What is the difference between mobile wallets and mobile payment apps?
Mobile wallets store digital versions of credit or debit cards. Cardholders can use mobile wallets to pay for merchant goods and services.  Conversely, mobile payment apps like Venmo, Paypal, and CashApp are social payment services for peer-to-peer payments linked directly to a cardholder’s bank account. Generally speaking, most legitimate merchants do not take payments from a social payment app.