Digital wallet usage continues to increase

According to the J.D. Power 2024 Digital Wallet Satisfaction Study, the surge of digital wallet usage in the U.S. is evident, with nearly half of consumers (48%) utilizing these platforms in the past 90 days, marking a significant 12% increase from 2023. 

This shift toward digital wallets is primarily fueled by the convenience they offer, leading consumers to favor them for various transactions. Satisfaction with digital wallets has also risen, particularly due to their ease of use, both online and offline. Despite this growth, challenges such as inconsistent merchant acceptance and lack of associated perks persist, impacting customer loyalty. However, with increasing merchant acceptance and continued consumer preference for digital transactions, the trajectory for digital wallets remains upward, promising further expansion in the near future.