The Old Days of Carrying Cash
As technology continues to advance, so does payment technology. Gone are the days when you needed to carry cash with you. The vast majority of businesses will accept credit or debit card payments. Even small business owners can easily sign up for merchant services that enable them to accept credit and debit card transactions.
If you’re tempted to be nostalgic about using cash, just remember that paying with a credit or debit card is much safer. If your wallet is lost or stolen, all you have to do is to report it to the credit card company or bank. They’ll shut off your card remotely so that no one can use it for a personal shopping spree.
Carter Bank & Trust is committed to providing our customers the most innovative technology to help make their lives easier and safer. We recently released “Tap and Go” technology on our debit cards, which allows customers to submit a payment with a debit or credit card through “tapping” the card on the reader.
Card purchases made with “Tap and Go” are meant for quick, small purchases to increase convenience and speed. Experts believe that the processing speed for contactless payment is about twice as fast as the previous technology.
And now, you can even make card purchases with your Carter Bank & Trust card using your mobile device! It’s a new form of contactless payment that allows your phone to function as a digital wallet.
Why You Should Use Digital Wallet
A digital wallet is an electronic version of your physical wallet. It stores your payment information in an online account. When you make a purchase, you can use your digital wallet within your phone to provide payment information to the store.
Payments made with digital wallets are really the most secure option for day-to-day purchases. This is because the added security built into your mobile device. When you start a transaction using your digital wallet, the phone authenticates that the user is you through password, fingerprint or facial recognition. This way, the only person able to use your digital wallet is you!
Digital wallet payment technology is the future. Many grocery stores and even gas stations are beginning to accept digital wallet transactions. Thankfully, we now have many ways to make payments everyday with your Carter Bank & Trust debit card: swipe, chip, tap and go and digital wallet. When you don’t have cash handy or want to try a new payment option, consider using one of these payment methods the next time you shop.