Updated
Updated · PYMNTS.com · Jul 23
40% of Digital Bank Users Choose Mobile Wallets Over Plastic
Updated
Updated · PYMNTS.com · Jul 23

40% of Digital Bank Users Choose Mobile Wallets Over Plastic

1 articles · Updated · PYMNTS.com · Jul 23

Summary

  • 40% of digital bank customers now use mobile wallets as their default payment method, marking a shift from cards as a backup to plastic as the secondary option.
  • That change suggests mobile wallets are no longer just a convenience feature for these users but the primary way they pay day to day.
  • The finding points to a broader payments transition inside digital banking, where customer behavior is moving decisively toward phone-based transactions over physical cards.

Insights

Could your payment app soon become your primary bank, completely bypassing traditional financial institutions?
As mobile payments become default, who truly controls your money: you, your bank, or big tech?
With new threats like 'ghost tapping,' are digital wallets exposing you to more financial risk than you realize?