Mobile wallets allow users to conveniently carry their money with them at all times, storing payment card information on a mobile phone or device. It is one of the easiest ways to make an in-store payment at locations listed with a mobile wallet service provider. Carrying a physical wallet around is not only bulkier and no longer necessary, but also a riskier option
Dangers of Using Other Payment Methods
Mobile wallets are more secure than swiping cards because the magnetic strip on a traditional card is easy to hack. Any magnetic scanner can read and steal this information, and thieves are able to tamper with card readers, often leading to compromised accounts.