According to a recently published study by Merchant Machine, mobile wallets are predicted to have 4.4 billion users by 2024.
Merchant Machine’s findings show the global pandemic propelled the popularity of digital wallets and researchers expect the numbers to grow from 44.50% of the population in 2020 to 51.70% by 2024.The use of mobile wallets has grown a great deal since the start of the Covid-19 pandemic and apublished by Merchant Machine predicts growth will continue.
The top mobile wallet used worldwide today is Alipay with 650 million users and the second most popular is Wechat with 550 million users in 2022. Alipay and Wechat were followed by Apple Pay , Google Pay , and Paypal . While credit cards, debit cards, bank transfers, and cash on delivery all dropped in use, buy now, pay later schemes increased alongside mobile wallet popularity.
China Takes the Top Position in Terms of Adoption, Gartner Expects 20% of Enterprises to Use Digital Currencies by 2024
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