Helsinki, Finland — 27 February 2025 — Mobey Forum, the global industry association empowering banks and financial institutions to shape the future of digital financial services, is pleased to announce the release of its latest report, “Account-Based Digital Wallets: Navigating the Future of Payments.” Produced by the Digital Wallet Expert Group, this comprehensive report delves into the accelerating shift from card-based to account-to-account (A2A) wallets, highlighting the opportunities, challenges, and strategic imperatives for financial institutions.
The adoption of A2A wallets is gaining momentum globally, driven by regulatory initiatives, evolving consumer payment preferences, and increasing demand for instant, cost-efficient, and seamless transactions. This report analyses the competitive landscape, the role of value-added services (VAS), and the interplay between domestic and global payment solutions.
Marina Repo (Nordea), Co-Chair of the Digital Wallet Expert Group, emphasises the significance of this shift:
“We are witnessing a fundamental change in the way people pay. The rise of A2A wallets is a global trend driven by regulatory developments, but also by a growing demand for faster, frictionless, and more efficient digital payments. As real-time payment infrastructures expand, account-based wallets will play an increasingly central role in the future of financial services.”
One of the report’s key findings is how A2A wallets enable banks to strengthen their role as custodians of customer relationships. While global technology firms continue to expand their footprint in digital payments, account-based wallets provide banks with a critical high-frequency touchpoint to engage customers, offering integrated payment, identity, and loyalty solutions.
Cédric Sieber (Swiss PostFinance), Co-Chair of the Digital Wallet Expert Group, highlights the strategic advantage for banks:
“Banks have a unique opportunity to leverage account-based wallets to reinforce their direct relationship with customers. By integrating payments seamlessly with banking services and value-added features, banks can enhance customer engagement, reduce reliance on third-party payment providers, and create sustainable digital wallet ecosystems.”
Another major theme explored in the report is the convergence of digital identity and payments. The increasing demand for secure authentication and digital identity verification presents a significant opportunity for A2A wallets to evolve beyond payments into identity-driven services.
Kristian T. Sørensen (IN Groupe), Co-Chair of the Digital Wallet Expert Group, underscores the growing importance of digital identity:
“Digital identity and payments are on a path towards deeper integration. As regulatory frameworks like eIDAS 2.0 drive digital ID adoption across Europe and beyond, A2A wallets have the potential to seamlessly link identity and transactions. This will unlock new opportunities for banks to offer trusted, secure, and user-centric digital interactions.”
Elina Mattila, Executive Director of Mobey Forum, adds:
“Mobey Forum remains committed to driving collaboration and knowledge-sharing among financial institutions as they navigate the evolving digital payments landscape. This report provides key insights to help banks and industry stakeholders understand the role of account-based wallets and how they can capitalise on this shift.”
The report “Account-Based Digital Wallets: Navigating the Future of Payments” is now available for download from the Mobey Forum website (https://mobeyforum.org). Financial institutions, payment service providers, and industry stakeholders are encouraged to explore its findings to stay ahead in the rapidly transforming payments ecosystem.
