Using Mobile Pay in 2020


Isn’t it crazy to see how retail spending habits have changed over the years? From cash to checks to credit cards and chip cards… payment solutions have really evolved. Now, mobile payment is changing the way that millions of consumers are checking out.  In 2019, over 50% of US adults conducted a transaction on a smartphone, according to PEW Charitable Trusts.

Before we jump into how much we love mobile payments, here’s a quick definition of “mobile payment”:

“Online and point-of-sale purchases, bill payments, and money transfers conducted via a web browser, app, or text message from a consumer’s smartphone (which for purposes of this analysis includes any internet-enabled phone). Funds for these transactions typically come from a credit card or debit card, bank account, or, less commonly, a prepaid or gift card linked to the phone or app or from money stored directly on the device.”

When someone is making a mobile payment, you’ll see them at the checkout pulling up their “Mobile Wallet,” then holding their smartphone close to the payment portal at checkout. Their phone will buzz a little bit to notify them that the payment has been transmitted, and then the cashier will proceed just as if they’ve made a debit or credit card payment. It’s incredibly easy and has many benefits.


Let’s face it, you probably already have your phone in your hand at the grocery store anyway, right?  Or at the coffee shop? Or almost anywhere else you go? Most of us do, so the use of Mobile Pay at checkout becomes more convenient than using the debit card in your wallet or digging your credit card out of your purse.


In 2018, CNBC reported that the trust level of mobile payments was low, though they’re believed to be the way of the future. They noted that mobile payment methods like digital wallets use authentication, monitoring and data encryption to secure your personal information, which is equal to or more secure than credit or debit cards.

For instance, you must first unlock your phone via fingerprint, password, or retina scan to gain access to your digital wallet. Then, you have to provide a second level of verification once you’re in your digital wallet. For me, my digital wallet does another facial recognition scan when I’m ready to make a purchase, confirming my identity for the second time.

Rewards, Membership, and Loyalty.

An added benefit of your digital wallet is that you can store rewards or membership “cards” in your wallet for easy access as well. Think about your Sam’s Club or Costco membership card, your Target Circle barcode, your Walgreens rewards card, or your Super America loyalty card. All of these can be stored in your wallet and accessed with a quick tap.

Multiple payment types.

Lastly, you can store multiple cards in your wallet at any given time. Have a work card and a personal card? No problem! It’s a quick switch between the two when you get to the cash register.

Set-Up Mobile Pay with your Deerwood Debit or Credit Card

Setting up mobile pay is quick and easy.

  1. Find your “Mobile Wallet” on your smartphone
  2. Click “Add”
  3. Click “Add Credit or Debit Card”
  4. Scan or type in your card information
  5. Follow the set-up prompts to confirm billing address and other relevant information to “store” the card.
  6. Start using it – this is the fun part!

Another form of mobile payment that has developed more recently is paying with your Apple Watch. We love this payment method maybe even more than the smartphone payment, because you don’t even have to carry anything other than the watch on your wrist! You just pull up your Mobile Wallet on your Apple Watch and hold your wrist close to the payment portal. The setup process is similar to the above steps, and if you’re an Apple Phone and Apple Watch user, your digital wallet will sync from device to device.

Spending money sure is easy these days, isn’t it?!

Robynn Halstad Headshot

Robynn Halstad

Office: 218.759.6919

Robynn is the Retail Market Manager for Deerwood Bank. She is based out of the Bemidji office and has been with Deerwood since 2012. Robynn obtained her B.B.A in Finance and Management from Bemidji State in 2012. In her spare time, Robynn enjoys spending time with her two children and husband. On a nice summer day, you can find Robynn enjoying the outdoors in the garden, fishing, or taking a ride in the side-by-side.

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