4 Reasons You Need a Digital Wallet

Ever check your bank account from your phone? Or need to make a quick purchase from your mobile browser? If you do, you know how annoying it is to use the mobile keyboard to type that strong password every time you want to login. Plus, the wallet you carry around with you every day might have sentimental or fashion value, but it’s not always the most secure or convenient way to pay for things when you’re shopping online on the go.

That’s why it’s essential to have an app like LastPass that can act as your digital wallet. Never again do you need to key in the passwords for your apps, or even pull a credit card out of your wallet for your online purchases. LastPass can do it all for you, keeping your data encrypted, backed up, and synced for the next time you need it.

What is a digital wallet?

A “digital wallet” is a blanket term for a range of technology that helps you store payment information, and make transactions digitally. A digital wallet allows users to do away with cash and physical credit cards in favor of electronic transactions and payment methods, usually relying on a person’s phone to transmit payment data securely.

LastPass isn’t the type of digital wallet that actually manages your money, credit, or loyalty points. But it is a digital wallet in that it facilitates online shopping and works with all e-commerce websites. Plus, LastPass securely stores your payment cards so your shopping experience is much faster across all of your devices. If you ever leave home without your wallet, you can always look up the cards you’ve stored encrypted in LastPass.

A few of the benefits of using LastPass as your digital wallet include:

  • Fast checkout and automated form filling wherever you shop online
  • Save billing addresses with your credit cards and fill all those details automatically
  • Sync your credit & debit cards everywhere, on any device, including mobile
  • Lock your payment details behind AES 256-bit local-only encryption, two-factor authentication, and strong security
  • No longer save your credit card on websites, just pay as you go

Plus with the LastPass extensions for Safari and Chrome on iOS, and the app fill features on Android, not to mention easy copy-paste shortcuts, LastPass eliminates the need to type your passwords!

1. Mobile banking, made easy

We all know how important it is to protect our banking accounts with strong passwords. But logging in to your mobile banking apps with those strong passwords gets tedious, fast. By storing those usernames and passwords in LastPass, you can quickly fill or copy-paste your credentials. You’ll get the correct password on the first try, every time, while enjoying the peace of mind of protecting your banking accounts with strong passwords.

2. Easily login to payment providers

Need to send off a payment via PayPal or Venmo? Checking your transactions on Square? No matter what digital payment provider you use, LastPass can store the username and password you use to access that account. Then when you need to login, LastPass can fill the password for you. Just a few taps and you can easily submit your payment.

3. No need to dig for your wallet

How often have you been ready to make a purchase, only to have to go rummaging around your house or digging in your purse or backpack to find your wallet? Then once you do find it, you have to carefully type in all your payment details, billing address, and shipping information. What a hassle! Creating a profile in your password manger or storing that information in a secure note ensures you always have it on hand when you’re ready to make a purchase. It also ensures you can checkout as a guest if you’d prefer not to store your credit card with every online vendor you use.

4. Protect your wallet with two-factor authentication

What’s better than a layer of strong security? Two layers of security! It may be difficult to secure your physical wallet, but storing your payment information in LastPass allows you to not only protect that information with a strong master password (and the built-in encryption), but to also add two-factor authentication. Two-factor authentication simply adds another login step, requiring an authentication code (or fingerprint swipe, or approval notification) before access is granted. When it comes to safeguarding the money you’ve worked hard to earn, the extra layers of security are a must.

A digital wallet is a must-have

Ready to have a digital wallet do the tedious work for you? Just head to the app store on your smartphone to download LastPass, and you can quickly add the passwords for your apps and your payment cards. Securely stored in LastPass, all your passwords and payment information will be just a few taps away the next time you need them!

Set Up Your Wallet

2 Comments

  • Perry says:

    Lastpass is excellent been using over 4 years on premium so I get all information on all my devices, the best app on my apple devices.

  • Marybeth Warder says:

    I am very much interested, but will need short, easy tutorials to handle your program. Can it handle things like cards at best known coffee shops – I mean is not accepted almost anywhere?
    Then I’m in! DAMN the torpedoes, full speed ahead! Just live the idea.