After sitting on the sidelines the last few years, the digital wallet is finally gaining traction with consumers. According to, a new Juniper Research study projects that the number of mobile wallets using contactless technology will reach 200 million by the end of 2016, representing growth of more than 100% since the end of 2014. Consider also a new Wristly survey of Apple Watch owners that found that 80% of respondents in the U.S. and U.K. have already used Apple Pay.

So while current reports of U.S. digital wallet adoption remain lackluster, a sneak peek into the future reveals a different paradigm.    

“Right now, having a digital wallet on your phone does not mean you can give up carrying plastic cards,” Amy MacMullen, senior product manager for CO-OP Financial Services said. “You still have to find a merchant equipped with near field communication technology (NFC) in order to use a digital wallet in-store, and many merchants just aren’t there yet. But, we expect that dynamic to change soon.”

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