Wearables security
What’s next for digital wallets?
Karine Martinez, head of sales at PPS is passionate about innovation, disruption and payments. Here, she looks at how the digital wallet is evolving in terms of both software and hardware.
D 40 | May 2023
igital wallets as a form of payment can be traced as far back as 1997 when Coca Cola launched a small
number of vending machines in Helsinki that let customers buy a drink via text message. E-wallets have since come a long way; by 2003, around 95 million mobile phone users had used the device to make a purchase, long before Google became the first major company to launch a mobile wallet in 2011. Since then, digital wallet use has been
on a steady upward trajectory, with the total number of digital wallet users set to exceed 5.2 billion globally in 2026, up from 3.4 billion in 2022. But what are the innovations that will drive this growth?
The rise of the super wallet As the payments landscape evolves, a single-function app approach already feels outdated. Instead, adding on financial offerings that go beyond facilitating payments such as loans, insurance, investing, and digital banking, will come to be expected. Te result will be more financial super
apps, or super wallets: each a connected ecosystem where users can manage payments, savings, investments, crypto, budgets, loans, insurance, and more, all in one place. As one of the fastest growing payment
methods, particularly in Europe and the UK, Buy Now Pay Later (BNPL) is sure
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