Some key insights:
-
In 2013, Alipay surpassed Paypal as the world’s most popular mobile payment platform, and still holds the top spot nearly ten years later with 1.3 billion users.
-
WeChat Pay and Apple Pay are in second and third, with 900 million and 507 million users respectively.
-
Google Pay has overtaken Paypal; it now has 421 million active users, which is over 40 million more than Paypal’s 377 million.
-
The increased popularity of digital wallets is likely contributing to reduced cash-use; the top 10 countries closest to a cashless society include Norway, Finland, New Zealand and the UK.
Below are the 10 most popular digital wallets in 2022.
|
Number of users of leading mobile payment platforms worldwide 2022 |
|
|
Digital wallet |
Users |
|
Alipay |
1.3 Billion |
|
WeChat Pay |
900 Million |
|
Apple Pay |
507 Million |
|
Google Pay |
421 Million |
|
PayPal |
377 Million |
|
Paytm |
333 Million |
|
PhonePe |
300 Million |
|
Samsung Pay |
140 Million |
|
Venmo |
52 Million |
|
Cash App |
36 Million |
The top 10 countries closest to a cashless society
|
Rank |
Country |
Percentage of people with access to the internet (%) |
Percentage of people with a credit card (%) |
No. of ATMs (per 100,000 adults) |
Cash-based payments (%) |
Unbanked population (%) |
Cash reliant index score (out of 10) |
|
1 |
Norway |
97 |
71 |
32 |
2 |
0 |
1.54 |
|
2 |
Finland |
92 |
63 |
37 |
2 |
0 |
1.87 |
|
3 |
New Zealand |
92 |
61 |
54 |
2 |
1 |
2.06 |
|
4 |
Hong Kong |
92 |
65 |
52 |
4 |
5 |
2.10 |
|
5 |
Sweden |
95 |
45 |
28 |
1 |
0 |
2.10 |
|
6 |
Denmark |
97 |
45 |
43 |
1 |
0 |
2.15 |
|
7 |
Switzerland |
94 |
66 |
94 |
2 |
2 |
2.21 |
|
8 |
United Kingdom |
95 |
65 |
99 |
1 |
3 |
2.22 |
|
9 |
Singapore |
92 |
49 |
54 |
1 |
2 |
2.32 |
|
10 |
Netherlands |
91 |
39 |
36 |
4 |
0 |
2.46 |
Please find the full press release below. You can view the full research here:
https://merchantmachine.co.uk/
