Digital Wallets set to dominate global payments by 2030, study shows

By Puja Sharma

Digital Wallet users to surpass three quarters of the global population by 2030 over 6 billion users projected in 2030

A new study by global tech strategists Juniper Research has revealed that the number of digital wallet users worldwide will increase by 35% over the next five years, rising from 4.4 billion in 2025. The research found that in this increasingly saturated market, offering value-added features, including Buy Now, Pay Later (BNPL), virtual cards, and digital identity, is vital to creating differentiation.

Digital Wallets Set to Dominate Global Payments by 2030

Digital wallets are on track to become the dominant mode of payment worldwide, with the number of users expected to exceed 6 billion by 2030, representing more than three-quarters of the global population, according to new research by Juniper Research. The study predicts a 35% surge in users between 2025 and 2030, underscoring the rapid acceleration of digital payments across both mature and emerging markets.

The report highlights that as the global market becomes increasingly saturated, differentiation will hinge on value-added services rather than basic functionality. Features such as Buy Now, Pay Later (BNPL) options, virtual cards, and digital identity integration are set to play a crucial role in attracting and retaining users. Digital wallet providers, the study notes, will need to deliver flexible platforms that can accommodate multiple wallet types — from stored-value and staged wallets to cryptocurrency-based options — while supporting diverse payment methods including cards and Account-to-Account (A2A) transfers.

Another major driver of wallet adoption is loyalty and rewards programs, which have emerged as powerful incentives in competitive markets. These programs — offering cashback, points, or exclusive deals — are not only influencing consumer preference but also providing merchants with tangible benefits such as increased customer spending and reduced transaction fees.

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

In developed economies, where card penetration and digital payment adoption are already high, the addition of gamified experiences, personalised offers, and superapp functionalities could become the key to retaining user engagement. Meanwhile, in emerging markets, the growth opportunity lies in targeting underbanked and unbanked populations.

Juniper’s analysis points out that mobile money services are evolving to offer banking-like capabilities such as savings, credit, and insurance. For digital wallet providers to remain competitive in these markets, they must expand their offerings beyond simple transaction services. Platforms that fail to evolve, the report cautions, risk losing relevance to mainstream financial institutions that are quickly integrating digital wallet-like features into their mobile banking apps.

The research also underlines the growing importance of interoperability and cross-border usability. As global commerce and travel rebound, users increasingly expect wallets that work seamlessly across countries, currencies, and regulatory environments. Providers capable of delivering that level of integration will gain a significant edge in the next growth cycle.

Juniper’s new report, which it describes as its most comprehensive digital wallet market assessment to date, covers over 60 countries and provides more than 85,000 market data points spanning a five-year forecast period. It offers insights into regional growth patterns, adoption barriers, and the evolving role of digital wallets in financial inclusion and global payments innovation.

With convenience, flexibility, and innovation driving adoption, digital wallets are poised to become the default financial interface for billions, redefining how people store, spend, and manage money worldwide.