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In 2023, mobile wallets accounted for roughly half of global e-commerce payment transactions, making the digital wallet by far the most popular online payment method worldwide. This is to increase with a CAGR of 14.9 percent between 2023 and 2027. Credit cards ranked second with a 22 percent market share in 2023, a figure which is projected to decline in the coming years.

Digital & mobile wallets around the world

Although digital and mobile wallets were globally the leading choice when buying online, some regions used this payment method more than others. For instance, the digital or mobile wallet was most popular in the Asia Pacific region, where it accounted for approximately 60 percent of e-commerce transactions in 2020. In contrast, this method’s transaction share amounted to only about 20 percent in Latin America.

United Kingdom vs United States

Consumers in the United Kingdom and the United States both liked using digital or mobile wallets when paying for products or services online. One major difference between these two groups, however, was their approach to card payment methods. Approximately 30 percent of online shoppers in the UK made payments using debit cards, while U.S. shoppers had a clear preference for credit cards in 2020.

Transaction value and market share of payment methods in total e-commerce transaction value worldwide in 2023, with a forecast for 2027

Payment method used in e-commerce transactions worldwide	Estimated transaction value in U.S. dollars (2023)	Estimated share of transaction value in e-commerce (2023)	Estimated transaction value in U.S. dollars (2027)	Estimated share of transaction value in e-commerce (2027)	% CAGR (2023-2027)
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Release date

March 2024

More information

Region

Worldwide

Survey time period

March 2024

Special properties

The source shared market share figures, whereas transaction values and CAGR have been calculated by Statista based on individual figures spread throughout the report. All figures provided are estimates.

Supplementary notes

The figures provided on "digital wallets" include the following:

Wallets that allow for card payments on a mobile device (e.g., Apple Pay, Google Pay);
Stored value wallets (e.g., PayPal, Alipay, in this context specifically when used in an online-only environment);
Mobile money wallets (e.g., M-Pesa in Kenya, again only in an e-commerce environment).

The source does not separate between the different wallets, nor does it provide figures for individual brands.

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