Glossary

Mobile payments

Payments for goods or services made from or via a mobile device such as a mobile phone, smartphone or tablet. Mobile payments technologies vary in type and application. Some are restricted to point-of-sale transactions, while others are best suited for micropayments of up to $10. Some require bank accounts or credit cards, others do not. Some require smartphone apps to function, others work on feature phones. What all have in common is the fact that a mobile phone is required.