Digital wallets: How to get your slice of a $10 trillion industry

Report

Digital wallets

How to get your slice of a $10 trillion industry

Fuelled by the rise of smartphones, e-commerce and contactless payments, digital wallets have migrated from alternative to mainstream in a very short time. They are now regularly used by consumers around the world, both instore and online.

In 2020, there were 2.8 billion digital wallet users spending $5.5 trillion globally. By 2025, this is expected to surpass $4.4 billion, creating a $10 trillion market where one in every two people will choose to pay this way.

In this research, Mambu reveals how businesses like yours, whether a bank, a fintech or a non-bank, can reap the benefits of this lucrative and highly customer-centric opportunity.

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A win-win for consumers and businesses

Digital wallets are booming

Today, digital wallets are seen as a driver of strategic growth with more and more banks and non-banks looking to leverage this offer to:

Grow market share

Build customer loyalty

Open market segments

Drive new revenue streams

Cloud-native core banking platforms like Mambu can facilitate digital wallet entry faster, with less friction and reduced overall cost. Find out how to fast-track your digital wallet success.

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Sprint ahead with Mambu

Fast-track your digital wallet success

Boost customer acquisition

with low risk deployment and high frequency interaction

Improve sales conversion

with seamless customer experience to keep customers and win new ones

Explore new segments

with the ability to reach the underserved and unbanked markets

Open up possibilities with Mambu

Customers who have unlocked the foundations for growth

"As we transition to a digital bank we need to develop new services quickly and keep our systems reliable. We knew that a cloud-native banking platform would empower us to develop and get new products to market rapidly."

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"We chose Mambu because it has a global presence and a proven track record in scaling lending businesses worldwide, so we could partner with confidence and start building right away."

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"The Mambu and Western Union team have come together in a truly collaborative partnership accelerating our financial service ambitions, while building a product that can scale and is cloud agnostic."

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Mambu for you

Discover Mambu’s digital wallet product capabilities

For companies, stored value account based products offer an opportunity to engage with customers on their terms.

Build and customise your own stored value offer with Mambu’s cloud-native infrastructure. Our digital wallet software solutions offer all the features and functionality you need to create, launch and operate a winning wallet product.

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