Gen Z driving the shift from cards to digital wallets, new research from global payments suggests

Global Payments (NYSE: GPN) announced today that its Worldpay® business released its 11th annual Global Payments Report, revealing that Americans remain attached to plastic – even as younger generations are swapping physical wallets for digital. “The Global Payments Report stands as the definitive guide to the evolving payments landscape, offering insights into how consumers and […] The post Gen Z driving the shift from cards to digital wallets, new research from global payments suggests appeared first on fintechnews.org .

6 April 2026 at 05:22 pm

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Gen Z driving the shift from cards to digital wallets, new research from global payments suggests

Global Payments, through its Worldpay business, has released its 11th annual Global Payments Report, offering a comprehensive look at the evolving payments landscape. The report, which provides insights into consumer and business transactions across 42 global markets, highlights the growing shift from physical cards to digital wallets, particularly among younger generations.

Cameron Bready, the chief executive officer of Global Payments, emphasized the importance of the report in understanding the changing dynamics of payments. He stated, “The Global Payments Report stands as the definitive guide to the evolving payments landscape, offering insights into how consumers and businesses transact across 42 global markets.”

One of the key findings of the report is the continued preference for plastic cards in the United States, despite the rise of digital wallets. The U.S. remains one of the world's most card-led markets, with direct card usage accounting for 49% of all online spending and 71% of in-store spending in 2025. Globally, direct card usage is strong but represents a lower share, at 31% of online and 48% of in-store spending in the same year.

In contrast, the Asia-Pacific (APAC) region shows a more pronounced difference, with direct card usage accounting for just 15% of all online spending and 20% of all in-store spending in 2025. This is less than half the global average and significantly lower than the U.S. usage. In the U.S., people spent twice as much online using credit cards than debit cards, and in stores, credit card spending outpaced debit by 43%.

However, the report also forecasts a decline in direct card usage in the U.S. as younger generations increasingly adopt digital wallets. Gen Z, in particular, is driving this shift, with many members of the generation opting for digital payment methods over traditional plastic cards. This trend is expected to accelerate as digital commerce continues to grow and payment preferences diversify.

The Global Payments Report underscores the need for businesses to adapt to these changing consumer behaviors. As payment preferences evolve, companies must embrace new technologies and payment solutions to remain competitive. Global Payments, through its expertise and global reach, is well-positioned to help clients navigate these emerging trends, from real-time payments to cross-border innovation.

In conclusion, the 11th annual Global Payments Report provides valuable insights into the shifting payments landscape, highlighting the persistence of card usage in the U.S. and the growing preference for digital wallets among younger generations. As the world moves towards a more digital future, businesses must be agile and adaptable to stay ahead in the competitive payments industry.

Source: fintechnews.org

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