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Asia-Pacific Online Payment Methods 2022

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Description

Countries Covered: Australia, China, Hong Kong, India, Indonesia, Japan, Malaysia, New Zealand, Philippines, Singapore, South Korea, Taiwan, Thailand, Vietnam

Pages: 122

Publication Date: 2/08/2022

Questions Covered in the report:

  • What is the projected development of card payments value in the Asia-Pacific region by 2025?
  • Which are the leading B2C E-Commerce payment methods in the APAC region?
  • Which alternative payment methods are used by online shoppers in different countries of this region?
  • Which country in Asia-Pacific had the highest use of alternative payment methods?
  • How will mobile wallet adoption develop across this region through 2025?

Key Findings:

Alternative payment methods dominate the digital payments landscape in Asia-Pacific: new yStats.com report

The latest publication from Hamburg-based desk research company yStats.com titled “Asia-Pacific Online Payment Methods 2022” shares insights into the payment figures and trends in that vast region post the COVID-19 pandemic. The publication reveals that alternative payment methods such as digital wallets are growing in popularity with consumers in many countries of the region.

China and South Korea lead the move towards a cashless society

According to findings in the new yStats.com report, in the midst of the COVID-19 pandemic, the use of digital payments in Asia-Pacific accelerated. Card and mobile payments are on the rise across the region, bringing countries such as China and South Korea closer to becoming cashless societies. In contrast, more consumers in Japan use cash for their daily purchases, though B2C E-Commerce payments are dominated by credit cards.

Mobile payment adoption is still growing, even post-pandemic

During the pandemic, mobile wallets became a dominant trend in the region, as stated in the new yStats.com report. Even though the preference for payment methods varied in each country in the Asia-Pacific region, the growing use of mobile payments was observed in many of them. China takes the lead in terms of mobile wallet adoption globally, followed by South Korea. Also in the Southeast Asian nations there is a trend towards mobile payment usage. In Thailand, a high double-digit share of consumers owned and used a mobile wallet. Furthermore, the number of consumers making digital payments as well as the transaction value of digital payments saw double-digit growth in the past year.

Buy Now Pay Later service use continues to grow in Australia

Another emerging alternative payment form in the Asia-Pacific region is the Buy Now Pay Later service, led by Australia. In Australia, three-quarters of individuals are aware of such service and nearly half of them had used BNPL. The most popular BNPL service provider in the country is Afterpay, followed by Zip, with two in three Australians being familiar with the former player and over half with the latter. In New Zealand, the BNPL services were used the most by younger generations, such as Millennials and Gen X, compared to older generations, such as Baby Boomers and Gen X, which prefer card payments.

1. Management Summary

2. Global Developments

  • Overview of the Online and Mobile Payment Trends, May 2022
  • Payment Value, by B2C E-Commerce Payments and POS Payments, in USD trillion, 2021 & 2026f
  • Share of Cash Payments, in % of Total POS Transaction Value, by Region, 2021 & 2025f
  • Value of Contactless Card Transactions, in USD trillion, 2020 & 2021e
  • Share of Contactless Card Transactions, in % of Overall Contactless Transaction Value, 2021e
  • BNPL B2C E-Commerce Sales, in USD billion, 2021e & 2026f
  • Number of BNPL Users, in millions, 2021e & 2026f
  • BNPL Share of B2C E-Commerce Payments, in %, 2021e & 2026f
  • Value of Digital Wallet Transactions, in USD trillion, 2022f & 2026f
  • Number of B2C E-Commerce Transactions Paid by OEM Mobile Payment Apps, in billions, 2022f & 2026f
  • Number of Mobile Wallet Users, by Region, in millions, 2020 & 2025f
  • Proximity Mobile Payment Users Worldwide, in millions, and Year-on-Year Change, in %, 2020 – 2025f
  • Proximity Mobile Payment User Penetration, in % of Smartphone Users, 2020 – 2025f
  • Proximity Mobile Payment User Penetration, in % of Smartphone Users, 2021e
  • Payment Methods Accepted by Online Merchants, by Already Accepted and Planned, in % of Online Merchants, February 2022
  • Factors Influencing Store Purchasing Choice, Excluding Digital Payments, in % of Consumers, December 2021
  • Areas for Growth According to Small Businesses, in % of Small Businesses, December 2021
  • Share of Consumers and Small Businesses Planning to Use Digital Payment Methods Exclusively Within the Next Two Years, in %, December 2021
  • Cryptocurrency Payment Value, in USD billion, 2018 – 2023f

