An electronic device and a method for supporting a payment function are disclosed. The electronic device includes a communication module, at least one memory configured to store a payment application and payment information relating to the payment application, and a processor, wherein the memory stores instructions that, when executed, cause the processor to receive the payment information from an external device via the communication module and store the received payment information in the memory, receive a stop or deactivation request of the payment application and/or the payment information from the external device via the communication module, and in response to the request, stop or deactivate the payment application and/or the payment information.