We’ve all been there….that moment when you realize you left your wallet in your other pants. Or the times you wish you didn’t have to carry your whole purse.

There’s definitely a convenience factor to digital payments using your smart phone, but did you know that it’s also a safer option in most cases?

Instead of using your actual credit card information, digital payment apps create a unique transaction code for each purchase that cannot be used again. That means the merchant – or anyone trying to steal your credit card information from that merchant or from you – never sees your real credit card number.

It all makes sense, but let’s be honest: you’re not the most tech-savvy person on the planet. What is someone like you supposed to do? We can help.

A digital wallet is exactly what it sounds like. It’s a digital way to store all your credit cards, debit cards, gift cards, reward cards, and just about anything with a bar code.

Just like a physical wallet, you’re able to choose one card as your default (put it on top), yet you can also easily flip through the rest of your cards to choose something different – like a gift card – to use instead.

This is especially nice for carrying cards you seldom use – such as a credit card issued by a specific store – or for keeping track of gift cards or reward cards that can bulk up your regular wallet.

Yes and no. You can pay with the cards in your digital wallet, but your digital wallet is really just a place to hold all your methods of payment.

To make a digital payment using the default credit or debit card in your digital wallet, simply tap your phone on the store’s card reader after providing authentication, such as holding your thumb over an iPhone home button or entering a PIN, to pay electronically. If you want to use a different card, you would need to open your digital wallet and scroll through the card options.

Your phone likely came with a digital wallet as one of the pre-loaded apps. For instance, iPhones come with Apple Wallet already loaded. Simply find it on your phone and open it to start loading credit cards, debit cards, gift cards, and more.

Lake Ridge Bank also provides an enhanced digital wallet option called CardValet for our customers to use exclusively with Lake Ridge Bank-issued cards. CardValet enables users to turn credit or debit cards “on” and “off” for extra protection, lets you set criteria for card usage, and makes it possible to view card balances and transaction history in real time. You can download the CardValet app from the AppStore or Google Play. Watch this video to learn more about Lake Ridge Bank’s CardValet option.

Still confused? We’re here to help you get started. Stop in to one of your Lake Ridge Bank locations for assistance or call the information line at (608) 223-3000 or (855) 256-7328.