro and everything. It was so easy and seamless and available everywhere in France.
Metro.... good one
_*laughs in American_
@@lars2894 joined in 2022 and first comment is this equals Bot / fake account. 😅🤣🤣 .
/s Wooooosh
(That is self-deprecating sarcastic humor making fun of America's poor public transportation system compared to other developed countries like France, in case you missed the context of it. Also, my profile is edited & private so what you see when you click on it isn't necessarily "true" information ;-) sorry)
Check WSJ’s story on stolen iPhones. Digital wallets are great but MAKE SURE no one sees you put in your phone’s pin.
Better yet, never use a PIN. Use the Biometrics only.
@@spazzman90 YES. Fingerprint user here
Remember seeing Japan using flip phones for tap payments over a decade ago. Took a very long time before it’s catching on in the US. I still see many people using their cards instead of phone tap payments.
Some places don’t give you receipts or forget to ask if you want one. The charge is logged onto your digital wallet so I can always go back and do my budgeting that way instead of fumbling through multiple receipts figuring how much I spent.
What they failed to mention is the older Samsung pay was compatible with 100% of card readers because it did not rely on tap to pay although they did have it another thing they failed to mention is the fact it is actually faster to use tap to pay then to insert the plastic card they also failed to mention that even if your card has tap to pay it is vulnerable. The information can be stolen with the RFID reader this is why it is safer to use Apple Pay, or Google pay myself. I prefer Apple Pay due to it, requiring Face ID before the transaction can be made
Samsung is king. Thats why lol
@@pappadudat that’s you’re opinion
Dang! I need it to Walmart and Home Depot are remaining without it tap to pay
when I travel to china 5yrs ago, I was shocked everything over there is paid via the phone. no one carries a card or cash
China is monitoring all your geo and info about you.
I remember one of my younger coworkers inteoduced me to digital wallet...besr thing she ever done! Ever since ive been using it, i no longer have an issue with my card number being stolen (use to happen to me at least once a year).
Restaurants still require plastic, and a dishonest waiter can swipe your information.
I've been using tap-to-pay as much as I could since Google Wallet launched way back in 2011, but I'm glad Apple Pay in 2014 further pushed it as an accepted form of payment to more people and places. With that said, I suppose I also have to give credit to COVID19 for further encouraging contactless payment methods that made tap-to-pay even more common than it's ever been in the US.
I tried it from my iPhone or Apple Watch on a vending machine a couple times. Walmart had updated their card thing at the checkout. I still used my debit card. The same for Target.
I usually hate laws that enforce things that can cost companies money; but often wish there was a law to require digital payment options - hate the fact that many gas stations still require a card, that Wal-Mart and other grocery stores require a card, etc…
Installing the equipment to do the electronic verification is not cheap. Gas pumps and retail store checkout equipment is "expensive" and won't be replaced until well worn out.
Note also that gas stations, grocery stores, and large retail discount chains are low profit margin businesses (most gas stations make more money from selling snacks inside the store than they make selling gasoline). So that's even less incentive to change the pumps or registers.
Right, there's no compulsion to change because all the owner sees is additional upfront costs, while not enough of the liabilities of fraud and hacks tied to their outdated POS system.
What about phones that don't have NFC? I never used a digital wallet because some of my past phones weren't nfc capable... I did like when my bank gave you the option to create a temporary digital card number when shopping online. You could assign how long that digital number was active for...3 days, 7 days, up to 3 months...then that number would expire and your real card number remained intact...great for merchants that automatically default you into a recurring subscription... My bank stopped giving people that option and I'm not sure why. I saw it as an advancement in digital security.
I wish more gas station pumps in my area had tap to pay, but most are swipe to pay.
Short and quick answer - Yes.
Apple Pay and mobile payments are most efficient for outdoor transactions. At the gas pump. At the drive thru. At the bank teller window. All places where security means keeping cash and cards out of sight with speed being crucial. There's just nothing faster than tapping to pay with your watch.
Didn't know people didn't know about this -- have been using it for years now. Fast, easy, and safe. I only carry one physical card with me for the occasional gas station that isn't set-up for digital payments. Was so happy once NYC installed ability for digital payments at all subway stations, and finally JFK got it for AirTrain. Now state governments gotta work on IDs/Driver's Licenses in more states to move to digital -- what's the hold up?
