Digital Wallet Providers Face Uphill Battle Defining the Technology

Digital Wallets Beyond Transactions: How Do Consumers Think About Digital Wallets?

Most consumers across five studied markets reported using digital wallets, but the grand majority failed to distinguish them from related platforms like banking apps. PYMNTS Intelligence latest report, “Digital Wallets Beyond Transactions: How Do Consumers Think About Digital Wallets?,” a collaboration with Google Wallet, analyzes the role of education in digital wallet adoption.

Inside the September Data Brief

86%: Share of consumers across the five studied countries — Brazil, France, Germany, the U.K. and the U.S. — who are familiar with digital wallets
68%: Share of consumers who correctly identified Google Wallet as a digital wallet
51%: Portion of consumers who wrongly identified their bank’s mobile app as a digital wallet