PAYMENTS container , to empower our digital wallet partners around the world to evolve their digital apps into Super Apps .
“ Alipay + Mini Programs are small mobile applications developed by third parties that allow users to book services , purchase products , and access exclusive discounts and promotions .”
Digital wallets in e-commerce and beyond The dominance of digital wallets in e-commerce is set to grow exponentially by 2025 .
According to a report by Juniper Research , digital wallets are expected to account for more than 50 % of e-commerce transaction value globally by 2025 , up from just over 40 % in 2021 .
Ryan O ’ Holleran of Airwallex emphasises the importance of digital wallets for businesses : “ There is a clear appetite amongst consumers to transact using digital wallets .
“ Businesses that do not offer this payment method risk missing out on a growing market segment , hindering their competitiveness in the process .”
This growth is driven by the convenience and security offered by digital wallets , as well as the increasing integration of social media and e-commerce platforms .
‘ Social commerce ’, where users can make purchases directly through social media apps , is likely to become more prevalent , further boosting digital wallet usage .
“ By 2026 we can expect over 60 % of the worldwide population to use digital wallets ”
RYAN O ’ HOLLERAN , HEAD OF SALES , ENTERPRISE , AIRWALLEX
O ’ Holleran continues : “ For e-commerce businesses in particular , it helps to reduce the issue of cart abandonment resulting in improved sales and revenue .
“ As the focus on security intensifies , we can expect a wider range of industries to tap into digital wallets and mirror the e-commerce sector ’ s success .”
Beyond e-commerce , we can expect to see digital wallet use expand into new industries . The healthcare sector , for instance , could benefit from digital wallets that securely store medical records and facilitate payments for services .
In the travel industry , digital wallets could streamline the booking process and store everything from boarding passes to hotel keys .
As we look towards 2025 , it ’ s clear that digital wallets will play an increasingly central role in our financial lives .
From transforming e-commerce to revolutionising financial inclusion in developing markets , the impact of this technology will be far-reaching .
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