The Ascent of Digital Wallets

Digital Wallets Used More by High Earners, BNPL More by Middle Class 

New research on payments preferences finds high earners using digital wallets to make more of their retail purchases, with PayPal the most preferred option, and middle income consumers increasing their use of BNPL. “Digital Economy Payments: The Ascent of Digital Wallets” dives into who is using this payment method and where.
Inside the February Report
  • 2.8%: Share of online retail purchases completed with buy now, pay later as of Q4 2022
  • 12%: Share of groceries consumers purchased online as of Q4 2022
  • 1.9%: Share of in-store retail purchases completed with Apple Pay as of Q4 2022

PYMNTS Digital Economy Payments Report Series

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