The Trusted Platform Module (TPM) manufactured and promoted by the Trusted Computing Group (TCG) is an embedded chip found on laptops and desktops and is fast becoming a standard component on most computing systems. Previous work in trusted computing-based research has suggested that we can facilitate e-commerce transactions such as digital wallets, e-cash and offline payments using TPMs. In this paper, we experimentally evaluate the performance of digital wallets that are implemented using TPM-based functionality. In particular, we study how different approaches of implementing TPM-based monotonic counters that are used in the digital wallet application can perform with respect to time and cost, experimentally evaluate and compare how each of these approaches perform under conditions like different workloads and distributions, and how they perform in non-standard environments where one would need a simulator to estimate performance.