Digital Wallets

Digital Wallets: Service Provider Analysis, Market Opportunities & Forecasts 2019-2024

This Digital Wallet report provides the most comprehensive analysis of the digital wallet market space to date; enabling industry stakeholders to understand the implications of disruptive trends, ranging from market deregulation to the emergence of integrated wallet offerings. It provides a comparative, heatmap-based assessment of the products and services offered by 22 leading international wallets; gauging their respective opportunities in the short and medium term, together with a matrix delineating the comparative maturity of 14 national wallets.

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 digital wallet research suite includes:
  • Deep Dive Strategy & Competition (PDF)
  • Deep Dive Data & Forecasting (PDF & Excel)
  • Executive Summary & Core Findings (PDF)


Key Features

  • Strategic Analysis: For major digital wallet trends and key debates in the mobile wallet ecosystem, including:
    • Cross-border interoperability
    • Accelerated deployment of ‘Wearable Pay’ services
    • The evolving role of card issuers
  • Juniper Research Leaderboard: Key player capability and capacity assessment, together with Leaderboard vendor positioning for 22 digital wallet providers and player profiling.
  • National Wallet Innovation Index: Assessment of 14 national wallet providers; comparing the breadth of depth of their respective offerings, the extent of their banking partnerships and their active user bases.
  • Benchmark Industry Forecasts: Including forecasts for digital wallet users, transaction volumes and transaction values, split by country, region, transaction type and for in-store payments by QR codes and NFC.

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?
  3. How can the leading wallet providers maximise their future opportunities?
  4. What is the value of the digital wallet market today, and what will it be in 2024?
  5. What factors will spur digital wallet adoption growth, both nationally and internationally?

Companies Referenced

Interviewed: Singtel, Skrill.
Profiled: Alipay, Amazon Pay, Apple Pay, Du Xiaoman Pay, Fitbit Pay, Garmin Pay, Google Pay, Huawei Pay, LINE Pay, Masterpass, MTN Mobile Money, Orange Money, PayPal, Paytm, Rakuten Pay, Samsung Pay, Skrill, Visa Checkout, Vodafone M-PESA, WeChat Pay, Xiaomi Pay, Yandex.Money.
Case Studied: Bill & Melinda Gates Foundation, Microsoft, Singtel.
Included in National Wallet Innovation Index: Bizum, BKM Express, Boost, Dash, Kakao Pay, MobilePay, Paylib, Paytm, Rakuten, Recargapay, Swish, TWINT, Vipps, Yandex.Money.
Mentioned: Accenture, Activision Blizzard, Adyen, AIS GLOBAL, Alphabet, American Express, Ant Financial, ANZ, Axiata Digital, BA, Baidu, Banco Santander, Bank of America, Barclaycard, Barclays, BBVA, Best Buy, Bharti Airtel, Blackstone, Braintree, Capital One, Cathay Pacific, CBA, Chase, Chronos, Citcon, Citi, Citilink, Coin, Coinbase, Comviva, CVC, DFS Lab, Digital Retex, Discover, Disney, eBay, EcoBank, EMVCo, ePassi, Ericsson, Euroset, Eventbrite, Facebook, FANS Entertainment, Fifth Third Bank, Fundamo, Future Shop, Gemalto, Giesecke + Devrient, Globe, Goldman Sachs, Grameenphone, HSBC, Huawei, ICICI Bank, iFlytek, Ingenico, Inside Secure, iPaymu, Isbank, ISO (International Organization for Standardization), iZettle, JCB, Jumo, Kasikornbank, KBC Bank Ireland, Key Bank, KRPartners, Lloyds, Maestro, MediaTek, Merpay, Moven, myCFO, Naver, NBA (National Basketball Association), NETELLER, Nielsen, Nike, Nordstrom, NPCI (National Payments Corporation of India), NTT DoCoMo, OCBC Bank, One97 Communications, oneworld Alliance, PayMa, PaySafe, PBOC, PrestaShop, RBI, RBS, Revolut, Ria, Royal Bank of Canada, Safaricom, SAFE (State Administration of Foreign Exchange), SafeCharge, Saks, Sberbank, Schlumberger, Shopify, SK Telecom, Skype, SoftBank, Staples, Starbucks, Steam, StubHub, Svyaznoy, Swift Financial, Swych, Target, Telecom Sud, Telepin, Telkomsel, Telma, Tencent, Thomas Cook, Ticketmaster, TIO Networks, Travelex, UnionPay, UOB (United Overseas Bank), US Bank, Venmo, Vodacom, VTB Bank, Walmart, Wells Fargo, Western Union, Wirecard, World Duty Free, Xoom, YouTube.

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 8 key regions and 12 national markets (Canada, China, Denmark, Germany, Japan, Kenya, Norway, Portugal, Spain, Sweden, UK and US), as well as by 2 transaction modes (handset and desktop/laptop) and by 8 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
  • Interactive Scenario Tool allowing users to manipulate Juniper’s data for 5 different metrics.
  • Access to the full set of forecast data of 96 tables and over 12,000 datapoints.
Juniper Research’s highly granular IFxls (Interactive Forecast Excels) enable clients to manipulate Juniper’s forecast data and charts to test their own assumptions by using the Interactive Scenario Tool and compare select markets and sectors 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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Research Details

Juniper Research
Windsor Holden
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
Canada, China, Denmark, Germany, Japan, Kenya, Norway, Portugal, Spain, Sweden, UK, USA