Mobile wallet adoption, by country 2023

Mobile wallet penetration in 2023was much higher in Asia than in Europe, with countries like India and Indonesia significantly outranking a country like Sweden. This is according to consumer survey results from early 2023. It reveals that the market size of mobile wallets is much higher in emerging countries than in North America or Europe, as wallets are often the first digital payment method to gain widespread acceptance in Asia or the Middle East. Mobile wallets in Europe and North America compete against existing digital payment systems such as credit cards or debit cards.

POS vs. e-commerce

Are wallets preferred in physical stores or in online shopping? By and large, digital wallets are used more regularly online than offline. Asia leads here too, with nearly 70 percent of e-commerce transaction value in the region being handled by wallets. Wallets accounted for roughly half of global e-commerce transaction value in 2023, which is forecast to increase to 61 percent by 2027.

Future growth

The United States is expected to see an increase in the use of wallets, with card-linked wallets reaching a Compound Annual Growth Rate (CAGR) of 10.5 percent. This was lower than forecasts made for countries in Southeast Asia, however, with the predicted number of digital wallet users in Indonesia being a particular stand-out. This is attributed to the growth of so-called "super apps" in Asia - apps that combine multiple functionalities such as taxi services, online shopping, food delivery, and payment services. Notable brands for Indonesia are Ovo and ShopeePay.

Share of respondents who indicated they both have a mobile wallet and used in the past year, in different countries and territories in the world in 2023

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Source

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Release date

April 2024

More information

Region

Argentina, Australia, Belgium, Brazil, Canada, Chile, China, Taiwan, Colombia, Denmark, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Italy, Japan, South Korea, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Saudi Arabia, Singapore, South Africa, Spain, Sweden, Thailand, United Arab Emirates, Turkey, United Kingdom, United States

Survey time period

Q1 and Q2 2023

Number of respondents

49,751 respondents

Age group

18 years and older

Special properties

Adult consumers

Method of interview

Questionnaire

Supplementary notes

The source does not provide information on the original wording used during the survey. Thus, the wording chosen for this statistic may differ slightly from the one in the survey.

The results have been weighted to represent the entire population.

The source does not provide any information regarding the age of the respondents. It states "15 years and older", but this referred to other questions asked in a different survey.

The source adds several other countries, but this survey question was not asked there. These countries include: Austria, Bahrain, Croatia, Czechia, Egypt, Greece, Hungary, Kenya, Oman, Pakistan, Portugal, Sri Lanka, and Switzerland.

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