Top E-Wallets for North America in 2023: A Comprehensive Review

Monday, May 15th, 2023, 9:39:21 AM

In an increasingly digital world, e-wallets have become the go-to solution for managing money and making transactions. With so many digital wallets available in North America, it can be quite challenging to determine which one to choose. To help you pick the best one specifically for you, we have compiled an extensive review of the top e-wallets available in the U.S. and Canada for 2023. We'll explore their unique features, market presence in both countries, and specific advantages they offer.


PayPal e-wallet

PayPal remains the leader of the pack when it comes to e-wallets in North America. Think of it as the granddaddy of e-wallets since it was founded in 1998, which is a millennium ago in a digital world. It has long been a frontrunner in the peer-to-peer money transfer and commercial payment space. PayPal has a massive customer base and a reputation for security features that protect users' private info.

One of the main advantages of PayPal is that it is accepted by a wide range of merchants, making it a convenient option for online shoppers.

U.S. and Canada Popularity

In the United States, PayPal has become a household name, with many users appreciating its ease of use and widespread acceptance. In Canada, PayPal is also well-established and enjoys significant recognition in the market. One notable feature for Canadian users is the ability to hold and transfer funds in both USD and CAD, making it a suitable option for cross-border transactions.

PayPal for Business

PayPal also caters to businesses by offering solutions for invoicing, receiving payments, and managing subscriptions. Businesses usually choose this e-wallet for its reputation, security features, and global reach. Learn more at PayPal's official page for merchants.

Recently, the California-based multinational company has introduced a cryptocurrency trading feature, allowing users to buy, hold, and sell crypto directly from their PayPal account.

Apple Pay

Apple Pay app on iPhone

A tech giant, Apple, leads the way in mobile payments and digital wallet services. It allows users to make purchases using their iPhone or Apple Watch. Apple Pay is known for its accessibility as it is seamlessly integrated with Apple devices.

The e-wallet is also recognized for its robust security features, which keep the funds out of hackers' hands. One unique aspect of Apple Pay is that it allows users to complete transactions just by using their fingerprint or facial recognition, adding an extra layer of security.

U.S. and Canada Popularity

Apple Pay has gained significant traction in the United States, particularly among iPhone users (obviously). It is also popular in Canada, with many major banks and credit unions supporting the service. One of its top benefits for Canadians is the integration with Interac, Canada's national debit network, allowing easy in-store transactions. Learn more at Interac official page.

Apple Pay for Business

Businesses can also benefit from adopting Apple Pay, as it provides a fast, secure, and contactless payment method clients already know and trust. It enables companies to offer a more streamlined checkout process, potentially increasing sales and customer satisfaction.


Venmo - the Social Payments App

While Venmo is primarily popular for its peer-to-peer transactions, it has expanded to include partnerships with select merchants, allowing users to pay for goods and services directly within the app. One of its unique features is the Venmo Card, a physical debit card that can be used wherever Mastercard is accepted.

U.S. and Canada Popularity

Venmo, a subsidiary of PayPal, has gained popularity in North America for its unique combination of social networking and payment functionality. The platform allows clients to send and receive money while including personalized messages and emojis, fostering a more engaging experience. Not surprisingly, it has become particularly popular among millennials and Gen Z users in the United States.

However, Venmo is not available in Canada. To sign up for Venmo, you and the person you're sending money to or receiving money from needs to be located in the U.S.

Venmo for Business

Although the company’s primary focus is on person-to-person transactions, there is also Venmo for Business. This service allows entrepreneurs to accept payments from customers directly through the app, making transactions instant, simple and social. Venmo for Business also offers tools for tracking and managing payments with ease, while benefiting from the e-wallet’s extensive user base. Learn more at Venmo official page.


Zelle e-wallet mobile bank integration

Since its launch in 2017, Zelle has rapidly gained popularity among U.S. consumers and became one of the most popular digital payment services in the country.

Zelle is a fast and secure peer-to-peer payment service backed by a network of banks and credit unions in the United States. With its integration into certain mobile bank apps, the digital wallet allows users to send and receive money directly from their bank account. The service has gained recognition due to its simplicity, speed of transactions, and security features.

U.S. and Canada Popularity

However, Zelle's primary market is in the United States, where its compatibility with various banks and credit unions has made it a go-to option for many Americans. Currently, the company does not have a presence in Canada. One requires a U.S. bank account to use it.

