A digital wallet is a container where you can store and access How popular are digital wallets? digital assets, credentials, and other useful items, such as tickets Well, for one of the big three functions—payments—digital and keys. Another software component, most often called an wallets rule. As shown in FIGURE 2, digital wallets are now the agent, can put items into a wallet, take items out of a wallet, or world’s leading payment method for both e-commerce and process items in a wallet. While the wallet is the container, the point-of-sale retail. agent is the mover and shaker. In 2021, the value of all digital wallet transactions came to an 3 astounding U.S. $15.9 trillion. By 2025, digital wallets will likely 4 be even more popular. The fact is that digital wallets are not coming some day in the future. They’re here now, used by billions of people. FIGURE 2: GLOBAL TRANSACTIONS MADE WITH DIGITAL WALLETS E-COMMERCE PAYMENT E-COMMERCE PAYMENT POS RETAIL PAYMENT POS RETAIL PAYMENT METHODS 2021 METHODS 2025 (PROJECTED) METHODS 2021 METHODS 2025 (PROJECTED) Digital wallet 49% Digital wallet 53% Digital wallet 29% Digital wallet 39% Credit card 21% Credit card 19% Credit card 24% Credit card 22% Other 18% Other 15% Debit card 23% Debit card 22% Debit card 13% Debit card 13% Cash 18% Cash 10% Other 7% Other 7% Source: The Global Payments Report 2022, Worldpay from FIS WHY THE WORLD NEEDS AN OPEN SOURCE DIGITAL WALLET RIGHT NOW 7