From Pymnts · PYMNTS · · 1m 30s
Missing digital wallets cost retailers 56 million sales
Nearly half of cart abandoners wanted to pay with a digital wallet, but the option wasn't there when they needed it.
In brief
Nearly half of cart abandoners wanted to pay with a digital wallet, but the option wasn't there when they needed it. 47% of shoppers who abandoned carts wanted a digital wallet option, representing 26.3 million lost sales for U.S. merchants. Originally reported by Pymnts.
Payment gaps kill nearly closed sales
21% of U.S. consumers abandoned an online cart in 30 days because their preferred payment method wasn't available. That's nearly 56 million shoppers.
Digital wallets top the missing list
47% of cart abandoners wanted to use a digital wallet but couldn't. That equals 26.3 million consumers who left without buying.
Gen Z walks away fastest
36% of Gen Z abandoned carts over missing payment methods, compared to 31% of millennials and just 8% of boomers. The wallet gap hit 28% of Gen Z shoppers.
Financial stress amplifies the problem
29% of paycheck-to-paycheck consumers who struggle with bills abandoned carts when their payment method was missing. That's three times the 11% rate for financially stable shoppers.
Wallet users will switch merchants
33% of digital wallet users said they'd delay, switch stores, or skip a purchase if their wallet wasn't accepted. Nearly half of Gen Z would change merchants entirely.
“Checkout is the last handoff in a relay, and a missing payment option can drop the baton just before the finish.”
AI agents need wallet integration
52% of wallet users would link their wallet to an AI shopping agent within two years. Merchants accepting wallets now build the foundation for automated commerce later.
The big picture
47% of shoppers who abandoned carts wanted a digital wallet option, representing 26.3 million lost sales for U.S. merchants.
