A mobile wallet is a digital application that allows users to store and manage their payment information on their smartphones. It enables users to make purchases, send money, and receive funds without needing physical cash or cards. Popular examples of mobile wallets include Apple Pay, Google Pay, and Samsung Pay. Mobile wallets use technologies like NFC (Near Field Communication) to facilitate contactless payments at retail locations. They also often include features for tracking spending, managing loyalty cards, and accessing coupons, making them a convenient tool for everyday transactions.