Zelle for Business

Zelle provides businesses with a quick and secure method to process payments, particularly for smaller businesses and independent contractors. By offering Zelle as a payment option, businesses reduce transaction fees and streamline their payment processes.

In 2023, it is continuing to expand its network of participating banks and credit unions, allowing even more people to access and use its digital payment services. Additionally, Zelle may introduce new capabilities, such as international payments or support for cryptocurrencies, to stay competitive and attract new clients. Visit Zelle Get Started page to get yours.


Koho e-wallet app

Koho offers a digital spending account accompanied by a prepaid Visa. This card can be loaded with funds, allowing users to make online and in-store purchases wherever Visa is accepted. By providing a prepaid card, the e-wallet eliminates the risk of overdraft fees and helps customers manage their spending more effectively.

One of the standout features of Koho is its cashback rewards program. You can earn a percentage of purchases back in the form of cash rewards. This program sets Koho apart from other prepaid card providers, making it an attractive option for shoppers looking to maximize their rewards while maintaining control over their spending.

Koho's mobile app boasts a user-friendly interface with a clear overview of spending habits, account balances, and transaction history. Additionally, the digital wallet offers several built-in budgeting tools for even more efficient financial management.

With Koho's RoundUp feature, you can automatically round up your transactions to the nearest whole amount of your choice and deposit the difference into your savings goals.

U.S. and Canada Popularity

Koho has gained significant popularity in Canada due to its innovative approach to personal finance management. The combination of a digital spending account, prepaid Visa card, cashback rewards, and budgeting tools has resonated with Canadians looking for an alternative to traditional banking services. Learn more about the services the company offers at the official page.

However, the Canadian-based fintech service does not currently have a presence in the United States, limiting its market reach in North America.

While Koho's current market presence is limited to Canada, its innovative solutions and growing popularity suggest the potential for expansion into new markets, such as the U.S. If it can successfully navigate the regulatory and competitive landscape in the U.S., it may be able to capitalize on the demand for fintech solutions among American consumers.

Google Pay:

Google Pay app on Android

Google Pay is a very popular e-wallet in North America and is considered an Android alternative to Apple Pay. It is available on both Android and iOS devices (unlike Apple Pay) and allows users to make purchases in stores, online, and within apps.

Google Pay also offers rewards for using the service, such as cashback and discounts at participating merchants.

U.S. and Canada Popularity

Google Pay has a strong presence in the United States, many appreciating its compatibility with various devices and its user-friendly interface. In Canada, the app has made significant strides in recent years toward wider adoption by partnering with several major banks and credit unions. Also, Canadians can take advantage of Google Pay's integration with Interac for easy in-store transactions.

Google Pay for Business

Google Pay provides businesses with an additional secure and convenient payment method for customers. By accepting Google Pay, businesses can cater to Android users and offer a seamless checkout experience to their clients. Moreover, the Google Pay Passes feature allows to create and distribute loyalty cards, gift cards, and other offers to increase engagement and build customer loyalty.

Cash App

Cash App Buy Bitcoin

Cash App, developed by Square, is the cool cousin on Venmo. Initially designed for peer-to-peer transactions, Cash App has expanded its functionality to include features such as direct deposits, a physical debit card (Cash Card), and the ability to trade stocks. Also, its unique feature allows you to buy and sell Bitcoin directly within the app. You can even setup auto-investments to automate the process. Check out more about how to purchase Bitcoin on its official page.

U.S. and Canada Popularity

While Cash App's primary market is in the United States, it has gained a presence in Canada, with users appreciating its versatility and intuitive interface. A standout feature for Canadians is the ability to hold and transfer funds in both USD and CAD, making cross-border transactions easy and convenient.

One unique feature of the app is that it allows you to buy and sell Bitcoin directly from the app.

Cash App for Business

Cash App enables businesses to accept payments via the app, providing a flawless and fast payment experience for customers. By offering Cash App as a payment option, businesses can increase customer loyalty and reach a broader audience. The e-wallet also provides businesses with detailed transaction reports and easy invoicing options.

Interac e-Transfer

One of the most popular digital wallets in Canada, Interac e-Transfer, is a service that enables customers to send and receive money through their bank accounts instantly.

You simply need to register their email address or mobile phone number with their bank to initiate transfers. Money can be moved between accounts at different financial institutions, making it a universal option for many Canadians.

