Juniper Research has found that the value of digital wallets transactions will exceed $12 trillion in 2026, up from $7.5 trillion in 2022.
It predicts that major digital payment vendors will diversify their payment products to include new solutions, such as BNPL and cryptocurrencies.
The new research unveiled that rising merchant acceptance of digital wallets methods at e-commerce checkouts has been a driving force behind enabling further digital wallets use. It predicts that APIs that connect financial institutions to local retailers will be key to the international growth of digital wallets usage for large, cross-border eCommerce merchants.
Juniper Research’s Competitor Leaderboard for the digital wallets market has identified the 5 leading market vendors as follows:
- WeChat Pay
- Apple Pay
- Google Pay
We’ve reported that there’s a dip in online spending as Europeans have less purchasing power.