Virtual Wallet for iPad by PNC on the App Store Open iTunes to buy and download apps. Description Now get Virtual Wallet on your iPad. Virtual Wallet by PNC is a free App for all PNC Virtual Wallet customers. Our iPad app is optimized for the iPad experience, with larger graphics and more functionality. FEATURES QUICK VIEW – At-a-glance view of Money Bar, the upcoming week, what you spent last week and your last five transactions CALENDAR - View your scheduled payments and transfers, transaction history, paydays, reserve items, and Danger Days in Month and Day view. ACCOUNT DETAIL – View scheduled payments, reserve and wish list items. Slide the Money Bar to transfer funds between your Spend and Reserve accounts. Use Transfer Funds to move funds between the Spend, Reserve, and Growth accounts. ACCOUNT ACTIVITY - View transaction history in your Spend, Reserve and Growth accounts as well as a linked Credit Card. MOBILE DEPOSIT- Use your camera equipped iPad to deposit checks. PAY BILLS - Make one-time and recurring bill payments to billers you have already set up online using Virtual Wallet.

SOCIAL INTEGRATION – View the latest Facebook posts, Tweets and YouTube videos from the Virtual Wallet team LOCATE PNC - Locate the nearest PNC Bank Branch or ATM using built-in Location Services or search by zip code and street address. SECURITY - With PNC’s Security Assurance, you can be confident that your personal and financial information will be protected while using the Virtual Wallet App. Regular PNC Online Banking customers without a Virtual Wallet account should use PNC Mobile Banking, also available in the App Store. To access non-Virtual Wallet accounts, customers will need the PNC Mobile Banking App. Both Apps may run on the same iPad. Follow us on Twitter @PNCVWallet for the latest Virtual Wallet updates. Tweet us @PNCVirtualWallet_Help for help with your Virtual Wallet service needs. For mobile banking support, call 1-800-762-2035 For general support, call 1-800-PNC-BANK (762-2265) PNC does not charge a fee for mobile banking. However, third party message and data rates may apply. A supported mobile device is needed to use the Mobile Banking App.

Use of the Mobile Deposit feature requires a supported camera-equipped device. An eligible PNC Bank account and PNC Bank Online Banking are required. Certain other restrictions apply. See the PNC Online Banking Service Agreement. Apple Pay - Apple Apple Shopping Bag Make secure purchases in stores, in apps, and now on the web. Apple Pay is simple to use and works with the devices you use every day. Easily pay with your debit cards and credit cards with just a touch. And because your card details are never shared by Apple when you use Apple Pay, making payments with your iPhone, Apple Watch, iPad, and Mac is the safer, more private way to pay. See where you can use Apple Pay An easier way to pay in stores. Unlike paying with a physical card, using Apple Pay in stores happens in seconds with your iPhone and Apple Watch. Just hold your iPhone near the reader with your finger on Touch ID or double-click the side button on your Apple Watch, then hold it near the reader. See how to pay with your iPhone An easier way to pay within apps. Make easy and secure purchases in all kinds of apps, including apps on Apple Watch, using Apple Pay. Checking out is as simple as placing your finger on Touch ID.

You can also donate to your favorite nonprofits with a single touch. New And now an easier way to pay on the web. Now the convenience of using Apple Pay in stores and within apps is available on the web in Safari. Whether you’re shopping or donating on your iPhone, iPad, or Mac, use Apple Pay without having to create an account or log in. Touch ID is also available on the new MacBook Pro, so paying happens with just a touch and is quicker, easier, and more secure than ever before. Check out with Apple Pay on the new MacBook Pro. When shopping on a new MacBook Pro featuring the Touch Bar, you can complete your purchase by simply placing your finger on Touch ID. Privacy and security. With each and every payment. The safer way to pay. When you make a purchase, Apple Pay uses a device-specific number and unique transaction code. So your card number is never stored on your device or our servers, and when you pay, your card numbers are never shared by Apple with merchants. Keep your purchases private. Apple Pay doesn’t keep transaction information that can be tied back to you. Your most recent purchases are kept in Wallet for your convenience, but that’s as far as it goes. Add your cards without losing any of your benefits.

