Your Questions Answered: The Different Digital Wallets Explained

Your Questions Answered:

The Different Digital Wallets Explained

Why is Yodel the ultimate choice for any outdoors recreation or leisure brand

Only Yodel can digitize a season pass and make it easy for you to sell, distribute and validate any pass type? Our simplicity, safety and security make it a snap for businesses and visitors alike to convert their smartphone into a season pass with multiple layers of tamper proof security.

If you’re a waterpark operator, county fair organizer or zoo manager, Yodel is the mobile first self-service payment app (available at no cost) that will transform the way you sell tickets, passes and parking.

Do you own a smartphone?

Do you spend money?

Do you hate carrying cash and still have nightmares about that lost ticket or pass that cost you precious time at a special event?

If you answered yes to any of these questions, you might be interested in a digital wallet.

Chase Bank explains it best: “A digital wallet lets you add your card info to your mobile devices or online accounts to use in stores, online or in apps without the physical card.”

A digital wallet can also hold tickets to events or boarding passes for an airplane, for example.

But the Yodel team dreamed of a digital wallet that can do far more than simply hold a barcode.

The average person checks their phone 1.2 billion times per day. OK, that might be a slight exaggeration. But you get the point. Our phones are indispensable and continue to innovate to make our lives more convenient.

If you would like more information about the logistics of digital wallets, and how Yodel Pass functions as one, check out our recent blog post to gather a better understanding. Follow this link to read more.

If you are familiar with the content, continue reading this article to compare and contrast popular digital wallets.

Smartphone Digital Wallets

If you have an Android or Apple phone, chances are you already have access to a digital wallet! Google, Apple, and Samsung all have their own wallets.

Once your credit card is entered into your smartphone’s digital wallet, you can use it to purchase items both online and at the checkout counter.

If you are at an in-person transaction, simply tap your phone on the “Near Field Communication” device at the checkout counter.

Within this type of digital wallet, you can store multiple cards, gift cards, loyalty cards, coupons, and event tickets.

Digital wallets make it easy for customers to pay for goods and services.

Not everyone takes advantage of their digital wallet. We know there are still flip phone enthusiasts and Sunday morning coupon clippers who may resist.

However, a digital wallet is one of the most straightforward ways to adopt contactless payment transactions as well as ticket/pass validation. We believe contactless will be one of the lingering impacts of COVID, as well as pre-payments and mobile-first….more on that later.

How States Are Adopting Digital Wallets

According to The Washington Post, more than 20 states in the United States are testing the opportunities to have a digital driver’s license on smartphones.

Although it is still being tested, Arizona and Georgia are reported to be the first states to implement the digital driver’s license.

We believe the low cost, high value and simplicity of digitization will drive more governments to adopt digital versions of many common paper products, think vehicle registrations and hunting licenses. 

As this trend expands, consumers will become more comfortable with digital wallets and incorporate them into their daily affairs.

Our work speaks for itself.

Person-to-Person Payment Apps

Now, person-to-person payment apps are the glue that keeps friendships together in this tech-filled world.

Goodbye to the days of carrying around wads of easy-to-lose cash to reimburse your friends.

Apps like Paypal, Venmo, Zelle, CashApp, and Popmoney function so you can store money within the app and send it to others who have the app.

The app simply connects to your central bank account, and it transfers funds directly into and out of your chosen account.

Everyone can use these apps—not just teenagers splitting the bill at dinner.

A mother can send her son money for groceries, a boutique owner can accept money for goods, a landlord can collect money for rent, and a fundraiser organization can even receive donations through a person-to-person payment app.

PayPal collaborates with individual sellers on platforms like Etsy and Facebook Marketplace. Instead of inputting your credit card information into an Etsy transaction, for example, you can use Paypal to add an extra layer of security in your transaction.

However, these apps would not allow you to pay a larger business, like a retail store or restaurant, directly.

In that instance, customers could use a smartphone digital wallet!

Cryptocurrency Wallets

Cryptocurrency is, shall we say, slightly more complex. If you don’t know what you’re doing, and many people still don’t, wallets can be confusing.

Crypto currency is a form of decentralized finance. In other words, it works independently from the government or banks.

You may have heard of “Bitcoin” before. Bitcoin is arguably the most popular brand of crypto currency that people can use to transfer funds, invest in stocks, or make a savings plan.

If you would like a more in-depth explanation of cryptocurrency, follow this link to CNBC’s article “How to invest in cryptocurrency: Exchanges, apps, wallets and more.”

Ticketing companies will have to think outside of the box office.

Organizers need to be nimble, creative and always ready to pivot on a second’s notice to keep their guests safe and in the know.

Yodel is committed to meeting these challenges and building a simpler, safer, and more secure pass management system and digital wallet for the evolving world of recreation, leisure and event management.

  • Process quick and easy transactions
  • Avoid transaction fees 
  • Maintain a sense of anonymity

Wallets Geared Towards Events

Ticketmaster and Eventbrite are two of the popular apps that are used to find local events and purchase tickets.

They also act as a digital wallet because a customer can store and access tickets and passes within the app. Instead of purchasing a physical ticket for a concert or musical, you can enter your card information and hold tickets on your mobile device.

Ticketmaster is most popular for purchasing concert tickets, but you can also purchase pases for sports events and musical performances. Both event organizers and individuals who want to resell their tickets are familiar with Ticketmaster.

As you can see, there is no one-size-fits-all definition of digital wallet. Uses and applications vary wildly.

Yodel Pass: The Ultimate Digital Wallet for All of your Recreation & Leisure Needs

Yodel Pass is a digital wallet that is a one-stop shop for all of your recreation and leisure needs.

Yodel is designed to be a self-service payment application with a powerful digital wallet designed to protect visitors and event organizers. It is one of the many digital wallets on the app store, but it is also a valuable resource for merchants and patrons alike.

Customers can search for State Parks sites and recreation facilities based on location, and store tickets and passes within the digital wallet app.

Once at the location or event, visitors can also use the app to mobile pay for parking, and receive notifications from the event facilitator.

One of the coolest parts of Yodel is you can access the resources within the app without internet connection. That means network connectivity is not required to access tickets or passes purchased on Yodel.

We recognize adventure-seekers might not always enjoy the best network connection while out on treks and trips— and that shouldn’t stop you from enjoying your event or attraction.

Yodel Pass accepts multiple forms of payment and supports mobile, website, kiosk, and POS payments. In addition, Yodel Pass is equipped with multi-layered authentication for the added security.

Yodel Pass is available for free on the AppStore and Google Play.

Carrying physical passes and tickets is going the way of the typewriter, compact disc and phone book.

2022 is nearly upon us.

Now is the time to prioritize the powerful computers we take everywhere we go.

Yodel Pass is the digital wallet that the recreation and leisure world has been waiting for to save merchants time and money and to improve customer service.

 

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