GROWTH: Digital wallet transactions are forecast to rise from US$7.5tn in 2022 to over US$12tn in 2026
The total value of digital wallet transactions globally will exceed US$12tn in 2026, up from US$7.5tn in 2022, and the total number of digital wallet users worldwide will increase from 3.4 billion in 2022 to more than 5.2 billion in 2026, according to a forecast by Juniper Research.
The forecast also predicts that QR code payments will be the most popular type of digital wallet transaction in 2026, reaching a total of 380bn transactions or 40% of all transactions by volume.
The research predicts that “the presence of ‘superapps’ will drive digital wallet use in developing countries that are currently considered cash heavy” and identifies three Asia Pacific countries — the Philippines, Thailand and Vietnam — as being “primed for rapid growth over the next four years”, with digital wallet adoption approaching 75% of the population in each of these countries by 2026.
Global digital wallet spend to exceed US$12tn in 2026 was written by Tom Phillips and published by NFCW.