3. Asia-Pacific

3.1. Regional

  • Overview of the Online and Mobile Payment Trends, July 2022
  • Card Payment Value, in USD trillion, and Year-On-Year Change, in %, 2019-2025f
  • Breakdown of Payment Methods Used in B2C E-Commerce, in %, 2021

3.2. Advanced Markets

3.2.1. Japan

  • Payment Methods Used in B2C E-Commerce, in % of Online Shoppers, 2021
  • General Payment Methods Used, in % of Respondents, January 2022
  • Breakdown of Mobile Payments’ Percentage Share of Total Payments Made, in % of Mobile Payment Service Users, February 2022
  • Breakdown of Attitude Towards Future Use of Mobile Payments, in % of Smartphone Users, February 2022
  • Mobile Payment User Penetration, by QR Code Payment and Contactless Payment, in % of Internet Users, January 2022
  • Breakdown of Most Used QR Code Mobile Payment Services, in % of QR Code Mobile Payment Users, January 2022
  • Breakdown of Most Used Contactless Mobile Payment Services, in % of Contactless Mobile Payment Service Users, January 2022
  • Number of Mobile Wallet Users, in millions, 2020 & 2025f
  • Number of Mobile Wallet Transactions, in billions, 2020 & 2025f
  • Mobile Wallet Transaction Value, in USD billion, 2020 & 2025f

3.2.2. South Korea

  • Breakdown of Payment Methods Used in B2C E-Commerce, in %, 2021
  • Mobile Wallet Ownership and Usage, in % of Adults, H1 2021
  • Number of Mobile Wallet Users, in millions, 2020 & 2025f
  • Number of Mobile Wallet Transactions, in billions, 2020 & 2025f
  • Mobile Wallet Transaction Value, in USD billion, 2020 & 2025f

3.2.3. Australia

  • Card Payment Value, in USD billion, 2022e & 2026f
  • BNPL Sales, in AUD billion, FY 2019 & FY 2021
  • Awareness and Usage of Buy Now Pay Later Payment Methods, in % of Respondents, September 2018 & June 2021
  • Awareness of Selected Buy Now Pay Later Services, in % of Respondents, September 2018 / August 2020 & June 2021
  • Usage of Selected Online Payment Platforms, in % of Respondents, January 2018 & June 2021

3.2.4.  New Zealand

  • BNPL and Credit Card Use, by Generation, in % of Respondents, January 2021

3.2.5. Singapore

  • Card Payments Value, in USD billion, 2021 & 2025f
  • Payment Methods Preferred in B2C E-Commerce, in % of Online Shoppers, 2021
  • Changes in Consumer Behavior Following COVID-19 According to Online Merchants, incl. Payment-Related, in % of Online SMBs, September 2021
  • Share of Adults Who Would Prefer to Use BNPL to Buy An Item They Could Not Afford Immediately, in %, December 2021

