Regional Wallets Challenge Global Giants in Digital Payments

Mobile wallets now power more than one-third of online payments and 21% of in-store transactions across 11 countries, accounting for half of the global gross domestic product (GDP).

What’s striking is that they are not changing the underlying funding sources — credit and debit cards and bank accounts — that consumers use to make payments. While mobile wallets are gaining traction across all generations, with Generation Z leading the way, adoption patterns in specific countries remain highly localized.

In “Pocket Revolution: How Mobile Wallets Are Changing Payments Worldwide,” PYMNTS Intelligence’s latest installment in its “How the World Does Digital” series, we surveyed 216,679 consumers across 11 countries over 12 time periods to uncover how different regions are adopting global wallets.

Inside “Pocket Revolution: How Mobile Wallets Are Changing Payments Worldwide”:

Local wallets are driving adoption as global wallets expand. While PayPal remains a major player in the digital wallet space, global competitors like Apple Pay and Google Wallet, along with local solutions like Pix and iDEAL, are gaining ground, demonstrating how tailored, local and mobile-first experiences can reshape the competitive landscape.

Mobile wallet adoption is shaped by local behaviors and trusted substitutes, not just infrastructure. In Japan, super apps like Line Pay, combined with the widespread use of QR codes, have made wallets a natural replacement for cash and cards, accounting for 35% of in-store usage. In the Netherlands, the shift from traditional bank transfers to mobile versions, such as iDEAL, signals how familiar substitutes can unlock new growth beyond early adopter markets.

Gen Z shows the strongest momentum, with a 23% increase in mobile wallet usage for in-store transactions since 2022. But growth is also evident among millennials, Generation X and baby boomers, confirming that mobile-first payments are transitioning from a youth trend to a cross-generational behavior shift.

Download “How the World Does Digital” to learn more about global usage of mobile wallets.