Search Juniper Research

Cart

There are currently no items in your cart.

Which Countries Are Leading Digital Wallet Adoption in 2024?

Monday, 30 September 2024
Fintech & Payments
Michael Greenwood
Principal Analyst

Our latest data shows that the number of digital wallet users worldwide will rise from 4.3 billion in 2024 to 5.8 billion by 2029; a 35% increase over the next five years. This growth is driven by the expanding range of use cases that digital wallets serve, like online shopping, peer-to-peer transfers, and bill payments, which are making them more appealing to consumers. Far East & China is expected to lead this trend, reaching around 1.6 billion users by 2029, showing just how well-integrated digital wallets have become in everyday financial activities in these markets.

We also anticipate significant growth in Africa & the Middle East, where the number of users will jump from 605 million in 2024 to over 950 million by 2029. While no countries from this region are featured in the above infographic, it still ranks as the third-largest market for digital wallets, following Far East & China and Indian Subcontinent.

Mobile money solutions are a big part of this growth, especially given the cash-based nature of many economies in the region. By using agent networks, mobile money providers enable people to convert cash into digital currency, allowing them to transact digitally without needing a bank account. Since the cost of opening a bank account is relatively high, many people in this region remain unbanked, leading them to choose financial services that don't require traditional banking. As digital wallets continue to bridge these gaps, their role in transforming global payment habits is becoming increasingly undeniable.

Source: Global Digital Wallets Market 2024-2029

Download the Whitepaper: Why 5.6 Billion People Will Adopt Digital Wallets

Get the related whitepaper

Whitepaper
November 2025
Fintech & Payments

Digital Wallets: Empowering Financial Inclusivity

Our complimentary whitepaper, Digital Wallets: Empowering Financial Inclusivity, examines the state of the digital wallets market; considering the impact of digital wallets on different geographies, how they are shaping the modern payments landscape through lower transaction fees and promoting financial inclusivity for underbanked populations, and how they are competing with established payment methods.

VIEW WHITEPAPER

Get the related research

Cover Image
Report
November 2025
Fintech & Payments

Digital Wallets Market 2025-2030

Our digital wallets research suite provides detailed analysis of this rapidly changing market; allowing digital wallet providers to gain an understanding of key payment trends and challenges, potential growth opportunities, and the competitive environment.

VIEW RESEARCH

Latest research, whitepapers & press releases

Visit research store