Apple Pay works with most major credit and debit cards from nearly all U.S. banks . Just add your participating cards to Wallet and you’ll continue to get all the rewards, perks, and security of your cards. Learn how to set up Apple Pay See how to add a card Use your favorite store credit cards. Now you can use your Kohl’s Charge card to pay with Apple Pay, as well as credit cards from stores like BJ’s, Ulta, and Meijer. It’s easy to reap the rewards. Add a Walgreens Balance Rewards card, My Coke Rewards card, and Kohl’s Yes2You Rewards card to your Wallet app to receive and redeem rewards automatically when you pay with Apple Pay. And soon you’ll be able to use even more rewards cards, like MyPanera. Get your business ready for Apple Pay. Accepting Apple Pay is easy. Apple Pay is easy to set up and gives your customers a simple and secure way to pay and donate with the devices they use every day. If you already accept credit and debit cards, simply contact your payment provider to start accepting Apple Pay. Visit About Apple Pay for merchants to get more information, or contact merchant support . Let your customers know you accept Apple Pay.

It’s easy to let your customers know you accept Apple Pay. Download the Apple Pay mark to use within email, on your terminal screen, and on your website. Order Apple Pay decals to put on your storefront window and register. Capital One Wallet on the App Store Capital One® Wallet makes a great companion to the Capital One Mobile app. Stay on top of your spending with Capital One Wallet. Track your activity with real-time purchase notifications, keep organized by capturing your receipts, temporarily lock your card if it’s lost or misplaced, digitize your gift cards, and more. TRACK YOUR SPENDING - Easily set up Apple Pay and authorize payment devices for your Capital One debit and credit cards, including Quicksilver® and Venture®. - Know the moment your card is used with instant purchase notifications. - View your card balance, recent transactions, and available credit – all at a glance. SHOP SECURELY - Second Look® may even notify you of unusual activity, such as a duplicate charge or an unexpected increase in a monthly bill. If needed, dispute the charge right in the app. - Lock your card if it has been misplaced, and easily turn it back on if it’s found.

STAY ORGANIZED - Snap photos of your receipts and connect them with charges listed on your statement. - Digitize your gift cards and keep them all in one place. Receive notifications when you’re near the retailer and pay through the app. - Redeem your rewards for past purchases or by giving yourself a statement credit. Connect your account for free and begin managing your credit, debit, and gift card usage. Sign in easily using Touch ID® or SureSwipe®. NOTES - To pay and manage your Capital One credit cards, 360, bank, home, and auto loan accounts in one place, download Capital One Mobile. - Capital One Wallet requires iOS 8 or above. - Capital One Wallet and Apple Pay are not currently available to customers of our partner cards. Capital One Bank and Capital One 360 debit card customers can use Capital One Wallet to receive real-time notifications and view account balances and transactions. Second Look is not available for all Capital One cardholders or partner cards. - If you enable gift card reminders, continued use of GPS running in the background may dramatically decrease your battery life. We’ve optimized to keep battery use efficient, but if you notice this issue, you can turn off gift card reminders at any time.

- Apple, the Apple logo, and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. Apple Pay and Touch ID are trademarks of Apple Inc. What's New in Version 3.1.0 • Bug fixes for Touch ID, user experience, and crashes Keep letting us know how we can do better at wallet@capitalone.com! iPhone Screenshots by Marshin E! This app is wonderful ! To simply put it. This app saved me from being ripped off by a hacker. The real time charge response system alerted me the moment someone made a charge on my credit card. Shortly after I was able to lock the card down before they could get another penny. I was even able to locate where the perpetrator was making the charge and the authorities were notified. That made me feel like I had the ultimate control!! Love it!! Big capitalism in Security 🚨 by Ollie8362 Best app out there for 🚦🔴🚯🚷🚯stopping thieves!💳👋🏼🚫👈🏼 Wells Fargo, Chase and Bank of America need to find out what's taking them so long to do this?? Now you will never need to call in for a lost debit card or credit card!

