DIGITAL WALLETS: KEY OPPORTUNITIES, VENDOR ANALYSIS AND MARKET FORECASTS 2021-2025デジタルウォレット:主要な機会、ベンダー分析、市場予測 2021-2025年 このレポートでは、急速に変化するこの重要な市場を徹底的に分析しています。また、デジタルウォレット市場の現在の動向と、パンデミックの影響による顧客の意識の変化がどのように影響しているかを明らかにし... もっと見る
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このレポートでは、急速に変化するこの重要な市場を徹底的に分析しています。また、デジタルウォレット市場の現在の動向と、パンデミックの影響による顧客の意識の変化がどのように影響しているかを明らかにしています。
Report Description
Juniper Research’s latest Digital Wallets research provides an exhaustive analysis to this rapidly changing and highly important market. The research highlights current developments in the digital wallets space and how this has been drastically influenced by the impact of pandemic, which has led to changes in customer attitudes. It also provides valuable insights into vendors’ digital wallets strategy and a fine-grained analysis of the current competitive landscape, supported by interviews with key vendors in the field.
The suite also includes industry benchmark forecasts for digital wallet user numbers and purchases (volume and value), split by device type (handset or desktop/laptop), transaction type and (for in-store payments) by wallet technology.
This research suite includes:
KEY FEATURES
Digital Wallets Trends Analysis: Detailed analysis of each digital wallets segment, coupled with insights on market trends, challenges and our future outlook for the market. This analysis focuses on:
Juniper Research Leaderboard: 22 leading digital wallets vendors compared, scored and positioned on the Juniper Research Leaderboard, including:
Interviews: Three leading digital wallets stakeholders interviewed, including:
Benchmark Industry Forecasts: Including forecasts for digital wallet users, transaction volumes and transaction values, split by region, transaction type and for in-store payments by QR codes and NFC. All forecasts are split by the following 19 countries, creating an extensive resource for stakeholders:
KEY QUESTIONS
COMPANIES REFERENCED
Interviewed: Boku, G+D, Paysafe Group.
Case Studied: GO-JEK.
Included in Juniper Research Leaderboard: Alipay, Amazon Pay, Apple Pay, Du Xiaoman Pay, Fitbit Pay, Garmin Pay, Google Pay, Huawei Pay, LINE Pay, Masterpass, Mi Pay, M-Pesa , MTN Mobile Money, Orange Money, PayPal, Paytm, Rakuten Pay, Samsung Pay, Skrill, Visa Checkout, WeChat Pay, Yandex.Money.
Mentioned: Activision Blizzard, Airtel, Alibaba, AliFinance, American Express, Ant Group, ANZ, Baidu, Baifubao, Banco Santander, Bank of America, Bonga, British Airways, Capital One, Chevron, China Europe International Business School , China Postal, Coin, Delhi College of Engineering, Economic Strategy Committee of Singapore, Economist, Facebook, Fillr, Grab, Harvard Business School, Hitotsubashi University, HSBC, iDEAL, Inter Solutions Software Private Limited, Kakao Pay, KBC Bank Ireland, Lancaster University, Mastercard, McKinsey & Company, Mercado Pago, Mizuho Corporate Bank, MobiKwik, Naver, NETELLER, Newegg, OCBC Bank, Oxford University, Paramo, Payoneer, PhonePe, PlayStation Network, Riverrun Software Services Group Limited, Royal Bank of Canada, Russian Standard Bank, Safaricom, Sberbank, SG QR, Shenzhen Zhixin New Information Technology Co, Ltd, Singtel’s Group Digital Life, Square Cash, Starbucks, Startec Global Communications Limited, STC Pay, Steam, Telma, Tencent, Ticketmaster, Total Kenya Ltd, Uchumi, UnionPay, University of Nairobi , UOB, US Bank, Venmo, Vodafone, Walmart, Weixin Pay, Western Union, Yolt, York University, Zapper, Zelle, Zwupp!
DATA & INTERACTIVE FORECAST
Juniper Research’s Digital Wallets forecast suite includes:
Digital wallet user numbers, average usage levels, total transaction volumes, average transaction price and total transaction value.
Data split by two transaction modes (mobile and desktop/laptop) and by eight transaction types:
5-year benchmark forecasts for key metrics by 8 key regions and 19 country-level splits including:
Access to the full set of forecast data of 139 tables and over 26,000 datapoints.
Interactive Excel Scenario tool allowing the user the ability to manipulate Juniper Research’s data for 10 different metrics.
Juniper Research’s highly granular IFxls (Interactive Excels) enable clients to manipulate Juniper Research’s forecast data and charts to test their own assumptions using the Interactive Scenario Tool, and compare select markets side by side in customised charts and tables. IFxls greatly increase clients’ ability to both understand a particular market and to integrate their own views into the model.
