Digital Wallets

Digital Wallets: Key Opportunities, Vendor Analysis and Market Forecasts 2021-2025

Juniper Research’s latest Digital Wallets research provides an exhaustive analysis to this rapidly changing and highly important market. The research highlights current developments in the digital wallets space and how this has been drastically influenced by the impact of pandemic, which has led to changes in customer attitudes. It also provides valuable insights into vendors’ digital wallets strategy and a fine-grained analysis of the current competitive landscape, supported by interviews with key vendors in the field.
The suite also includes industry benchmark forecasts for digital wallet user numbers and purchases (volume and value), split by device type (handset or desktop/laptop), transaction type and (for in-store payments) by wallet technology.

This research suite includes:
  • Deep Dive Strategy & Competition (PDF)
  • 5-Year Deep Dive Data & Forecasting (PDF & Excel)
  • Executive Summary & Core Findings (PDF)
  • 12 months' access to harvest online data platform


Key Features

  • Digital Wallets Trends Analysis: Detailed analysis of each digital wallets segment, coupled with insights on market trends, challenges and our future outlook for the market. This analysis focuses on:
    • Market trends shaping digital wallets, including the impact of the pandemic.
    • Current size and anticipated evolution of the digital wallets market.
    • The adoption and future trajectory of QR code and contactless technologies in payments.
    • The rise of super apps and what this means for wallets.
  • Juniper Research Leaderboard: 22 leading digital wallets vendors compared, scored and positioned on the Juniper Research Leaderboard, including:
    • Alipay
    • Amazon Pay
    • Apple Pay
    • Du Xiaoman Pay
    • Fitbit Pay
    • Garmin Pay
    • Google Pay
    • Huawei Pay
    • LINE Pay
    • Masterpass
    • Mi Pay
    • M-PESA
    • MTN Mobile Money
    • Orange Money
    • PayPal
    • Paytm
    • Rakuten Pay
    • Samsung Pay
    • Skrill
    • Visa Checkout
    • WeChat Pay
    • Yandex.Money
  • Interviews: Three leading digital wallets stakeholders interviewed, including:
    • Boku
    • G+D
    • Paysafe
  • Benchmark Industry Forecasts: Including forecasts for digital wallet users, transaction volumes and transaction values, split by region, transaction type and for in-store payments by QR codes and NFC. All forecasts are split by the following 19 countries, creating an extensive resource for stakeholders:
    • Australia
    • Brazil
    • Canada
    • China
    • Denmark
    • France
    • Germany
    • India
    • Japan
    • Mexico
    • Netherlands
    • Norway
    • Portugal
    • Saudi Arabia
    • South Korea
    • Spain
    • Sweden
    • UK
    • US

Key Questions

  1. Who are the most successful players in the digital wallet space, and why?
  2. What are the prospects for QR code-based wallets and how do these compare to contactless ones?
  3. How can wallet providers maximise their future opportunities?
  4. What is the value of the digital wallet market today, and what will it be in 2025?
  5. What factors will spur digital wallet adoption growth, both nationally and internationally?

Companies Referenced

Interviewed: Boku, G+D, Paysafe Group.
Case Studied: GO-JEK.
Included in Juniper Research Leaderboard: Alipay, Amazon Pay, Apple Pay, Du Xiaoman Pay, Fitbit Pay, Garmin Pay, Google Pay, Huawei Pay, LINE Pay, Masterpass, Mi Pay, M-Pesa , MTN Mobile Money, Orange Money, PayPal, Paytm, Rakuten Pay, Samsung Pay, Skrill, Visa Checkout, WeChat Pay, Yandex.Money.
Mentioned: Activision Blizzard, Airtel, Alibaba, AliFinance, American Express, Ant Group, ANZ, Baidu, Baifubao, Banco Santander, Bank of America, Bonga, British Airways, Capital One, Chevron, China Europe International Business School , China Postal, Coin, Delhi College of Engineering, Economic Strategy Committee of Singapore, Economist, Facebook, Fillr, Grab, Harvard Business School, Hitotsubashi University, HSBC, iDEAL, Inter Solutions Software Private Limited, Kakao Pay, KBC Bank Ireland, Lancaster University, Mastercard, McKinsey & Company, Mercado Pago, Mizuho Corporate Bank, MobiKwik, Naver, NETELLER, Newegg, OCBC Bank, Oxford University, Páramo, Payoneer, PhonePe, PlayStation Network, Riverrun Software Services Group Limited, Royal Bank of Canada, Russian Standard Bank, Safaricom, Sberbank, SG QR, Shenzhen Zhixin New Information Technology Co, Ltd, Singtel’s Group Digital Life, Square Cash, Starbucks, Startec Global Communications Limited, STC Pay, Steam, Telma, Tencent, Ticketmaster, Total Kenya Ltd, Uchumi, UnionPay, University of Nairobi , UOB, US Bank, Venmo, Vodafone, Walmart, Weixin Pay, Western Union, Yolt, York University, Zapper, Zelle, Zwupp!

Data & Interactive Forecast

Juniper Research’s Digital Wallets forecast suite includes:
  • Digital wallet user numbers, average usage levels, total transaction volumes, average transaction price and total transaction value.
  • Data split by two transaction modes (mobile and desktop/laptop) and by eight transaction types:
    • In-store, NFC
    • In-store, QR Code
    • Online, Physical Goods Purchases
    • Online, Digital Goods Purchases
    • Domestic Money Transfers
    • International Money Transfers
    • Ticketing
    • Utility Bill Payment
  • 5-year benchmark forecasts for key metrics by 8 key regions and 19 country-level splits including:
    • Australia
    • Brazil
    • Canada
    • China
    • Denmark
    • France
    • Germany
    • India
    • Japan
    • Mexico
    • Netherlands
    • Norway
    • Portugal
    • Saudi Arabia
    • South Korea
    • Spain
    • Sweden
    • UK
    • US
  • Access to the full set of forecast data of 139 tables and over 26,000 datapoints.
  • Interactive Excel Scenario tool allowing the user the ability to manipulate Juniper Research’s data for 10 different metrics.
Juniper Research’s highly granular IFxls (Interactive Excels) enable clients to manipulate Juniper Research’s forecast data and charts to test their own assumptions using the Interactive Scenario Tool, and compare select markets side by side in customised charts and tables. IFxls greatly increase clients’ ability to both understand a particular market and to integrate their own views into the model.

Digital Wallets Full Research Suite


Full Research Suite

Digital Wallets full research suite comprises:

  • Digital Wallets Executive Summary PDF Report
  • Digital Wallets Deep Dive Strategy & Competition PDF Report
  • Digital Wallets Deep Dive Data & Forecasting PDF Report
  • Digital Wallets Interactive Forecast Excel Data
  • Quarterly PDF Report & Excel Data Updates
  • 12 months' access to Digital Wallets data updates in harvest - find out more

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Digital Wallets FAQs

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Research Details

Juniper Research
Nick Maynard, Alexandria Sadler
Fintech & Payments
8 Key Regions - includes North America, Latin America, West Europe, Central & East Europe, Far East & China, Indian Subcontinent, Rest of Asia Pacific and Africa & Middle East
Australia, Brazil, Canada, China, Denmark, France, Germany, India, Japan, South Korea, Mexico, Netherlands, Norway, Portugal, Saudi Arabia, Spain, Sweden, UK, USA