Mobile Wallet

GeneralGlossary term

Definition

Digital payment apps like Apple Pay, Google Pay, or Samsung Pay that store credit card information for contactless smartphone payments. Uses tokenization for enhanced security.

Related terms

Contactless PaymentTap-to-pay technology using Near Field Communication (NFC) for quick, secure transactions. Same security as chip cards with one-time encrypted codes. Limits typically $50-250 per transaction.

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