Table of contents
1. The Digital Wallet and Current Market Landscape
1.1 Introduction.7
1.2 The Rise of the Digital Wallet.7
1.2.1 History.7
1.2.2 Development Paths.8
1.2.3 Current Usage .10
Figure 1.3: Number of People Using Digital Wallets (m), Split by 8 Key Regions,
2015-2020 .10
i. Africa & Middle East .11
Figure 1.4: Number of Handsets with Active Mobile Wallets, Africa, 2015-2020.11
ii. Asia Pacific .12
Figure 1.5: Number of Handsets with Active Mobile Wallets, Split by 3 Regions,
2015-2020 .12
iii. Latin America.13
Figure 1.6: Number of Handsets with Active Mobile Wallets, Latin America, 2015-
2020.13
iv. North America and Europe.13
Figure 1.7: Number of People Using Digital Wallets (m), Split by 3 Key Regions,
2015-2020 .14
v. Overall Wallet Penetration .14
Figure 1.8: Percentage of Population Using Digital Wallets (%), Split by Selected
Countries, 2020.14
Figure 1.9: Digital Wallet Usage by Income (2019) .15
vi. Conclusion.15
2. Key Digital Wallet Trends
2.1 Introduction.17
2.2 COVID-19 & Digital Wallets.17
Figure 2.1: How PayPal’s QR Payment System Works . 17
2.3 The Rise of Open Wallets .18
2.4 Contactless Payments .19
Figure 2.2: Percentage of Mobile Handsets Using Contactless Wallets (%),
Selected Countries, 2020. 19
Figure 2.3: Total NFC Retail Transaction Value per annum ($m), Global, 2016-
2025 . 19
2.5 QR Payments .20
2.5.2 Current QR Payments Market Status.21
Figure 2.4: Total Volume of QR Payments (m), 2020-2025, Split by 8 Key Regions
. 21
Figure 2.5: Top 3 Countries for QR Transactions, 2020 . 22
Figure 2.6: Percentage of Mobile Handsets Using QR Codes (%), 2020 . 22
2.5.3 QR Payments Outlook.23
Figure 2.7: Percentage of Mobile Handsets Using QR Codes (%), 2025 . 23
2.6 QR Payments versus Contactless .24
Figure 2.8: QR & Contactless Payments ? Strengths & Weaknesses. 25
2.6.1 QR Payments .26
i. Strengths . 26
ii. Weaknesses. 26
2.6.2 Contactless Payments .27
i. Strengths . 27
ii. Weaknesses .28
2.6.3 Conclusion .28
Figure 2.9: Contactless Mobile Users versus QR Payment Users, Global, 2015-
2024.28
2.7 Mobile Money and eCommerce .30
2.7.1 Developed Economies.30
2.7.2 Developing Economies .30
Figure 2.10: Total Users of Mobile Financial Services: Money Transfer, Loans,
Savings & Insurance (m), Split by 4 Key Regions, 2020-2025 .30
2.8 Evolving Nature of Wearable Payments .32
2.9 The Rise of the Super App.32
3. Overcoming Challenges and Future Outlook
3.1 Introduction.36
3.2 Security.36
3.2.1 COVID-19, the Rapid Adoption of eCommerce and Security.36
i. Digital Wallet Security Solutions.37
3.3 Acceptance and Legacy Technology.38
3.4 Consumer Behaviour.39
3.5 Competition.40
Figure 3.1: Prominent e-Wallet archetypes .40
3.5.1 Overall Strategies for Success.41
i. Tailored Strategy for Financial Institutions.41
3.6 Regulation .42
3.7 Future Outlook .42
4. Digital Wallets: Competitive Landscape
4.1 Introduction.45
Table 4.1: Digital Wallets Vendor Capability Assessment Factors . 46
Figure 4.2: Juniper Research Leaderboard for Digital Wallets. 47
Table 4.3: Digital Wallets Leaderboard Scoring Heatmap . 48
i. Limitations & Interpretation. 49
4.1.2 Vendor Groupings .50
i. Summary . 50
ii. Established Leaders. 50
iii. Leading Challengers. 51
iv. Disruptors and Emulators . 52
4.2 Digital Wallets: Movers & Shakers.54
4.3 Vendor Profiles .56
4.3.1 Alipay.56
i. Corporate. 56
ii. Geographic Spread . 56
iii. Key Clients & Strategic Partnerships . 56
iv. High-level View of Offerings . 56
v. Juniper Research’s View: Key Strengths & Strategic Development
Opportunities . 57
4.3.2 Amazon Pay .57
i. Corporate Information . 57
ii. Geographic Spread . 57
iii. Key Clients & Strategic Partnerships . 57
iv. High-level View of Offerings . 58
v. Juniper Research’s View: Key Strengths & Strategic Development
Opportunities.58
4.3.3 Apple Pay.58
