Mobile payments have been gaining widespread popularity and acceptance in recent years, with an increasing number of consumers shifting towards cashless payments method. Technologies that allow mobile devices to initiate a payment transaction continue to spread across the globe. Fintech services have grown significantly over the years, allowing easy and high-quality online banking and payment services. These IT innovators have put the financial sector under pressure. Additionally, the coronavirus pandemic has resulted in organizations and governments encouraging the use of new payment methods instead of physical cash to prevent the spread of the virus. These two factors have turned the rise of mobile payments into one of the most significant developments in current financial behavior.