Asia-Pacific Online Payment Methods 2019

  • ID: 4752133
  • Report
  • Region: Asia Pacific
  • 118 pages
  • yStats GmbH & Co. KG
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Digital Wallets Drive Away Cash in Asia-Pacific Payments Market

FEATURED COMPANIES

  • Alipay.com Co Ltd
  • Bao Kim E-Commerce JSC
  • Google LLC
  • JD.com Inc.
  • LINE Corp
  • PayPal Holdings Inc
  • MORE

Asia-Pacific payments market sees cash overrun by digital wallets

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.

Asia-Pacific shows growth in mobile payments
The global leaders of mobile payments lie in the Asia-Pacific region. The report cites that mobile devices will be used for payment by the majority of smartphone users in 2019.

E-Commerce experiences an upswing in alternative payment methods
Alternative payment methods soar in Asia-Pacific, making up over half of the E-Commerce transaction value. This is largely due to the increased usage of digital wallet services, quotes the report.

Digital payment competition heightens throughout Asia-Pacific
Asian FinTech investment fuels the competition among digital payment companies, as mentioned in the report. Financial companies and banks have also taken part in this acceleration, developing their own solutions to compete with third-party providers.

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?
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FEATURED COMPANIES

  • Alipay.com Co Ltd
  • Bao Kim E-Commerce JSC
  • Google LLC
  • JD.com Inc.
  • LINE Corp
  • PayPal Holdings Inc
  • MORE

1. Management Summary

2. Global Developments
Breakdown of Card Payments by E-Commerce and POS Payments, in %, 2016 & 2022f
Payment Methods Accepted in Online Stores, in % of Online Stores, February 2018
Reasons For Not Shopping Online, incl. Payment-Related, in % of Internet Users Who Do Not Shop Online, Q1 2017 & Q1 2018
Online Payment Fraud Losses, in USD billion, 2018e & 2023f
Share of Respondents Who Would be Willing to Use Fingerprint or Other Biometric to Secure Their Payment Details, in %, 2018
Mobile Payment User Penetration, by Region, in % of Internet Users, Q4 2017
Proximity Mobile Payment User Penetration, by Region, in % of Smartphone Users, 2017-2022f
Top 10 Countries by Proximity Mobile Payment User Penetration, in % of Smartphone Users, 2019f
Share of Internet Users Who Are Likely To Use Mobile Payment Next Year, in % of Internet Users, by Region, Q1 2017 & Q1 2018
Share of Internet Users Who Are Likely To Use Mobile Payment Next Year, in % of Internet Users, by Selected Countries, Q1 2018
Mobile Wallet User Penetration, in % of Respondents, by China, Germany, India, Taiwan, the USA and the UK, 2018
Number of Contactless Payment Users of Apple Pay, Samsung Pay, Google Pay and Other OEM Pay, in millions, 2018e & 2020f
Retail Spending at Frictionless Payment Stores, in USD million, 2018e & 2023f
IoT Payments, in USD billion, 2018e & 2023f
IoT Payments, in USD billion, by Connected Car and Connected Home Device Payments, 2021f

3. Asia-Pacific

3.1. Regional
Online and Mobile Payment Trends and News about Players, February 2019
Breakdown of E-Commerce Sales by Payment Methods, in %, Q1 2017 & Q1 2018
Proximity Mobile Payment User Penetration, by Selected Countries and Total, in % of Smartphone Users, 2017-2022f
Digital Payment Service Penetration in Southeast Asia, in % of Respondents, by Country, Q2 2018

