WU - EWallet winners set to fatten up in a $10 trillion market - Wells Fargo

The growth in "eWallets" has the payments mechanism poised to break through into mainstream use, Wells Fargo says - with no small amount of help from the COVID-19 pandemic. At about 22% of global point-of-sale, and 42% of e-commerce payments, eWallets are expected to account for 30% and 52% by 2023 - which translates to about $10 trillion in volume, Timothy Willi and team write. Underpinning that growth will be advancing technology, a changing regulatory landscape and a growing ecosystem of services "which drives adoption through an enhanced value proposition for both merchants and consumers." And it says that its coverage universe in FinTech and Payments are facilitators of that change and are well positioned to benefit. And those with most to gain from eWallet evolution have proprietary wallet apps of their own - Square (SQ), PayPal (PYPL) and Shopify (SHOP) - that consumers will want to "carry" on phones

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EWallet winners set to fatten up in a $10 trillion market - Wells Fargo