Market Research Report
Asia-Pacific Online Payment Methods 2020
|Asia-Pacific Online Payment Methods 2020|
Published: March 19, 2020
yStats.com GmbH & Co. KG
Content info: 123 Pages
Delivery time: 1-2 business days
"E-Commerce payment landscape in Asia-Pacific led by digital wallets."
Asia-Pacific is the world's leading region in terms of the digital payments market size. Digital wallets such as Alipay, PayPay, LINE Pay, GoPay and others contributed significantly to this success, as they accounted for more than 50% of the region's E-Commerce sales and above a third of the transaction value at the point of sale in 2019. For China, these shares were even higher, thanks to more than nine in ten connected consumers using Alipay and WeChat Pay, according to statistics cited in the yStats.com report.
At the same time, credit cards remain popular among online shoppers in Japan, South Korea, Australia and Singapore. In Australia, online card payments accounted for a third of the total card payment value in 2019, and in South Korea credit card held the highest rank among payment methods used for both desktop-based and mobile digital purchases. At the same time, these countries also witness the rise of mobile wallets and especially QR code-based mobile payments. Another rising trend is the emergence of Buy Now Pay Later (BNPL) services.
Alipay.com Co. Ltd., Apple Inc, Bao Kim E-Commerce JSC, China UnionPay Co Ltd, GoPay LLC, Alphabet Inc, JD.com Inc, Kakao Corp., LINE Corp, MasterCard International Inc, Naver Corporation, PayPal Holdings Inc, Paytm Mobile Solutions Pvt. Ltd. Pt, Rakuten Inc, Samsung Co. Ltd., Tencent Holdings Ltd U, Visa Inc.