Mobile Wallets Now Account for 21% of In-Store Payments

Mobile wallets are becoming a core part of how consumers pay in stores. A recent study of over 216,000 consumers across 11 countries shows mobile wallets now represent 21% of all in-store transactions. This marks an increase of nearly 11% since 2022.

Mobile-First Is No Longer Optional

Consumers are not abandoning credit or debit cards. Instead, they are changing how they access them. Mobile wallets store and tokenize those same cards, allowing users to pay faster and more securely through tap-to-pay, biometric ID, and real-time access.

The payment source stays the same, but the experience improves. Users benefit from speed, security, and more control over how they pay. For merchants, this shift is not a future trend. It is a present reality.

Adoption Varies by Market

The rise in mobile wallet usage is not uniform. In countries like Japan and Singapore, in-store wallet use has reached 35%. This is driven by real-time payment rails, QR code integration, super apps, and strong digital trust.

In contrast, France and the United States are seeing slower growth. Entrenched card habits and widespread use of contactless cards play a role. In the U.S., companies like Amazon and Walmart pushing their own wallet solutions also contribute to slower adoption of third-party wallets.

There Is No Universal Strategy

A single solution will not work in every market. To succeed, payment strategies must reflect local behavior and infrastructure. This includes offering rewards, removing friction, and aligning digital tools with existing consumer habits.

Brazil’s Pix system is a clear example. It continues to gain share because it connects directly with how people move money in that specific market. Mobile wallet success requires the same localized thinking.

Age Groups Are Adopting Faster

Mobile wallets are no longer just a Gen Z trend. Gen Z saw a 23% increase in in-store mobile wallet usage since 2022, but adoption is also growing among millennials, Gen X, and even baby boomers. The appeal is shifting from niche to mainstream.

Mobile wallets are not just changing the way people pay. They are reshaping the expectations around speed, security, and experience. Financial services providers and merchants must act now. Mobile-first is no longer an option. It is the standard.

Payment Solutions with Kubera Payments

At Kubera Payments, we help businesses across North America move millions of dollars daily, whether in-store, online, or on mobile. Our team of payment experts is here to guide you through the complexities of payment processing, ensuring your transactions are secure, reliable, and PCI-compliant. We have strong relationships with a wide network of acquirers and can help you find the right front-end and technology solutions to work together.

Get expert advice on optimizing your payments — let’s talk.

Contact our team at sales@kuberapayments.com or 604-484-9278.

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