Wallets Enable Commerce, Credit Cards Face New BNPL Threat, and Physical Cards Fade Away
Accelerating payments innovation is transforming modern wallets into commerce enablers. Innovation also demands that credit card issuers consider digital-only consumer credit cards and rewards-based subscriptions. This report predicts how these trends will shake out in H2 2024.
Key Question: What outcomes will key payments trends shape by the end of 2024?
Key Stat: Almost 6 in 10 US consumers will use mobile wallets to make payments this year, and we expect that number to climb to nearly 70% by 2028. Innovation in commerce management features will push user engagement into overdrive.
Here’s what’s in the full report
- 2 Exportable files for easy reading, analysis and sharing.
- 2 Charts: Reliable data in simple displays for presentations and quick decision making.
Table of Contents
- Executive Summary
- Digital wallets will transform into commerce enablers more quickly
- Physical consumer credit cards will start to disappear
- Credit cards will respond to the BNPL subscription rewards threat
- Sources
- Media Gallery
Charts in This Report
- Type of Underlying Payment Method Used by US Adults When Using a Digital Wallet for Online vs. In-Store Purchases, Nov 2023 (% of respondents)
- Top Motivators for Opening a New Credit Card According to Adults Worldwide, Jan 2024 (% of respondents)
