Digital wallet use in the U.S. is projected to overtake debit cards in transaction value for in-store payments by 2027. It already accounts for 37% of US e-commerce transactions overtaking debit and credit cards. The relentless growth of digital wallets will see more than 5.3 billion users by 2026 - more than half the world's population.
Digital wallets have grown in popularity as consumers have become more accustomed to the convenience and flexibility of contactless payments and have become more trustful in the process. Gen Z is leading the charge with digital wallets. Our wallets, once bursting with cash, cards, and receipts, are getting a digital makeover.
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