M-wallet is a service that enables users to store their debit or credit card information, pay for goods and services, and request/send money from/to their contacts [5]. Just like a physical wallet, a m-wallet can store credit card numbers, electronic cash, owner identity, information of contact, billing or shipping details and other information [6]. As the popularity of m-devices continues to increase, m-wallet is expected to be a prevalent payment method in the future for various financial transactions [4].