The e-commerce market continues to grow at breakneck speed. Online sales revenue in the U.S. topped $1 trillion in 2020 for the first time and the market is still growing at more than 10 percent per year1. This growth goes hand in hand with another rising trend – the convergence of physical and digital shopping experiences. Consumers now expect the best of both worlds and this need is increasingly being met through digital wallets.

Here are five ways digital wallets are changing customers’ expectations for speed, convenience and value.

1. Anytime, anyplace payments

We live in an on-demand world. We expect to be able to research at whatever time we want online, approve an invoice as soon as it arrives via email and even get a pizza delivered via our smartphone at midnight. Most of us keep our phones with us at all times, and with a digital wallet, our cards and banking details are with us too.

2. Personalized customer journeys

In a competitive sales market, being able to offer a payment journey that feels personalized to the needs and interests of the customer can be a key differentiator. This means more functionality to foster peer-to-peer payments, or to help people split meals with friends or bills with roommates.

3. Integrated loyalty

Everybody loves a deal, and digital wallets allow loyalty programs such as air miles and store loyalty programs to be seamlessly integrated. Google Pay works with brands such as Burger King, Panera, Etsy, Warby Parker and many others to provide deals and discounts that are accessible via the digital wallet.

4. Integrated banking

Some payment apps, like Venmo and Google Pay, can integrate P2P payments. This enables a user to split a restaurant or rideshare bill between friends and choose whether their share is drawn directly from their bank account or a debit or credit card.

5. Invisible payments

Chances are you have already made this type of payment. Think of Uber, or a subscription wine or beer service, where the payments take place instantly and automatically, without the need for repeated authorizations. The checkout is disappearing into the background of each transaction—customers want to be able to shop securely, seamlessly, and with a minimum of interactions.

Connect with your J.P. Morgan representative to find the right digital wallet solution for your business.


1. J.P. Morgan 2020 E-commerce Payments Trends Report: Data has been provided to J.P. Morgan by Edgar, Dunn & Company and WPL via Bureau of Labor Statistics and eMarketer, 2020

The views and opinions expressed herein are those of the author and do not necessarily reflect the views of J.P. Morgan, its affiliates, or its employees. The information set forth herein has been obtained or derived from sources believed to be reliable. Neither the author nor J.P. Morgan makes any representations or warranties as to the information’s accuracy or completeness.  The information contained herein has been provided solely for informational purposes and does not constitute an offer, solicitation, advice or recommendation, to make any investment decisions or purchase any financial instruments, and may not be construed as such.
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