Comprehensive data compiled from extensive research on mobile wallet adoption, digital payment trends, and customer retention strategies for Shopify brands
Key Takeaways
- Mobile wallet market growth accelerates rapidly - The global mobile wallet market was valued at $12.85 billion in 2025 and is projected to grow at a 26.30% CAGR to $104.69 billion by 2034, creating massive opportunities for ecommerce brands to integrate wallet passes into their retention strategies
- E-commerce transactions dominated by digital wallets - Digital wallets captured 53% of global online purchases in 2024, more than double the 20% captured by credit cards, establishing mobile wallets as the preferred payment method for online shoppers
- Consumer adoption has reached critical mass - 4.5 billion consumers globally are projected to use digital wallets by 2025, representing 54.9% of the world's population, with significant U.S. adoption growth continuing through 2026
- Gen Z demands wallet-enabled shopping experiences - 91% of Americans aged 18-26 use digital wallets as their primary payment method, demonstrating near-universal adoption among younger consumers who represent the future of ecommerce
- Weekly usage patterns indicate habitual behavior - 38% of Americans use digital wallets at least once per week, with 20% regularly leaving home without a traditional physical wallet
- Transaction velocity creates retention opportunities - U.S. mobile payment users spent an average of $3,693 through digital wallets in 2024, an 87% increase from 2020, demonstrating growing consumer comfort with mobile transactions
- Platform consolidation favors integrated solutions - With over 85% of U.S. retailers accepting Apple Pay and 70-80% accepting Google Wallet, brands that integrate wallet passes into loyalty programs can reach customers where they already transact
Mobile Wallet Market Growth and Adoption
1. Global mobile wallet market valued at $12.85 billion in 2025
The mobile wallet market was valued at $12.85 billion in 2025, establishing a substantial foundation for continued expansion across ecommerce and retail sectors. This valuation reflects the mainstream adoption of digital payment infrastructure that enables brands to extend loyalty programs, store credit, and membership benefits directly to customer devices.
For Shopify brands looking to capitalize on this growth, wallet pass integration represents an opportunity to meet customers in their preferred payment environment. As the market expands, brands that establish wallet presence early gain a competitive advantage in customer retention and engagement. Source: Precedence Research
2. Mobile wallet market projected to reach $104.69 billion by 2034
Market projections indicate growth from $4.51 billion to $104.69 billion by 2034, representing more than a 20x increase over the decade. This expansion creates significant opportunities for Shopify Plus brands implementing wallet-based retention strategies to capture customer attention in an increasingly mobile-first commerce environment.
The projected trajectory suggests mobile wallet infrastructure will become as fundamental to ecommerce as email marketing is today. Brands investing in wallet pass capabilities now position themselves ahead of market acceleration rather than scrambling to catch up when wallet integration becomes table stakes. Source: Precedence Research
3. Market growth rate maintains 26.30% CAGR through 2034
The mobile wallet market is expected to grow at a compound annual growth rate of 26.30% from 2025 to 2034, outpacing most other retail technology segments. Brands investing in wallet pass integration now position themselves ahead of market acceleration rather than scrambling to catch up.
This aggressive CAGR signals that mobile wallet adoption is still in expansion mode, not maturity. For DTC brands, this means customer expectations around wallet functionality will continue rising, making early adoption increasingly valuable from both a competitive and cost perspective. Source: Precedence Research
4. Digital wallet transaction volumes reach $17 trillion by 2029
Global digital wallet transaction volumes are projected to reach $17 trillion by 2029, representing a 73% increase from 2024 levels. This transaction velocity makes wallet passes an essential touchpoint for customer retention strategies that meet customers within their existing payment workflows.
The sheer volume of transactions flowing through digital wallets creates unprecedented opportunities for brands to deliver timely, contextual engagement. When customers are already in their wallet to complete a purchase, having your loyalty card, membership pass, or promotional offer visible at that exact moment dramatically increases redemption rates and repeat purchases. Source: Capital One Shopping
E-commerce Transaction Dominance
5. Digital wallets captured 53% of global online purchases in 2024
Digital wallets accounted for 53% of global online purchases in 2024, more than twice the 20% captured by credit cards. This dominance indicates that mobile wallet integration has shifted from competitive advantage to baseline expectation for ecommerce brands.
The majority market share means digital wallets are now the default payment preference for most online shoppers. Brands without seamless wallet checkout experiences risk friction that drives customers to competitors, while those with integrated wallet passes gain additional touchpoints for loyalty and retention communications. Source: Capital One Shopping
6. U.S. e-commerce transactions via digital wallets reached 39% in 2024
In the United States, 39% of e-commerce transactions were completed using digital wallets in 2024, with in-store usage at 16%. By 2030, these figures are predicted to reach 52% for online transactions and 30% at point-of-sale.
