Most of us have bulky wallets. On average, each of us has four credit and debit cards, a driver’s license, a handful of loyalty or rewards cards, and maybe a few membership cards for places like the gym and the library. We also have a little cash and several receipts. Whether we stow our bulky wallets in our back pockets or our purses, we dream of being able to grab our phone and keys and have everything we need for the day. Electronic wallets offer a solution that gets us a step closer to achieving this aspiration by consolidating many of the cards we use daily onto our phones.
Finding the best wallet app can be challenging because there are many decisions to make about what features are most important to you as well as considerations regarding device-specific availability. If you’re looking for an app that enables you to pay back or transfer money to a friend, check out the P2P Payments review. You can also read articles about mobile wallets and other solutions that can help you manage your finances. If you’re a merchant wondering if you should accept payments made using mobile wallets at your business, or if you need to know which mobile wallets may be most advantageous to accept at your establishment, we’ve included a section specifically for you at the end of this article. If you’re looking for mobile credit card processing companies, read our review for our top picks.