AmiSight 12/8: From Cash to Clicks: The Rapid Rise of the Digital Wallet
- Ami Kassar
- 1 day ago
- 1 min read
That 20 dollar bill Aunt Martha stashes in the Christmas card is like a novelty for most Gen Zers.
Business Insider reports that some 4.4 billion people – about half of people worldwide – are using digital wallets, with that number expected to grow 35% by 2030, says tech strategist firm Juniper Research. Adults 24 and younger are the most likely to pay with their phones, using them to make 45% of their purchases, according to a 2025 report from the Federal Reserve.
Although cash is more likely to be used by older consumers for everyday items, younger shoppers see cash more as “fun money” to buy themselves a treat.
Since contactless payments became more popular during the pandemic, the use of digital wallets has become more standard. Digital IDs are now accepted at more than 250 U.S. airports for domestic flights, and more and more daily activities can be done with just a phone, make not only cash obsolete, but also back pocket wallets.
Webinar of the Week
Join Lynn Ozer for a 45-minute deep dive into SBA equity requirements and learn how to confidently structure acquisition and startup deals that get approved — Register here! https://us02web.zoom.us/webinar/register/WN_yYgCKJk9TyiEukdC4RWzlw
