Digital wallets' trends in 2025
Digital wallets, as a core aspect of modern payment methods, are rapidly transforming consumer habits and lifestyles. From daily shopping to cross-border payments and the integration of emerging technologies, the widespread adoption of digital wallets not only enhances payment convenience but also accelerates the development of cashless societies and financial technology innovation.
This article delves into global trends in digital wallet usage in 2025, analyzing regional adoption disparities and the impact of technological innovations on the industry. It also talks about how Silkpay helps merchants better accept e-wallet payments.
Introduction to digital wallets
A digital wallet is a payment tool based on digital technology that securely stores users' funds, bank card information, and payment account details. Typically existing as mobile applications or online platforms, digital wallets support various payment methods such as QR code payments, NFC payments, and online transfers, enabling users to complete transactions without the need for cash or physical bank cards. Common digital wallets include Alipay, WeChat Pay, Apple Pay, and Google Pay.
Digital wallets play a vital role in modern payment systems.
Firstly, they enhance payment convenience, meeting users’ needs for quick payments in various scenarios such as online shopping, in-store purchases, and even public transportation.
Secondly, digital wallets promote the development of cashless societies by reducing the costs and risks of cash transactions. Beyond being a payment innovation, digital wallets are also a key driver of digital economic growth.
Regional adoption of e-wallets
E-wallets in Asia-Pacific region
The Asia-Pacific region, particularly China, India, and Southeast Asian countries, remains the global leader in digital wallets. By 2025, the digital wallet boom in this region will continue.
In China, ecosystems like Alipay and WeChat Pay have deeply embedded themselves into daily life. They not only meet individual payment needs but also extend to financial services such as microloans, insurance, and investments. India, with its government-backed Unified Payments Interface (UPI), is accelerating its transition to a cashless society.
Emerging markets in Southeast Asia, such as Indonesia, Vietnam, and the Philippines, are becoming key growth drivers for digital wallets as smartphone penetration and internet coverage increase. The unique economic and social structures in the Asia-Pacific make "mobile-first" financial solutions particularly important, a trend that will steadily develop in the coming years.
E-wallets in Europe and North America
By 2025, digital wallet usage in Europe and North America is expected to grow steadily but will still lag behind Asia. The adoption rates of Apple Pay and Google Pay have increased significantly, but some consumers continue to prefer traditional payment methods such as credit and debit cards. This conservative habit is mainly due to well-established banking systems and high demands for financial security.
In North America, the adoption of digital wallets is slower in the United States. However, the rise of BNPL options and e-commerce payments is driving more people toward digital wallets. In Canada, the payment market exhibits a higher willingness for fintech innovation, potentially making it an important driver of digital payment growth.
As digital wallet users grow rapidly across Europe and the Americas, Silkpay offers comprehensive payment solutions to help merchants easily accept digital wallet payments.
After integration with Silkpay, the merchants can accept multiple digital wallets such as Apple Pay, Google Pay, WeChat Pay, Alipay in-store by the PAX A920Pro POS terminal. By covering a broader range of payment users, Silkpay helps merchants optimize payment experiences and inject new momentum into business growth.
E-wallets in Africa and Latin America
Emerging markets in Africa and Latin America are showing rapid growth in digital wallet adoption. These regions often lack traditional banking infrastructure and are therefore adopting mobile-first financial solutions to address the challenge of the underbanked population. Digital wallets in these areas promote financial and mobile inclusion, fundamentally transforming lifestyles.
Technological innovations driving digital wallets
Usage of biometric technology
Biometric technology leverages unique physiological features (such as fingerprints, facial recognition, or iris patterns) or behavioral traits for identity verification. With advancements in technology, biometrics are increasingly used in digital payments. This method enhances transaction convenience and security.
According to market research, the global biometric market size is projected to grow from $43.54 billion in 2021 to $150.59 billion by 2030, with a compound annual growth rate of 14.8%. This indicates that biometric technology will continue to develop rapidly in the coming years and play an important role in digital payments.
