Asia-Pacific Online Payment Methods Analysis Report 2022 –

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Dublin, Sept. 22, 2022 (GLOBE NEWSWIRE) — The “Asia-Pacific Online Payment Methods 2022” report has been added to from ResearchAndMarkets.com offer.

This report provides an overview of the current status and future trends of online payments in the region. Among other findings, the publication reveals that alternative payment methods dominate the region’s largest B2C e-commerce market, China.

China is among the leading countries in the use of digital payment

During the COVID-19 pandemic, digital payments accelerated in the Asia-Pacific region, and growth continued post-pandemic, as cited in the report. China is one of the pioneers in the APAC region towards a cashless society. Online payment user penetration in China has exceeded a high double-digit percentage of the country’s internet users, adding several hundred million users over the past three years. China is also among the countries expected to experience a double-digit CAGR in the value of B2C e-commerce payments from 2021 to 2025.

Cards and digital wallets are the most common payment instruments in most countries in the region

According to the report, acceptance of mobile payments has increased during the pandemic and beyond. Ownership of mobile wallets in South Korea is expected to increase by around a quarter by 2025. Since the penetration of mobile wallet users in China is already high, it is expected to increase by a high single-digit percentage until in 2025.

Australia sees increasing use of BNPL

More than three-quarters of Australians were familiar with the BNPL service and its major market players such as Afterpay and Zip. As noted in the report, in New Zealand, however, BNPL payments were not as common. Younger generations have preferred BNPL services in the country, with older generations using card payments even more often.

Main topics covered:

1. Management Summary

2. Global developments

  • Overview of online and mobile payment trends, May 2022
  • Value of payments, by B2C e-commerce payments and POS payments, in trillions of dollars, 2021 and 2026f
  • Share of cash payments, as % of total value of POS transactions, by region, 2021 and 2025f
  • Value of contactless card transactions, in USD trillion, 2020 and 2021e
  • Share of contactless card transactions, in % of the total value of contactless transactions, 2021e
  • BNPL B2C e-commerce sales, in USD billion, 2021e & 2026f
  • Number of BNPL users, in millions, 2021e & 2026f
  • BNPL’s share of B2C e-commerce payments, in %, 2021e & 2026f
  • Value of Digital Wallet Transactions, USD Trillion, 2022f & 2026f
  • Number of B2C e-commerce transactions paid by OEM mobile payment apps, in billions, 2022f and 2026f
  • Number of mobile wallet users, by region, in millions, 2020 and 2025f
  • Mobile proximity payment users worldwide, in millions, and annual change, in %, 2020 – 2025f
  • Mobile proximity payment user penetration, as % of smartphone users, 2020 – 2025f
  • Penetration of local mobile payment users, in % of smartphone users, 2021e
  • Payment methods accepted by online merchants, by already accepted and planned, in % of online merchants, February 2022
  • Factors influencing in-store shopping choice, excluding digital payments, % of consumers, December 2021
  • Growth areas according to small businesses, % of small businesses, December 2021
  • Share of consumers and small businesses planning to exclusively use digital payment methods in the next two years, in %, December 2021
  • Value of cryptocurrency payments, USD billion, 2018 – 2023f

3. Asia-Pacific

3.1. Regional

  • Overview of online and mobile payment trends, July 2022
  • Value of card payments, USD trillion, and year-on-year change, %, 2019-2025f
  • Breakdown of payment methods used in B2C e-commerce, in %, 2021

3.2. Advanced Markets
3.2.1. Japan
3.2.2. South Korea
3.2.3. Australia
3.2.4. New Zealand
3.2.5. Singapore
3.3. Emerging Markets
3.3.1. China
3.3.2. Taiwan
3.3.3. hong kong
3.3.4. India
3.3.5. Indonesia
3.3.6. Thailand
3.3.7. Vietnam
3.3.8. Malaysia
3.3.9. Philippines

Companies cited

  • After-payment
  • AliPay
  • American Express
  • Pay
  • Dana
  • FamiPay
  • GoPay
  • LINE Pay
  • MasterCard
  • merpay
  • openpay
  • OVO
  • PayPal
  • Payment
  • QuicPay
  • Rakuten payment
  • Visa
  • Pay WeChat
  • Pay Yucho
  • zipper

For more information on this report, visit https://www.researchandmarkets.com/r/pe2ghk

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