Mobile wallet adoption has surged globally, processing over $1 trillion in transactions in 2021 and projected to reach $12 trillion by 2026. Growth is fueled by security features like biometrics and tokenization, ease of use, QR code payments, and real-time transactions that expand financial inclusion in developing markets. For financial institutions, wallets offer opportunities through push provisioning, partnerships, or independent launches. Merchants benefit from faster checkouts, reduced fraud risk, and loyalty integration. As wallets evolve into super apps, they reshape payments and customer engagement.

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