All they need to do now is tweek this app a little like give out a reward if someone finds your lost card and mails back to the person that lost it!! Once recovered you get paid! Nice App by Hurricane453 I really like many of the features this app has. I get instant updates on my spending and can check my balance anytime. It also lets me go in and check individual purchases which is great when a store has problem with running the card and might run it two or three times. I can see right away what my charges are abc if they charged me more than once. Love that feature. Customers Also Bought Apple pushes digital wallet with Apple Pay Apple pushes digital wallet with Apple Pay MAE ANDERSON Share View photos FILE - In this Tuesday, Sept. 9, 2014, file photo, Apple CEO Tim Cook introduces the new Apple Pay product in Cupertino, Calif. Some experts believe Apple Pay, with its presence on millions of iPhones and its advanced security features, could be the service that leads to widespread adoption of the so-called mobile wallet.

(AP Photo/Marcio Jose Sanchez, File) More NEW YORK (AP) — Apple is betting that people want to pay with a tap of the phone rather than a swipe of the card. The technology company on Tuesday introduced a new digital wallet service called Apple Pay that is integrated with its Passbook credential-storage app and its fingerprint ID security system. The announcement came as Apple introduced several new products including a new, larger iPhone 6 and a watch. Apple Pay is designed to let iPhone 6 owners use their smartphones to pay for purchases at brick-and-mortar stores as well as online via apps. The company says it's easier and more secure than using a credit or debit card. And it puts Apple in direct competition with services like PayPal and Google Wallet. So-called mobile proximity payments are expected to grow exponentially over the next few years. Citi Investment Research analyst Mark May said they could grow from $1 billion in 2013 to $58.4 billion by 2017. Still, consumers will have to weigh the convenience of not pulling out a card with the possible danger of storing important financial information on their phones, particularly as retailers like Target and Home Depot report data breaches, and hackers crack celebrities' iCloud accounts.

In stores, the system uses a technology called near-field communication, which allows mobile phones to communicate with other devices at close range. Many Android phones already have a near-field communication antenna, but iPhones have not until now. Users will pay by holding a phone close to a contactless reader with their finger on the touch ID fingerprint system. It's also set to work with the Apple Watch when that debuts in 2015. "Apple Pay will forever change the way we pay for things," said Apple CEO Tim Cook. Apple addressed security concerns Tuesday, saying Apple Pay is even safer than using a plastic card. Eddy Cue, Apple's senior vice president of Internet software and services, said credit card information will be stored on the phone via a secure chip and payments will use a one-time security code. The Find My iPhone service can erase the data if the phone gets lost or stolen — canceling a card will not be necessary. The service will be able to store Visa, MasterCard and American Express credit card information. "A cashier doesn't see your name, credit card number or security code," when you pay with Apple Pay, Cue said. He also said Apple won't track people's financial data.

"Apple doesn't know what you bought, where you bought it or how much you paid," he said. "That transaction is between you, your merchant and your bank." Contactless payment isn't new: Retailers like Starbucks and McDonald's already have their own contactless payment system in stores, and Apple Pay is similar to Google Inc.'s Google Wallet, which is available on Android smartphones and iPhones. But Apple Pay adds some security features and makes a digital wallet option more accessible for iPhone users. About 15 percent of smartphones are iPhones, according to research firm IDC. The service will be available beginning in October. Retailers will need to invest in updating their cash registers and point-of-sale units. Apple said department stores like Macy's and Bloomingdales, drugstores including Walgreen's and Duane Reade, and other stores including McDonald's, Staples, Subway and Whole Foods are participating in Apple Pay. But some of the largest retailers are not participating. Wal-Mart said it has no plans to participate. Amazon.com did not respond to a request for comment. And Target said it is currently participating only via its app.

"We know mobile is becoming the front door to Target, and we're focused on creating the best possible mobile experiences for our guests," Senior Vice President Jason Goldberger said in a statement. "We're thrilled to support Apple Pay to streamline how our guests pay in the Target app - this absolutely makes purchasing from Target's mobile app easier than ever." Gartner analyst Avivah Litah said the payment system will only succeed if major retailers get behind it. Apple's security features are a plus for merchants, but it's not clear if that will be enough. "It's 50-50 if merchants will get on board," she said. "The security aspects are attractive, but it's not clear if the security features alone are going to be enough of a selling point." IDC analyst James Wester said the move is in some ways Apple playing catch up to Google Wallet, but that the system uses Apple's fingerprint technology is a plus. "It's not that different than what other mobile wallets have done," he said. "The important part is that it's Apple.

