Mobile wallets now become quite familiar to everyone after Covid-19 pandemic. As there is no way to go out during pandemic, most of the people began to install mobile wallet applications and are using it for doing their day to day transactions. As college students are tech-savvy people, it is very easy for them to use mobile wallet applications. These apps was a saviour during demonetisation as well as covid period. One can able to do any kind of purchase, money transfer, bill payments and so on within a short span of time. It is also very convenient to use. The purpose of this research is to know when the college students adopted mobile wallets, level of usage and the problems faced in using mobile wallets. In nonprobability sampling, convenient sampling method is used. A sample of 384 students from colleges at Madurai district is selected. The result showed that many students installed during Covid-19 pandemic and are using it frequently for doing transactions. The major problem faced is fear of payment failure