For this I can thank the existence of electronic wallets or e-wallets for short.
As many people know, an e-wallet is a digital tool for transferring funds or making transactions for goods and services. Within an e-wallet, I can store credit cards, coupons, loyalty memberships, various kinds of tickets, and other items I could have otherwise stored in my traditional wallet.
In 2021, 43.2 percent of smartphone owners used mobile payments via e-wallets, and that number is projected to reach over 50% by 2025, according to market research company Insider Intelligence1. A significant increase in digital payment usage is owed to changing consumer habits caused by the COVID pandemic — during which there was a 29% increase.
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