Definition
Mobile payments are a form of digital transaction where money is transferred or spent using a mobile device such as a smartphone or tablet. They replace the need for physical cash or payment cards by using apps, QR codes, contactless technology, or in-app payment systems. In a crypto context, mobile payments can involve sending or receiving digital assets through wallet apps installed on a mobile device.
This concept covers a wide range of payment methods, from traditional bank-linked apps to cryptocurrency wallets and services. The core idea is that the mobile device acts as the primary tool for authorizing and confirming payments. Mobile payments emphasize convenience and portability, making digital money accessible wherever an internet or network connection is available.
In Simple Terms
Mobile payments mean paying or getting paid using a phone instead of cash or a plastic card. A person opens an app, chooses an amount, and the app handles the transfer of money or digital assets. In crypto, this often looks like scanning a code or entering a wallet address in a mobile wallet app.
The mobile device becomes a kind of digital wallet that stores payment methods and, in some cases, cryptocurrencies. This makes it possible to carry out everyday transactions digitally, using only a phone that is already part of daily life.