A PYMNTS Intelligence study reveals that 36 percent of Gen Z shoppers abandoned carts in the past month because their preferred digital wallet was unavailable, 1.7 times the overall average. Millennials follow closely at 31 percent, while Gen X and older groups show lower rates of 15 percent and 8.3 percent, respectively. With Gen Z’s spending power projected to reach $12 trillion by 2030, retailers ignoring digital wallets risk massive profit loss.
Digital wallets now cover 40 percent of online purchases and 17 percent of in‑store spending in 2025, and 87 million U.S. consumers used them online in the last 30 days. Gen Z leads adoption at 47 percent, driving a shift toward $4.1 trillion in digital‑wallet transactions by 2030. Financial strain amplifies the issue: 29 percent of paycheck‑to‑paycheck consumers abandon carts when their preferred method is missing, compared to 11 percent of others.
PayPal Pay Later is the top BNPL choice, preferred by 20 percent of consumers over Klarna’s 12.4 percent. Overall, 33 percent of digital wallet users say they would delay, switch merchants, or skip a purchase if their wallet isn’t accepted.
Source: Engadget · Summarized by HeadlinesBriefing