3.3. Emerging Markets

3.3.1. China

  • B2C E-Commerce Payments Value, in CNY trillion, 2021e – 2025f
  • Payment Methods Preferred in B2C E-Commerce, in % of Online Shoppers, 2021
  • Most Used Payment Methods, in % of Internet Users, February 2022
  • Online Payment User Penetration, in % of Internet Users, June 2021
  • Number of Online Payment Users, in millions, and Penetration, in % of Internet Users, 2017–2021
  • Number of Real-Time Payment Transactions, in billions, 2020 & 2025f
  • Mobile Wallet Transaction Value, in USD trillion, and Volume, in billions, 2020 & 2025f
  • Mobile Wallet User Penetration, in % of Population, 2020 & 2025f
  • Breakdown of Mobile Wallet Market, in % of Total Value, July 2021
  • Third-Party Payment Value, by Mobile & Online, in CNY trillion, 2018-2025f
  • Number of Proximity Mobile Payment Users, in millions, and Share, in % of Population, 2019-2025f
  • Factors Considered Before Choosing a Mobile Payment Platform, in % of Internet Users, February 2022

3.3.2. Taiwan

  • Breakdown of Most Preferred Online Payment Methods, in % of Internet Users, August 2021
  • Mobile Payment and Card User Penetration, by Age Group, in % of Internet Users, August 2021

3.3.3. Hong Kong

  • Breakdown of Most Used Online Payment Methods, in %, 2023f

3.3.4. India

  • Breakdown of Total Transaction Volume, by Payment Method Type, in %, 2021
  • Breakdown of Total Transaction Volume, by Payment Method Type, in %, 2026f
  • Breakdown of Total Transaction Value, by Payment Method Type, in %, 2021
  • Breakdown of Total Transaction Value, by Payment Method Type, in %, 2026f
  • Number of Digital Payment Transactions, in billions, FY 2021-22e & FY 2025-26f
  • Value of Digital Payment Transactions, in INR trillion, FY 2021-22e & FY 2025-26f
  • B2C E-Commerce Payments Value, in USD billion, 2021 & 2025f
  • Payment Methods Preferred in B2C E-Commerce, in % of Online Shoppers, 2021
  • Overview of Selected Functions Available in Leading Mobile Wallet Apps, July 2021

3.3.5. Indonesia

  • Payment Methods Preferred in B2C E-Commerce, in % of Online Shoppers, 2021
  • Number of Mobile Wallet Users, in millions, 2020 & 2025f
  • Number of Mobile Wallet Transactions, in billions, 2020 & 2025f
  • Mobile Wallet Transaction Value, in USD billion, 2020 & 2025f
  • Digital Wallet and Mobile Banking Use, by Generation, in % of Mobile Payment Users, H2 2021
  • Most Used Digital Wallet Platforms, in % of Mobile Payment Users, by Socio-Economic Status, H2 2021
  • Proximity Mobile Payment User Penetration, in % of Smartphone Users, 2021e

3.3.6. Thailand

  • Payment Methods Preferred in B2C E-Commerce, in % of Online Shoppers, 2021
  • Breakdown of Daily Payment Transactions by Payment Method, in %, 2021
  • Number Digital Payment Users, in millions, 2020 & 2021

3.3.7. Vietnam

  • Payment Methods Preferred in B2C E-Commerce, in % of Online Shoppers, 2021

3.3.8. Malaysia

  • Payment Methods Preferred in B2C E-Commerce, in % of Online Shoppers, 2021
  • Card Payment Value, in USD billion, 2021e & 2025f
  • Number of Mobile Wallet Users, in millions, 2020 & 2025f
  • Mobile Wallet Transaction Value, in USD billion, 2020 & 2025f
  • Number of Mobile Wallet Transactions, in billions, 2020 & 2025f

3.3.9. Philippines

  • Card Payment Value, in USD billion, 2022e & 2025f
  • Breakdown of Payment Methods in B2C E-Commerce, in %, 2021
  • Afterpay
  • AliPay
  • American Express
  • D Pay
  • Dana
  • FamiPay
  • GoPay
  • LINE Pay
  • Mastercard
  • Merpay
  • Openpay
  • OVO
  • Paypal
  • Paypay
  • QuicPay
  • Rakuten pay
  • Visa
  • WeChat pay
  • Yucho Pay
  • Zip
  • Zip Pay

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