Just in case you didn't know, a lot of gas stations will allow you to use contactless payments within their app (if they have one). I do this all the time at Exxon and Shell stations in my area that don't have contactless payments setup just yet.
@@MikeAbili -- Thanks!
What has really helped me is having the option regardless I still like to swipe cards. My phone has NFC but the only experience I've appreciated is Monzo.
What they don't mention is that if someone steals your phone and your lock screen code, they will be able to lock you out of your phone account and have access to all of your credit cards. All because they saw what numbers you typed in on the screen before they stole the phone from your hands.
I think it’s safer so I will use it whenever I don’t have to pull out my wallet. I forget my card or wallet when I’m checking out stuff
I like it because one time I forgot my wallet and drivers license at the ATM and the teller said, do you have your phone? I said yes.
I have always been hesitant to use “tap to pay” but this video has increased my confidence!
You can use tap-to-pay on your physical card instead if you don't want to jump into the digital wallet method just yet. The security is the same, minus the extra authentication with the digital wallet.
@@MikeAbiliI prefer my tap card. Can't ever seem to get mobile wallet to scan scanners with bad data connection near vending machines.
At my work. I heard visa added tokenization to their tap to pay cards.
Wait I thought paying by tap or e wallet has been widely used in the US for a long time now. I've been using apple pay or apple watch for almost 4 years here in Ireland and in the UK.
We know how to spend money. The problem is that we don't have enough of it
Been using Apple Pay for years even avoid retailers who don’t use as I often go out without my card.
I always use my phone or watch. I don't want to pull out and show my cards, especially if there more higher end cards. because I fell like that sends a bad message. especially these days, where robberies can happen anywhere.
In the US Home Depot doesn’t allow tap but in Canada they do. Home Depot is part of the 15% and it is a pain to carry the plastic. Then there are the stores that have Tap and it only works sometimes on their terminals - today, but not the next, then again the next. What is wrong with their terminals. Next pet peeve, why do they not make the tap location obvious? Sometimes top center, next terminal bottom right, next one just above keypad. AND tap more often doesn’t work on the gas pumps than it ever works.
Lowe’s began accepting tap payments a few weeks ago. I’m hoping that will prompt Home Depot to do the same.
There are really safe ways of payment. NO doubt.
Unfortunately can’t think how to pay prepaid cellular services with autopay using Apple Pay. Anyone?
I still use physical money and I also use Apple Pay.
Using Apple Pay is the best way to pay for things, especially since that uses your Face ID prior to processing the payment. Don’t hand out your credit card and especially your debit card. 💳
It’s honestly defeats the purpose of carrying a wallet at this point, except whenever you need your drivers licence. Boomers are usually the only ones still carrying physical cards nowadays, However, oddly there is a limit you can spend on Tap to pay
Walmart doesn't accept digital wallets. Also, Samsung is android. You do have google pay and Samsung pay tho. Digital wallets are nice to have, but every business doesn't support them.
Yes they do, theirs. Kroger too. You can pay with your phone using their app.
@@mattbosley3531 You have to have the Walmart app. I don't want the Walmart app so I'll just pay with my card. Kroger doesn't require their app.
No, but the number has grown substantially over the last year. Only a few holdouts left.
@@spazzman90 That's true, but it makes carrying the actual card a must.
My Walmart doesn’t accept digital wallets. Heck, they don’t even accept tapping your card. And they just upgraded their readers. Go figure
I’ve been using this since 2014 how are people still using physical cards. So unpractical
Umm.. Guess i'm that Patrick, who's still living under an rock, by using cash 80% in local stores & transports.
“some people are still hesitant” yea 50 year olds or older.
It’s common sense for a contactless payment to be much safer than a direct chip/swipe payment
and guess what, your card itself is probably capable of contcactless payment without it being in a phone too. Most cards today has an nft integrated inside so you can just tap the card on the reader instead of insterting/swiping it
You can still have your info hacks if they are near you.
Now days you don’t even need your wallet
here is why I love the digital wallet better then physical.Say u lose the real plastic card.Now u have to call the bank and wait for the card to come to the house.With going digital that day u call they put the new card info on right int the digital wallet the day u call up and no waiting it simple just works and the real card will still come t u in the mail but u dont hate to worry about the wait.
Downside - Your purchases are tracked. Upside - Very safe compared to credit cards.
Samsung Pay ❤
I think the reason why Samsung Pay was mentioned was due to their older phones having MST ability.
