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Innovation in mobile and online payment quickly adapted in Asia, says yStats.com research
The yStats.com research shows that online shoppers in Asia-Pacific seek convenience in online payment, leading to the growth of digital payment methods that shoppers in Australia, China, South Korea and other countries use online as well as in-store. In particular, surveys cited in the yStats.com publication tell of the doubling of the use of digital wallets in the region in recent years. China’s Alipay and WeChat Pay have users in the hundreds of millions and in South Korea, NPay and Kakao Pay reached over 10 million users this year.
The yStats.com report also reveals that China has the world’s largest number of shoppers using mobile payment methods in brick and mortar stores. At the same time, in some other emerging countries of the region, cash on delivery remains as the dominant payment method for online purchases, indicating opportunity for future adoption of innovative methods in countries such as India and Vietnam.
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