PAYMENTS
These innovations are not just about improving existing functionalities ; they ’ re about reimagining what a digital wallet can do and how it can integrate more seamlessly into our daily lives .
Apple ’ s introduction of Tap-to-Pay as part of iOS18 is just the tip of the iceberg . This feature allows iPhones to function as payment terminals , enabling small businesses to accept contactless payments without additional hardware . Biometric authentication is likely to become standard , with facial recognition and fingerprint scanning providing enhanced security . Some digital wallets are already experimenting with voiceactivated payments and augmented reality interfaces for a more immersive shopping experience .
Nicholas Holt of Marqeta says : “ When the credit card was established about 70 years ago , it was a groundbreaking development . However , innovation stalled for many years , with static reward structures , such as 1.5 % cash back .
“ However , now , we are seeing dynamic rewards being offered , where data is collected about card users to offer individuals bespoke and personalised rewards , and services suited specifically to them .”
Blockchain technology is also set to play a significant role in the future of digital wallets . Cryptocurrency integration is becoming more common , with some wallets allowing users to seamlessly switch between fiat and digital currencies .
The rise of ‘ super wallets ’ beyond China While ‘ super wallets ’ like Alipay and WeChat Pay have dominated the Chinese market for years , their emergence in other regions has been slower . However , by 2025 , we may see the rise of similar allencompassing platforms in other parts of the world .
Pietro Candela of Alipay + says : “ Superapps were pioneered in China but now they are used by the majority of the population across Asia and Africa .”
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