The holidays are here and that means spending time with family, feasting with friends and enjoying the season. Sadly, fraudsters love the holidays, and they’re working overtime to get at your debit and credit card information.

The good news is that your smartphone has an app to help you protect your financial information: the mobile wallet. Best of all, it’s free!

What is a mobile wallet and how does it work?

A mobile wallet is a digital version of the wallet you carry around. When you add your Consumers debit or credit card to your mobile wallet, your card is assigned a randomly generated 16-digit number. When you make a purchase, your phone sends this number to us to authorize payment. Because your actual card number is never transmitted or saved by the store – hackers can’t get to it!

Purchases with your mobile wallet

Making a purchase is as easy as holding your phone up to any credit card reader that accepts contactless payments. You’ll know if you can use your mobile wallet if you see this symbol:

Your phone will only transmit information if you have unlocked it. If you lose your phone, your information is secure behind your lock screen. If you drop a credit card, it’s ready to be used by the first person that picks it up!

Here are a few of the most popular mobile wallet apps you can use:

• Apple Pay™
• Google Pay™
• Samsung Pay

Learn how these mobile apps work with Mastercard here.

This holiday season, give yourself the gift of peace and well-being by adding your Consumers credit and debit cards to your mobile wallet.