We've been waiting for them to get into this." Citi analyst May said eBay Inc.'s PayPal is the closest competitor to Apple Pay, but PayPal shouldn't be overly concerned since near-field communication and digital wallet payments are less than 1 percent of its business. In addition, consumer adoption of Apple Pay remains uncertain. "That said, Apple has raised the bar for the digital wallet category, not only for offline point-of-sale but potentially also for m-commerce, which is more directly competitive with PayPal today," he said. For its part, PayPal's chief product officer, Hill Ferguson, emphasized PayPal's relationships with merchants and customer service, and the fact that it can work across devices. "Businesses and consumers don't want to be restricted to a particular device or hardware," he said. Reblog Digital Wallet | Robins Financial Credit Union Visa® Checkout Apple Pay With Apple Pay® you can easily make purchases at participating merchants with virtual cards on your iPhone 6® and iPhone 6 Plus®. While Apple Pay offers an exciting way to make purchases on the go, you still get all the rewards, benefits, and protections your Robins Financial Visa card provides.

Pay with a single touch – Use Apple Pay and your Robins Financial debit or credit card to pay the easy, secure and private way. Use your Robins Financial card at thousands of stores and participating apps with Apple Pay. See a complete list of Apple Pay merchants at apple.com/apple-pay/where-to-use-apple-pay . A secure way to pay – rest easy. Apple Pay transactions are authorized with TouchID™ thumbprint security or your passcode and transactions never use your card number. A safe way to shop – When you use Apple Pay, your Robins Financial card number is not stored on your phone or given to the merchant. A unique digital code is created specifically for that device. Your payment information is stored in your Passbook® app. You still enjoy all the benefits of your Robins Financial debit and credit card, including Visa’s Zero Liability policy that protects you from unauthorized charges. It’s a snap to get started. Make sure your iPhone 6®, iPhone 6 Plus®, iPad Air 2®, or iPad Mini 3® has the latest version of IOS 8. Add your Robins Financial card to Apple Pay in Passbook by taking a picture of your card or manually type in your card information…it’s that easy!

*The first card you add will automatically become your default payment card. You can go to Passbook anytime to pay with a different card and ad or remove any of your cards as needed. Pay securely with a single touch at thousands of store and participating apps. Learn more about Apple Pay here . *Apple®, iPhone®, and Passbook® are trademarks of Apple, Inc., registered in the U.S. and other countries. Apple Pay™, Apple Watch™ and Touch ID are trademarks of Apple, Inc. Android Pay As an Android user, there’s a lot to love about Android Pay™. Like how it lets you use your favorite Robins Financial debit or credit card at over a million locations in the U.S. To see a full list of Android Pay places to pay, visit android.com/pay . Making payments is safe when you use Android Pay. Your card number isn’t stored on your phone or given to the merchant with your payment. Instead, Android Pay uses a virtual account number to represent your account information thus providing an extra layer of security. Getting started is easy: Download the Android Pay app Add your Robins Financial Visa® card – it’s as simple as snapping a picture of your card You’re done! It’s that simple.

When you’re ready to pay, unlock your phone as usual and hold it over the merchant’s contact-less payment terminal. No need to open an app! Have some additional questions? Learn more about Android Pay . * Android, Android Pay, and the Android Logo are trademarks of Google Inc. The Android Robot is reproduced or modified from work crated and shared by Google and used according to terms described in the Creative Commons 3.0 Attribution License. Message and data rates may apply. Terms and conditions are available. Samsung Pay Samsung Pay makes paying with your phone fast, easy and convenient. Plus, it works almost anywhere you can swipe or tap your card. To learn more about Samsung Pay visit samsung.com/pay . Samsung Pay offers their best security, built in. Transactions are authorized with your fingerprint and use a digital identifier instead of your card number. And even if your phone is compromised, Samsung KNOX technology encrypts your card information with a separate, secure data vault.

