The mobile wallet, which is also called mWallet, digital wallet, or eWallet, refers to a mobile technology that is used similarly to a real wallet. The Mobile Wallet provides a convenient solution for any business looking to allow customers to purchase their products online with greater ease, therefore driving sales. As mobile use grows rapidly, users begin to go online more often via mobile and even shop via mobile. With the mobile wallet, it is possible to hold all of the items that a physical wallet would carry on your mobile device.

The mobile wallet can hold rewards cards, medical records, credit and debit cards, and personal items. Rewards cards are useful in the mobile wallet because they will increase brand loyalty and make it extremely simple for customers to conduct transactions with a specific company via their mobile device. The mobile wallet can also hold medical records, which is beneficial for having important documents on hand at all times. The mobile wallet also has superior security features to ensure that such sensitive information remains secure.

Credit and debit cards are also available in the mobile wallet, making secure transactions simple to conduct via a mobile device. Finally, the mobile wallet can store personal items such as photos and files for the added feeling of a real wallet. The mobile wallet is reflective of the increasing presence of mobile devices in daily life. With the rise in the BYOD (Bring Your Own Device) phenomenon, employees are using mobile devices in every aspect of their lives, from home to the workplace.