PERCEPTION OF PEOPLE TOWARDS MOBILE PAYMENT APPS

Abstract

Payment Apps or mobile wallet refers to the payment services operated under financial regulation and is performed using a mobile device. The concept of paying using cash, cheque, debit or credit card is off lately becoming outdated. The new payment mechanism which involves payment for a transaction using the mobile wallet or mobile money transfer is gaining momentum. The concept of mobile payment is gradually being accepted and adopted across the globe in different ways. The exclusive first patent defined as ‘Mobile Payment System’ was filed way back in the year 2000. A mobile payment app is an app that consists of your debit and credit card information which helps the users to pay for goods and services digitally or to transfer money to other users using their mobile devices.