According to Zion Market Research, the global mobile wallet market is expected to reach about USD3,142 billion by 2022, growing at a CAGR of around 33.0% from 2017 to 2022. Due to the worldwide adoption of smartphones and technological advancements, the segment is witnessing exponential growth. Countries including India, China, and other emerging nations are spearheading the global growth of mobile wallets. Interoperability of mobile and digital wallets is an upcoming trend. Recently, Tigo in Bolivia entered into an agreement with the local banking sector to make transfers from Tigo Money to other bank accounts. Such interoperability will help to lower the cost of cash handling and eventually displace cash. In a similar move, RBI is to make digital wallets in India interoperable. Phase one of the program will cover the transfer of cash from one wallet to another, with phase two covering the transfer of cash from wallets to bank accounts. In the third phase, interoperability for wallets issued as cards will be allowed, but banks may still issue prepaid instruments in partnership with authorized card networks. The proposed interoperability will be offered on the UPI infrastructure.