Mobile wallets play a crucial role in facilitating transactions by allowing users to store and manage payment information digitally. They enable seamless transactions through technologies like NFC (Near Field Communication) for contactless payments and QR codes for scanning. Additionally, mobile wallets often integrate with loyalty programs and digital coupons, enhancing the user experience and promoting customer engagement. This technology streamlines payment processes, making transactions quicker and more convenient while contributing to the growth of **cashless societies** and fostering innovative financial services.