Australia’s digital wallet market to surpass $130b in 2025

Increasing use of QR and NFCC payments are supporting this growth.

Digital wallet adoption has increased rapidly in Australia, with transaction values expected to grow 20.8% to $132.9b (A$201.3b) in 2025, according to GlobalData.

“Like many markets in Asia-Pacific, digital wallet adoption is on the rise in Australia, supported by rising consumer preference for mobile payments, and proliferation of digital wallet brands such as Google Pay, Apple Pay, and Samsung Pay,” said Shivani Gupta, lead banking and payments analyst at GlobalData.

Increasing usage of QR-code based payment solutions and NFCC payments is also expected to support this growth, Gupta added.

Digital wallets are gaining traction, with 39% of debit card and 33% of credit card transactions conducted via digital wallets as of October 2024, according to data from the Reserve Bank of Australia (RBA).

“Digital wallet transaction value is expected to register a compound annual growth rate (CAGR) of 13.7% between 2025 to 2029 to reach A$336.1b ($221.9b) in 2029,” said Gupta.

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