If a store or restaurant didn't have NFC, you could still use Samsung Pay via MST instead, and the payment went through.
I'll stay for most things in cash, but using my phone to pay for things is much easier. Leave the physical cards locked up in my safe.
Why mention Samsung phones as though they're not included with Android?
Not all android phones have the ability to use contactless payment , not every device has NFC built-in so that leaves many android devices out.
Samsung Pay once had a different feature called Magnetic Secure Transmission (MST) which simulates a magnetic stripe.
Safety is consumers number one concern.
Apple Pay Google Pay and Samsung Pay is used a lot around the world 🌎🌍🌎🌍🌎 especially the UK US and Europe
I started using Apple Pay when it came out and I was traveling for work. It is so much safer than fumbling around trying to get your wallet out, hoping nothing important falls out or someone doesn’t try to steal it, while on the go. Inevitably you always end up at travel areas and other places you need a drink or food late at night, and it was so much safer IMO. Now I use the Apple Watch which is even safer for me than having the phone in my hand. I still am surprised at how few people use these technologies when they significantly improve your physical and financial safety.
Technology has proven time and time again that not everything new is improved. People still mad that Apple removed the headphone jack and now have trust issues since it forced them to spend money on air pods.
❤️❤️❤️❤️❤️❤️❤️
I have Apple Pay but haven’t use it. Yeah, it’s safer from cyber card theft. I used plastic card. I have cash as backup. Where there are places that don’t take cards.
In China, everyone uses their phone for payment.
Still use cash!
In 2023 if ur asking “How do they do that?” You are apart of the problem. And Home Depot, Lets Go Already! You’re a weirdo if you don’t have tap to pay.
Last time I went, which was earlier this year...they didn't have this and I had to dig out my card which I surprisingly had. It was annoying.
Most Americans not know that you can pay with your mobile phone or smart watch on the credit card machines in most businesses of USA.
Way back when, I used to think credit cards were state-of-the-art.
🤔👍
Meanwhile Walmart and Home Depot are like WDGAF if you get scammed. Lmao there’s even videos of people putting card skimmer facades on Walmart credit card machines. It’s a fucking joke.
Why won't Walmart and other retailers let us use ApplePay?
New services like Paypal? Welcome back to the early 00s people
CASH will always be KING 🤴
Phone pay is so convenient it keeps the economy afloat
I'm curious, how secure is a digital wallet compared to a card's chip?
Depending on how secure the protocol itself is, it could provide an advantage over digital wallets due to requiring a physical connection with the card terminal's chip reader/authenticator and not being able to be stolen wirelessly. So, they're like physical 2FA security keys.
Perhaps we could be carrying two cards, one is our full card with all details, chip, magnetic strip, and NFC, and the other, a card with no NFC or magnetic strip, just the last four digits of the card number and the chip.
" what if your phone gets stolen?" The "simple" solution is digital wallets don't work without a phone password?? Have they not done stories about how hackers can bypass phone securities, whether fingerprint, pin, or facial recognition...it happens...not sure how exactly, but it happens...
Sidenote, 2 months ago I noticed some transactions on a credit card I barely use...those transactions were in New York which I haven't been to in over 5 yrs...
while investigating with my bank they said my card was physically swiped at some restaurant...not sure how that was even possible but they somehow managed to clone my card from 4000 miles away...if they can do that without having an actual physical card then they can easily do that digitally.
Exactly, I tend to lose phone more than my wallet because the phone is always in my hands and sometimes I put it down without knowing it. So if the risk of losing my phone is greater than so is the chance of someone breaking in.
“Digital wallets” (tap-to-pay) is no different than contactless payments with the plastic physical cards. If people don’t like digital wallets they can just use their physical card to tap-to-pay and it’ll be just as safe and more secure than swiping.
Incorrect... The credit card tap and pay is not encrypted like digital.
Not true. Tap-to-pay with a physical card and a digital wallet use the same underlying technology and encryption techniques. The difference between the physical card tap-to-pay and the digital wallet tap-to-pay is that the physical card will send the same card number while the digital wallet will send a different card number tied to your phone/smartwatch. Both tap-to-pay methods are encrypted though.@@yankeesusa1
@@yankeesusa1Incorrect indeed. Maybe in the US it's different (I doubt i but who knows when it comes to the US) in other places it is 100% encrypted and transactions can only be made through genuine POS machines. The card generates a unique cryptographic code for each transaction.
