Mobile payment systems facilitate transactions through smartphones and other mobile devices, offering a convenient alternative to traditional cards or cash. Two prominent examples of these systems are those developed by Google and Samsung, enabling users to make purchases at participating merchants by linking their bank accounts and credit cards to a digital wallet.
The proliferation of mobile payment solutions has streamlined the purchasing process, reducing reliance on physical wallets and enhancing transaction security through tokenization and biometric authentication. The advent of these technologies reflects a broader trend toward digital transformation in financial services, driven by consumer demand for frictionless payment experiences and advancements in mobile technology.