Asia-Pacific Digital Payments 2025: Payment Methods, Trends, & Consumer Shifts

Description

Mobile Wallets to Surpass Cards by 2027 Across Asia-Pacific, While AI and Regulation Drive Payment Innovation, yStats.com Reports

Mobile Wallets Surge, but Cards and Cash Stay Relevant

By 2028, non-cash transactions in Asia-Pacific are set to hit 1.5 trillion, with digital wallets making up 66% of POS payments by 2027, up from 50% in 2023. China, Indonesia, and South Korea lead this shift, thanks to QR codes, super-apps, and government initiatives. Still, cards hold strong in Japan and Australia due to trusted systems and loyalty programs, while cash remains widely used in Hong Kong, Vietnam, and Malaysia, especially for offline spending.

AI Drives Payment Innovation with Uneven Uptake

Artificial intelligence is reshaping payments, boosting fraud prevention, credit access, and operations. Visa has put over USD 3 billion into AI tools like Visa Protect to strengthen real-time payment security. Southeast Asian firms expect 7-9% cost savings and up to 9% revenue gains from AI by 2027, though adoption rates differ across markets.

Regulations Boost Cross-Border Payment Connectivity

Efforts like India's UPI expansion, China's e-CNY pilots, and Indonesia's QRIS system are improving cross-border and domestic payment links. These regulatory moves are streamlining fragmented systems and opening new opportunities for regional and global commerce.

Product Code: 1697

1. Key Takeaways

2. Management Summary

3. Asia-Pacific Digital Payments Insights and AI Developments

Total Non-cash Transactions Volume, in volume billions, 2018 & 2021 - 2024e & 2028f
Total B2B Non-cash Transactions Volume, in volume billions, 2018 & 2021 - 2024e & 2028f
Payments Revenue Value, in USD trillion, 2013, 2018, 2020 - 2023
Payments Revenue by Type, Commercial & Consumer in %, 2018 & 2023
Payment Mix of New vs Traditional Payments, in % of Transaction Volume, 2023
Top Point-of-Sales Payment Methods, in % of Transaction Value, 2023 - 2027f
Share of Payment Revenue Value, in %, 2027f
AI Applications in Credit Inclusion, Finance Automation, and Procurement, April 2025
AI in Fraud Detection, Real-Time Payment Security, and Biometric Authentication, July 2025
AI Integration, Stablecoin Cards, Tokenised Transfers, and Micro-Merchant Access, June 2025
Funding for AI-Driven FinTech Companies, in USD billions, 2023-2025f
SEA: Enablers of AI Adoption in E-Commerce and Digital Payments, April 2025
SEA: Average Cost Reduction from AI/GenAI, in % of Total Costs, 2023 & 2027
SEA: Average Revenue Growth from AI/GenAI, in % Revenue Growth, 2023 & 2027

4. China Payment Market Overview, Mobile Wallet Use, and Consumer Trends

Mobile Wallet Penetration, Digital Infrastructure, and Consumer Adoption, June 2025
Mobile Wallet Penetration among Adult Consumers, in %, Q2 2023
Mobile Wallet Ownership and Usage, in %, Q2 2023
Share of Consumers Using WeChat Pay Daily, in %, 2023
WeChat Pay & Alipay Market Share in % and Ecosystem Penetration in Mobile Payments, 2023
Share of Consumer Transactions by Payment Method, in %, 2024
Development of Online Payment Usage and User Penetration, Dec. 2020 - Dec. 2024
Forecasted Payment Market Size, in USD trillions, 2025e & 2030f
Card Transaction Value, in USD trillion, 2024 & 2028f
Debit Card Transaction Value, in CNY trillions, 2020 - 2028f
Credit and Charge Card Transaction Value, in CNY trillions, 2020 - 2028f

5. Japan Payment Market Overview, Cashless Adoption, and Consumer Preferences

Card Payment Market Trends, Cash Usage, and Government Cashless Policy Targets, July 2025
Breakdown of Cashless Payments by Method, in %, 2017 - 2024
Cashless Payment Ratio, in %, 2017 - 2024
Share of Household Adoption of E-Money, in %, 2023
Breakdown of Online Shoppers by Payment Method for Internet Transactions, in %, 2024
Mobile Payments Market Size, in USD billion, 2025 & 2030f
Real-Time Transactions Volume, in billions, 2023 & 2028
Cards Transaction Value, in USD billion, 2024 & 2028f
Share of Paper-Based Payments, in %, 2023 & 2028f

