Published November 10, 2025

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Juniper Research forecasts a major shift in the global payments landscape.

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The number of people using digital wallets worldwide is projected to surpass six billion by 2030.

The Digital Wallets Market 2025–2030 study from Juniper Research anticipates a 35% increase in global adoption between 2025 and 2030, with users rising from 4.4 billion to over six billion — meaning that more than three-quarters of the world’s population will be using some form of digital wallet by the end of the decade.

According to the research, this acceleration reflects both the ubiquity of smartphones and the rapid integration of digital payment options into everyday life. Digital wallets have become central to how people pay for goods, transfer funds, and access credit, especially in regions where traditional banking services are limited.

Thomas Wilson, Research Analyst at Juniper Research, explained, “Changing user behaviour such as card usage, particularly when it is long-established, means providing incentives. As the digital wallets space becomes increasingly saturated, differentiation using rewards and other capabilities, such as gamification or superapp features, will be vital to success.”

Value-added features

Juniper’s research highlights that as the market becomes increasingly saturated, digital wallet providers must differentiate by offering advanced features. Services such as Buy Now, Pay Later (BNPL), virtual cards, and digital identity solutions are expected to become crucial in attracting and retaining users.

The report suggests that platforms offering integrated flexibility across multiple wallet types — such as stored-value, staged, and cryptocurrency wallets — and across various payment mechanisms, including account-to-account (A2A) transfers and traditional cards, will be best positioned for growth.

These capabilities are increasingly important as technology companies, telecoms, and financial institutions compete to be consumers’ primary payment interface.

Reward schemes drive user loyalty

A major driver of wallet adoption, especially in mature markets, is the implementation of loyalty and rewards schemes. Cashback offers, reward points, and exclusive deals are proving effective in encouraging consumers to choose one digital wallet over another.

These features are also beneficial to merchants, as digital wallet payments typically carry lower transaction costs and can increase customer spending frequency.

Financial inclusion and emerging markets

While established economies will compete on convenience and rewards, the report stresses that growth in emerging markets will depend on addressing financial exclusion. Many digital wallets are evolving to offer banking-like services to the underbanked, such as bill payments, remittances, and access to microloans.

If traditional banks and fintechs continue to expand into this segment, Juniper warns, wallet providers must advance beyond basic payment functionality to maintain relevance. This shift represents a crucial moment for digital financial inclusion, especially in Africa, South Asia, and Latin America, where mobile money services have become lifelines for millions without formal bank accounts.

Broader market implications

The findings underscore a fundamental transformation in how money moves globally. With six billion users expected by 2030, digital wallets are poised to overtake cash and even cards as the default method of payment in many regions.

For regulators, this expansion presents both opportunity and challenge: ensuring consumer protection, privacy, and security while promoting innovation. For businesses, it means rethinking customer engagement strategies as payments become deeply embedded into apps, social networks, and e-commerce ecosystems.

Market analysis

Juniper Research’s Digital Wallets Market 2025–2030 suite includes forecasts for more than 60 countries and over 85,000 data points, offering insights into transaction volumes, adoption rates, and use cases across mobile and online platforms.

The full report explores the impact of open banking, near-field communication (NFC), and QR code payments, as well as the evolving role of superapps in markets such as China and Southeast Asia. It also benchmarks the competitive positioning of 18 major wallet providers globally.

The study concludes that as the digital wallet ecosystem matures, innovation will hinge on user experience, trust, and ecosystem partnerships — shaping not just the payments industry but the broader financial infrastructure of the future.

The UK’s Treasury has formally asked the Financial Services Skills Commission to conduct a sweeping review of how AI and other emerging technologies are reshaping the financial services workforce.

TechRepublic Staff