Final answer:
Mobile payment systems allow users to pay for goods and services using their smartphone or other mobile device to transfer funds in a way that is convenient, safe, and secure.
Step-by-step explanation:
The subject of this question is Computers and Technology:
Mobile payment systems allow users to pay for goods and services using their smartphone or other mobile device to transfer funds in a way that is convenient, safe, and secure. These systems use technologies such as Near Field Communication (NFC) or mobile apps to facilitate transactions.
For example, popular mobile payment apps like Apple Pay and Samsung Pay use NFC technology to enable users to make contactless payments with their smartphones. Mobile payment systems have become increasingly popular in recent years due to their convenience and security features.
They eliminate the need to carry cash or physical credit cards, and transactions can be completed quickly and securely. Users can simply tap their smartphone on a compatible payment terminal or scan a QR code to authorize the payment. Additionally, most mobile payment systems offer encryption and tokenization to protect users' financial information.