U.S. and Canada Popularity

Interac e-Transfer is widely used by Canadian major banks and credit unions. This widespread adoption means that you can easily access their services through existing accounts, making it a convenient option for managing transfers. Learn more about money transfers through its official page.

To maintain relevance in the North American market, Interac e-Transfer has been incorporated with popular mobile payment services like Apple Pay and Google Pay. This integration allows you to make transactions directly through yout mobile devices, streamlining the payment process.

While Interac e-Transfer is widely used in Canada, it does not currently have a notable presence in the United States. This limits its market reach in North America and bears a challenge for users who wish to send money to recipients in the U.S. However, its integration with other e-wallet services like Apple Pay and Google Pay has allowed it to maintain some relevance in the U.S. market.

New E-Wallets to Keep an Eye On in 2023


Paytm, a leading e-wallet and digital payment platform from India, has successfully expanded its services to Canada. With its digital wallet, online bill payments, and even a physical debit card, Paytm is becoming increasingly popular among Canada's South Asian community. The platform's unique features, such as cashback rewards and an easy-to-use interface, make it an attractive option for Canadians looking for a convenient and rewarding digital wallet experience. Paytm's ambitious plans to keep growing in Canada could cement it as a major player in the country's e-wallet market.


Chime is a mobile banking app that offers a comprehensive suite of financial services, including direct deposit, a debit card, and budgeting tools. The app is an appealing choice for those looking to simplify their finances without breaking the bank. As Chime continues to improve and expand its services, it could become a significant contender in the e-wallet market.


Current, a mobile banking app that offers real-time money transfers, no fees, and a range of low-cost banking services, is taking the U.S. by storm. As more users seek digital alternatives to traditional banking, Current's innovative approach and easy-to-use platform have positioned it as a strong competitor in the e-wallet market. Moreover, its unique features, such as real-time transactions and low-cost services, make it an attractive option for anyone seeking an affordable digital banking experience.

Amazon Pay:

Amazon Pay app shopping

Amazon, the retail giant, has been expanding the reach of its digital wallet, Amazon Pay, by partnering with more merchants and offering cashback rewards and faster checkout options. With Amazon's massive user base and resources, it's no surprise that Amazon Pay is expected to continue its growth in 2023. As Amazon Pay increases its merchant partnerships and continues to enhance its features, it could become a formidable force in the digital wallet market, providing clients with a seamless and rewarding online shopping experience.


As of 2023, Dwolla is a respected digital payment platform in the United States, but it is not one of the most popular or widely used e-wallets.

Dwolla was founded in 2008 and offers a variety of payment solutions for businesses and individuals, including ACH payments, instant bank verification, and customizable payment workflows.

While Dwolla has gained a loyal customer base among certain industries and niches, such as real estate and crowdfunding, it hasn't quite broken into the mainstream like other digital payment solutions.

Simplii Financial

Simplii Financial is a Canadian digital bank and e-wallet service owned by CIBC. It offers a range of banking services, including online bill payments, peer-to-peer transfers, and mobile check deposits. It also offers a Visa debit card, which can be used for in-store and online purchases.

While Simplii Financial is popular among Canadians for its easy-to-use interface and fee-free services, it does not have a presence in the United States, limiting its market reach in North America.

Emerging E-Wallets:

As the e-wallet market continues to evolve, new players are entering the space, each bringing unique features and capabilities. Some of these emerging e-wallets include, Robinhood Crypto, Wise, Eco, Cash Pay, Tally, Plaid Wallet, N26, Brex Cash, and Stripe Treasury.

As these companies grow and develop, they could potentially disrupt the market and challenge established payment processors that occupy top positions.

Final Thoughts:

The e-wallet landscape in North America is diverse and constantly evolving, with a range of options available for users to choose from. While well-established digital wallets like PayPal, Apple Pay, and Google Pay continue to dominate in both the United States and Canada, other services like Venmo, Cash App, and Zelle are gaining popularity in the U.S.

Not-yet-established fintech solutions such as Revolut, Paytm, Chime, Current, and Amazon Pay are also making their mark on the North American scene.

As we move further into the digital age, the e-wallet market will undoubtedly continue to grow and adapt to changing consumer needs, offering even more innovative and convenient solutions for managing our finances.

Also, check out our comprehensive reviews of Top E-Wallets for the Balkan Region and Best E-Wallets for Northern Europe.