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Digital Wallets

Redefining the way we pay

Overview

Digital wallets (also known as mobile wallets or virtual wallets) are online payment tools that enable users to carry out various payments and transactions via an app. They are commonly used along with mobile payment systems, enabling customers to make payments with their smartphones. Digital wallets aim to address the hassle of carrying physical wallets, allowing people to store digitized versions of credit cards, debit cards, as well as as loyalty cards, coupons, and transit tickets, in one centralized location.

While some digital wallets offer the full suite of features, others focus on specific areas such as in-store payments, online payments, or P2P transactions. Although digital wallets don't typically allow users to store funds directly within the app, a few also allow users to store funds in a cash account that can be linked to a bank account or credit card.

Note: Currently, we do not actively cover this industry, but we have identified it as a potential industry to cover.

More details

Market Mapping


Incumbents
Growth
Early
Seed
Pre-Seed
Semi-closed wallets
?
Open-loop wallets
?
Closed wallets
?
White-label platforms
?
Sendit.Money
Sendit.Money
Sendit.Money
Sendit.Money
Microsoft
JP Morgan
Apple
US Bank
Google
Uber
Meta (Facebook Pay)
Samsung
Skrill
Alibaba (Alipay)
Revolut
YapStone
PayNearMe
Yoyo Wallet
Paga
Ingo Money
PayEase
Cash App
Papaya
NG.Cash
Mishipay
Moni Technologies
MinkasuPay
Sift Wallet
Remitap
EverZero
Sendit.Money
Pay One Snap
Stack
Bank of America
Citibank
Capital One
Google
Wells Fargo
Paypal
American Express
Mastercard
Visa
Garmin
Lydia
Paydiant
Costco
Wendy's
Walmart
Macy's
Amazon
Target
eBay
Kroger
Dunkin Donuts
Starbucks
7 Eleven
Wwwash
Temenos
Stripe
Rapyd
Dwolla
Payline Data
Veritran
Citcon
Meawallet
Up n Go
Rehive
Wallet Factory
Velmie
Trimplement
SDK.Finance
Mangopay
HolyWally

The Disruptors


Semi-closed wallets

?

Disruptors

?
Funding in USD Millions
PayNearMe
73
Papaya
65
Yoyo Wallet
60
Paga
37
Ingo Money
26
PayEase
15
NG.Cash
10
Cash App
0
Watchlist
?
Mishipay
Moni Technologies
MinkasuPay
Sift Wallet
Remitap
EverZero
Sendit.Money
Pay One Snap
Stack

Open-loop wallets

?

Disruptors

?
Funding in USD Millions
Lydia
263
Paydiant
35

Closed wallets

?
Watchlist
?
Wwwash

White-label platforms

?

Disruptors

?
Funding in USD Millions
Rapyd
770
Dwolla
72
Citcon
48
Payline Data
7
HolyWally
1
Veritran
1
Watchlist
?
Meawallet
Up n Go
Rehive
Wallet Factory
Velmie
Trimplement
SDK.Finance
Mangopay

PayNearMe

PayNearMe is a provider of web and mobile-based cash payments platform designed to facilitate online purchases and bill payments. The company's platform helps users to pay with cash for a range of goods and services from companies in e-commerce, property management, consumer finance, and transportation, enabling businesses, government agencies, and retail stores to digitize their cash collection process, reduce the headache of traditional cash and money order acceptance. PayNearMe's technology provides a simple way for lenders to collect payments through an intuitive, consistent experience for their customers. In addition, payment reminders and mobile wallet integration drive more on-time payments. PayNearMe was founded in 2009 and is headquartered in Santa Clara, California, USA.

Segment:
Semi-closed wallets
Total funding:
USD 73.2 million
Disruptor Funding History

Semi-closed wallets:

PayNearMe
Papaya
Yoyo Wallet
Paga
Ingo Money
PayEase
NG.Cash
Cash App
Mishipay
Moni Technologies
MinkasuPay
Sift Wallet
Remitap
EverZero
Sendit.Money
Pay One Snap

Open-loop wallets:

Lydia
Paydiant

Closed wallets:

Wwwash

Notable Investors


No investor data is available

Funding data are powered by Crunchbase
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