The aim of this study is to analyze and comparatively evaluate the usability of touch screen mobile applications through cognitive modeling and end-user usability testing methodologies. The study investigates the accuracy of the estimated results of a cognitive model produced for touch screen mobile phone interfaces. A mobile wallet application was chosen as the mobile software. The CogTool modeling tool was used as the cognitive modeling method. Eight tasks were determined and user tests were conducted in a usability laboratory with 10 participants. The tasks were compared on the basis of step time and total task completion time. This study reveals that CogTool gives approximate estimations with actual user performance on touch screen mobile phone application interfaces. However, if there are special cases in the tasks such that users are very accustomed to the steps or decision-making that is involved in the tasks, the Think Operation in CogTool should be modified.