The Impact of Digital Wallets
On Consumer Spending


As mobile payments have evolved, digital wallets have been widely promoted to consumers as a more convenient, rewarding, and secure way to pay. While these features and benefits may resonate with consumers, financial institutions have to grapple with the business case for offering digital wallets to their cardholders. Do digital wallets deliver a compelling business case to card issuers, or are they simply a distraction moving spend from one carded form factor to another? In order to determine the impact that digital wallets have actually had on consumer spend behavior, Mastercard conducted a customized analysis using transactional data. The 2017 Mastercard Advisors Digital Wallet Study is a data-driven analysis of the digital wallet landscape in the U.S. that yielded actionable insights into how issuers can promote digital wallets to unlock meaningful growth opportunities across their consumer credit card portfolios.

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