Growth of Digital Wallets and Contactless Payments Set to Explode

Source: The Financial Brand

Like other digital aspects of financial services, the use of digital wallets has expanded during the pandemic.

A new study from Juniper Research has found that total spend through digital wallets will exceed $10 trillion in 2025, up from $5.5 trillion in 2020. The research found that this dramatic 83% growth in spend will largely be fueled by the heightened adoption of digital payments during the pandemic.