Setting up a digital wallet gives you the ability to easily pay for your purchases without carrying a wallet. It’s safe, secure, and easily accessible through major apps like Apple Pay, Google Pay, and Samsung Pay.
While mobile payments are a newer way to bank, there are key benefits to setting up your mobile wallet that you don’t want to miss out on, especially if you’re a First New York Federal Credit Union member!
Some of these benefits include: fast payment; private, secure transactions because you’re not sharing all of your card information to the people you purchase from; and not having to carry your wallet around in case of theft or forgotten cards.
In this guide, we’ll cover everything you need to know about each type of digital wallet and how you can set it up as an Apple, Samsung, or Google Pay user. Let’s dive in!
You can click these links to skip to the set up instruction sections:
What’s a digital wallet?
Also known as an electronic wallet, a digital wallet is a financial transaction application that runs on mobile devices, i.e. a digital wallet app. You may have heard of it referred to as a couple of different things like:
- Digital wallet app;
- Digital card wallet;
- Google wallet;
- Electronic wallet;
- Samsung digital wallet;
- Apple digital wallet; and
- iPhone digital wallet.
Regardless of its name, a digital wallet app has the same function regardless of the name or company. The app securely stores your payment information and passwords, so you can conveniently pay for purchases without carrying your cards around. Plus, you can use your digital wallet app for multiple payments methods like in-store and online. Talk about an easy user experience!
How Does My Digital Wallet Work?
You have to manually setup your digital wallet on your device. This includes adding your credit, debit, store card, bank accounts, event tickets, or gift card’s information to your app. These apps can be downloaded and used from your phone, smart watch, and tablet.
In most cases, adding a card requires you to input your card number/information and verify your identity. Depending on your mobile app, it can take only minutes to securely setup and start paying for purchases!
How Does My Digital Wallet Process Payments?
A common question members ask is “how do digital wallets work?” There are a few different technologies digital wallets use to process payments. The technologies allow your device to communicate with another device to make a transaction.
You can think of it like a credit card and credit card reader. But, instead of swiping, your device is being scanned to create the transaction. Here’s a more in-depth explanation of the three primary technologies used:
- Near Field Communication, or NFC: This allows two devices to exchange information if they’re placed close to each other. Apple Pay and Google Pay use this technology. To use one of these digital wallets, the merchant must have compatible card readers at checkout.
- Magnetic Secure Transmission, or MST: This generates a magnetic signal, much like when you swipe the magnetic stripe on a credit card. The signal is transmitted to the payment terminal’s card reader. Samsung Pay uses both MST and NFC technology.
- QR codes: These are barcodes you can scan with your smartphone’s camera. In the PayPal app, for example, you can generate a QR code that lets you use your account to pay for an item in a store.
Now, that you know the basics of digital wallet, you may be wondering, “where is digital wallet on my phone?” and “how do I access my digital wallet?” In the next section, we’ll go into how you can setup your digital wallet with your First New York FCU Visa® Debit and Credit Card.
How Do I Setup My Digital Wallet With My First New York Visa® Debit and/or Credit Card?
In this setup portion, you can scroll down to what applications will make most sense for your mobile device. We’re going to cover the main digital wallet apps: Apple Pay, Samsung Pay, and Google Pay. If you don’t see your mobile wallet app and would like to set this up, please contact our Member Service Specialists at (518) 393-1326, press 2.
Apple Pay: For iPhone Users
You can use the following instructions and subsequent images to add your digital wallet to your iPhone or Apple Watch through Apple Pay.
Step 1: Open Apple Pay
Step 2: In the Wallet app, tap the “Add” button
Step 3: Tap “Debit” or “Credit Card,” then tap “Continue.”
Step 4: Follow the steps on the screen to add a new card. If prompted, choose your bank or card issuer from the list or find them using the search bar.
Step 5: Verify your information with your bank or card issuer. They might ask you to provide additional information or to download an app before approving your card for use with Apple Pay.
Step 6: If you have a paired Apple Watch, you have the option to also add the card to your watch.
Samsung Pay: For Samsung Phone Users
You can use the following instructions and subsequent images to add your digital wallet to your iPhone device through Samsung Pay.
Step 1: Navigate to and open Samsung Wallet on your phone. On newer Samsung devices, you may be able to swipe up from the home screen. Tap “Add.”
Step 2: Next, tap “Payment Cards”; it is the icon that looks like a credit card.
Step 3: Follow the instructions to register your card. You can use the camera feature on your phone or enter your First New York debit or credit card information manually. When you add a card, you must agree to the card’s terms and conditions.
Step 4: Choose your preferred verification method then verify the card.
Google Pay: For Android Phone Users
You can use the following instructions and subsequent images to add your digital wallet to your Android device through Google Pay:
- Step 1: Open the Google Pay app then at the top, tap the “Credit Card” button.
- Step 2: Tap “Add a payment card” and then select “+ New Debit or Credit Card.”
- Step 3: To capture your card information, use the camera. You can also enter your card info manually.
- Step 4: Review and accept the terms from your card’s issuer.
Pay Digitally: Contact Us to Get Started!
Welcome to the new way to pay for products and services, using the digital version of your First New York FCU Visa® Credit Cards and Debit Cards. Digital and electronic wallets are smart, functional, and more secure than traditional card payments.
So, why not make the switch today?
Our local Member Service Specialists can walk you through setup and help you learn all the features of digital wallet. Why not give it a try? Call our Member Service Specialists at (518) 393-1326, press 2 or visit our website to contact us today.