Contactless payment technology
Contactless payment technology has seen rapid growth in recent years, becoming a mainstream trend in the global payments market. Through NFC, QR code scanning, and similar methods, customers can complete transactions efficiently without physical contact.
By 2025, contactless payment technology will be present in more scenarios. Additionally, emerging payment forms such as voice payments and in-car payments will further enrich the ecosystem of digital wallet usages.
Blockchain and cryptocurrency
Blockchain technology, with its decentralized, transparent, and tamper-proof characteristics, provides new possibilities for digital wallets. Cryptocurrencies, such as Bitcoin and Ethereum, as usages of blockchain technology are reshaping traditional payment methods. Furthermore, central banks worldwide are actively exploring and piloting Central Bank Digital Currencies to reduce transaction costs and improve financial inclusion.
By 2025, people will explore more blockchain and cryptocurrency. But the widespread adoption of cryptocurrencies still faces regulatory and technical challenges, requiring continuous innovation and policy support.
Other aspects of digital wallets
The rise of super-wallets
In recent years, "super wallets" have gained significant attention globally. While platforms like Alipay and WeChat Pay have long dominated the local market in China, similar wallets have been slower to develop in other regions. By 2025, such platforms are expected to emerge in more regions worldwide.
Super wallets are not just payment tools, they also encompass various functions such as social networking, ride-hailing, food delivery, loans and investments, allowing users to fulfill most daily needs within a single app. This one-stop service model greatly benefits consumers.
The popularity of super wallets still faces challenges, particularly in the areas of data privacy and financial regulation. For instance, strict privacy protection regulations in the EU may limit the ability of companies to build fully functional platforms. However, the global trend toward diversified services is unstoppable. Regardless of regional regulatory environments, consumer demand for efficiently integrated services is driving rapid innovation in this field.
E-commerce
By 2025, the share of digital wallets in global e-commerce transactions is expected to increase significantly, rising from just over 40% in 2021 to more than 50%. As a convenient and secure payment method, digital wallets are quickly becoming the mainstream choice for online shopping and transactions.
Meanwhile, the rise of social e-commerce is driving the widespread usage of digital wallets. Users can complete the entire process of browsing, ordering, and paying directly within social media apps, and digital wallets provide an efficient and seamless payment solution for this model.
Silkpay offers convenient solutions for e-commerce merchants, helping them accept payments of digital wallets. One particularly practical tool is PaybyLink. Merchants can send a payment link via SMS, email, or social media, and customers can click the link to select their preferred payment method and complete the transaction. This method supports various digital wallet payment options such as WeChat Pay and Alipay, making the payment process more efficient and flexible while enhancing the customer shopping experience.
Conclusion
Digital wallets are redefining the global payment ecosystem. From widespread adoption in the Asia-Pacific region to steady growth in Europe and North America and rapid expansion in emerging markets like Africa and Latin America, digital wallet usage globally demonstrates significant diversity and innovation. Technological advancements are also supporting the digital wallet’s functionality and security. Meanwhile, the rise of super wallets and the development of e-commerce further deepen the penetration of digital wallets in daily life.
In the future, as payment technologies continue to evolve and global user demands diversify, merchants who fully embrace these trends and adopt diversified digital payment solutions will gain a competitive edge and achieve substantial business growth. Silkpay will also continue to provide comprehensive payment solutions to support merchants.
About the author: Silkpay
Based in Paris, Silkpay provides omnichannel and secure payment solutions to help physical stores and e-commerce in Europe and the Americas accept more than 30 of the world's most popular payment methods: Visa, Mastercard, CB, UnionPay, Alipay+, WeChat Pay as well as Asia-Pacific’s major e-wallets.
Silkpay is a winner of the LVMH Innovation Award. The company was also selected as a finalist for the "Money 20/20" Best Startup and in the "MPE Berlin” Startup Awards. Silkpay also won the "Best Fintech" awards from Capgemini and BPCE.
Silkpay helps merchants deliver the smoothest payment experience to their customers. We are a talented and international team driven by a single goal: to improve the customer experience and make payments simple and secure.
Source
https://fintechmagazine.com/articles/digital-wallets-set-to-revolutionise-global-finance-by-2025