Mobile payment refers to transactions of money performed through the mobile device as per the financial regulations. This has helped the public to get waived-off themselves from paying cash, cheque or carry debit/credit cards wherever they go. Instead, they can use their mobile wallet to pay for a wide range of services, digital or any of the goods they intend to purchase on the go. According to the studies, it is projected that the mobile retail payments would grow to $410.5 billion by 2020.
Content Source: http://www.mobibiz.in/blog/2017/04/05/popular-mobile-payment-apps/
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