i. Corporate .58
ii. Geographic Spread.58
iii. Key Clients & Strategic Partnerships .58
iv. High-level View of Offerings .59
v. Juniper Research’s View: Key Strengths & Strategic Development
Opportunities.59
4.3.4 Du Xiaoman Pay.59
i. Corporate Information.59
ii. Geographic Spread.59
iii. Key Clients & Strategic Partnerships .60
iv. High-level View of Offerings .60
v. Juniper Research’s View: Key Strengths & Strategic Development
Opportunities.60
4.3.5 Fitbit Pay.60
i. Corporate .60
ii. Geographic Spread.60
iii. Key Clients & Strategic Partnerships .61
iv. High-level View of Offerings .61
v. Juniper Research’s View: Key Strengths & Strategic Development
Opportunities.61
4.3.6 Garmin Pay.61
i. Corporate .61
ii. Geographic Spread.61
iii. Key Clients & Strategic Partnerships .61
iv. High-level View of Offerings . 62
v. Juniper Research’s View: Key Strengths & Strategic Development
Opportunities . 62
4.3.7 Google Pay.62
i. Corporate. 62
ii. Geographic Spread . 62
iii. Key Clients & Strategic Partnerships . 62
iv. High-level View of Offerings . 63
v. Juniper Research’s View: Key Strengths & Strategic Development
Opportunities . 63
4.3.8 Huawei Pay.63
i. Corporate Information . 63
ii. Geographic Spread . 63
iii. Key Clients & Strategic Partnerships . 63
iv. High-level View of Offerings . 64
v. Juniper Research’s View: Key Strengths & Strategic Development
Opportunities . 64
4.3.9 LINE Pay .64
i. Corporate Information . 64
ii. Geographic Spread . 64
iii. Key Clients & Strategic Partnerships . 64
iv. High-level View of Offerings . 65
v. Juniper Research’s View: Key Strengths & Strategic Development
Opportunities . 65
4.3.10 Masterpass.65
i. Corporate Information . 65
ii. Geographic Spread . 65
iii. Key Clients & Strategic Partnerships .65
iv. High-level View of Offering.65
v. Juniper Research’s View: Key Strengths & Strategic Development
Opportunities.66
4.3.11 Mi Pay.66
i. Corporate .66
ii. Geographic Spread.66
iii. Key Clients & Strategic Partnerships .66
iv. High-level View of Offering.66
v. Juniper Research’s View: Key Strengths & Strategic Development
Opportunities.67
4.3.12 M-Pesa .67
i. Corporate .67
ii. Geographic Spread.67
iii. Key Clients & Strategic Partnerships.67
iv. High-level View of Offering.67
v. Juniper Research’s View: Key Strengths & Strategic Development
Opportunities.68
4.3.13 MTN Mobile Money .68
i. Corporate .68
ii. Geographic Spread.68
iii. Key Clients & Strategic Partnerships.68
iv. High-level View of Offering.68
v. Juniper Research’s View: Key Strengths & Strategic Development
Opportunities.68
4.3.14 Orange Money.69
i. Corporate Information.69
ii. Geographic Spread . 69
iii. Key Clients & Strategic Partnerships . 69
iv. High-level View of Offerings . 69
v. Juniper Research’s View: Key Strengths & Strategic Development
Opportunities . 69
4.3.15 PayPal.70
i. Corporate Information . 70
ii. Geographic Spread . 70
iii. Key Clients & Strategic Partnerships . 70
iv. High-level View of Offerings . 70
v. Juniper Research’s View: Key Strengths & Strategic Development
Opportunities . 71
4.3.16 Paytm.71
i. Corporate Information . 71
ii. Geographic Spread . 71
iii. Key Clients & Strategic Partnerships . 71
iv. High-level View of Offering . 71
v. Juniper Research’s View: Key Strengths & Strategic Development
Opportunities . 72
4.3.17 Rakuten Pay .72
i. Corporate. 72
ii. Geographic Spread . 72
iii. Key Clients & Strategic Partnerships . 72
iv. High-level View of Offering . 73
v. Juniper Research’s View: Key Strengths & Strategic Development
Opportunities . 73
4.3.18 Samsung Pay .73
i. Corporate .73
ii. Geographic Spread.73
iii. Key Clients & Strategic Partnerships .73
iv. High-level View of Offering.74
v. Juniper Research’s View: Key Strengths & Strategic Development
Opportunities.74
4.3.19 Skrill .74
i. Corporate .74