6. India Payment Market Overview, Digital Wallet Use, and E-Commerce Payments

Share of Consumers Using Digital Wallets for Online and In-Store Purchases, in %, 2023
Mobile Wallet Payments, in USD trillion, 2024 & 2028f
Share of Electronic Payments Conducted via Real-Time Transactions, in %, 2023
Most Frequently Used Online Payment Methods for E-Commerce, in %, 2024
Cards Transaction Value, in USD billion, 2024 & 2028f
Share of Online Credit Card Transactions Within Total Card Spending, in %, September 2024
Share of Online Credit Card Spending, in %, April 2024 - September 2024

7. South Korea Payment Market Overview, Mobile Payments, and Online Shopping Trends

Share of Smartphone Ownership, in %, 2023
Share of Digital Transactions via Mobile Devices, in %, 2023
Daily Usage Volume of Simple Payment Services, in millions, 2022 & 2023
Transaction Value of Simple Payment Services, in USD million, 2022 & 2023
Samsung Pay Market Share in Mobile Payments, in % of Total and In-Person Payments, 2023
Frequency of Online Shopping Activity, in %, 2024
B2C E-Commerce Payment Value, in USD billion, 2024 & 2028f
Mobile Payments Market Size, in USD billions, 2024 & 2033f
Cards Transaction Value, in USD billion, 2024 & 2028f

8. Australia Payment Market Overview, Card Transactions, and BNPL Preferences

Mobile Wallet Payments, in USD billion, 2024 & 2028f
Cards Transaction Value, in USD billion, 2024 & 2028f
Share of Gen Z & Y Consumers Who Find BNPL Most Appealing for E-Commerce Payments, in %, 2024

9. Indonesia Payment Market Overview, E-Wallet Use, and Merchant Payment Trends

Cards Transaction Value, in USD billion, 2023 & 2027f
Mobile Payments Market Size, in USD billions, 2025e & 2030f
Mobile Payments Market Share, by Payment Type, in %, 2024
Mobile Payments Market Share, by Application, in %, 2024
Share of Consumers by Payment Method Used, in %, 2023
Share of Consumers Using E-Wallets for Financial Transactions, in %, 2023
Acceptance of Payment Methods Among Merchants, in % of Merchants, 2024
Payment Trends Observed by Merchants, in % of Merchants, 2024
Payment Initiatives Identified as Critical to Business Strategy, in % of Merchants, 2024

10. Vietnam Payment Market Overview, E-Wallet Providers, and Merchant Adoption

Cards Transaction Value, in USD billion, 2023 & 2027f
Market Share of Leading E-Wallet Providers, in %, 2023
Acceptance of Payment Methods Among Merchants, in % of Merchants, 2024
Payment Trends Observed by Merchants, in % of Merchants, 2024
Payment Initiatives Identified as Critical to Business Strategy, in % of Merchants, 2024

11. Thailand Payment Market Overview, Mobile Wallet Use, and Merchant Initiatives

Mobile Wallet Payments, in USD billion, 2024 & 2028f
Acceptance of Payment Methods Among Merchants, in % of Merchants, 2024
Payment Trends Observed by Merchants, in % of Merchants, 2024
Payment Initiatives Identified as Critical to Business Strategy, in % of Merchants, 2024

12. Singapore Payment Market Overview, Card Transactions, and Merchant Insights

Cards Transaction Value, in USD billion, 2024 & 2028f
Acceptance of Payment Methods Among Merchants, in % of Merchants, 2024
Payment Trends Observed by Merchants, in % of Merchants, 2024
Payment Initiatives Identified as Critical to Business Strategy, in % of Merchants, 2024

13. Philippines Payment Market Overview, Card Transactions, and Merchant Trends

Cards Transaction Value, in USD billion, 2024 & 2028f
Acceptance of Payment Methods Among Merchants, in % of Merchants, 2024
Payment Trends Observed by Merchants, in % of Merchants, 2024
Payment Initiatives Identified as Critical to Business Strategy, in % of Merchants, 2024

14. Malaysia Payment Market Overview, E-Wallet Use, and Card Transactions

Cards Transaction Value, in USD billion, 2024 & 2028f
Share of Consumers Using E-Wallets by Purchase Type (Online Shopping vs. Food Delivery), in %, 2024

15. Hong Kong Payment Market Overview, Digital Payment Share, and Market Trends

Payment Market Size, in USD trillions, 2025e & 2030f
Payment Market Share by Mode (Point of Sale vs. Online Sale), in %, 2024
Top Digital Payment Methods for Online Transactions, in % of Respondents, 2023 & 2024
Operational Localization, Consumer Preferences, and Regulatory Compliance, July 2025
Payment Integration, Merchant Adoption, and Digital Innovation, July 2025

16. New Zealand Payment Market Overview, Card Transactions, and E-Commerce Payments

Cards Transaction Value, in USD billion, 2023 & 2027f
Share of Payment Cards in the E-Commerce Market, in %, 2023