Demystifying Mysterious Things

Mobile Wallets

Mobile wallets are mobile applications that hold a user's credit card debit, or bank account information. Sometimes they also include loyalty program cards. A user can tap their phone to a point of sale device and card information is securely transmitted using Nearfield Communication (NFC) to the retailer for payment (The same technology used in this book). No more credit card swiping!


The same device that user's swipe their credit cards can be updated to support contact-less payments. Then mobile users can pay using their mobile phones through NFC technology.


Users can add payment cards to their mobile wallets by taking a photo of the card, or by entering the card information manually.


To use a mobile wallet all you have to do is download the mobile application from your phone's app store. Native mobile wallets like Android Pay and Apple Pay are the most popular as they are typically a factory installed app on new devices.

Fun facts

Facts about mobile wallets.


20% of iPhone 6 users in the United States reported using Apple Pay at least once


Over $620 Billion US Dollars moved through mobile payments in 2016


Number of users who used a mobile wallet to make a payment in 2016


The number of smartphones in the world by 2020

"The Internet is not just one thing, it's a collection of things - of numerous communications networks that all speak the same digital language."

Jim Clark

Mobile Wallets are more popular in India
than any other country

More Resources

Learn more


Here's a few reasons why you might want to use a mobile wallet

Did you know

  • No cash to steal
  • Fraud monitoring
  • No credit cards to lose or skim
  • Increased security with fingerprint scanning
  • Password protection
  • Easy to send money to family and friends
  • Don't even need a smart phone! You can transfer money using SMS

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Mobile Wallets are more popular in different parts of the world

By Country

  • India
  • China
  • Africa