Simple to set up, simple to pay: Make sure your compatible Samsung device is updated with Samsung Pay Take a picture of your Robins Financial debit or credit card with your device’s camera Secure it with your fingerprint and backup PIN and you’ll be ready to go Eligible devices include the Samsung Galaxy S6®, Samsung Galaxy S6 edge®, Samsung Galaxy S6 edge+®, and Samsung Galaxy Note® 5. *Samsung®, Samsung Pay®, Samsung Galaxy S6®, Samsung Galaxy S6 edge®, Samsung Galaxy S6 edge+®, and Samsung Galaxy Note® 5 are registered trademarks of Samsung Electronics Co., td. Only compatible with select cards, carriers, and Samsung devices; see the Samsung Pay Support page for compatibility information. Message and data rates may apply. Terms and conditions are available. Visa Checkout Pay online the easier way with Visa® Checkout and your Robins Financial Visa® card. Say hello to a simple, speedy, and safe new way to pay for your online purchases. Skip typing in your card and shipping details every time; all you need is your Visa® Checkout login to pay! Enroll with your Robins Financial Visa® card. Then use it to pay for online purchases wherever you see the Visa® Checkout logo.

Guard your personal information with multiple layers of security. Enroll your Robins Financial Visa® card once, then simply: Look for the Visa® Checkout button: Enter your login and password. Confirm your purchase. To enroll, click the button below and complete the form. Enroll in Visa® Checkout Enterprise Bank :: Digital Wallets Enter a City/State or ZIP Code More Ways to Pay Use your Enterprise Bank Debit Card for in-store or in-app purchases with Apple Pay®, Android Pay® and Samsung Pay. Added Convenience With digital wallets, you can breeze through the in-store or online checkout process. Your payment and shipping information is conveniently stored in your wallet and can be used at any merchant with enabled terminals and within participating mobile apps. Increased Security Your digital wallet helps protect against fraud by generating unique virtual card numbers for every Debit Card transaction you make. Your actual Debit Card number and identity aren’t shared with merchants or transmitted during the checkout process. To assist our customers, Enterprise Bank has prepared answers to some Frequently Asked Questions regarding Digital Wallets. Apple Pay is available on your compatible Apple® device and is accepted at hundreds of thousands of retail partners, with new stores being added constantly! Android Pay is a simple way to pay with your compatible Android devices.

Samsung Pay is the new way to pay with your compatible Samsung Galaxy device. Apple, Apple Watch, the Apple logo, and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. Android and the Android Logo are trademarks of Google Inc. The Android Robot is reproduced or modified from work created and shared by Google and used according to terms described in the Creative Commons 3.0 Attribution License. Samsung and Samsung Galaxy are registered trademarks of Samsung Electronics Co., Ltd. To speak with one of our trusted advisors call 978-459-9000, toll-free 877-671-2265, or Contact Us Virtual Wallet Review | Apple Pay, Google Wallet, Softcard and LoopPay - Consumer Reports News 3.5 3.0 All mobile wallets don't work on all smart phones. Apple Pay, Google Wallet, and Softcard require phones with near-field communications capability, which enables the wallet to transmit transaction data to an NFC-equipped cash register that can receive those signals. Google Wallet works on hundreds of Android phone models, more than Softcard and Loop. Apple Pay works on exactly two phones, the iPhone 6 and iPhone 6 Plus.

But while the GW app can be downloaded to iPhones, the tap-and-pay feature, which is what mobile walletry is all about, doesn't work on iPhones 4, 4S, 5, and 5S because they're not NFC-capable. Apple plans to expand Apple Pay usability to the iPhone 5, 5c, and 5s. But to make that happen, you'll have to buy the Apple Watch when it becomes available in 2015, because that device holds the encrypted SIM card and NFC that the 5 series phones lack. The Watch will also, no doubt, come with a hefty price tag. Softcard also works on Android phones and has a work-around for non-NFC iPhones: A special case with an NFC antenna embedded in it. But Softcard also requires a free "secure element" SIM card, and when we went to set up our phone, we got a message telling us we had to tramp over to a Verizon store to get the enhanced card installed, a time-consuming process. Loop has it's own setup requirements. You have to buy a fob, which plugs into your phone to make it work as a wallet.

