The cellphone is easily one of the most popular mobile devices used by Filipinos and is quickly rising to the top, especially since it evolved into the smartphone. Statista, a well-known market research company, predicts that by 2025, there will be 90.4 million smartphone users in the Philippines. And for good reason. Aside from calling and texting, the smartphone allows you to use the Internet, go on social media, and even accomplish business-related tasks. Hence, we have seen the rise of e-wallet users.

Tips for New E-wallet Users

In recent years, the things you can do with the smartphone have significantly expanded in scope. The introduction of online banking and e-wallets, in particular, presents an exciting opportunity for users to go cashless and transact conveniently and securely. Despite their numerous features, however, a lot of Filipinos still hesitate to give e-wallets a try. Some are afraid of security risks while others are simply reluctant to try out something new.

Rest assured, however, that e-wallets have user-friendly designs and offer several features besides sending and receiving money. If you need further convincing, here are some tips to help new users—or those considering installing digital wallets—make the most of an e-wallet’s convenient features.

Explore the E-wallet Interface

Some people install e-wallets with a single purpose in mind. Perhaps they have a relative they send money to or a client prefers an e-wallet to send payment. However, a quick scroll through the e-wallet’s interface reveals that there are so many other things you can accomplish. You can pay bills, top-up load, and redeem coupons. Some apps also allow you to book rides, schedule flights, and even pay taxes to make your financial transactions easier—anytime, anywhere. 

Thus, after installing the e-wallet, take the time to explore its home page and check out its tabs and functions. Learn the icons so you know where you can cash in and add money to your digital wallet. By putting in the time to know the app, the more you can enjoy its features.

Take Advantage of Deals

One of the huge perks of using e-wallets is that they offer several awesome deals. You can earn points, redeem rewards, and use coupons to get discounts, among other things. Some e-wallets offer cashback, which can help you save money over the long run. Make sure to stay up-to-date with e-wallet deals and events by checking the app daily, turning on notifications, or getting an email subscription. In this manner, you can make the most of the app and get rewarded in the process.

Use QR Codes

QR codes are unique box-shaped codes that encrypt a user’s personal data. You can use it to send and receive money without directly sharing your e-wallet information. This is a highly useful tool because you no longer need to type in numbers and risk making errors. With a single upload or click of a camera, the e-wallet can instantly get the needed banking info and send the money to your chosen recipient. For example, freelancers may send a QR code to receive payments while keeping their banking information private. You can also take advantage of this feature for a quick and cashless transaction at the supermarket counter and be on your merry way within seconds.

Protect Your Phone and Passwords Always

When you install an e-wallet app, your mobile phone acts as your wallet. Thus, you need to keep it close and protect it to avoid other people from tampering with your money. As technology advances, data theft has become more rampant and losing your phone—which contains contact information, social media data, and now, e-wallets—is detrimental. This is especially true when you save the passwords on your phone for convenient access.

Fortunately, e-wallets have security measures in place to prevent thieves and other ill-intentioned individuals from reaching your money, such as passwords, security codes, and email verification. In such cases, report the theft immediately to your payment solutions provider. A company representative can guide you through the steps to help you protect your account.

Turn On Notifications

When you receive notifications every day, it can become annoying when you are not interested in particular topics. With e-wallets, however, notifications are important so you can track your transactions and quickly spot something amiss, like pinpointing a purchase you didn’t make. You also get informed about available promos, events, and deals that may be helpful to you and your family. Hence, keep the notifications on.

Keep Tabs on Your Account Balance

Unlike cash, e-wallet users may find it difficult to track digital money simply because you can’t hold it. Sometimes, you may go over your budget because you forgot to keep tabs on how much money is available in your e-wallet. This can make it difficult for you to keep tabs on your digital financial accounts and stay on top of your finances. One tip to help you accomplish this is to only cash in the amount you want to spend in your e-wallet and store the rest of the budget in your banking account. This way, you avoid overspending and can better allocate your resources.

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Using e-wallets can feel like a big change, but it’s not a bad thing. On the contrary, it offers several features and opportunities that help you save time, energy, and money. Think of it as learning a new language. While difficult at first, you become more adept as you continuously use it. Before long, e-wallets and cashless payments will feel like the norm, and your payment options have become wider.