How to Keep Your Digital Wallet Safe

How to Keep Your Digital Wallet Safe: Tips for Securing Your Mobile Payments

Mobile payments are more popular than ever. Whether you're tapping your phone at checkout, sending money to a friend, or managing accounts on the go, digital wallets have made everyday transactions faster and easier.

But with that convenience comes a new set of risks. As more people rely on apps like Apple Pay®, Google Wallet™, and Samsung Pay®, scammers are looking for ways to take advantage—and a compromised digital wallet can lead to real financial damage.

The good news? Keeping your digital wallet safe isn’t difficult, especially when you know what to watch out for. Fort Worth City Credit Union is here to help you understand the risks and protect your mobile payments with smart, simple habits.

What Is a Digital Wallet?

A digital wallet (also called a mobile wallet or e-wallet) is an app on your phone or smartwatch that securely stores your credit and debit card info, allowing you to make purchases, send money, and manage finances without needing physical cards.

Popular digital wallets include:

  • Apple Pay®

  • Google Wallet™

  • Samsung Pay®

  • PayPal

  • Venmo

  • Cash App

They’re incredibly convenient, but like any technology, they come with security risks—especially if your phone is lost, stolen, or infected with malware.

Why Securing Your Digital Wallet Matters

Think of your digital wallet as a miniature bank branch in your pocket. If someone gains access, they could:

  • Make unauthorized purchases

  • Access stored card numbers or linked accounts

  • Use your banking app to transfer funds

  • Steal personal info or identity data

Unlike traditional wallets, which you know are missing right away, a compromised mobile wallet may not raise immediate red flags—giving scammers more time to do damage.

Top Tips to Keep Your Digital Wallet Safe

1. Lock Your Phone With a Strong Passcode

The first line of defense is your phone’s lock screen. Use a strong passcode (not 1234 or your birth year), and enable biometric authentication like fingerprint or Face ID where available. Never leave your phone unlocked in public places, even for a second.

Pro Tip: Set your phone to auto-lock after 30 seconds of inactivity.

2. Only Download Trusted Wallet Apps

Stick to well-known digital wallet apps from official app stores. Avoid third-party apps that claim to offer "exclusive features"—many of them are phishing tools designed to steal your data.

Apps like Apple Pay and Google Wallet use tokenization, which replaces your actual card number with a randomized string of characters. That’s much safer than entering card details manually into unverified apps.

3. Use Two-Factor Authentication (2FA) on All Linked Accounts

If your digital wallet links to a bank or credit union account—like your Fort Worth City Credit Union checking or debit card—make sure two-factor authentication is enabled. That means a scammer would need both your password and a second verification method (like a code sent to your phone) to get in.

Never share your 2FA codes—even if the person claims to be from Fort Worth City Credit Union.

4. Keep Your Phone’s Software Up to Date

Those annoying update notifications? They’re actually your best friend. Mobile operating system updates often include critical security patches that close known vulnerabilities. Always install updates promptly—especially for your OS and digital wallet apps.

5. Be Cautious With Public Wi-Fi

Never make purchases or log into your mobile wallet while connected to unsecured public Wi-Fi (like coffee shops or airports). Hackers often monitor public networks looking for data to intercept.

If you must access your digital wallet on public Wi-Fi, consider using a VPN (virtual private network) to encrypt your connection.

6. Turn On Purchase Notifications

Most digital wallet apps and banking apps (including Fort Worth City Credit Union’s digital banking) offer real-time alerts when purchases or transfers are made. These notifications can help you catch suspicious activity immediately—before further damage is done.

7. Remove Old Cards You No Longer Use

If you’ve changed cards, switched banks, or stopped using a specific credit account, remove it from your digital wallet. Having fewer cards stored reduces your risk if your device is compromised.

8. Don’t Share Your Phone or Wallet Access

This may sound obvious, but it happens more than you’d think: sharing phones with a friend or family member can expose your digital wallet to unintended use. Don’t store passwords or wallet access codes in your Notes app, screenshots, or text messages.

What to Do If Your Digital Wallet Is Compromised

If you suspect someone has accessed your mobile wallet or made unauthorized purchases:

  1. Lock or erase your phone remotely using "Find My iPhone" or "Find My Device."

  2. Contact your financial institution—Fort Worth City Credit Union can help freeze your card or account immediately.

  3. Review your transaction history for any suspicious charges.

  4. Change all passwords and security questions related to your wallet and financial apps.

  5. Report the fraud to your mobile wallet provider and to the FTC at reportfraud.ftc.gov.

Is Using a Digital Wallet Safe?

Yes—digital wallets are generally safer than carrying physical cards, thanks to encryption and tokenization. But like anything involving your finances, you need to use them wisely. A little caution goes a long way in protecting your money and personal data.

Fort Worth City Credit Union Is Here to Help

Whether you're using Apple Pay at the grocery store or sending a friend money with Zelle®, Fort Worth City Credit Union supports secure, contactless payment options. And our team is always here to help if you have questions or concerns about digital wallet safety.

Visit fwccu.org/avoid-fraud to learn more about protecting your digital life—or contact us directly if you need help reviewing your account activity.

Fort Worth City Credit Union