The rise of digital wallets: A look at the UK’s payment revolution

Digital wallets have emerged as a transformative force in how people pay for things in recent years as digital technology, especially via mobile phones, has accelerated in the 21st century. The first ever digital wallet is widely accepted to have been created by Coca-Cola in 1997 in Helsinki, enabling consumers to make purchases at a vending machine via text message. Nearly three decades later we are seeing a rapid shift in consumer behavior as the once niche technology reaches maturity and establishes itself in the mainstream.

Digital wallets are reshaping the landscape of commerce in the UK. By exploring the rise of this technology, we can also look to see how digital wallets could be fueling growth, consumer confidence, and its broader impact on retail and commerce.

Digital wallets reach the mainstream