\u201cWallets is our word of the year,\u201d Legters said, noting that across both its merchant and consumer businesses, \u201cthe one thing that seems universal is the wallet.\u201d<\/p>\n
After a decade defined by the digitization of checkout and the rise of alternative payment methods, wallets are becoming the organizing layer of commerce, where identity, funds, rewards and brand engagement converge. And unlike more speculative trends, wallets are already embedded in the daily habits of billions of users.<\/p>\n
Perhaps the most revealing insight is that many consumers don\u2019t realize they\u2019re using wallets at all.<\/p>\n
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\u201cI\u2019ve talked to multiple consumers where they\u2019ve said, \u2018Yeah, no, I don\u2019t use wallets,\u2019\u201d Legters said, adding that just a few questions later, it becomes clear they keep funds inside apps, store balances for future purchases or manage segmented spending through digital platforms.<\/p>\n
The wallet is embedded, invisible and normalized. And in 2026, it might just be set to have its best year yet.<\/p>\n
Measuring the Wallet Economy<\/p>\n
If 2026 belongs to wallets, how should success be measured?<\/p>\n
Legters pointed to \u201cshift mix,\u201d or the proportion of total payment dollars flowing through wallet rails versus traditional systems. The goal is not elimination but rebalancing.<\/p>\n
\u201cAlmost no payment methodology that\u2019s been invented has ever been retired,\u201d he said, noting that in a payments landscape of abundance, wallets can prove to be particularly valuable for both consumers and merchants.<\/p>\n
\u201cThe average consumer used to participate in maybe one to one-and-a-half wallets, and now in certain markets it\u2019s going up to six or seven,\u201d Legters said.<\/p>\n
One of the reasons for this growth is that instead of accessing pooled funds from a single bank account, consumers now distribute money across multiple wallet ecosystems. That includes converting rewards points, using crypto balances, toggling between debit and credit sources, and managing funds across borders.<\/p>\n
\u201cGive me access to my assets, wherever they are, in the wallet; and I\u2019ll use your wallet all the time,\u201d Legters said.<\/p>\n
Cross-border capabilities are also especially critical. Wallet adoption is often strongest among internationally mobile consumers who find traditional banks too regionally constrained. Seamless foreign exchange and global payouts are no longer premium features but becoming baseline expectations.<\/p>\n
From Loyalty to \u2018Wallet Marketing\u2019<\/p>\n
On the merchant side, the lingering misconception is regulatory fear. Retailers assume that launching wallet functionality means entering the banking business.<\/p>\n
In reality, Legters argued, wallets can streamline back-office processes and reduce costs without exposing companies to full financial regulation. Smart merchants are also viewing wallets not merely as payment conduits but as engagement engines.<\/p>\n
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