A mobile terminal and a method for controlling the same are disclosed. The mobile terminal includes a display unit and a controller configured to execute a specific application related to a payment, change to a payment ready state and display a payment card in a center area of the display unit when selecting the payment card among cards stored in the specific application, produce one-time payment information, a token value, and perform the payment when receiving a first input in the payment ready state, and change to a payment waiting state and control the display unit so that a display of the payment card is changed to a display of a specific indicator, when receiving a second input in the payment ready state.