HAMPSHIRE, U.K.– A new study from Juniper Research is forecasting the total number of digital wallet users will exceed 5.2 billion globally in 2026, up from 3.4 billion in 2022.
The research predicts that the presence of “superapps” will drive digital wallet use in developing countries that are currently considered cash heavy.
Superapps are multipurpose apps able to integrate digital payments alongside other services, including wealth management and eCommerce.
According to the study, three countries in Asia Pacific are particularly primed for rapid growth over the next four years: Philippines, Thailand and Vietnam.
In those countries, the study predicts the adoption of digital wallets will near 75% by 2026, and cited the rising access to online and mobile commerce services as the driving forces behind the use of digital wallets, notably through superapps.
“These rapidly growing markets represent a significant opportunity for digital wallet vendors, but they must work intelligently to maximize their position,” said Research co-author Damla Sat. “A highly competitive wallets’ landscape means that vendors must differentiate themselves by integrating machine learning to provide spending insights and introduce new services such as wealth management to add value.”
QR Codes Explode
Additionally, Juniper said research identified QR code payments as the most popular digital wallet transaction type in 2026; reaching 380 billion transactions globally, and accounting for over 40% of all transactions by volume.
“However, as usage within markets including China and India reaches its apex, vendors must innovate to remain competitive entering new geographic markets,” Juniper said. “Therefore, the research recommends that QR code payment vendors integrate loyalty features and personalized marketing capabilities to incentivize merchant acceptance, which will be critical to driving adoption.”