Did you know that Digital Wallets offer many layers of security that significantly enhance your protection as a buyer? Read on to learn about the advanced security features that make Digital Wallets a safe alternative to traditional physical plastic cards.
- Tokenization: When you use a Digital Wallet, your actual card number is not transmitted during the transaction. Instead, a unique and randomly generated token is used. This tokenization process ensures that even if the transaction data is intercepted, it cannot be used for fraudulent purposes since the token is specific to that transaction and device.
- Biometric Authentication: Digital Wallets typically require biometric authentication, such as a fingerprint scan, facial recognition, or iris scan to authorize payments. This adds a robust layer of security, since it is very difficult for a fraudster to replicate biometric data.
- Encryption: Digital Wallets encrypt all transaction data, both during transmission and storage. This means that any data transferred during a payment process is scrambled and can only be decoded by authorized systems, significantly reducing the risk of data breaches.
These modern security features make digital wallets a safe alternative to traditional plastic cards, offering consumers peace of mind when making transactions. Set up your Digital Wallet today — visit cefcu.com/wallet to get more details.