Data transmission across mobile networks comes with its share of security risks, exposing digital wallets to risks inherent to any mobile transaction. There is also the risk of having your phone lost or stolen, jeopardising your personal and financial information. However, compared to physical cards, digital wallets are safe because digital wallets can be locked with a pin code and the same is true for smart phones, thereby providing a level of security that is lacking when someone steals your credit card or online identity.