I am not always one of those people who dive head first into new tech! No really! I was one of those people who said that Video cameras on smartphones were going to be a dud! (Yeah … maybe stock advice from me is not the best idea) Paying for things from your phone was one of those things. I thought that it would never catch on. Then I started to use it.
Why is using your phone to pay for things safer?
While some people do not trust Apple or Google to have access to your credit card numbers you are probably the same person who hands the credit card to the server at a restaurant to pay for your meal. Let’s break it down why your smartphone is a safer way.
Banks already do a good job of protecting you from credit card fraud.
So before you think that I’m going to disparage banks for their security on credit cards think again. They do a great job of protecting you. However, there are some times when it is too late and the damage is done. The iPhone or Android device has an extra passcode in order to use the Apple pay or Google Pay feature.
You have to know your card is stolen to report it missing
IF you drop your card or it is stolen from you in a way that you did not notice it could be some time before you or the banks starts to notice odd transactions. By having your cards on your phone you always have access to those cards in a handheld vault.
While we may not notice that your card has been stolen, You always notice when your phone’s battery is less than 30%. Making it more likely that you are going to be aware of where it is at all times
You can remotely wipe your phone
One of the advantages to security on phones is the ability to remotely wipe them. This makes it so you can destroy the cards in your phone from across the planet if you need to, And it is much easier than calling your bank to have a card deactivated.
Takes up less space
There are a few of you who have a whole list of cards. Your wallet must be really thinking. Whereas the cards with Apple Pay take up no space at all.
Resistant to RFID Scraping
This is a method of using an RFID transmitter to get your credit card numbers. The worst part is that it can happen and you never know it. While the banks are always working on ways to prevent this from happening there will always be someone who has found a way around it.
Unlike real cards, your phone only transmits when you are using the card. This gives your bank account an extra layer of protection versus being scraped.
Drawbacks of using Apple Pay
While I am a fan of this tech there are also some drawbacks. They are not big ones but they are important enough that every smartphone user should consider before leaving their credit card at home.
No battery no money
I did have an issue once where I needed to pay for something and my phone battery was flat. So it kind of defeats the purpose of using the phone if you carry your cards around anyway.