You can also use the fob without the phone to make payments at the checkout, but either way, it's something else you have to carry on your person to make payments on the go. But Loop also offers a phone case, which replaces the fob when you are paying at the cash register, and the company is working with phone manufacturers to embed it's unique technology (see below) in phones. While LoopPay and GW work with any cellular carrier, including prepaid and no-contract, Apple Pay only works with the five major national carriers, Consumer Cellular, and Credo Mobile, but no other no-contract or prepaid carriers. Softcard only works on its owners' AT&T, T-Mobile, and Verizon Wireless networks. Softcard is also limited by the number of participating cards that can be loaded onto it—only those from American Express, Chase, and Wells Fargo. The other two digital wallets can load almost any credit, debit, or prepaid cards. Apple Pay works with only some cards from six major issuers representing about 83 percent of the market, but 500 more have signed on for participation in 2015, Apple says. Where can you use it?

Performance attribute 4.4 1.4 A mobile wallet isn't much use if the store in which you're shopping doesn't accept it as a form of payment. That's why we've given this performance attribute added weight in our scoring—40 percent—and that's a big problem for Apple Pay, Google Wallet, and Softcard. The trouble traces back to the NFC technology necessary to make these three work. Only about 208,000 U.S. merchant locations have NFC, which is a drop in the bucket compared to the 12 to 15 million where consumers can use their old-fashioned plastic payment cards. MasterCard says that it believes half of those 12 to 15 million terminals will be upgraded to handle next generation EMV encrypted chip payment cards by the end of 2015. Most of those so-called "world terminals" will have a slot to accept and read EMV cards and NFC capability. "It's up to the merchant to turn on the NFC capabilities, but we believe most will enable both EMV and NFC capabilities," says Carolyn Balfany, senior vice president of product delivery and EMV.

In October, however, CVS and Rite Aid turned off NFC capability in their 12,289 stores, because they're part of the Merchant Customer Exchange group of major retailers, who are building their own virtual wallet called CurrentC. Meanwhile, Avivah Litan, a financial fraud analyst at Gartner Research, says EMV adoption is more likely to take seven to 10 years. LoopPay seems to have overcome this problem right now in a critically advantageous way. It doesn't use NFC. Instead, it induces a magnetic pulse in the existing payment card readers at about 90 percent of U.S. locations that take plastic. When the Loop device is placed near a card reader's swipe groove, the pulse it generates mimicks the swipe of a card and transmits the data necessary to make payment. When we went shopping in the San Francisco Bay area, Loop was accepted at seven of eight merchants: CVS, Lucky Supermarket, McDonald's, 7-Eleven, Starbucks, a Shell station, and Target. By contrast, AP, GW, and Softcard were accepted at only one of the eight, McDonald's. Loop doesn't work at gas pumps, where insertion of a plastic card is necessary to initiate the payment process.

The NFC-based wallets didn't work at the pump either. But when we went inside to try to pay the cashier at the gas station, Loop did work on the card reader there, while AP, GW, and Softcard didn't, because there was no NFC receiver. Convenience and extras 4.1 3.0 All of the mobile wallets did well executing refunds. Essentially, they work the same way as a purchase–except in reverse; when you wave your phone or fob near the card reader, the system electronically credits your account with a refund. All the wallets let you load your store loyalty cards onto them as well, but only Google Wallet and Softcard offer discounts and deals. Apple says your AP transactions are private between you, the card issuer, and the merchant, so they can't know what marketing deals to offer you. Are virtual wallets easier to use than a plastic credit card? Yes and no. Yes, if you're standing on the checkout line and already have your smart phone out killing time, by checking e-mails, conducting mobile banking business, or catching up on the news, because it’s no trouble to open the mobile wallet app, punch in a PIN, and hold the phone over the card reader to pay.

