Digital wallets were significantly more used in Asia-Pacific than in other parts of the world in 2024. Wallets accounted for over 75 percent of e-commerce payments in the region, compared to roughly 23 and 34 percent in Latin America and MEA, respectively. Wallets accounted for more than half of global e-commerce payment transactions, which is forecast to increase to 63 percent by 2030. Digital wallets are popular in China and India, with PhonePe in India and Alipay in China being notable brands. The APAC region also uses these wallets for mobile proximity payments in an offline POS environment.
Wallets to grow fastest in Latin America
Use of apps like Apple Pay or Google Pay in North America doubled between 2020 and 2025, although Asia's market size was significantly larger. This is according to a regional forecast on payments conducted with mobile wallets. Brazil is the leading country in Latin America for digital wallets. Two of Latin America's most used wallets come from Brazil. Brazilian neobank Nubank had more than 100 million users in 2025. The wallet from Argentian e-commerce giant Mercado Libre, Mercado Pago, had noticeably fewer users.
Is Apple Pay big in either Asia or Latin America?
Apple Pay was relatively more popular in the United States, Canada, and the United Kingdom than in other countries. One out of 10 respondents from Brazil indicated they had used Apple Pay in a store or restaurant between in 2025 - significantly less than the 50 percent of respondents who said they did so from the UK.