While Alipay and its 650 million users appear to be in the lead, Google Pay is leading in both number of transactions and volume. (Photo: Shutterstock)

While Alipay and its 650 million users appear to be in the lead, Google Pay is leading in both number of transactions and volume. (Photo: Shutterstock)

Alipay, WeChat Pay, Apple Pay, Google Pay and Paypal, which now have 2.4bn users, are leading a movement away from cash and towards credit cards.

The digital wallet is already the most widely used payment method, with credit cards, debit cards, bank transfers and cash on delivery all being used, according to . But in the future--in 2024--more than one in two people will use a digital wallet every day.

"Fear of contracting the coronavirus at high-traffic ATMs as well as retailers' refusal to accept cash have been the main drivers of the increase in the use of digital mobile wallets," the report says.

Revenues from these mobile apps, led by Alipay (650m users), will triple by the end of the year, from $550trn in 2015 to $1,639.50bn.

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This story was first published in French on . It has been translated and edited for Delano.