The outlook for digital wallets is promising in emerging markets, where service providers can build on
the successful base of mobile money services that serve a genuine consumer need. However, the
prospect of digital wallets becoming widely deployed, mass-market services in mature markets is less
certain. A positive scenario would see fragmentation give way to consolidation, leaving a couple of
robust digital wallets in each market with an active user base. However, this can come about only if
the issues outlined in this report series are addressed – if they are not then consumers will view digital
wallets as little more than packaging, and will instead gravitate to standalone applications whose
benefits are clearly articulated.