How Does a Digital Wallet from Varsity Work?
In simple terms, a digital wallet is an electronic version of the physical wallet you carry. It stores your payment information in an online account. When you make a purchase, you can use your digital wallet from your mobile device to provide information instead of presenting the physical card each time.
Here’s how it works. If you decide to add your debit card number to a mobile device or digital wallet, our debit card provider, Visa, will issue a “token” or digital account number behind the scenes.
When you initiate transactions with a mobile device, your Visa “token” or digital account number will be used to process the transaction, just like a traditional debit card payment. Additionally, because the token doesn’t carry your debit card number, you are less likely to become a victim of fraudulent activity.
Start Using Varsity’s Digital Wallet Today
If you use a smartphone, a digital wallet is right for you. Whether you’re heading into your first semester of college, preparing to graduate, or entering the workforce or graduate school, completing transactions with the tap of your phone is secure and easy with Varsity. Download the Varsity Mobile App to start using your digital wallet.