Worldpay report: plastic still fantastic for many Americans but younger generations opting for digital wallets

American shoppers remain attached to plastic, even as younger generations are swapping physical wallets for digital.

That’s according to a report from Global Payments’ Worldpay business, showing that, while 71% of US in-store spending remains anchored to physical plastic, a generational shift is forcing a $4.1 trillion evolution of the retail checkout counter.

This provides a window into the future of US retail through 2030, and illustrates that as Gen Z’s spending power matures, US digital wallet spending will surge 64% by 2030.  

Additional key insights from the report include:

• Direct card usage in the US is forecast to fall across all channels by 2030 - dropping from 71% to 64% in-store and from 49% to 43% online - as consumers increasingly migrate to digital wallets.

• Digital wallets are already the go-to online payment choice for 39% of 18–24-year-olds and 41% of 25–34-year-olds.

• US spending through digital wallets is projected to grow 10% annually across both online and in-store channels over the next five years.

• Use of payment apps in stores is forecast to grow 135% faster than overall global PoS growth, highlighting the urgent need for merchants to modernise legacy systems.

• The US remains an outlier in card usage (49% of online spending) compared to markets like APAC, where digital wallets already dominate with a 77% share.

“While cards still anchor US spending today, the future of commerce is being shaped by younger consumers,” says Bob Cortopassi, President and Chief Operating Officer at Global Payments. “For Gen Z, digital wallets and tap to pay experiences are already the norm. As their spending power grows, the way they pay today is a window into the future of payments.

“The future belongs to businesses that understand how their customers want to pay. As expectations shift toward choice and flexibility, merchants must evolve their payment systems to serve every demographic - and those that do will unlock the next wave of growth.”

2026 RTIH Innovation Awards

Payments will be a key focus area at the 2026 RTIH Innovation Awards.

The awards are now open for entries and celebrate global retail technology innovation in a fast moving omnichannel world.

Our winners will be revealed at the 2026 RTIH Innovation Awards Ceremony, taking place at The HAC in Central London on Wednesday, 4th November.

Check out our 2025 winners here.

Our 2025 hall of fame entrants were revealed during a sold out event which took place at The HAC on 16th October and consisted of a drinks reception, three course meal, and awards ceremony presided over by award winning comedian, actress and writer Tiff Stevenson.

In his welcome speech, Scott Thompson, Founder and Editor, RTIH, said: “This is the awards’ fifth year as a physical event. We started off with just 30 people at the South Place Hotel not far from here, then moved to London Bridge Hotel, then The Barbican, and last year RIBA’s HQ in the West End.”

“But I’m conscious of the fact that, to quote the legend that is Taylor Swift, You’re only as hot as your last hit, baby. So, this year we’ve moved to our biggest venue yet, and also pulled in our largest number of entries to date and broken attendance records.”

He added: “This year’s submissions have without doubt been our best yet. To quote one of the judges: The examples of innovative developments across both traditional and digital retail spaces were truly remarkable.”

Congratulations to our winners, and a big thank you to our sponsors, judging panel, the legend that is Tiff Stevenson, and all those who attended our 2025 gathering.