Loading...

Mobile wallets a growing trend

Mobile wallets a growing trend

By Joyce Lupiani. CREATED Mar 23, 2012

(KTNV) -- Are you tired of carrying a wallet?

You may not need to anymore. Pretty soon, all you will need is your smart phone.

Google Wallet was launched in the fall. Basically, they store your credit card information and when you are at a participating store, you just tap your smart phone and the payment is made.

However, some lawmakers are concerned about whether these transactions are truly secure. And just like there are questions that surround search engines and social media sites, there are worries about what information may be given to retailers and if there are ways to opt out of some things.

But, there may also be some advantages to an all-digital approach.

According to some experts, the information that you put on your mobile wallet can be encrypted in such a way that it would make more difficult for the thieves to use that information than if they had a person's credit card.

Very few consumers are using the technology right now but that will probably change.

Just make sure to read any fine print before you sign up.

Joyce Lupiani

Joyce Lupiani

Email Twitter
Joyce Lupiani is the managing editor for PositivelyLV.com and contributes to KTNV.com and NowTrending.com.