Digital wallets are becoming a popular choice in the UK and around the world, with many of us choosing to pay from our bank accounts using Apple Pay or Google Pay rather than a debit card. We look at digital wallet usage in the UK and globally, as well as the market size compared to other payment methods.
Digital wallet usage statistics: Highlights
There were 4.3 billion global digital wallet users in 2024 – 53% of the population.
Two-thirds (68%) of the global population is predicted to be using digital wallets by 2029.
More than half (53%) of online transactions worldwide were made with a mobile wallet in 2024.
2 in 5 online purchases in the UK (40%) were made using a digital wallet in 2024 and this is predicted to rise to 68% by 2030.
Apple Pay is the most popular mobile payment service in the UK as of June 2024.
Apple Pay has at least 507 million users worldwide according to the latest reported figures.
Google Pay has at least 150 million users worldwide according to the latest reported figures.
Almost half of Brits (45%) leave the house with only their phone as a payment method.
How many digital wallets are there?
In 2024, there were 4.3 billion digital wallet users globally, which is more than half (53%) of the population. It’s estimated that more than two-thirds (68%) of the global population will use digital wallets by 2029 – an estimated 5.8 billion people.
Digital wallet market share
In 2024, more than half (53%) of e-commerce transactions worldwide were made with a mobile wallet, making it the most popular online payment method. This market share is set to increase, as projections suggest that 65% of e-commerce payments will be made via digital wallets by 2030.
Undoubtedly, digital wallets are becoming a payment method of choice for many of us. With so much of our lives stored in our phones already, it’s easy to pay with mobile too!
2 in 5 online purchases in the UK (40%) were made using a digital wallet in 2024, a significant increase from just a quarter of online purchases (25%) in 2016. This share of digital wallet online payments is predicted to rise to 3 in 5 (68%) by 2030.
What is the most popular digital wallet?
Apple Pay is the most popular digital wallet in the UK, with more than three-fifths of consumers (63%) using it as of December 2024. Google Pay was second with 37% of UK consumers, closely followed by PayPal in third place, used by 36% of Brits.
Apple Pay had 507 million users worldwide according to the most recent report in 2020, and the number has likely grown since. 63% of UK residents who use some form of mobile payment chose to use Apple Pay for an in-person purchase as of December 2024, while two-fifths (39%) used Apple Pay for online purchases.
Google Pay had 150 million users worldwide according to the most recent report in April 2022, and the number has likely grown since. In the UK, 37% of mobile payment users chose Google Pay for in-person transactions as of December 2024. Meanwhile, 32% opted to make an online purchase with Google Pay.
Globally, the value of transactions made using digital wallets is predicted to be approximately £7.6 trillion ($10 trillion) in 2024. By 2029, this is expected to grow a further 73%, with the value of transactions on mobile wallets reaching £12.9 trillion ($17 trillion).
The growth of digital wallets in the UK
Research by Finder has revealed that 45% of Brits aged 16 and over leave the house with only their phone as a payment method at least some of the time, which is estimated to be around 25 million people.
A quarter of Brits (25%) only leave the house without another way of paying occasionally, such as when they’re popping to the local shop. However, 1 in 5 (20%) admit to leaving their wallet behind frequently or all the time, with physical wallets becoming less necessary as digital wallets become more common.
There are clear differences across the generations, with almost three-quarters of generation Z (72%) and two-thirds of millennials (66%) opting for phone-only payments when leaving the house.
Meanwhile, only 1 in 4 baby boomers (23%) and 1 in 10 silent generation members (11%) admitted that they would be comfortable leaving the house with only a phone as a payment method, even if it was just for a short period of time.
Our 2024 survey found that 1 in 5 Brits (21%) regularly use a digital wallet on their phone to pay for items in person. This is more common among the younger generations, with a third of millennials and generation Z (aged 16-42) regularly using mobile payments.
Sophie Barber is a content marketing manager for Finder in the UK. She has over 5 years experience in writing and publishing clear, concise and informative articles that help consumers make informed decisions. See full bio
Sophie's expertise
Sophie has written 95 Finder guides across topics including:
Matthew Boyle is a banking and mortgages publisher at Finder. He has a 7-year history of publishing helpful guides to assist consumers in making better decisions. In his spare time, you will find him walking in the Norfolk countryside admiring the local wildlife. See full bio
Matthew's expertise
Matthew has written 278 Finder guides across topics including:
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