The U.S. market lags global adoption rates but is accelerating rapidly. For American DTC brands, this growth trajectory means wallet integration moves from nice-to-have to essential over the next several years, with first movers gaining sustained advantages in customer engagement and retention. Source: Cheqly citing Worldpay
7. 61% of Americans use digital wallets for online shopping
Majority adoption has arrived—61% of Americans use digital wallets to shop online, while 38% use them for purchases at physical stores. This usage pattern makes wallet passes a direct channel to customer attention for membership programs and loyalty communications.
The online-first adoption pattern aligns perfectly with ecommerce brand strategies. Digital-native brands can leverage wallet passes to extend their reach into physical retail touchpoints, creating omnichannel experiences that increase customer lifetime value across all shopping contexts. Source: Capital One Shopping
8. 51% of consumers avoid stores without digital wallet options
Consumer preferences have shifted decisively—51% of consumers stopped shopping at stores where they cannot use their digital wallets. This behavior extends to ecommerce, where wallet-integrated checkout and loyalty experiences influence purchasing decisions.
The avoidance behavior creates a binary competitive dynamic: brands either meet wallet expectations or lose customers to competitors who do. For Shopify brands, this makes wallet pass integration a defensive necessity as much as an offensive growth strategy. Source: Cheqly
Consumer Usage Patterns and Preferences
9. 4.5 billion consumers projected to use digital wallets globally by 2025
The global digital wallet user base is projected to reach 4.5 billion consumers by 2025, representing 54.9% of the world's population. By 2030, this number is expected to grow by 35% to reach 6.0 billion users, covering 70% of the global population.
Crossing the 50% threshold represents a tipping point where digital wallets transition from early adopter technology to mainstream infrastructure. For ecommerce brands, this means wallet-based retention strategies can now reach the majority of customers rather than just tech-forward segments. Source: Capital One Shopping
10. Digital wallet adoption predictions for mid-2025 suggested 65% U.S. adult penetration
Industry predictions from 2024 suggested that 65% of U.S. adults would be using digital wallets by mid-2025, up from 57% in 2024. This projected acceleration demonstrated the rapid mainstream acceptance that continues to accelerate into 2026.
Whether these specific projections materialized exactly as predicted, the directional trend is clear: U.S. digital wallet adoption continues climbing at double-digit rates. Brands that delayed wallet integration in 2024-2025 face diminishing returns as they play catch-up to competitors who established wallet presence earlier. Source: Cheqly
11. 38% of Americans use digital wallets at least weekly
Digital wallet usage has become habitual for a significant portion of consumers, with 38% of Americans using digital wallets at least once per week, including 10% who use them daily. This frequency creates multiple touchpoints for brands to engage customers through wallet-based communications.
Weekly usage patterns transform wallet passes from occasional redemption tools into regular engagement channels. Brands leveraging Rivo's wallet pass functionality can deliver point balance updates, VIP tier progress notifications, and time-sensitive offers that reach customers during their habitual wallet interactions, dramatically increasing engagement rates compared to email or push notifications. Source: Capital One Shopping
12. 20% of digital wallet users leave home without physical wallets
One in five Americans with digital wallets regularly leave home without a traditional physical wallet, demonstrating complete trust in mobile payment infrastructure. For these consumers, wallet passes represent the only way to deliver loyalty cards, membership benefits, and promotional offers.
This behavioral shift creates an interesting dichotomy: customers who abandon physical wallets become more accessible through digital wallet passes but completely unreachable through traditional plastic loyalty cards. Brands without digital wallet strategies literally cannot engage these customers outside of email and apps they may never download. Source: Capital One Shopping
Generational Adoption Trends
13. 91% of Americans aged 18-26 use digital wallets as primary payment
Gen Z has embraced digital wallets at near-universal rates, with 91% of Americans aged 18-26 using them as their primary payment method. This demographic represents both current purchasing power and future lifetime value for brands building wallet-integrated retention programs.
The 91% adoption rate among Gen Z means wallet functionality is non-negotiable for brands targeting younger consumers. As this cohort ages and their purchasing power grows, their payment preferences will reshape entire markets, making wallet integration a strategic imperative rather than a tactical option. Source: Cheqly
14. 73.1% of Gen Z use digital wallets weekly
Weekly digital wallet usage among Gen Z reaches 73.1%, establishing habitual engagement patterns that brands can leverage through wallet-based loyalty communications, point balance updates, and promotional offers.
The habitual weekly usage creates predictable touchpoint opportunities. Brands using Rivo's wallet pass integration can time communications to coincide with these usage patterns, delivering rewards and offers when Gen Z customers are already in their wallet and primed for purchasing decisions. Source: Chargeflow
15. 49.4% of Millennials use digital wallets weekly for in-store purchases
Millennial adoption follows close behind Gen Z, with 49.4% using digital wallets weekly for in-store purchases. Combined with strong ecommerce wallet usage, this demographic demonstrates cross-channel wallet engagement that benefits integrated loyalty programs.
