The FNB Blog

Monday, November 22, 2021 / Categories: Electronic & Convenience Banking

Introducing FNB’s Digital Wallet: A New Way To Pay

First National Bank has recently added Digital Wallet capability for even more payment convenience when using services like Apple Pay and Google Pay. If you’re new to the concept of a digital wallet and using your mobile device to pay for goods and services, the good news is you’ve come to the right place. Keep reading and we’ll cover what it is, how it works, and how it can be useful for you. Let’s dig in!

What is Digital Wallet?

A Digital Wallet is a service that hosts your debit, credit, and other cards electronically so that you can make transactions without the need for your physical card. This service makes it so that you won’t need to rely on carrying around cash or your wallet with cards in it, you can simply carry your phone or other devices (like a smartwatch, for instance).

First National Bank’s Digital Wallet Service can be used with a digital payment service such as Apple Pay (on iOS) or Google Pay™ (on Android). Once you’ve installed the app of your choice, you can add your FNB Debit Card and use it wherever the payment service you chose is accepted. Since Apple Pay is accepted at over 85 percent of U.S. retailers, you should have no trouble finding locations that accept a digital payment service.

Taking advantage of this offer with First National Bank will allow you to utilize your account in more ways, as more businesses include digital payment options at the checkout counter.

Digital Wallet: The power of using services like Apple Pay and Google Pay to conduct transactions.

How does it work?

You might be worried about privacy concerns when it comes to handling your financial information, especially when it comes to data breaches and other security threats with electronic devices. Security and privacy are primary concerns we considered when we established Digital Wallet, so you should know your device will not store your card number. The Apple Pay and Google Pay™ services will not store your card number either.

Instead, you’ll be given a unique transaction number, which is then encrypted for access by your payment network (First National Bank in this case), or whoever you allow access to. Neither Apple Pay nor Google Pay™ will store or have access to the card numbers you input into your account, so you can rest assured that your privacy and security are maintained. This means you have all the usual access to your card, without allowing others easy access to your private information.

Once you have your account set up and your cards input, all you have to do is look for participating retailers that display a contactless payment symbol, and you’ll be able to use your newly acquired Digital Wallet for quick “tap and go” payment.

One last thing that is important to note: Make sure that you set your FNB Debit Card as the default card for Digital Wallet. Apple Pay and Google Pay™ both allow you to have multiple cards. If you choose to add several cards to Digital Wallet, make sure you know which card will be processing your transaction!

Why is it important?

Many customers may feel comfortable with their traditional physical wallets and cards, and may not see many reasons to take advantage of the Digital Wallet Service. But for any customer, in any situation, Digital Wallet can prove to be beneficial for managing their financial dealings. There are a few key areas where it offers clear advantages:

  • More secure than physical wallets: A Digital Wallet can be more secure for users than physical wallets, as it is much easier to lose an individual card or misplace a wallet than it is for you to lose your phone or other electronic devices. There are also more options for preventing fraud, as services like Apple and Google Pay™ allow card issuers to stipulate specific conditions, like if the cards included can be used over the phone, as a physical card, and in other scenarios.
  • Streamlines contactless and electronic transactions: As more retailers implement contactless guidelines, being able to pay without handling physical cash or cards with an employee is the desired goal. A Digital Wallet allows you to make purchases at checkout merely by being in the vicinity of the register and approving the transaction on your phone. Through payment service apps, you can also pay at online stores, and even send money among friends.

The Future of Payments

Digital Wallet usage has increased in recent years, and with pandemic conditions incentivizing retailers to adopt more digital and contactless practices, it’ll inevitably be used more and more commonly as time passes. First National Bank has made this service available to our customers so that they may take advantage of these innovations and make electronic transactions with their FNB accounts convenient and secure. 

If you’ve ever dreamed of being able to pay without the hassle of digging your card out of your wallet, Digital Wallet is just another way that First National Bank is making your dreams come true. 

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