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Marketers can emphasize how credit cards seamlessly integrate within quickly evolving digital wallet ecosystems. Open-loop digital wallets are cementing their position as consumers鈥� everyday commerce enablers. In 2024, roughly two-thirds of US smartphone users will transact via a mobile wallet app, up from about half in 2021, per our forecast.

Digital wallets will gain a bigger share of ecommerce transactions as electronic ID regulation looms. Digital wallets are the top online payment method in Europe.

From a slew of major partnerships to our forecasts for slower user growth, we look at the biggest BNPL trends of 2024鈥攁nd what they mean for 2025.

Payment providers are tapping genAI to personalize marketing offers and virtual assistants while streamlining customer checkout. These tools could help providers monetize transaction data and help merchants drive sales.

Marketing campaigns can also emphasize how cards integrate with digital wallets: Nearly 65% of US smartphone users will pay for something with a mobile wallet app in 2024, per our forecast. Debit cards build financial relationships for incumbents and challengers alike. Debit card transaction volume is holding strong. It will hit $2.896 trillion in 2024, up 5.2% annually, per our forecast.

Brazil is Latin America鈥檚 largest retail ecommerce market by total sales volume and will be this year鈥檚 third-fastest-growing digital economy worldwide. Understanding the nuances of how and where Brazil鈥檚 diverse consumer base spends its money online is key for brands and retailers to thrive in this highly competitive ecommerce market.

While it still faces hurdles, the company鈥檚 finances have improved markedly鈥攕etting it up for a strong IPO in 2025

And Visa recently started letting financial institutions add virtual cards to employees鈥� digital wallets like Apple Pay. Wire and other payments will stay flat this year, but change could be on the horizon. In addition to wire payments, this segment includes real-time, cryptocurrency, and other digital payments that aren鈥檛 check, cash, ACH, or card.

Paze could therefore cut into the market share of other digital wallets like Apple Pay or PayPal. Paze鈥檚 features will also likely become the new norm among wallets, forcing competitors to innovate to keep up. Our take: While Paze鈥檚 rollout is taking longer than we anticipated, its impact on the industry will still be impressive. It will become a fierce new competitor for Apple Pay and PayPal.

As fraud protection programs get more sophisticated, fraudsters are changing tactics and focusing on people-centric scams

In the third of five reports in our 鈥淧ayments Ecosystem 2024鈥� collection, we unpack how the lines between POS hardware and software are disappearing as providers push the innovation envelope.

How it helps Venmo: Ensuring consumers鈥� recurring payments are sent through the digital wallet can help Venmo grow its volume. It helps to make Venmo a part of consumer鈥檚 financial lives every month and ensures more recurring payments go through Venmo. It can give Venmo a fairly reliable source of volume.

But the digital wallet likely won鈥檛 meet its holiday shopping goal, given that the season starts next month for most consumers, but uptake should take off in 2025.

The tie-up can bring in a large new stream of payments volume for the BNPL player, boosting growth ahead of going public next year

Digital wallets will cement their position as everyday commerce enablers鈥攊n or out of the store. Total smartphone-based spending will top $1 trillion for the first time.

Users don鈥檛 need a bank account to use Pix, per se, but they must have an account with a participating payment service provider鈥攂e it a fintech company, digital wallet, or traditional bank. To make a Pix transfer, users must first create a key, or alias, with either their mobile phone number, email address, taxpayer ID (CPR or CNPJ), or via a randomly generated alphanumeric string.

On today鈥檚 podcast episode, we discuss the main reasons YouTube is the most watched platform on TVs, how 鈥淧lanet YouTube鈥檚鈥� gravitational pull is disrupting other media types, and what the biggest threat to its dominance is. Join Senior Director of Podcasts and host Marcus Johnson, Vice President and Principal Analyst Jasmine Enberg, and Principal Analyst Bill Fisher for the conversation. Listen everywhere and watch on YouTube and Spotify.

The numbers are even higher among digital wallet users, with 44.0 million millennials using proximity payments鈥�15.6 million more than Gen Z. Millennials are using more digital tools to monitor their health.

But fraud still remained rampant across the holiday weekend, showing payment providers have more work to do to step up their protections