But it's not more convenient when the phone is in your pocket and you have to fish it out, unlock the phone, navigate to the wallet app, and punch in a PIN to open the wallet. So the "4" scores on GW and Softcard are actually an average between easier and slightly more involved than swiping with plastic. But Apple Pay's Touch ID, which uses your fingerprint to authenticate to the phone that you're you, can be activated to work instead of a PIN. That feature made paying with AP more convenient than a credit card, in our estimation, giving Apple Pay the best score on this measure. To use Loop, you need a clunky fob, either plugged into the phone or carried on your keychain. The fob, while easy to use, is another thing to carry around—in addition to the phone and possibly your physical wallet containing backup cards. So Loop is at once moderately more involved than a credit card and only slightly so; we averaged the two. The charge case with built in fob is better (we didn't buy or test that option). Loop's CEO, Will Graylin, says phones embedded with the Loop technology will start hitting the market in the first half of 2015.

Another potential drawback: If your cell phone battery runs out, you can't use the phone to pay with Apple Pay or Google Wallet. Softcard tries to solve that problem with its own iPhone case, which has a built-in charger. But LoopPay has a better solution still: That clunky fob is powered independently of the phone, so it can still be used to make payments in button-pay mode, if the phone dies, as long as you instruct the wallet not to lock after a certain period of time (see "security" below). The low-power fob stays charged for about two months and can execute several hundred transactions between charges. Consumer protections and security 2.5 3.3 Because you load your existing credit, debit, or prepaid cards onto the wallet, whatever federal regulatory and voluntary industry protections apply to that plastic also cover their transactions as virtual cards. Since these protections vary by type of card (credit, debit, or prepaid), our scores here represent a blend of the protections, and you would be wise to prefer loading credit cards (which enjoy the best federal loss liability protections against unauthorized charges) into your wallet over debit and prepaid card.

Apple Pay stood out on consumer protections, because you can only load debit and credit cards onto it, not prepaid cards, which have the worst consumer protections. Bigger differences showed up in security. Softcard uses 10 of 13 security measures we examined—more than its rivals–giving it the best score. For example, though all of the mobile wallets use encrypted storage for sensitive data and require a PIN to unlock the wallet, Google and Loop let you turn off the wallet-lock timer. That makes it easier to pay at the check-out, but it also leaves the wallet open to unauthorized charges if you lose it or leave it unattended. On the other hand, Google and Softcard let you remotely disable the wallet if it's lost or stolen. Apple Pay offers improved security, particularly with its Touch ID fingerprint authentication, that can take the place of a PIN to unlock the phone and wallet. That's important, because users soon tire of having to constantly punch in a PIN and surrender to the temptation to disable the auto locks altogether. The convenience of Touch ID should boost security, even though it can be disabled for the phone and Apple Pay.

Apple Pay also provides great security by generating a unique code or "token" for each transaction, which can't be re-used, and by storing "device account numbers" on the phone's encrypted chip, in place of your actual payment card account numbers. Even if a hacker gets those numbers, they can't be used outside of Apple Pay. But Google Wallet and Softcard also use dynamic transaction tokens, and Google generates and stores "virtual card" substitutes for your real payment card numbers. So Apple Pay tokenization is not the innovation it's been tricked out to be. LoopPay says it will have tokenization in 2015. All four wallets also check to make sure that the card properly belongs to the owner of the phone and virtual wallet, to prevent crooks from adding your card to their wallet. Fees The Digital Wallet, and Why It's Taking so Long to Gain Acceptance | Inc.com CREDIT: Getty Images Advertisement Payments innovations are all the rage today. Look no further than the intense scrutiny of Apple's new payment system Apple Pay since its launch last Monday, and you can see how much hoopla there is.

But a raft of startups including Square , WePay , Stripe and dozens of others are also pushing the envelope on payments, while competing with more entrenched players like PayPal and Google, who are also eager to own the space. Osama Bedier may not be a household name, but he's been instrumental in creating some of the biggest payment innovations in recent years. A PayPal executive who oversaw platform development in that company's early days, Bedier jumped ship in 2011 to create the Google Wallet, a mobile payment solution that uses similar technology to that used in Apple Pay. Like Apple Pay, the Google Wallet can be used via phones containing so-called nearfield communication chip technology, or NFC, which allows for encrypted payments, using short bursts of radio waves. Over the years, Bedier has amassed half-a-dozen patents for digital payment technology including for real-time transaction authorization and virtual account management. He stopped by Inc.'s offices recently to discuss his latest innovation--which we'll be telling you more about later this week--and what's driving so much of the frenzy in payment technology and digital wallets today. Following is an edited transcript of our conversation. Q: Why is there so much attention and innovation going on now with online and digital payments?

