Forbes Mobile Wallet Survey

47%of consumers spend more money when using digital wallets compared to cards.

A new survey by Forbes Advisor uncovers how consumers are using digital wallets. In particular, how digital wallets are affecting spending habits and shaping the way people shop.  Here are 4 takeaways from the study.

53% Use Digital Wallets More

53% of consumers say they used digital wallets more often than traditional payment methods, such as paying with cash or swiping a physical debit or credit card.

47% Spend More with Digital Wallets

47% of consumers say that having access to digital wallets makes them spend more than when they use physical cards or cash.

Gen Z Spends the Most

According to the survey, 61% of GenZ consumers say that having access to digital wallets makes them spend more compared to 41% of GenX.

51% Will Stop Shopping with You

Surprisingly, 51% of consumers say they would stop shopping with a merchant that doesn’t accept payments from digital wallets.