Key takeawaysDigital wallets allow you to make payments without a physical debit or credit card.Apple Pay, Google Pay and ...

“Mobile wallets in particular use what’s called tokenization, which replaces your actual card details, your card number, with a unique token that is for each transaction,” Grant explained.

Digital wallets are applications that store payment information, enabling virtual transactions. Apps like Apple Pay, Venmo and PayPal are some examples of digital wallets. Because of encryption ...

“Mobile wallets in particular use what’s called tokenization, which replaces your actual card details, your card number, with a unique token that is for each transaction,” Grant explained.

A digital wallet allows you to make convenient financial transactions ... You can find mobile and online payment wallets alongside options ... multi-factor authentication and tokenization.

Over half of consumers use digital wallets, per Forbes. Consumer Investigator Rachel DePompa talks to MoneyTips about the convenience and safety concerns of paying with your phone.