A: Commerce is broken and the infrastructure that brings us commerce is broken. It was built in an era where we had cash registers, and it just kept getting updated without anyone stopping and saying, 'What should this look like in the future.' This is best described when you look at the technology that every consumer has in their pocket right now [a smartphone], literally a super computer in terms of the standards of 10 years ago. Q: You oversaw the creation of Google Wallet back in 2011. It did not work out as everyone hoped. What was your biggest takeaway from the project? A: There are 16 million terminals in the U.S., and you [can] not change them to accept Google Wallet overnight. We wanted to kick this off, but it is a lot more helpful when you have the mandate like the one for chip and PIN credit cards, slated for October 2015, already changing the merchant terminals. You have to ride a wave that is already causing change. Apple Pay learned that, and I think the timing of Apple Pay was related to the changes they saw coming. Q: How have things been different for Apple Pay?

A: When we launched Google Wallet, we had 20 merchants come along for that ride with us. Apple has gotten a broad segment of the payment ecosystem together. They have the top five banks, which issue the majority of cards in this country, as well as the top three credit card networks, Visa, Mastercard and American Express, [and many of the top merchants]. Q: What's the biggest stumbling block for digital wallets today? A: Consumers need to change their habits, and this is a very difficult thing to do. We did studies at PayPal and Google and found that getting consumers to change their habits takes at least three transactions in a specfic week, and for multiple weeks, so the habit becomes ingrained. So with all of these ideas of paying through a mobile device, it is not happening enough to retrain consumers on a new habit. And we know that consumers don’t like to go shopping if they have to prepare what payment method they plan to use. They get there and then pay, which is something that credit cards do very well. Consumers know when they get to a store it is going to work. With most of these new ideas, most of these digital wallets, it is not clear yet how they are going to work.

Google and Apple, however, have a head start with this, because consumers are already buying music and songs and games and movies and apps this way. NFC [-enabled wallets] seem like an answer to connect this [buying behavior] in physical stores. Q: So are we still 10 to 20 years away from widespread consumer use of a digital wallet? A: It seemed that way when I joined Google. We thought it was going to be a five- to 10-year process. For the first time I think we have a line of sight. We can see all the moves happening. Before it was a lot of hopes, and we had to kick off NFC. Now I think we are just three to five years away. Published on: Oct 28, 2014 Advertisement Use Bank of America Credit and Debit Cards with Apple Pay� Learn more about Apple Pay 1. Available on iPhone 6, Apple Watch, iPad Air 2 and iPad mini 3. See Apple site for complete list 2.

MasterCard, Visa and American Express will process transactions similar to how they process your physical card transactions today except most merchants won’t have access to your actual card number; they will receive the unique virtual card number associated with your credit or debit card. MasterCard must provide your actual card number to certain transit merchants (e.g., subway systems) in order to process real-time decisions. 3. The $0 Liability Guarantee covers fraudulent transactions made by others using your Bank of America consumer credit, debit and ATM cards. To be covered, report transactions made by others promptly, and don’t share personal or account information with anyone. Access to funds next business day in most cases, pending resolution of claim. Consult customer and account agreements for full details. 4. Cards issued to residents of Puerto Rico and U.S. Virgin Islands will not be eligible for Apple Pay. 5. About fees: Your usual wireless carrier fees may apply. Your standard fees associated with the use of your physical credit or debit card also apply to your virtual card. 6. For information about rates, fees, other costs and benefits associated with the use of a credit card, or to apply, click on the link above and refer to the disclosures accompanying an online credit application.

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Question: Apple Inc's 'digital wallet' virtual banking service is called Apple?
Answer: Pay