3.2. Advanced Markets

3.2.1. Japan
Online Payment Services Market Revenues, in JPY billion, and Year-on-Year Change, in %, FY 2015 - FY 2022f
Payment Methods Used in E-Commerce, in % of Online Shoppers, 2016 & 2017
Cashless Transactions Share of Total Payment Transactions, in %, Compared to Regional, 2022f
Share of Smartphone Owners Who Have Used QR Code Payment, in %, January 2019
Proximity Mobile Payment User Penetration, in % of Smartphone Users, 2018e & 2022f
Proximity Mobile Payment Transaction Value, in JPY trillion, and Year-on-Year Change, in %, FY 2017 – 2023f
Share of Smartphone Owners Who Started to Use a New Mobile Payment Service in 2018, in %, and Top 15 Mobile Payment Services that Smartphone Owners Started to Use, in of %, November 2018
Locations of Using Mobile Payment, in % of Mobile Payment Service Users, by Rural and Urban, May 2018
Top 10 Mobile Payment Services Used, in % of Mobile Payment Users, June 2018

3.2.2. South Korea
Payment Methods Used in E-Commerce, in % of Online Shoppers, 2016 & 2017
Payment Methods Used in E-Commerce, in % of Online Shoppers, by PC and Mobile, September 2017
Daily Average Personal Credit Card Payment in Online and Mail Orders, in KRW billion, H1 2016 - H1 2018
Cashless Transactions Share of Total Payment Transactions, in %, Compared to Regional, 2022f
Proximity Mobile Payment User Penetration, in % of Smartphone Users, 2017-2022f
Overview of Four Selected Leading Mobile Payment Services, incl. Provider, Launch Date, Channels, Number of Users and Cumulative Transaction Value, 2018
Top 3 Preferred Method of Authentication in Convenient Payment Services, in % of Users, September 2017

3.2.3. Australia
Breakdown of E-Commerce Transactions by Payment Method, in %, April 2018
Breakdown of Card Payment Fraud by Type, incl. Card-Not-Present, in AUD million, 2012 - 2017
Cashless Transactions Share of Total Payment Transactions, in %, Compared to Regional, 2022f
Top Mobile Payment Services Used to Pay In-Store, in % of Respondents, 2017 & 2018
Number of Users of Digital Payment Services, in thousands, and Penetration, in % of Population, 12 Months to March 2018

3.2.4. New Zealand
Cashless Transactions Share of Total Payment Transactions, in %, Compared to Regional Average, 2022f
Breakdown of Expectations of The Time When New Zealand Will Become a Cashless Society, in %, June 2018

3.2.5. Singapore
Cashless Transactions Share of Total Payment Transactions, in %, Compared to Regional, 2022f
Mobile Payment Transaction Value, in USD billion, 2016 & 2021f

3.3. Emerging Markets

3.3.1. China
Breakdown of E-Commerce Sales by Payment Methods, in %, Q1 2017 & Q1 2018
Breakdown of Frequency of Using Selected Third-Party Payment Services Compared to Online and Mobile Banking Services, in % of Active Users of Each Service, August 2018
Top Uses of Third-Party Payment Services, in % of Users, August 2018
Top 5 Third-Party Payment Services, in % of Users, August 2018
Number of Online Payment Users, in millions, and Penetration, in % of Internet Users, 2014 – 2017 & June 2018
Third-Party Online Payment Transaction Value, in CNY trillion, Q1 2016 – Q3 2018
Top 5 Third-Party Online Payment Providers by Market Share, in %, Q3 2017 & Q3 2018
Third-Party Mobile Payment Transaction Value, in CNY trillion, Q1 2016 – Q3 2018
Number of Mobile Payment Users, in millions, and Penetration, in % of Mobile Internet Users, 2014 - 2017 & June 2018
Proximity Mobile Payment Users Number, in millions, and Penetration, in % of Smartphone Users, 2017 - 2022f
Third-Party Mobile Payment Transaction Value, in CNY trillion, 2015 - 2020f
Top 3 Third-Party Mobile Payment Providers by Market Share, in %, Q3 2017 & Q3 2018
Payment Methods Used by Chinese Tourists During Overseas Travel, in % of Chinese Tourists Travelling Overseas, 2017 & 2018
Usage of Mobile Payment by Chinese Tourists During Overseas Travel, by Destination Country, in % of Chinese Travelers to Each Destination, October 2018
Attitude Towards Selected Technologies in Retail, in % of Urban Online Shoppers, May 2018
Cashless Transactions Share of Total Payment Transactions, in %, Compared to Regional, 2022f

