The number of transactions made using digital wallets is projected to be $5.8 billion in 2021. This is no surprise, as the COVID-19 pandemic led to an increase in contactless payments and advancements in digital wallet technology. As consumers moved to a contactless and cashless world faster than ever in the past two years or so, the popularity of digital wallets has exploded with no signs of slowing down.
Recent buying behaviors of consumers and companies alike have proven that the ease, convenience, and safety of contactless payments will continue to drive the popularity of digital wallets, especially as the features behind e-wallets evolve. I believe there will be less and less resistance to this technology as users become less skeptical of it, and because sometimes it's the only form of payment accepted!