The global shift toward mobile payments, once seen as a youth-driven trend, has now evolved into a universal movement spanning generations, income levels, and geographies. According to the PYMNTS Intelligence report, “Pocket Revolution: How Mobile Wallets Are Changing Payments Worldwide,” digital wallet adoption is no longer confined to tech-savvy, urban Gen Z users; it has become a mainstream financial behaviour reshaping global commerce.

The study, based on insights from over 216,000 consumers in 11 countries representing half of global GDP, found that mobile wallets now account for 35% of online purchases and 21% of in-store transactions, marking increases of 5.2 and 10.9 percentage points respectively since 2022.

While Generation Z still leads in mobile-first transactions — with a 23% increase in in-store wallet use since 2022 — other demographics are rapidly catching up. Adoption among millennials, Generation X, and baby boomers is growing sharply, particularly in advanced markets such as Japan, Singapore, and the United Kingdom. The report attributes this growth to improvements in biometric authentication, faster settlement systems, and rising consumer trust in digital ecosystems.

The finding that “mobile-first payments are increasingly age-agnostic” suggests a behavioural rather than technological transformation. Payment habits, rather than hardware or access, are determining who uses mobile wallets, signalling a shift from innovation novelty to everyday necessity.

The perception of mobile wallets as tools for high-income or urban consumers is fading fast. The report notes that low-income users have increased their in-store wallet usage more than higher earners since 2022, positioning mobile wallets as low-cost financial tools that promote inclusion. This change represents a democratisation of digital payments, one where convenience, cost-efficiency, and accessibility drive adoption more than affluence or geography.

The gender gap in mobile wallet use is also closing. While 39% of men use mobile wallets compared to 34% of women, the difference is shrinking as digital banking, fintech innovations, and super apps bring financial control to a wider audience. Similarly, rural and small-town users are adopting mobile wallets at nearly the same pace as city residents, reflecting better connectivity and expanding acceptance networks.

The report highlights a growing preference for localised payment ecosystems over global platforms. Solutions like Brazil’s Pix and the Netherlands’ iDEAL outperform international rivals because they align with local payment habits and trust frameworks.

Interestingly, consumers are 50% more likely to use mobile wallets online than in stores, signalling that physical retail still has significant room for digital payment integration.

As digital payment ecosystems mature, the focus for merchants and financial institutions will shift from introducing wallet technology to optimising the user experience across all demographics.