ii. Geographic Spread.74
iii. Key Clients & Strategic Partnerships .74
iv. High-level View of Offering.75
v. Juniper Research’s View: Key Strengths & Strategic Development
Opportunities.75
4.3.20 WeChat Pay .75
i. Corporate .75
ii. Geographic Spread.75
iii. Key Clients & Strategic Partnerships .75
iv. High-level View of Offering.76
v. Juniper Research’s View: Key Strengths & Strategic Development
Opportunities.76
4.3.21 Yandex.Money.76
i. Corporate .76
ii. Geographic Spread.76
iii. Key Clients & Strategic Partnerships .76
iv. High Level View of Offering.77
v. Juniper Research’s View: Key Strengths & Strategic Development
Opportunities.77
4.3.22 Visa Checkout.77
i. Corporate. 77
ii. Geographic Spread . 77
iii. Key Clients & Strategic Partnerships . 77
iv. High-level View of Offering . 78
v. Juniper Research’s View: Key Strengths & Strategic Development
Opportunities . 78
1. Digital Wallets Overview
1.1 Introduction.4
1.2 The Rise of the Digital Wallet.4
1.2.1 History.4
1.2.2 Development Paths.5
1.2.3 Current Usage .7
Figure 1.3: Number of People Using Digital Wallets (m), Split by 8 Key Regions,
2015-2020 .7
i. Africa & Middle East .8
Figure 1.4: Number of Handsets with Active Mobile Wallets, Africa, 2015-2020.8
ii. Asia Pacific .8
Figure 1.5: Number of Handsets with Active Mobile Wallets, Split by 3 Regions,
2015-2020 .9
iii. Latin America.9
Figure 1.6: Number of Handsets with Active Mobile Wallets, Latin America, 2015-
2020.9
iv. North America and Europe.10
Figure 1.7: Number of People Using Digital Wallets (m), Split by 3 Key Regions,
2015-2020 .10
v. Overall Wallet Penetration .11
Figure 1.8: Percentage of Population who Use Digital Wallets (%), Split by
Selected Countries, 2020 .11
2. Methodology & Assumptions
2.1 Introduction.13
2.2 Methodology & Assumptions.13
Figure 2.1: Juniper Research Digital Wallets Methodology. 14
3. Digital Wallet Forecasts
3.1 Digital Wallet Users .16
3.1.1 Wallet Penetration .16
Figure & Table 3.1: Proportion of Population with Active Digital Wallets (%), Split
by 8 Key Regions, 2020-2025. 16
3.1.2 Wallet Users .17
Figure & Table 3.1: Digital Wallets in Use (m) Split by 8 Key Regions, 2020-2025
. 17
3.1.3 Wallets with NFC Capability - Penetration .18
Figure & Table 3.2: Proportion of Wallets Used to Make NFC/FeliCa Payments
(%), Split by 8 Key Regions, 2020-2025. 18
3.1.4 Contactless Wallets - Users .19
Figure & Table 3.3: Digital Wallets Used to Make NFC/FeliCa Payments (m)’ Split
by 8 Key Regions, 2020-2025. 19
3.1.5 Wallets with QR Code Payment Capabilities .20
Figure & Table 3.4: Percentage of Mobile Handsets Using QR Codes (%), Year
End, Split by 8 Key Regions, 2020-2025. 20
3.1.6 QR Payments Users .21
Figure & Table 3.5: Number of Mobile Handsets Using QR Codes (m), Split by 8
Key Regions, 2020-2025. 21
3.2 Digital Wallet Transaction Volumes.22
3.2.1 Wallets Average Transaction Volumes .22
Figure & Table 3.6: Average Annual Transactions Per Digital Wallet Split by 8 Key
Regions, 2020?2025. 22
3.2.2 Wallets Transaction Volumes.23
Figure & Table 3.7: Digital Wallet Transaction Volumes (m), Split by 8 Key
Regions, 2020
-2025 .23
3.2.3 Wallets Transaction Volumes
? Split by Channel.24
Figure & Table 3.8: Digital Wallet Transaction Volumes (m), Split by Channel,
2020
-2025 .24
3.3 Digital Wallet Transaction Values .25
3.3.1 Average Transaction Values.25
Figure & Table 3.9: Average Digital Wallet Transaction Value ($), Split by 8 Key
Regions, 2020
-2025 .25
3.3.2 Total Transaction Values .26
Figure & Table 3.10: Total Digital Wallet Transaction Values per annum ($m) Split
by 8 Key Regions 2020
-2025.26
3.3.3 Total Transaction Values, Split by Channel .27
Figure & Table 3.11: Total Digital Wallet Transaction Values per annum ($m),
Split by Channels, 2020
-2025.27
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