Digital Wallets will dominate Global Ecommerce Payments by 2025…

One in three eCommerce payments will be via wallet in the U.S. as Americans and others catch up to Asia-Pacific users.

Cash still isn't dead at point of sale, but by 2025 its influence will be microscopic globally.

By 2025 digital wallet use will account for just over half (52.5%) of eCommerce transaction value worldwide, versus 48.6% in 2021, according to the FIS Global Payments Report.

At the physical point of sale, the report states, digital wallet use will rise to nearly 39%, an increase of about ten percentage points from 2021 levels.

That growth reflects increasing and maturing usage in markets where digital wallets dominate the payments mix — notably the Asia-Pacific region — as well as increasing levels of wallet usage in other markets, including the United States.

In Europe, digital wallets have become the leading eCommerce payment channel, representing about 25% of Europe’s transaction value in 2021 in that space.

Click here to read the full The Financial Brand article