The payments landscape has undergone major changes in recent years, with digital wallets leading the digital transformation of commerce. More and more consumers are using them not only for contactless payments but also as a replacement for traditional tickets for transportation, performances, and concerts.
Digital wallets, or simply wallets, are applications that enable contactless transactions through NFC (Near Field Communication) technology, using smartphones or smartwatches, replacing physical cards and cash.
They securely store multiple card details simultaneously (debit, credit, or prepaid) and allow users to set a default card while easily and quickly choosing another card at the moment of payment. The app is opened after authentication via biometric data (fingerprint, Face ID) or the device’s passcode, ensuring safe and fast transactions.
According to coinlaw statistics, by 2025 digital wallets are expected to represent more than 50% of global e-commerce transaction value, up from 40% in 2021. Meanwhile, digital wallet users are projected to reach 5.2 billion by 2026, representing over 60% of the world’s population.
Ticket storage
At the same time, wallets can store electronic tickets for events and performances, eliminating the often time-consuming search through files or emails on a phone.
The e-ticket contains all necessary information (event name, location, date, and time), along with a QR code for validation. For transportation, travel and passenger details are also included, while the wallet provides real-time notifications. For example, if a boarding pass is stored, the smartphone or smartwatch will receive alerts about gate openings or any changes and delays.
Digital wallets gaining ground among Gen Z
For Gen Z, digital payments are not just an additional option but the preferred transaction method, mainly due to the security, convenience, and speed they provide.
This data comes from a survey commissioned by Visa at the Hellenic Confederation of Commerce and Entrepreneurship (ESEE) Institute, which reveals that 8% of young Greeks use a digital wallet, while in online shopping this figure rises to 11%. However, the actual numbers are likely higher, as many respondents confuse card payments with digital wallets.
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