Mobile Wallets Compared - Which Is the Best?

Mobile payments are now a part of everyday life, allowing fast and secure transactions with a smartphone. Apps like Apple Pay, Google Pay, Curve Pay, Samsung Pay, and MobilePay enable users to pay contactless, online, and within apps without a physical card. This article presents the most popular mobile wallets, their features, costs, and how to set them up.

In everyday terms, mobile payments mean making purchases using a smartphone via contactless technology. More broadly, the term also includes payments made within apps and online stores, as well as sending money through mobile devices. Mobile payments rely on a dedicated service called a mobile wallet. Apple Pay is one of the most well-known examples.

With mobile payments, there’s no need to carry physical payment cards, which makes spending more convenient—after all, most people always have their phones at hand. Mobile wallets can also use virtual payment cards at standard point-of-sale terminals. A virtual card exists solely as a number without a physical form. Advanced wallets can even transmit loyalty program details along with payment information, speeding up the checkout process.

Most mobile payment methods use NFC technology (Near Field Communication), which enables short-range wireless data exchange between a payment terminal and a phone.

At checkout, the user holds their mobile device near the terminal to establish a wireless connection. The mobile wallet sends the card details to the terminal, typically using tokenisation — a security feature that replaces the actual card number with a one-time code. This approach enhances security and reduces the risk of unauthorised access to card data. Once authorised, the transaction is processed just like a regular card payment.

To use mobile payments, you need an NFC-compatible device, a suitable mobile wallet app, and a payment terminal that supports contactless transactions.

Here’s a look at some of the most popular mobile wallets from the perspective of users in Europe. While designed for everyday convenience, mobile wallets can also help boost security when using credit cards abroad. However, no technology guarantees complete safety, so it’s essential to manage your payment methods carefully.

Apple Pay is Apple’s mobile payment service, available on iPhones, Apple Watches, and other Apple devices. It uses tokenisation to process card information securely.

Setting up Apple Pay is straightforward, especially within Apple’s ecosystem. The service offers high security and enjoys widespread acceptance among merchants. The main limitation is that it only works on Apple devices, as the NFC chip has long been locked to third parties. While not all payment cards are compatible, most major Finnish banks support Apple Pay.

Google Pay provides Android users with a contactless payment experience similar to Apple Pay. It works on most Android smartphones and select Wear OS devices. Google Pay integrates with Google Wallet.

Google Wallet stores digital cards and other info, while Google Pay uses them for payments. Wallet combines payment cards, loyalty programs, and transit passes in one convenient place.

While Google Pay is widely accepted, compatibility varies by device and bank. Not all cards can support Google Pay, though most major banks are supported. Security and implementation closely mirror Apple Pay’s, but Google Pay’s strength lies in its smooth integration with other Google apps and services.

Curve Pay is a next-generation mobile wallet that consolidates multiple payment cards into a single physical card and a digital wallet. It supports NFC payments and tokenisation, such as Apple Pay and Google Pay. One unique advantage is the option of a physical card that represents all stored cards, which also enables ATM cash withdrawals.

Since Apple recently opened its NFC chip to third parties, Curve Pay has brought contactless payments to iPhone users as well, significantly expanding its reach. Curve Pay works smoothly on both Apple and Android devices, freeing users from being locked into a single operating system.

Curve Pay isn’t tied to a specific ecosystem like Google Pay or Apple Pay.

Curve Pay offers more features than Apple Pay or Google Pay. While basic functions are free, a monthly subscription unlocks extras such as cashback and lounge access. Curve Pay also lets users retroactively switch which card was charged for a transaction (“Go Back in Time”), allowing you to change the payment source after a purchase.

Curve Pay handles currency conversions with no extra fees.

Unlike traditional wallets that focus mainly on payment processing, Curve Pay doubles as a card management platform, combining extra perks and management tools in one app. Nearly any Visa or Mastercard can be linked without requiring direct bank support.

Samsung Pay is Samsung’s mobile payment solution that supports NFC and other proprietary technologies across Samsung devices.

Samsung Pay operates similarly to Google Pay but is exclusive to Samsung phones. Samsung has partnered with Curve Pay to introduce Samsung Pay+, allowing users to manage Curve Pay cards within the Samsung Pay app.

MobilePay is a mobile wallet popular in Finland and Denmark, designed for easy money transfers and contactless payments via phone. It supports most Android and iOS devices and features group expense sharing and gift sending. You can also use it for online payments.

MobilePay links the user’s bank account or cards to the app, with transactions carried out via phone numbers. In stores, payments are made either by scanning a QR code or holding the device near the payment terminal. However, contactless payments require manual confirmation on the phone screen.

MobilePay is widely accepted in Finland and Denmark, though performance depends on the bank and device. Its main strengths are ease of use, speed, and secure payments or transfers without sharing IBAN details.

A limitation of MobilePay is that it mainly operates only in Finland and Denmark.

All the mobile wallets described here offer free basic use. Curve Pay charges for premium features via monthly or annual fees, and MobilePay may apply fees on certain private transfers. Compared to Google Pay and Apple Pay, Curve Pay stands out by offering free currency conversion—a feature that the others do not provide.

Before getting started, consider which service fits your needs and device ecosystem. For example, Apple Pay works exclusively on iOS, Google Pay on Android, and Curve Pay on virtually all devices and operating systems. It’s often best to choose one primary payment service and complement it with MobilePay for Finnish and Danish bank transfers.

All the apps are readily available in app stores and are easy to set up. To start making transactions, you’ll need to verify your identity and add at least one payment card.

Your ideal mobile wallet depends on your personal preferences. Apple Pay, Google Pay, and Samsung Pay work reliably within their own ecosystems and offer similar core features. Curve Pay stands out as ecosystem-independent and packed with extra features, making it particularly useful for travellers or users seeking more flexibility. For everyday payments, however, Apple, Google, or Samsung Pay typically suffice.

MobilePay differs from these wallets but is favoured for its simplicity and convenience in peer-to-peer transfers, making it worthwhile to set up. It’s wise to have one additional mobile wallet for handling payments as well.

Mobile payments provide a fast, convenient, and secure way to pay. The best mobile wallet depends on your device and usage habits, and most services are free for basic use. Curve Pay offers a versatile option independent of any ecosystem, while MobilePay shines with its straightforward service tailored to Finnish users.

Users should select the mobile wallet options that best fit their needs, and it’s completely acceptable to use several wallets simultaneously. Additionally, some country-specific solutions can offer extra benefits for international mobile wallet users.

Tags: payment card, mobile wallet, currency exchange Destinations: