By mobile payments we mean paying for things with a digital device that you carry rather than a credit/debit card or wallet.  The device interacts with a POS (Point of Sale) terminal, vending machine, or entry pass point (gate). It may seem a bit foreign at first glance, but its actually a logical means for transactive business – unless you are standing in a corn field in Iowa.

Mobile Payments Are Poised For Takeoff – Business Insider

Thanks to Business Insider