Mobile wallet penetration in 2023was much higher in Asia than in Europe, with countries like India and Indonesia significantly outranking a country like Sweden. This is according to consumer survey results from early 2023. It reveals that the market size of mobile wallets is much higher in emerging countries than in North America or Europe, as wallets are often the first digital payment method to gain widespread acceptance in Asia or the Middle East. Mobile wallets in Europe and North America compete against existing digital payment systems such as credit cards or debit cards. POS vs. e-commerce Are wallets preferred in physical stores or in online shopping? By and large, digital wallets are used more regularly online than offline. Asia leads here too, with nearly 70 percent of e-commerce transaction value in the region being handled by wallets. Wallets accounted for roughly half of global e-commerce transaction value in 2023, which is forecast to increase to 61 percent by 2027. Future growth The United States is expected to see an increase in the use of wallets, with card-linked wallets reaching a Compound Annual Growth Rate (CAGR) of 10.5 percent. This was lower than forecasts made for countries in Southeast Asia, however, with the predicted number of digital wallet users in Indonesia being a particular stand-out. This is attributed to the growth of so-called "super apps" in Asia - apps that combine multiple functionalities such as taxi services, online shopping, food delivery, and payment services. Notable brands for Indonesia are Ovo and ShopeePay.

Use of apps like Apple Pay or Google Pay in North America is believed to double between 2020 and 2025, although Asia's market size will take up more than ** percent of the entire world. This according to forecasts on the value of conducted transactions with this payment technology. Mobile wallets include but are not necessarily the same as NFC or contactless wallets: the figures shown are on apps such as PayPal or Google Wallet that allow consumers to upload credit card or debit card details to their phone to make a purchase either online or in-store. China was considered the world's leading country on proximity mobile payments - contactless payments which involve a smartphone - due to the popularity of Alipay and Tenpay.

Cryptocurrency payments are forecast to grow at a CAGR of nearly 17 percent between 2023 and 2030, although the market is relatively small. The forecast is according to a market estimate made in early 2023, based on various conditions and sources available at that time. It should be noted, however, that cryptocurrency used for payments is predicted to be a far smaller market than the predicted transaction value of CBDC, or the forecast market size of instant payments. Indeed, research from early 2023 across 40 countries suggested that the market share of cryptocurrency in e-commerce transaction was "less than one percent" in all survey countries, with predictions being this would not change in the future.

In 2024, younger consumers were over ***** as likely to utilize digital wallets in e-commerce than their elder counterparts. This is according to a survey held in 14 different countries across North America, Europe, and Latin America. The share of users among Gen Z and Millennial respondents in the survey, aged 18 to 43 years old, was higher than the other age groups. Digital wallets were used slightly more frequently by male respondents than female respondents.

In 2023, the number of mobile wallet users in Indonesia reached around *** million people, indicating an increase of about ** million users compared to the year prior. A mobile wallet is a virtual wallet that stores payment card information on a mobile device, it is either a built-in feature or an app that can be installed onto smartphones. Notably, Go Pay emerged as the undisputed virtual wallet leader, with the majority of respondents in a July 2022 survey choosing it as their preferred e-wallet. Digital payment landscape The penetration rate of the digital payments sector in Indonesia experienced strong growth in 2024, with its two main segments expected to expand significantly by 2030. This growth indicates that Indonesia is relying more on digital payment methods following the growth of technology that continues to reshape financial landscapes. This trend is also shown through the rising revenue of the digital payments segment of the fintech market, which is expected to expand further in the coming years. QR code payments trend Indonesia’s shift towards the future of digital transactions continues to be evident. An interesting revelation from a consumer behavior survey in October 2022 is the growing interest in QR code payment methods. Most respondents expressed interest in QR code payment methods, and a large proportion indicated having engaged in this activity in the same year.

In 2023, the number of mobile wallet users in Indonesia reached approximately *** million users. There was an overall increase in users of every country over the observed period.

A prediction on how mobile wallet users in the United Arab Emirates will develop states that klip - launched only in late 2020 - will have overtaken other apps by 2025. This expectation comes from klip being part of a joint nationwide initiative to replace physical cash with digital payments, and was rolled out by several financial institutions at the same time - including the UAE Banks Federation, the Central Bank and several national banks. The app's developer, Emirates Digital Wallet or EDW, mentions that klip works with QR codes and is meant to take over any instance where physical cash is being used. Indeed, the EDW mentioned that klip is "the only interoperable solution between merchants and consumers in the UAE". Whilst the United Arab Emirates did not register the highest unbanked population in the world in 2021, roughly **** out 10 consumers in the consumer did not have access to financial services in 2021.

As of May 2019, ** percent of smartphone owners in the United States were still reluctant to try out mobile wallets due to security reasons. Not knowing where mobile wallets were accepted was another common barrier to adoption.

According to a survey on digital payments by Oppotus, ** percent of Malaysian respondents stated that they have made payments through e-wallets in the 4th quarter of 2022. The share of those who used digital wallets have decreased this year, from ** percent of respondents in the 1st quarter of 2022.

Digital wallets were significantly more used in Asia-Pacific than in other parts of the world in 2024. Wallets accounted for almost 75 percent of e-commerce payments in the region, more than roughly 50 percent in both Latin America and MEA. Wallets accounted for more than half of global e-commerce payment transactions, which will increase to 65 percent in 2030.

