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Asia-Pacific Online Payment Methods: Second Half 2016

  • February 2017
  • -
  • yStats - Global E-Commerce Intelligence
  • -
  • 75 pages

Summary

Table of Contents

A new publication from yStats.com reveals expansion in mobile payment usage in Asia-Pacific

A Germany-based secondary market research company, yStats.com, published a new report “Asia-Pacific Online Payment Methods: Second Half 2016” with information from this region about online payment methods trends, as well as revealing consumer preferences about digital payments. One highlight is that mobile payment methods are continually rising in the Asia-Pacific region.

The biggest B2C E-Commerce region by sales is the Asia-Pacific. yStats.com research reveals a predominant trend that mobile payments are becoming more popular there. Consumers are more prone to use alternative payment methods like mobile wallets in comparison with other areas around the globe.

The leader of the mobile purchasing trend is China, says the yStats.com report, with total mobile payment users nearing the number of total online payment users. Furthermore, in 2016, the amount of mobile payments using third-party services like Alipay and Tenpay exceeded desktop-based Internet payments. Other markets are also projected to increasingly utilize mobile payment methods. For example, South Korea showed strong double digit figure growth in daily average use of mobile payments. In India, by 2020 mobile wallets are forecasted to extend their share of online payments by multiple percentage points.

This yStats.com report also gives further insight in the Asia-Pacific region about payment-related online consumer attitudes. Whereas online consumers in Japan and Australia prefer to make online purchases via bank card, Southeast Asian shoppers prefer ATM or online bank transfer methods. Overall, consumers prioritize convenience and safety when shopping online or by mobile device.

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