According to a study by Juniper Research, there will be 5.2 billion digital wallet users by 2026, up from 3.4 billion in 2022.

Its report, “Digital Wallets: Market Forecasts, Key Opportunities and Vendor Analysis 2022-2026,” classifies superapps as general-purpose apps that integrate digital payments alongside other services, including wealth management and e-commerce.

Additionally, he outlined three Asia-Pacific countries poised for rapid growth over the next four years, the Philippines, Thailand and Vietnam.

He predicts that adoption of digital wallets will reach nearly 75% of the population in each of these countries by 2026. He cited growing access to online and mobile commerce services as a driver of wallet usage. digital, in particular via superapps.

Additionally, he said QR code payments will be the most popular transaction type in 2026, reaching 380 billion transactions globally, accounting for more than 40% of all transactions by volume.

However, as usage in markets including China and India reaches its peak, vendors will need to innovate to stay competitive in new geographic markets. As a result, Juniper says QR code payment providers should integrate loyalty features and personalized marketing capabilities to entice merchants to opt-in.

Research co-author Damla Sat said, “These rapidly growing markets represent a significant opportunity for digital wallet providers, but they need to work smart to maximize their position.

“A highly competitive wallet landscape means providers need to differentiate themselves by integrating machine learning to provide spend insights and introducing new services like wealth management to add value.”

A report from PYMNTS and PayPal also highlighted the importance of superapps. He said 72% of consumers are interested in a super app that acts as a one-stop-shop for most of their needs.

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