While consumer awareness of mobile and digital wallets is growing, many are still unfamiliar with how wallets actually work and have yet to try making a mobile payment. Several critical factors help enable mobile payments and foster greater consumer usage. For example, to use a “Pay” wallet, i.e., Apple Pay, Android Pay, or Samsung Pay, consumers must have near field communication- (NFC) enabled mobile phones, while digital wallets, such as Visa Checkout and Masterpass, are device-agnostic. Consumers must also have credit or debit cards that their issuing banks support for the specific Pay wallet. Finally, consumers need retail locations to use mobile and digital wallets, so merchant acceptance is key.