Asia-Pacific Online Payment Methods Markets Report 2021 Featuring iD, Suica Mobile, Naver Pay, Kakao Pay, Alipay, Tenpay, Afterpay and Zip - PRNewswire

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DUBLIN, Aug. 25, 2021 /PRNewswire/ -- The "Asia-Pacific Online Payment Methods 2021 Post COVID-19" report has been added to ResearchAndMarkets.com's offering.

The report "Asia-Pacific Online Payment Methods 2021 Post COVID-19" provides insights into the current state and future trends of the online payment market in the Asia-Pacific region. Among other findings, the publication reveals that BNPL service is one of the common payment methods in Australia, with over 70% of individuals being aware of it and its main providers.

China was estimated to have the highest proximity mobile payment user rate in 2021

During the 2020 COVID-19 pandemic, digital payments accelerated in the Asia-Pacific region. The region is the world leader in cashless transactions, with a predicted average annual growth rate of 16% from 2020 to 2025.

China is expected to have the highest penetration rate for proximity mobile payments in 2021 compared to other countries in the world with more than 80% of all smartphone users making such payments. Other countries in the region seeing development in the digital payments market were Malaysia with more than 60% growth in E-money transactions from 2019 to 2020 and Indonesia with more than 40% growth in E-money transactions.

Cards and digital wallets were the most common payment instruments in most countries of the region in 2020

The most common payment methods during the health crisis were physical or contactless cards and digital wallets, though in some countries, cash remained the leading form of payment in 2020. The acceptance of mobile payment has also increased over the course of the year 2020.

Mobile wallet payment in South Korea surged by 46% from 2019 to 2020, in China, third-party mobile payments rose by 18% from the third quarter to the fourth quarter of 2020, and in India, the value of the mobile wallet transaction was expected to leap by over 80% from 2020 to 2021.

Leading mobile payment service providers in the region in 2020 included iD and Suica Mobile in Japan, Naver Pay and Kakao Pay in South Korea, and Alipay and Tenpay in China. Other payment methods that gained momentum in 2020 and were expected to accelerate, were real-time payments, with the top three markets for the number of RTP transactions in 2020 being India, China and South Korea.

Australia sees surge in use of BNPL

An alternative payment method in the region in 2020 was the Buy Now Pay Later service. Over 70% of Australians were aware of the service and its main market players such as Afterpay and Zip. In Singapore, however, BNPL payments were not as common. Only 13% of the respondents stated that they had used this service.

Report Coverage

This report covers the online payment market in Asia-Pacific. It takes into account a wide definition of online payment, including payment methods used in online shopping and mobile payment, such as remote and proximity payments.
The major countries in the region are covered, while data availability varied across the markets.
The report includes data mostly published within the previous 12 months. The exact date of publication of the source is stated on each chart. The time period which the data refers to differs by source.

Report Structure

The global chapter opens the report, featuring an overview of global online and mobile payment developments.
Next, information about regional development is included.
The rest of the report contains country-specific information. Countries are grouped by advanced and emerging markets. Within each group, the countries are presented in the descending order of B2C E-Commerce sales.
Depending on data availability, the following types of market information are included: payment methods most used by online shoppers, breakdown of ECommerce sales by payment methods, number and value of online/mobile payment transactions, mobile payment user penetration and consumer awareness of innovative payment means. Not all the mentioned types of information are available for each of the covered countries.

Key Topics Covered:

1. Management Summary

2. Global Developments

Value of Payments, in USD trillion, by Region, and by Pre- and Post-COVID-19 Estimates, 2010, 2014, 2018, 2019 & 2020e
Top Online Payment Methods, in % of Respondents, August 2020
Cash Usage in Mature Markets, by Countries, incl. Japan, Singapore, South Korea and the US, in % of Total Transactions Volume, 2010 & 2020e
Cash Usage in Emerging Markets, by Countries, incl. Indonesia, India, Mexico and China, in % of Total Transactions Volume, 2010 & 2020e
Number of Cashless Transactions, in billions, CAGR, in %, 2020, 2025f & 2030f
Proximity Mobile Payment Users in Select Countries, in % of Smartphone Users, 2021e
Mobile Wallet Adoption Rate, in % of Respondents, 2020
Share of QR Code Payments, in % of All Digital Wallet Transactions, 2020 & 2025f
Number of Real-Time Payment Transactions in Select Countries, incl. India, China and South Korea, in billions, 2020
Perception of Cryptocurrency, in % of Millennial Consumers, March 2021

3. Asia-Pacific

3.1.Regional

Online and Mobile Payment Trends, August 2021
Card Payments Value, in USD trillion, and Year-on-Year Change, in %, 2019 - 2023f
Value of Online Payments in Select Countries, in USD billion, 2020e
Breakdown of Payment Methods, in % of Consumers, September 2020

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 Mentioned

Afterpay
Alipay
Apple Pay
Humm
iD
JKO Pay
Kakao Pay
Latitute Pay
LINE Pay
Momo
Naver Pay
Openpay
PayPay
Rakuten Edy
Samsung Pay
Suica Mobile
Tenpay
ViettelPay
ZaloPay
Zip

For more information about this report visit https://www.researchandmarkets.com/r/a2kmux

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