Mobile wallets are a hot topic right now, and the #1 question people keep asking is if they’re safe. The short answer, YES they are safe!

But how do I know that you’ll be safe? Because your credit cards are credit cards, no matter if they’re in your real wallet or your digital wallet. With MasterCard handling the transactions, you’ve got the same protections if someone gets ahold of your smartphone and starts making fraudulent purchases as you do with your ‘real’ credit card. You can report a card as being stolen the same way you do now—just because it’s stored inside a digital wallet doesn’t mean it’s any less safe!

New phones are being released constantly with the tech to support digital wallets, like the Google/Samsung Nexus Prime announced last night in Hong Kong. This tech is going to be blowing up soon, so it’s important for you to be up to date on it.

Your digital wallet is locked with a PIN number, just like your ATM card. But how can you be even more safe? Here’s a few tips:

1. Set a lock code on your phone. I know, I know, it’s annoying to type in a code every time you use your phone. But you have tons of sensitive info in your smartphone: email addresses, phone numbers, texts, pictures. A pin code is a simple way to keep a stranger out of everything on your phone, not just your wallet.

2.Pick a good lock code! I can’t stress this one enough. This means no birth years, no 1234’s or 9876’s. No spelling cute words like 5683 (or “LOVE” when spelled out). In other words: nothing obvious.

3. Don’t lose your phone. Just kidding, we all lose our phones sometimes. It’s even happened to me, believe it or not. The real #3 is actually be prepared. This means set up Find my Phone on your iPhone or use something like Prey on your Android phone to track them in case your smartphone disappears. Who knows, you might even be able to track it down yourself, or at least figure out where you left it.

And be sure to check my video for even more info on how your digital wallet is safe: