Digital wallets are a rapidly growing segment of the fintech market, which has accelerated since the global COVID-19 pandemic. They're important in the fields of financial inclusion, and movement towards a cashless Global Networked Economy. There are many types of digital wallets, fulfilling different use cases. Digital wallets enable users to pay for both online and offline transactions via either stored payment credentials -- such as debit cards, or currency stored in the wallet -- by utilizing apps on smartphones and mobile wearables. Digital Wallet Market Development According to the latest worldwide market study by Juniper Research, the total value of digital wallets transactions will rise from $9 trillion in 2023 to surpass $16 trillion in 2028 -- that a CAGR of 77 percent. This trend is driven by growth across both developed and developing markets across the globe, as the increased adoption of advanced services such as Buy Now Pay Later (BNPL), micro-loans, and personal fina...
TMT Market Research and Analysis