EXECUTIVE INSIGHT
Our focus has been to build an ecosystem where anyone can send a US $ 10 transaction ( internationally ) affordably , aligning with the United Nations Sustainable Development Goals of lowering the cost of remittances to 3 %. And small-value payments meant we built a network that reaches the underbanked and underserved . The answer to this was wallets .
We ’ ve built a network of 2.4 billion wallets , 7.5 billion bank accounts and 12 billion cards . TerraPay ’ s integration with more than 142 wallet providers allows for a robust infrastructure that supports a high volume of transactions for delivering local currency payouts to digital wallets in 50 + countries .
We ’ ve experienced a remarkable 53.7 % Compound Annual Growth Rate ( CAGR ) in wallet transactions in the last year . This showcases the growth and adoption of digital wallet payouts and a clear opportunity , especially if the number of wallet users is going to double to 5.2 billion by 2028 .
Over the years , we ’ ve established an ecosystem capable of assessing risk and accommodating diverse and evolving compliance standards across different markets . This is what has helped us build our trusted network of partners .
Today , our expertise in tech infrastructure and compliance , combined with global networks , will hopefully enrich the digital economy , making finance more accessible and safer for millions of individuals . Almost all ( 97 %) of our transactions are delivered in under one minute and 96 % in under 10 seconds . As we expand , we ’ re adding new solutions while strengthening existing ones and building new partnerships that further our vision .
Q . IN 2025 , HOW WILL THE REGIONAL ADOPTION RATES OF DIGITAL WALLETS DIFFER ? CAN WE EXPECT TO SEE MORE MARKETS REPORT AN UPTICK IN DIGITAL WALLET USE ? The trajectory is clear , according to Juniper Research – by 2026 , digital wallet users will exceed 5.2 billion , with transaction values soaring by 13.2 % to reach US $ 2.3tn . With 1.4 billion people globally lacking bank accounts , the potential for digital wallets to transform financial access is staggering .
Of course , the impact and evolution of digital wallets won ’ t be uniform . The APAC region currently leads digital wallet spending , contributing US $ 9.8tn ( 70 % of the total ), but one can see variances even within this region , with China and India leading the charge .
Across the world , digital wallets are expected to show impressive doubledigit growth in Europe ( 11 %), the Middle East and Africa ( 18 %) and LATAM ( 23 %) in the next five years .
40 November 2024