How Digital Wallets and Instant Card Issuance Are Transforming Secure Payments Worldwide

Can you remember the last time you carried cash? If the answer is no, you’re not alone. According to recent industry reports, global cash usage now sits at just 80% of 2019 levels, declining by 4% annually as digital payment methods gain momentum. 

Digital wallets are now central to this transformation, enabling users to store payment cards, IDs, and credentials securely on their smartphones. Whether it’s tapping a phone at checkout, paying for public transport, or handling cross-border transactions, mobile wallets deliver frictionless, encrypted, and scalable payment experiences. 

Digital Wallets: The Future of Online Transactions

Forecasts suggest that by 2030, nearly 60% of all online transactions will be processed via digital wallets. In response, financial institutions are accelerating their efforts to meet this growing demand. One of the key capabilities setting providers apart is the ability to issue digital cards instantly. 

Powering Digital Payments at Scale

The rise of cashless transactions is underpinned by innovations in security, convenience, and accessibility. Financial institutions are modernising rapidly, offering virtual, digital, and physical cards that integrate seamlessly with Apple Pay, Google Pay, Samsung Pay, and other platforms. 

Instant issuance plays a crucial role in this evolution, allowing users to activate virtual cards in real time. Features like EMV tokenisation replace traditional card details with encrypted digital tokens – ensuring enhanced transaction security. These technologies are designed for seamless integration with existing banking systems, helping financial institutions deploy mobile-first payment solutions without overhauling their infrastructure. 

Security remains a core priority. Biometric authentication, encryption, and robust fraud prevention frameworks ensure that digital wallet transactions are reliable, secure, and user-friendly. 

Strengthening the Global Digital Wallet Ecosystem

As digital wallets reshape consumer and business transactions, Thales continues to play a key role in advancing the global payments ecosystem. 

In Italy, the integration of Google Pay with BANCOMAT represents a significant milestone, supporting secure, frictionless payments and enabling financial institutions to scale their digital offerings. 

Meanwhile in Norway, the adoption of contactless payments has accelerated. Since December 2024, Vipps has activated over one million bank accounts for contactless payments via Thales’ D1 platform. The success was immediate: more than 200,000 cards were activated within the first 24 hours of the launch. Initially supporting BankAxept cards, upcoming phases will expand to include Visa and Mastercard, enabling cross-border transactions and highlighting Thales’ commitment to innovation in mobile-first payments. 

Driving the Future of Digital Wallets

The payments landscape is evolving rapidly, shaped by innovation and strategic collaboration. Mobile-first technologies are redefining financial services, with an emphasis on making digital wallets more secure, scalable, and interoperable. 

Thales is an active participant in key European initiatives such as the EU Digital Identity Wallet program – an effort by the European Commission to deliver secure, interoperable digital identity for all EU citizens by 2026. 

Recognition of our leadership in this space came in 2024 when Juniper Research ranked Thales as the world’s top modern card issuing platform, citing the D1 platform’s role in enabling banks, fintechs, and payment providers to launch digital-first programs at scale. 

A Cashless Future, Securely Delivered

From instant issuance and advanced tokenisation to biometric authentication, Thales continues to drive the evolution of digital wallets. These solutions are enabling financial institutions worldwide to expand their digital ecosystems securely and efficiently. 

As the shift toward cashless commerce continues, Thales remains committed to building secure, future-ready solutions that empower both businesses and consumers in an increasingly digital financial world.