Digital wallet Trends & Statistics
Block gets FDIC approval to lend directly to Cash App consumers
The service advances Block’s goal of “banking our base” and could drive Cash App adoption.
Tossing CFPB’s digital wallet rule would be a win for payment apps
The rule would require larger payment apps to be regulated like banks. Ending this rule would be a win for Apple Pay and Google Wallet
Amex partners with Alipay to grow merchant acceptance in China
The tie-up comes two years after Visa, Mastercard, and Discover began working with the firm
Alipay’s international push paid off during Chinese New Year
The wallet has pushed to capture more payment volume from inbound travelers to China and Chinese travelers abroad
X Money’s Visa partnership will bring real-time speed and added trust to the P2P platform
Working with Visa will bring the future P2P platform added trust and security—as well as real-time payment capabilities
Pay with Venmo comes to JetBlue in bid for younger travelers
The tie-up can help attract younger travelers and aids in Venmo’s monetization journey
Tech industry groups sue CFPB over digital wallet rule—here’s why the rule’s future is so uncertain
The rule, which regulates payment apps like banks, is already on shaky ground given the CFPB is about to be overhauled under Trump
Here’s how Cash App’s CFPB fine and enforcement action can benefit the P2P provider
The enforcement action provides closure that could help boost the P2P app’s customer satisfaction in the long run
We made 5 payment predictions for 2024—here’s how they turned out
We may have been a little too early with some of our predictions—rollouts for Paze and FedNow took longer than we expected
Consumers’ password fatigue adds to retailers’ cart abandonment problems
Digital wallets are solving this with passwordless checkout, which will likely become the industry norm
Apple Pay gets its first real iPhone wallet competitor
The Vipps wallet in Norway is the first to use Apple’s NFC tech, opening the floodgates for more to deploy the tech.
Shop Pay’s Cyber 5 performance highlights growth momentum
The buy button has been on a growth tear since Shopify opened it up to enterprise customers outside of its ecosystem
Consumers aren’t using digital wallets’ non-payment features
Despite Google Wallet and Apple Wallet’s investments in travel and ID features, adoption has been tepid
EPI’s wero comes to Belgium as slow rollout continues
The mobile wallet’s scaled-back rollout has been slow. But wero should be able to overcome that thanks to its transformative nature
CFPB will regulate payment apps like banks
Big Tech will likely challenge the rule in court. Trump’s second term could also make the rule short-lived
Google Pay’s feature innovation can help it steal share from Apple Pay
They can help Google steal some market share from Apple as it opens up its NFC tech.
The CFPB wants to monitor Google like a bank as lines blur between Big Tech and finance
The CFPB is trying to supervise large payment apps as the lines between Big Tech and payments blur. But it’s unclear how Trump will shake up the agency
The Mobile Wallet Payments Opportunity
US retail sales via mobile wallets are growing much faster than overall sales. To meet this demand, wallet providers must address consumer expectations and solve growth hurdles.
PayPal rolls out Pool Money feature to increase app engagement
The wallet is pushing new features to help increase app engagement and maintain customer loyalty
Brazil’s Pix gets contactless payment makeover
The capability should help boost Pix’s in-store volume, serving as a roadmap for the US’s FedNow to boost retail adoption
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