Digital wallet statistics: Usage and market size
We look at digital wallet usage in the UK and globally.
Digital wallets are becoming a popular choice in the UK and around the world, with many of us choosing to pay from our bank accounts using Apple Pay or Google Pay rather than a debit card. We look at digital wallet usage in the UK and globally, as well as the market size compared to other payment methods.
Quick overview
- Over three-fifths (60%) of the global population is predicted to use digital wallets in 2026.
- There were 3.4 billion digital wallet users in 2022, growing to a projected 5.2 billion in 2026.
- An estimated 54% of e-commerce payments will be made via digital wallets by 2026.
- Almost half (49%) of global online transactions were made with a mobile wallet in 2022.
- Over a third (35%) of UK online transactions were made with a mobile wallet in 2022.
- Apple Pay is the most popular mobile payment service in the UK as of March 2023.
- As of 2020, Apple Pay had 507 million users worldwide.
- As of April 2022, Google Pay had 150 million users worldwide.
Digital wallet market size
In 2022, approximately half (49%) of all e-commerce payment transactions around the world were made with a mobile wallet, making it the most popular online payment method.
The market share is set to increase further by 2026, as projections suggest that 54% of e-commerce payments will be made via digital wallets by 2026. It’s also estimated that 60% of the global population will use digital wallets by 2026.
There’s no doubt that digital wallets are becoming a payment method of choice for many of us. With so much of our lives stored in our phones already, it’s easy to pay with mobile too!
| Payment type | 2022 | 2026 |
|---|---|---|
| Digital wallet | 49% | 54% |
| Credit card | 20% | 16% |
| Debit card | 12% | 10% |
| Account-to-account (A2A) | 9% | 10% |
| Buy now, pay later (BNPL) | 5% | 6% |
How many digital wallets are there?
In 2022, there were around 3.4 billion digital wallet users globally, and this figure is estimated to rise to a whopping 5.2 billion users by 2026, an increase of 53%. The number of digital wallet users has grown from 2.6 billion in 2020, a rise of over 30% to 2022.
Digital wallet market growth
Globally, the value of transactions made using digital wallets is predicted to be approximately £7 trillion ($9 trillion) in 2023. By 2028, this is expected to grow a further 77%, with the value of transactions on mobile wallets reaching over £12 trillion ($16 trillion).
UK digital wallet market
Digital transactions worth approximately £259 billion were made in the UK in 2022, and over a third (35%) of online purchases were completed using digital wallets. This is up from 29% of online purchases in 2019.
| Year | Digital wallet | Credit card or charge card | Debit card | Buy now pay later | Other |
|---|---|---|---|---|---|
| 2019 | 29% | 26% | 29% | 3% | 13% |
| 2020 | 32% | 23% | 29% | 5% | 11% |
| 2021 | 32% | 27% | 32% | 6% | 3% |
| 2022 | 35% | 24% | 22% | 8% | 11% |
Digital wallets are a less popular in-store payment method in the UK compared to online, accounting for just 10% of transactions in 2022. However, this is still up from just 4% in 2019, and the share of digital wallet payments has been increasing year on year.
| Year | Debit card | Credit card or charge card | Digital wallet | Cash | Other |
|---|---|---|---|---|---|
| 2019 | 48% | 20% | 4% | 27% | 1% |
| 2020 | 49% | 24% | 8% | 13% | 6% |
| 2021 | 45% | 28% | 9% | 11% | 7% |
| 2022 | 47% | 29% | 10% | 10% | 4% |
What is the most popular digital wallet?
Apple Pay is the most popular mobile payment service in the UK as of March 2023, with around 69% of those who used mobile payments in the previous year opting for this brand. It is followed quite a way behind by PayPal, which 31% of users had paid with, and Google Pay, which 27% had paid with.
| Brand | Percentage |
|---|---|
| Apple Pay | 69% |
| PayPal | 31% |
| Google Pay | 27% |
| Cash App | 13% |
| Samsung Pay | 8% |
| Revolut | 6% |
| Bitpay | 5% |
| Chase Pay | 5% |
Apple Pay statistics
As of 2020, Apple Pay had 507 million users worldwide. 69% of people who use some form of mobile payment in the UK chose to use Apple Pay for an in-person purchase in the first 3 months of 2023, up from 62% in the first 3 months of 2021.
The number of people using Apple Pay for online purchases was significantly lower, with just over a third (35%) using this digital wallet.
| Quarter | In-person Apple Pay usage | Online Apple Pay usage |
|---|---|---|
| Q1 2021 | 62% | 21% |
| Q2 2021 | 63% | 21% |
| Q3 2021 | 60% | 22% |
| Q4 2021 | 62% | 25% |
| Q1 2022 | 63% | 27% |
| Q2 2022 | 63% | 29% |
| Q3 2022 | 65% | 32% |
| Q4 2022 | 68% | 34% |
| Q1 2023 | 69% | 35% |
Google Pay statistics
As of April 2022, Google Pay had 150 million users worldwide. In the UK, 27% of mobile payment users chose Google Pay for in-person transactions in the first few months of 2023, down from 37% in the third quarter of 2021.
Meanwhile, 1 in 5 users (22%) opted to make a purchase with Google Pay online in the first quarter of 2023, up from 17% in the first quarter of 2021.
| Quarter | In-person | Online |
|---|---|---|
| Q1 2021 | 31% | 17% |
| Q2 2021 | 35% | 18% |
| Q3 2021 | 37% | 18% |
| Q4 2021 | 36% | 18% |
| Q1 2022 | 33% | 19% |
| Q2 2022 | 31% | 20% |
| Q3 2022 | 30% | 21% |
| Q4 2022 | 28% | 21% |
| Q1 2023 | 27% | 22% |
Digital wallet adoption worldwide
Interestingly, the top 10 countries for digital wallet adoption are based in Asia-Pacific and the Middle East. This is because wallets are the first booming digital payment method in these countries, and debit cards and credit cards are less common compared to Europe and North America.
| Country | Percentage |
|---|---|
| Thailand | 92% |
| India | 90% |
| Hong Kong SAR | 89% |
| Philippines | 88% |
| Malaysia | 86% |
| China | 84% |
| Indonesia | 82% |
| Saudi Arabia | 80% |
| Taiwan | 78% |
| Singapore | 78% |
Sources
- Statista
- Worldpay
- Juniper
Click here for more research. For all media enquiries, please contact
Matt Mckenna
Head of UK communications
T: +44 20 8191 8806
Head of UK communications
T: +44 20 8191 8806
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