Mobile payment systems allow users to make financial transactions using their smartphones or other mobile devices. These systems enable payments for goods and services through apps or digital wallets, such as Apple Pay, Google Pay, or Samsung Pay. Users can link their bank accounts or credit cards to these apps, making it convenient to pay without cash or physical cards.
These systems often use technologies like Near Field Communication (NFC) or QR codes to facilitate transactions. Mobile payments are becoming increasingly popular due to their speed, security, and ease of use, allowing consumers to shop and pay on the go.