Using mobile wallets like Google Pay or Apple Pay makes paying more convenient, but it might also make you spend more. According to data from Payments Canada, 53% of mobile wallet users increased their usage of this payment method in 2022. Just like how the invention of credit cards made it easier to spend compared to physical cash, mobile wallets do the same — and can lead to even more overspending. A recent study looking into the adoption of mobile payments in China found that people were spending about 9.4% more on their credit cards after switching to mobile payments. In Canada, it’s not just the largest banks that let you load your cards onto mobile wallets — services like Toronto’s Presto transit card and the Scene+ card can also be added, making it easy to rack up charges. While there’s no need to ditch your payment apps, researchers say it’s smart to stay aware of how easy it is to overspend when using a mobile wallet. Always remember: with great tapping ability comes great spending responsibility.