Apare fronall that in mos countries the bank is responsible for any illegal transaction made and wil refund any illegal transaction made.
The main problem with the use of "electronic wallet" is that you basically insert another middle man which results in higher commissions that you pay (indirectly as vendors just add this to the price of the goods and services).
A credit card is light, easy to use, does not need power or reception to work and is insured by law in most places, unlike phones.
As others have already pointed out, your assumption is 100% incorrect. Digital wallets use the tokenization process that adds an extra layer of security that even if the merchant gets hacked (as what happened to Target years ago), the bad guys still don't know your actual CC number. Tapping with your plastic card doesn't use tokenization and it therefore more vulnerable
To add to the other comments… tap is also more secure because it requires a PIN, password, or biometric identifier to be authenticated on your device before it’s used which a credit card tap does not.
Who cares!!!! You are not responsible for any fraudulent charges. With a plastic card or digital wallet.
It's way easier to revoke a stolen mobile wallet than it is to remember, cancel, and wait for replacement of the lost physical cards.
When the system breaks down and you don't have cash, what are you going to do?
What happens when you retire\ turn in your old smart phone/ or your phone is no longer supported ?
Any digital transmission can be intercepted…it just coming…
Cash is still best because it leaves no trace at all. And it helps you from OverSpending….
There are ways to migrate or recreate the wallet when you change phones. Even if lost of stolen, you can remotely revoke the cards in the old wallet when you reinstate them on your replacement device.
Mobile wallets only transmit when the phone and wallet app is fully unlocked, asking for a PIN, fingerprint, or face before generating a one-time use "card".
Cash is also easily lost or stolen without lockdown and replacement. Overspending on a card is an individual's issue of education and discipline.
Yes, a digital transmission can be intercepted but in these type of transactions the data transmitted is typically encrypted which makes it useless to a third party that intercepted it.
Most people around the world 🌍🌎🌍🌎🌍 who have an iPhone have photos dating back as far as the YEAR 2023 ONLY
Wow why don’t we use this instead sounds like common sense
Lame, in asian country we using QR pay. Faster than debit digital card on your smartphone
This video dose not metion that bebet and credit cards come with contactless payments I am never going to pay by putting my card on a machine in restaurants card skimmers are getting more popular.
Surprised we're still reporting on technology like this since it's a decade old.
The adapters aren't coming from the boomers or Gen X I assume. Never will IMO
But the millennials on down all have taken to tap to pay.
Android, Apple and Samsung phones? Didn't she just say android phones twice?
She probably was thinking Android (Google Pay) and Android (Samsung Pay) which have their own digital wallet ecosystem, which might not be as popular in the usa but it exists.
Tokenized security gets hacked all the time, especially in botcoin and other digital currency
Irrelevant since in this situation we’re dealing with one-time tokens.
use cash no way that can be hacked a license to spend with very little control over spending cash once its gone you can't go overdrawed
I keep forgetting how technologically America is actually backwards
Please don't ever come to America.
It's because we're too "business friendly", not mandating upgrades to their technology before it ends up as an agent to some hack.
It’s not safe, hackers can get in,or what if there is a blackout device’s won’t work
Not if your phone gets stolen
They’d have to steal your fingerprint and/or face and/or device password too, so. . .
It is still Very Safe Trust me I Use Google Wallet all the Time For Public Transportation and Retailers like Target and Costco and even Grocery Stores I Still Use it over my Actual Debit or Prepaid Card
Find the person who didn't watch the entire video 😂
You can get around it by setting up your iPhone to automatically wipe your phone. It’s a security feature if someone tries multiple times to break into a stolen phone.
I’ll help you out
Phone gets stolen: you need biometrics and password to use cards
Wallet gets stolen: your on the phone with your card companies trying to reverse thousands of dollars of fraudulent charges
Which would you pick?
Nope. It's just another tech ready for the scammer to get into.
You basically pay more when you use your phone wallet
no thanks I will pay with cash
Old people, keep up with the program. 2024 is days away let 1905 in the past.
I beg your pardon I'm 57 years old and I have everything loaded on my phone. TAP ☑ Millennials go water your plants
@@ATLIEN333 I water my plants thank you very much!
Also the second beast makes all men wear a mark on their right hands or on their foreheads. Without that mark they will not be able to buy or sell anything. That mark refers to the name or number of the first beast. That number is 666, according to Revelation 13:18.
🤦
With a VPN you are safe but not you can be easily tracked just saying