Business and financial analysis research

Advantages and Disadvantage of Mobile Wallet


Currently, people are able to make payments through an app virtually or through a special and secure SIM card that allows them to make NFC payments (Near-field communication).  Therefore, mobile payments' advantages and disadvantages are worth for discussion.


  1. Easy to use – one click payment, no need to fill in the card number and password every time. People can link to their credit cards, debit cards, bank accounts, and pay immediately, effortlessly enter the payment details.
  2. Easy to use - no need a wallet, such as cash or a financial card.
  3. When dealing with cash, no need to ask or seek for exchange.
  4. You can make an immediate payment. Can exchange and transfer cash any time.
  5. Data synchronization from multiple platforms. Bank accounts, credit and debit cards, phone accounts and bills will be linked to each other to help you better manage.
  6. Cash is considered the most suitable medium for the free organization, which is very useful. In street stalls, street vendors, small shops and other mobile wallet payment will be exempted from carry cash or card.


  1. Mobile network connection is the biggest obstacle. Most developing countries are unable to provide reliable and fast Internet connections.
  2. Security issues. People are always afraid of hackers and scams abuse their money. They always feel safer and have cash. Similarly, there is a need to address the issue of identity theft. The problem of pickpockets will be replaced by these concerns.
  3. There is not enough support for the infrastructure. In countries like India, there is not enough financial inclusion and financial literacy.
  4. Does not meet the needs of all the people. This is an application on a smart phone. Most of them use simple phones.
  5. There are still many wallet operators, whether the payment of other wallet operators is feasible, there is still no clear idea
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