The only payment method whose share of global point-of-sale transaction value will increase from 2023 to 2027 is digital wallets, which will account for 46% of total value by the end of that period, according to a report published by Worldpay in March 2024.
“Over half (56.9%) of the US population will use digital wallets this year, totaling 161.6 million users,” per a forecast by EMarketer.
Apple Wallet is the most popular digital wallet, accounting for almost half (49.0%) of all mobile wallet users in the United States. It is followed by Google Wallet (30.1%) and Samsung Wallet (12.9%).
According to a November 2023 survey conducted by PYMNTS and AWS, consumers who use digital wallets spend 31% more than those who do not.
Ariel Ben Solomon is the Growth and Strategy manager at Ecomhunt. He is the host of the Ecomhunt Podcast. Can be followed on Twitter at @ArielBenSolomon
