Digital wallet adoption is getting stronger
There will be over 4B digital wallet users worldwide in 2025: research. Source: pexels.com
According to Juniper Research, the number of unique digital wallet users will exceed 4.4 billion globally in 2025, rising from 2.6 billion in 2020.
The research found that mobile wallets are leading this 70% growth since mobile payments rapidly scale across geographical and vertical markets. The rising alignment between in?person and remote commerce channels is leading to greater use of mobile wallets than ever before. In fact, online wallet use confined to high-value purchases or complex bill payments.
Besides, markets such as the UK and the US are lagging behind China and India in terms of digital wallet adoption. According to data, China and India accounting for 69% of digital wallet transactions in 2025.
Juniper Research also found that QR code payments will account for 40% of all digital wallet transactions worldwide in 2025. That’s a drop from 47% of transactions a year ago. Nevertheless, over the next 5 years, the evolution of features such as card acceptance via NFC smartphones will begin to close the ease of acceptance gap.
We’ve reported that the national QR payments system will soon be launched in Australia.
SEE ALSO:
Pay Space
Our editorial team delivers daily news and insights on the global payment industry, covering fintech innovations, worldwide payment methods, and modern payment options.
