A mobile wallet is a financial instrument that allows businesses and individuals to receive and send money via mobile devices. It is a type of e-commerce model that is developed with mobile devices owing to their convenience and easy access. A mobile wallet is also called mobile money or a mobile money transfer. Digital wallets refer to an electronic device or an online service that allows an individual to make electronic transactions. This can include purchasing items online with a computer or using a smartphone to purchase something at a store.

Take a glance at the mobile wallet adopters attitudes:

• 85% of surveyed mobile wallets adopters reported that they will be using mobile wallet much more for making payments in two years’ time.
• 84% indicated that paying using mobile is more convenient than cash.
• 83% mentioned that they use their mobile wallets much more for making payments now than two years ago.

A Graph Shows The Percentage of Mobile Wallet Adopters Who Agree With Each Statement, 2018.