As of June 2024, e-wallets dominated digital payment methods in Indonesia, used by ** percent of respondents. This usage is boosted by a young population and expanding mobile internet access. At the same time, banking platforms and Buy Now, Pay Later services have been widely adopted, by ** percent and ** percent of users respectively, demonstrating the growing trend toward flexible, cashless payments. Increased adoption of digital payments The country's most widely used e-wallets, such as GoPay, OVO and DANA continue to grow due to their convenience, particularly with super apps such as Grab and Go-Jek, allowing daily transactions across all sectors. Meanwhile, Buy Now Pay Later systems are growing in popularity as consumers seek short-term credit options, particularly younger users or those who lack access to conventional bank credit. Digital finance trends The rapid adoption of digital payment platforms in Indonesia, driven by the Quick Response Code Indonesian Standard (QRIS), has facilitated the transition from traditional offline to online financial activities. Developed by Bank Indonesia, this national code simplifies payments by eliminating the need for a bank account or credit card. As financial literacy in Indonesia gradually improves, fintech and e-commerce services are on the rise, with digital payments expected to grow by more than ** percent by 2028. In the coming years, Indonesia aims to strengthen financial governance and move towards a cashless society.

Combined figures on 14 e-wallet applications in the Philippines revealed that there were ** million active users in 2022, or those who logged into the app at least once in the last 30 days. Despite the decrease from the previous year, the number of active mobile wallet users in the Philippines could grow by ** percent in 2025.

Digital wallets were more likely to be used for e-commerce in Germany than in Canada or several other European and North American countries. This is according to a survey held in seven different countries across the region. Germany and Italy were the only countries to exceed the global average for the use of this payment method in e-commerce. Note that this global average does not include countries from Asia-Pacific, the Middle East, or Africa.

In 2023, the number of active e-wallet users in Vietnam reached around 32.8 million people, out of over 57 million activated accounts. Vietnam's fintech sector has been accelerating fast in recent years, reflected in the consistent growth of the country’s digital payment segment. The state of contactless payments in Vietnam Thanks to the high penetration rate of smartphones, the increasing numbers of internet users, and the growing e-commerce sector in the country, Vietnam has embraced the convenience and efficiency of digital payments. According to a 2023 survey conducted by VISA, around half of Vietnamese respondents confirmed having used mobile contactless payments. Moreover, the Vietnamese government has been actively encouraging cashless transactions as part of its digital economy transition strategy. In the third quarter of 2024, the value of domestic cashless transactions in Vietnam reached over 74 quadrillion Vietnamese dong, with credit transfer being the leading payment type. QR code and BNPL payments on the rise Although mobile wallets are still the most popular online payment method, QR code payment is becoming more common among consumers in Vietnam. This smart payment trend allows consumers to conduct payments via scanning a QR code using their smartphones, eliminating the need for physical cash or cards. In 2022 and 2023, the share of Vietnamese consumers who said they used QR codes for payments saw a noticeable surge compared to the previous year. This payment method is widely adopted in supermarkets, retail stores, as well as local markets. Another emerging trend in the Vietnamese digital payment landscape is Buy Now Pay Later (BNPL). Particularly favored by the younger generation, this new payment method offers consumers the flexibility to purchase different types of goods and services immediately and pay in installments within a time period. The rise of QR codes and BNPL payment methods marks the country’s shift towards a more dynamic digital and cashless economy in the future.

This statistic presents the share of online consumers in the United States who use digital wallets, sorted by age group. During the May 2017 survey, 30 percent of respondents aged 18 to 29 years stated that they used digital wallets and 26 percent did not use digital wallets but were probably going to.

This statistic presents the share of online consumers in the United States who use digital wallets. During the May 2017 survey, 17 percent of respondents stated that they used digital wallets and 21 percent did not use digital wallets but were probably going to.

According to a survey in 2024, ** percent of respondents in Malaysia stated they have used Touch 'n Go e-wallet in the past three months. Meanwhile, MAE e-wallet by Maybank, Malaysian leading bank, followed in the second place with ** percent of respondents said they have used the e-wallet recently.

The volume of mobile wallet transactions was about ************ in financial year 2021, a significant increase from about **** million transactions in financial year 2013. The growth in transaction volumes dipped in financial year 2021 due to the Covid-19 pandemic.

The users base of several e-wallets in Indonesia is forecast to more than triple between 2020 and 2025, as online shopping is set to grow in Southeast Asia. Indeed, Statista estimates that the CAGR for online shopping in Indonesia is to be over ** percent during this timeframe. Digital payment app Ovo - used predominantly for online food and offline payments at street food merchants - is expected to be one of the main benefactors of this development, if only because Singapore superapp Grab had taken a majority ownership in Ovo in October 2021. ShopeePay was also a popular payment app, as it is integrated within e-commerce platform Shopee and often has promotions or cashback deals.

Digital wallets were more likely to be utilized for gaming in Germany as compared to Canada and several other European and North American nations. This was according to a survey held in seven different countries across North America and Europe. Nonetheless, the overall use of this payment method for gaming was consistent across various countries, with an average usage rate of approximately 14 percent.