The cross-channel behavior is particularly valuable because it enables unified customer experiences. When Millennials use wallet passes both online and in-store, brands can deliver consistent loyalty experiences across all touchpoints, improving program engagement and customer satisfaction compared to fragmented approaches. Source: Capital One Shopping
Platform-Specific Performance Metrics
16. Apple Pay commands 54% market share in U.S. in-store mobile wallet transactions
Apple Pay holds 54% of U.S. in-store mobile wallet transaction market share, up from 48.9% in 2023, demonstrating continued market consolidation. The platform's dominance in the iOS ecosystem makes Apple Wallet integration essential for brands targeting iPhone users.
The majority market share combined with iPhone's demographic skew toward higher-income consumers makes Apple Wallet particularly valuable for premium and mid-market DTC brands. Rivo's native Apple Wallet integration enables Shopify brands to deliver loyalty cards and membership passes directly to this high-value customer segment. Source: Chargeflow
17. Over 85% of U.S. retailers accept Apple Pay
Merchant acceptance has reached critical mass, with over 85% of U.S. retailers accepting Apple Pay. This infrastructure enables brands to deploy wallet passes with confidence that customers can access and use them across their shopping experiences.
Universal merchant acceptance eliminates the adoption barrier that plagued earlier mobile payment attempts. Customers no longer question whether they can use their digital wallet—they expect it to work everywhere. This expectation extends to loyalty and membership functionality within those wallets. Source: Chargeflow
18. Google Wallet serves 25 million U.S. users
Google Wallet reached 25 million users in the U.S. in 2024, representing 14.5% of the population. The platform accounts for 17% of in-store mobile wallet transactions and 20-25% of online payments, providing substantial reach for Android-compatible wallet passes.
While smaller than Apple's user base, Google Wallet's 25 million users represent a significant market segment that brands cannot ignore. The demographic differences between iOS and Android users often mean Android-compatible wallet passes reach different customer segments, making dual-platform support essential for comprehensive market coverage. Source: Chargeflow
ROI and Business Impact
19. U.S. mobile payment users averaged $3,693 in annual wallet transactions
Consumer spending through digital wallets has grown substantially, with U.S. mobile payment users each spending an average of $3,693 through this payment method in 2024—an 87% increase from 2020. This transaction volume demonstrates that wallet-engaged customers represent significant revenue potential for brands that maintain presence in their mobile wallets through loyalty cards, membership passes, and promotional offers.
The 87% spending increase over four years signals accelerating consumer comfort with mobile wallet transactions. As spending through wallets grows, the value of maintaining brand presence within those wallets increases proportionally. Wallet passes become more valuable each year as customers conduct more of their purchasing through these channels. Source: Capital One Shopping
How Rivo Enables Wallet Pass Success for Shopify Brands
The convergence of these statistics points to a clear conclusion: wallet passes have transitioned from innovation to infrastructure. Brands that integrate wallet functionality into their retention strategies—connecting loyalty points, VIP tiers, store credit, and membership benefits directly to customer mobile wallets—position themselves within the payment workflow customers already use daily.
Rivo's wallet pass solution enables Shopify and Shopify Plus brands to capitalize on these trends without technical complexity or legacy workarounds. With native integration for both Apple Wallet and Google Wallet, brands can deploy loyalty cards, membership passes, and promotional offers that appear alongside payment cards in the wallets customers check multiple times per week. The platform's 99.98% API uptime ensures reliable delivery while native Shopify integration means wallet passes automatically sync with customer accounts, point balances, and VIP tier status.
For brands serious about retention in 2026 and beyond, wallet pass integration isn't optional—it's fundamental infrastructure for meeting customers where they already transact.
Frequently Asked Questions
What is a wallet pass and how does it work in ecommerce?
A wallet pass is a digital card stored in Apple Wallet or Google Wallet that contains loyalty program information, membership details, coupons, or store credit balances. For ecommerce, wallet passes enable brands to maintain persistent visibility on customer devices, delivering push notifications for point balance updates, promotional offers, and membership benefits directly to the lock screen.
How can wallet passes improve customer retention rates?
Wallet passes improve retention by maintaining brand presence on customer devices between purchases. Unlike emails that get buried or apps that get deleted, wallet passes remain accessible in the native wallet app customers already use daily. This persistent visibility combined with push notification capabilities enables timely engagement that drives repeat purchases.
Are wallet passes secure for customers to use?
Wallet passes leverage the security infrastructure of Apple Wallet and Google Wallet, including device encryption, biometric authentication, and tokenization. Customer data is protected by the same security protocols that protect payment credentials, making wallet passes more secure than physical loyalty cards or stored browser cookies.
What are the main benefits of integrating wallet passes with a loyalty program?
Integration benefits include increased program visibility (wallet passes appear alongside payment cards), higher engagement rates through push notifications, reduced friction for point redemption, and improved data collection on customer preferences and location-based behaviors. Brands report higher redemption rates when loyalty information is accessible at the moment of purchase decision.
How do I measure the success of my wallet pass strategy?
Key metrics include wallet pass installation rates, push notification open rates, redemption rates for wallet-delivered offers, repeat purchase frequency among wallet pass holders versus non-holders, and average order value comparisons. Platforms like Rivo provide analytics dashboards tracking these metrics alongside broader loyalty program performance.
