Are Digital Wallets safe? <p>Digital wallets are actually more secure than your physical cards. That&rsquo;s because mobile payments are heavily encrypted and tokenized, meaning that none of your actual card or account numbers are stored within the digital wallet. By using a digital token, you no longer need to share your personal account information when shopping. This reduces the threat of sensitive data being stored or compromised since only the digital account number is passed on to the merchant.</p> <p>When you add your personal information into a digital wallet, that data is then converted into a unique code via encryption that can only be accessed by authorized entities. Digital wallets go a step further by also adding in tokenization, which takes that sensitive encrypted data and replaces it with a non-sensitive digital equivalent known as a token. These unique tokens are randomly generated every time a user makes a payment and only the merchant&rsquo;s payment gateway can match this token to accept the payment.</p> <p>Ultimately, your information is useless and unreadable to fraudsters when encryption and tokenization are used together.</p> <p>Not only is your information more secure thanks to that technology, but also through user verification. This added layer of security is usually done by fingerprint, facial recognition or PIN.</p>