PayPal, Apple Pay or Google Pay? What are the safe and very private digital wallets? – Business

With the ease of touching the equipment at the terminal to complete the transactions, it is common to use a smartphone or smartwatch to pay goods and services. According to the Consumer Reports study, The use of digital portfolio is still increasing and 29% of citizens in the United States are already using this payment shape at least once a week.

“Although this digital transformation offers ease and increased access, it has special challenges and opportunities for financial inclusion“

Six digital wallets were analyzed in relation to apps, websites and features: Apple, Google, Cash, PayPal, Samsung and Veno. The The report states that each company offers specific services and features, but all those who have the ability to make contactless payments and P2P transfers except Google.

See six services scores in the gallery:

The study believes that digital portfolios use safety measures to protect customers and transactions. However, when contacting sensitive information, payment or transfers, all applications do not need to standardize users. You Researchers say that the policy of cheating monitoring and responsibility is different between companies, so it is not always clear to consumers.

Most companies also say that the data minimizing practice does not adhere to. “Due to the nature of the services provided, digital portfolio has the reason to collect, use and share sensitive information such as identity data, social and economic security numbers“Consumer Reports believe that these services such as digital portfolios should adhere to data minimization principles. Everything else should be limited to internal research to improve deficiencies or improving customer experience. In this case, most companies that evaluated do not follow this need.

Another conclusion is that there is a place to improve application technology to make the control of your data and to make it simple to customers. Companies are very transparent about the diverse features offered in applications, which is a legal documentation and app store. Consumer reports, however, pointed out that companies should improve communication on the risks of using their services.

Applied rates of transfers are clearly shown in the transaction process. But they have to show them more prominent throughout the process. And and Although all companies offer access routes to contact customer support, they take time to solve problems, they must be more transparent.

Most companies encourage additional services in their applications, if not mandatory, but a tool to capture more sales. The study points out that all companies should agree with the rules that are unfair to access customers. On the other hand, the applications make the basics only to support customers in their expenses management and tracking, and fail to advise their accounts to the financial health.

Can be contacted on a full study page User reports.