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Like many of us, Clark found himself avoiding physical encounters for an extended period during the COVID pandemic. So he wanted to increase the safety of conducting transactions in stores. Apps like Venmo and the Cash App are popular ways to pay friends when splitting a bill, but you also can use your digital wallet to do that.
If set up correctly, your digital wallet could free you up to leave most of the contents of your actual wallet at home. He also has added his travel rewards and retail loyalty cards to his digital wallet. Chick-Fil-A, Panera Bread Company Clark cites a recent example of a transaction he made with Panera Bread Company, where he used his Google Pay app to prepay for his food order before picking it up from their drive-thru window. Understandably, some people may have reservations about the safety of their personal financial information while using their phones to complete a credit card transaction.
As Google Pay explains in this video, it does not use your actual card information when you make an in-store transaction. Instead, it uses a unique encrypted number for each transaction. Advertisement The video also addresses what to do if you lose your phone: Safety Observations From Google Pay and American Express To help better understand the security measures available, I decided to set up one of my credit cards on the Google Pay service.
The process took no more than two minutes from beginning to end. For example, Bitcoin exchange Mt. Gotz recent shut down the ability of people to get Bitcoins. They said there was problem with the code that would let hackers create counterfeits Bitcoins. A movement of a fraction of a percent in traditional currency trading is a huge amount. The most successful non-governmental form of money is in Africa where people use cell phone minutes.
When you go to a store to buy something, you text the store owner minutes for a can of soda or whatever! So alternative world currencies are not unprecedented.
