Digital wallets are set to be the biggest change in payment technology we have seen in over 20 years, barring a few changes, such as chip-and-pin technology.
Digital wallets can be used to pay for purchases via a Credit Union SA Visa Debit or Credit Card loaded into your smart phone, wherever mobile payment systems are offered.
What is a digital wallet?
Also known as an e-wallet, or mobile wallet, digital wallets can be used by members to pay for purchases via a debit or credit card loaded into their smart phone, wherever mobile payment systems are offered.
Members can also store loyalty card information, digital coupons and credentials, and in the future it’s likely they will be able to store all types of digitised information like drivers’ licences and passports, travel cards and building access passes.
Basically a digital wallet will eventually contain everything you currently have in your purse/ wallet (excluding cash) all stored in the one convenient location via an application on your smart phone.
Credit Union SA encourages members to update their digital wallets with their Credit Union SA credit and debit cards to ensure they continue to get the best rates.
How is the payment made?
Payment information from the mobile device is passed to the store’s payment terminal wirelessly through near field communications (NFC) as a contactless payment, the same as if you were presenting a payment card with a chip (like you may already do now when you tap your card to pay for something.)
Can Credit Union SA members have a mobile payment app and our Credit Union SA Mobile Banking App on the same smartphone?
Yes. You can have a combination of apps on your Smartphone.
Members can register their payment cards (debit / credit) in mobile payment apps and continue using our Credit Union SA Mobile Banking App.