3.3.2. Hong Kong
Share of Bank Customers Frequently Using Mobile Payment Services, in %, January 2018
Breakdown of Main Mobile Wallets Used, in % of Mobile Payment Users, January 2018

3.3.3. Taiwan
Mobile Payment User Penetration, in % of Smartphone Users, 2017 & 2018
Mobile Payment Usage Locations, in % of Mobile Payment Users, Q3 2018
Breakdown of Most Used Mobile Payment Services, in % of Mobile Payment Users, Q3 2018

3.3.4. India
Top 3 Payment Methods Preferred in E-Commerce, in % of Online Shoppers, June 2018
Breakdown of E-Commerce Sales by Payment Methods, in %, Q1 2017 & Q1 2018
Proximity Mobile Payment Users Number, in millions, and Penetration, in % of Smartphone Users, 2017 - 2022f
Cashless Transactions Share of Total Payment Transactions, in %, Compared to Regional, 2022f
Digital Payments, in USD billion, FY 2018e & FY 2023
Mobile Payments, in USD billion, FY 2018e & FY 2023
Mobile Wallets Transaction Value, in INR trillion, and Year-on-Year Growth Rate, in %, 2016 - 2021f
Top Mobile Wallets Used, in % of Young Urban Mobile Wallet Users, March 2018

3.3.5. Indonesia
Payment Methods Used in E-Commerce, in % of Online Shoppers, September 2018
Number of E-Money Transactions, in millions, and Value, in IDR billion, 2012 – 2018e
E-Money Usage Cases, in % of Mobile Users, by Gender, January 2018
Most Used E-Money Services, in % of Mobile Users, January 2018
Mobile Payment App User Penetration, in % of Internet Users, 2017
Mobile Payment Transaction Value, in IDR trillion, 2016 – 2020f

3.3.6. Thailand
Payment Methods Used in E-Commerce, by Number of Online Shoppers and Percentage of Online Shoppers, Q1 2017 & Q1 2018
Value of Mobile Payment Transactions, in THB billion, and Volume, in millions, by Bank, Non-Bank and Total, 2011 – 2017
Cashless Transactions Share of Total Payment Transactions, in %, Compared to Regional, 2022f

3.3.7. Vietnam
Breakdown of Payment Methods Used in Latest Online Purchase, in % Online Shoppers, November 2018
Payment Methods Used in E-Commerce, in % of Online Shoppers, 2016 & 2017
Factors Most Important to Online Shoppers When Buying Online, in % of Online Shoppers, 2017
Accepted Payment Methods, in % of E-Commerce Companies, 2016 & 2017
Payment Providers Used, in % of E-Commerce Companies Using Payment Providers, 2017
Non-Cash Payment Methods Used, in % of Banked Consumers, H1 2017 & H1 2018
FinTech Market Value, in USD billion, 2017 & 2020f
Breakdown of FinTech Industry by Segments, in %, 2017 & 2025f

3.3.8. Malaysia
Number of E-Money Transactions in millions, and Value, in MYR billion, 2013 - 2018
Non-Cash Payment Methods Used, in % of Individuals Using Non-Cash Payment Methods, 2018

3.3.9. Philippines
Payment Methods/ Channels Usage, by Type of Payments, incl. Personal Purchases, in % of Adults, February 2018
Payment Account Ownership, incl. E-Money Account, in % of Adults, February 2018
Frequency of Account Usage and Mode of Transactions, by Payment Method, incl. E-Money, in % of Adults, February 2018
Top 6 E-Payment Providers, by Awareness, in % of Adults, February 2018
Digital Wallet Transaction Value, in USD million, 2018f & 2021f
Cashless Transactions Share of Total Payment Transactions, in %, Compared to Regional Average, 2022f

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FEATURED COMPANIES

  • Alipay.com Co Ltd
  • Bao Kim E-Commerce JSC
  • Google LLC
  • JD.com Inc.
  • LINE Corp
  • PayPal Holdings Inc
  • MORE

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.

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  • 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.
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