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Online Payment Methods in Asia Pacific, 2019 - Competition Among Key Market Players Remains Intense, Heated by an Inflow of Investment into Asian Fintechs - ResearchAndMarkets.com

February 15, 2019

DUBLIN--(BUSINESS WIRE)--Feb 15, 2019--The “Asia-Pacific Online Payment Methods 2019” report has been added to ResearchAndMarkets.com’s offering.

A new report highlights the growth in online and mobile payment services in Asia-Pacific. The report, entitled Asia-Pacific Online Payment Methods 2019, accents the potential growth of mobile wallets and showcases digital buyers’ payment preferences in Asia-Pacific’s top markets.

The nations of the Asia-Pacific region are the global leaders in mobile payments. More than one in two smartphone users are expected to pay using a mobile device in 2019, high above the worldwide average, reports the researcher. In China alone, more than half a billion people use mobile payment services such as Alipay and WeChat Pay to transact in online and brick-and-mortar stores. Even in cash-dominated societies such as India, mobile wallets help to drive the growth of digital payments and reduce the share of cash transactions.

Due to the growing popularity of digital wallet services, more than 50% of ECommerce transaction value in Asia-Pacific is attributed to alternative payment methods, according to the data cited in the report. Nevertheless, in countries including Japan and South Korea, plastic is still king, with a high usage rate among online shoppers. Other popular online payment methods include bank transfer, which is popular in Indonesia and Thailand among others.

Amidst digital payment growth, competition among key market players remains intense, heated by an inflow of investment into Asian FinTechs. Despite rivalry from third-party providers, traditional banks and other financial corporations also partake in this digital payments boom, including in Japan and Australia where these institutions have rolled out their own tap & pay and other mobile wallet solutions.

Questions Answered in this Report

What are the top digital payment trends in Asia-Pacific? Which payment methods do consumers in Asia-Pacific prefer when shopping online? How is the adoption of mobile wallets evolving across the region? What is the projected size of the mobile payments market in China and India by 2020? Which E-Wallets are used the most by consumers in Asia-Pacific?

Companies Mentioned

Alipay.com Co. Ltd. Apple Inc. Bao Kim E-Commerce JSC China UnionPay Co. Ltd. GoPay LLC Google LLC JD.com Inc. Kakao Corp. LINE Corp. MasterCard International Inc NAVER Corporation NganLuong Joint Stock Company PayPal Holdings Inc. Paytm Mobile Solutions Pvt. Ltd. Pt Mandiri Finance Indonesia Rakuten Inc. Samsung Co. Ltd. Suning.com Co. Ltd. Tencent Holdings Ltd. UnionPay International Co. Ltd. Visa Inc.

For more information about this report visit https://www.researchandmarkets.com/research/tp9ll3/online_payment?w=4

View source version on businesswire.com:https://www.businesswire.com/news/home/20190215005347/en/

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SOURCE: Research and Markets

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PUB: 02/15/2019 11:07 AM/DISC: 02/15/2019 11:07 AM