Digital Wallets: The Future of Money

Technology has changed the way we interact with money. With the inception of Internet banking and the rise of digital wallets, consumers can conduct financial transactions with the tap of a finger. Digital wallets are one of the vital components that drive the growth of e-commerce. PayPal was the de facto digital wallet for eBay, the first major online marketplace, in the early 2000s. Amazon launched its one click digital payment system in 2006 which provided a more user-friendly and convenient digital wallet to its customers. In recent years, many digital wallets have emerged with companies such as Apple, Samsung, Google, Visa and Microsoft building their own digital payment solutions.

A digital wallet is a software application that allows consumers to make electronic payments without requiring physical cash or cards. It offers the consumer the ability to carry out person-to-person payments (P2P), in-app or online purchases, and physical store payments using a smartphone – along with balance-inquiry and other functions.

A McKinsey report recorded that global payments revenues reached $1.9 trillion in 2017, out of which digital wallets were estimated to have added approximately 40 billion to global payments revenues in 2017. In this article, we take a look at the technology and patenting trends related to digital wallets.

Technology Trends

Figure 1: Patent publication trend [Click on image to enlarge]

The use of digital wallets has been rising in the recent years. Figure 1 shows the growth in patent publications over the last decade. A surge in the growth of published patents has been seen post-2014.


Figure 2: Key geographies [Click on image to enlarge]


Some of the key players in the digital wallet market include MasterCard, Visa Inc., Samsung Electronics Co., Ltd., Microsoft, Alphabet, Apple Inc., PayPal, and the Bank of America. The United States has seen the maximum number of published patents in digital wallets, as seen in Figure 2. The European Patent Office and China have also seen a significant number of patent filings.




Figure 3 gives the breakup of patents based on the Relecura Star Rating, for the key companies holding patent assets in digital wallet technologies. Typically, a patent with a Relecura Star Rating of 3 or more is deemed as one of high-quality. The Relecura Star rating ranks each patent on a scale of five. It is a proprietary composite metric incorporating multiple criteria. The metric combines different technology, business, and litigation related factors.

Figure 3: Patent quality [ Click on image to enlarge]

While a major portion of Mastercard’s portfolio falls under the average star rating of 1.5, it owns a considerable number of patents with a higher Star Rating as well. Similarly, Visa, Google and PayPal are observed to own a fair proportion of high quality patents in their portfolios.

An increasing number of companies are developing innovative solutions to make digital payments more convenient and faster for the consumer. With an ever-expanding mobile and Internet penetration, the adoption of digital wallets is bound to increase in the near future.

Get the patent landscape report.

Discover the impact of your patents

Home > Digital Wallets: The Future of Money
A custom built AI Platform to support, generate, and manage innovation

Streamline your innovation ecosystem through the assimilation of the latest AI capabilities for a competitive edge.

  • AI powered custom solutions for Innovation Intelligence
  • Automation of competitor analysis
  • Identification of emerging technologies and companies
  • Whitespace Analysis and Potential M&A Targets
  • Strategic decision making supported by real-time data

Drive growth through insights that matter

Investment management

The dilemma of where, when, and how much to invest in the innovation space is a critical factor...

Know More

Due Diligence

M&A is a strategic process, aimed at a mutually supportive and complementary association, resulting in a synergized end...

Know More


Innovation reaches a dead-end if it cannot be monetized when the innovator fails to trace and reach out...

Know More

Portfolio organization

Management of IP assets is costly and labor-intensive. Relecura offers classifier tools for categorizing and organizing data automatically...

Know More

AI Platform for innovation intelligence

Relecura’s forte is its flexibility and adaptability to address specific problems and close-fitting solutions. The basic problem is that innovators are often not able to identify the industrial and commercial significance of their innovation as due diligence takes long days of analyses, necessitating a deviation from their regular and familiar activities. And it is a tedious iteration process. The latest custom AI capabilities help you assess the commercial value of innovation and technical due diligence can be automated to yield meaningful and immediate results. The repetitive tasks could be automated, and your time and energy could be devoted to strategic missions.

Portfolio organization

Management of large Innovation data is costly and labor intensive. Relecura offers AI-powered classification tools for categorizing and organizing data automatically and instantly. Automated Categorization against suitably chosen training documents keeps your innovation portfolio updated and lucidly classified, amenable to instant analyses.

Technology trends

Relecura offers fully automated custom AI solutions to track and explore developments in different technology areas. You can stay updated on the latest developments in different companies and technologies of your interest, which facilitates intelligent decision-making.

Competitive intelligence

Competitive intelligence is a prerequisite for strategic decision making. Relecura provides tools to track the innovation and publication dynamics of your competitors, based on which you can prioritize your innovation initiatives and thus hone up your competitive edge.

Investment Management

Relecura uses white space analysis within its product platform known as the TechTracker, an AI-powered tool that provides insights on various technological trends and offers a peep into your competitor’s patent arsenal. Additionally, it helps you keep track of emerging organizations and technologies to help you manage your budgets and investments, optimally.

What our valuable customers are
saying about us?

“Relecura helps us remain innovative by allowing us to see where the competition is playing through the landscaping tools. It lets us see where there are new opportunities and helps us focus in on those areas in an intelligent way.”


Alex M.,
IP Manager, a Multinational Technology Corporation, US

Relecura helps us ride the crest of innovation wave keeping a competitive edge.” It helps us identify the white spaces and where the opportunities are.”

John N,
Director of IP at a Global Data Storage & Semiconductor Company, US

‘Our policy decisions regarding the focus areas of research and investment are being taken based on the insights offered by the custom AI tool, TechTracker, which offers a clear picture about the emerging technologies, companies, and the white spaces on the technology landscape of the key players. This helps us optimize resource utilization and maximize returns,’

Subu N.,
Innovation Manager at an Indian Conglomerate, India

‘The Classifier tool, introduced by Relecura, is indeed useful in managing and updating large datasets. After having subscribed to that AI-powered tool, in-house big data management and analyses have become easier and hassle-free.”

Fabian L.,
R&D, a Global Semiconductor Company, US

“Relecura platform is fueled by the latest technologies, and the tools that the platform hosts make our in-house innovation management smooth and accurate, in addition to being synchronized with the global technology frontline.”

Viktor P.,
Innovation Strategy at a Global Consumer Product Company, South Korea

Recent Blog Posts

Make faster, better technology decisions with Relecura

Connect with our Specialists

Our professional services offer training and support to minimise time-to-value on the Relecura platform and make more timely, confident IP decisions