Wallet Express: Empowering European consumers to choose

In a world where technology is part of our everyday lives, the way we make payments is no exception. The evolution of conventional wallets into digital companions is revolutionizing the way we make payments, conduct transactions, and manage our finances.

This shift has led to the rapid and astounding growth of digital wallets, making them a preferred choice in the modern financial landscape. Juniper Research predicts digital wallet users will exceed 5.2 billion globally by 2026, up from 3.4 billion in 2022 (a growth of over 53%)[1].

The ability to pay with wearables

Wearable contactless payments refer to the ability to make payments using wearable devices, such as smartwatches, fitness trackers, wristbands, bracelets, or rings.

According to a Mastercard study on wearable payments in Europe, more than a third of wearable ring owners also possess a smart watch, and 70% of them use a wearable device for making payments[2].

Mastercard has led this journey by collaborating with issuers to facilitate the implementation of a wide variety of digital wallets with each bank, thus proving their customers with choice.

What is Wallet Express?

We are thrilled to share an exciting announcement on a newly launched Mastercard program: Wallet Express, a program that streamlines the process of enabling multiple digital wallets simultaneously, offering banks and card issuers a swift and cost-effective means of expanding their offerings. 

By incorporating Wallet Express issuers can provide their customers with various digital wallets. In turn, consumers have a wide range of ways to pay via wearable devices. And who doesn’t want a simple payment experience with their preferred digital wallet?

The program currently supports different digital wallets including Garmin Pay, Xiaomi Pay, Amazfit, as well as integrators Fidesmo, Digiseq and Tappy who in turn enable several wearable brands such as Swatch Pay, LAKS, Pagopace, Tapster, Twinn, Rosan Pay, Timex, Liu Jo, and more. To date, over 90 issuers that represent 700+ banks, with over 100 million cards have signed up to be part of the program, ultimately leading to greater payment choices for consumers. 

Partnering with Samsung Wallet

As part of the Wallet Express program in 2024, we’re excited to share that we have partnered with Samsung to offer one of the most used digital wallet apps across Europe to more banks and card issuers. Samsung Wallet brings together the mobile payment experience of Samsung Pay and Samsung Pass into a more comprehensive digital wallet that allows users to organise digital keys, boarding passes, identification cards and more, in one, easy-to-use and secure mobile application.

“We are excited to be joining Mastercard’s Wallet Express program to give consumers more flexibility to make payments almost anywhere they need to. Millions of people already choose Samsung Wallet and this partnership will give more people the opportunity to use the safe and secure Samsung Pay service on their Galaxy device,” shares Teg Dosanjh, Vice President, Samsung Electronics Europe.

Choice is everything

At Mastercard we work to create a world where consumers have the power to choose. We believe that the future of payments lies in the convergence of physical and digital worlds, where consumers can pay with their preferred digital wallet, regardless of the device they choose to carry.

Learn more about Wallet Express

[1] https://www.juniperresearch.com/press/digital-wallet-users-exceed-5bn-globally-2026

[2] Mastercard Smart Wearables Study, 2023.