Asia-Pacific Online Payment Methods: First Half 2017 code:1336

Asia-Pacific Online Payment Methods: First Half 2017
OVERVIEW
TABLE OF CONTENTS
COMPANIES MENTIONED
Countries Covered: Australia, China, India, Indonesia, Japan, Malaysia, New Zealand, Singapore, South Korea, Taiwan, Thailand, Vietnam
Pages: 84
Publication Date: 16/08/2017
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Questions Covered in the report:
  • Which payment methods are preferred by online shoppers in Asia-Pacific?
  • How important is payment security to digital consumers in this region?
  • What is the current state of mobile payments in various countries in Asia-Pacific?
  • How is E-Commerce driving the growth of non-cash payment methods across the region?
  • What are the prospects of the FinTech industry in Asia compared to other regions?

Key Findings:

Asian countries are the top markets for mobile payments

China, India and Indonesia rank the highest in the world in share of Internet users interested in mobile payments as of early 2017, according to a global survey cited in this report by yStats.com. China’s mobile payment value is already a thirteen-digit figure in Euros, and is projected to rise higher still at a strong growth rate in 2017. Third-party mobile payment providers, such as Alipay and WeChat Pay, not only benefit from the mobile payment boom in their domestic market, but also expand their reach abroad to serve Chinese consumers travelling around Asia and Europe. Likewise, in advanced economies, such as South Korea and Australia, mobile payments are on the rise, driven by factors such as speed and convenience.

Regarding online payments, consumers in Asia-Pacific show some variance in terms of their preferred methods. In Japan and South Korea, credit card is the strong leader among the payment methods used when shopping online, and in Australia, card payments accounted for nearly one-half of all online payments in 2016, according to market data cited in yStats.com’s report. At the same time, online shoppers in China prefer to pay with E-Wallets rather than with cards, and among Southeast Asian nations cash on delivery and bank transfer are the top payment methods in E-Commerce, although surveys also show that online shopping is seen in these countries as the main purpose of having a credit card.

Despite the recent innovations in authentication methods, shoppers from Asia-Pacific find safety of payment transactions to be of utmost priority when buying via computers or mobile devices. More than 50% of digital payment users in South Korea protect their transactions with a password, while only a single-digit share choose biometrics such as fingerprint scans. On the global level, around one-third of surveyed consumers stated that payment security matters most to them when deciding to use mobile payments.

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1. Management Summary

2. Global Developments

  • Payment Methods Preferred in E-Commerce, in % of Online Shoppers, Q1 2017
  • Reasons For Not Shopping Online, incl. Payment-Related, in % of Internet Users Who Do Not Shop Online, Q1 2017
  • Card Spending, in USD trillion, and Breakdown by POS and E-Commerce, in %, 2015 & 2021f
  • Contactless Payment Transaction Value, in USD billion, 2017e & 2019f
  • Number of Contactless Payment Users of Apple Pay, Samsung Pay and Android Pay, in millions, 2015 – 2017e
  • Share of Internet Users Who Are Likely To Use Mobile Payment in the Next Year, in % of Internet Users, by Selected Countries, Q1 2017
  • Attitudes Towards Mobile Payment and Mobile Money, in % of Consumers, by Developed and Developing Markets, 2016
  • Breakdown of the Number of Transactions/Purchases by Payment Methods, in %, as Perceived by Businesses and by Consumers, 2016
  • Factors Most Important to Consumers in Deciding to Use Mobile Payments, in %, 2016
  • Mobile Payment Security Features Demanded by Consumers and Implemented by Businesses, in %, 2016
  • Entities Expected to Be The Most Disruptive in FinTech in the Next Five Years According to Financial Services and Fintech Executives, in %, 2017
  • Expected Annual ROI According to Financial Services and Fintech Executives, in %, 2017

3. Asia-Pacific

3.1. Regional

  • Top Considerations in Online Shopping, incl. Payment-Related, in % of Consumers, November 2016
  • Breakdown of the Number of E-Commerce Orders by Payment Methods in Southeast Asia, by Indonesia, Philippines, Singapore and Thailand, in %, March 2017
  • Top 3 Payment Activities on Mobile Phones, in % of Internet Users in Southeast Asia, by Indonesia, Malaysia, Philippines, Singapore and Thailand, August 2016

3.2. Advanced Markets

3.2.1. Japan

  • Online and Mobile Payment Trends, August 2017
  • Top 3 Uses of Credit Card, in % of Credit Card Holders, 2016
  • Mobile Payment User Penetration, in % of Individuals, May 2014, November 2015 & November 2016
  • Reasons For Using Smartphone Payment, in % of Smartphone Payment Users, March 2017

3.2.2. South Korea

  • Payment Methods Used in E-Commerce, in % of Online Shoppers, October 2016
  • Payment Methods Used in E-Commerce, in % of Online Shoppers, by PC and Mobile, October 2016
  • Payment Methods Used in Cross-Border E-Commerce, in % of Cross-Border Online Shoppers, October 2016
  • Share of Internet Users Who Have Used Convenient Payment Services, in %, October 2016
  • Breakdown of Preferred Method of Authentication in Convenient Payment Services, in % of Users, October 2016
  • Reasons for Using Convenient Payment Services, in % of Users, October 2016

3.2.3. Australia

  • Breakdown of the Number of Consumer Payments by Channels, in %, 2013 & 2016
  • Share of Individuals Who Experienced Credit Card Fraud After Shopping Online, in %, November 2016
  • Breakdown of Card Fraud by Type, incl. Card-Not-Present, in AUD million, 2011 – 2016
  • Smartphone Payment User Penetration, in % of Consumers, May 2017
  • Mobile Contactless Payment Awareness, in % of Individuals, by Total and by Generation,  December 2016

3.2.4. New Zealand

  • Share of Individuals Who Experienced Credit Card Fraud After Shopping Online, in %, November 2016

3.3. Emerging Markets

3.3.1. China

  • Online and Mobile Payment Trends, August 2017
  • Breakdown of Payment Methods Used in E-Commerce, in % of Online Shoppers, 2016
  • Number of Online Payment Users, in millions, and Penetration, in % of Internet Users, 2012 – 2016
  • Third-Party Online Payment Volume, in CNY trillion, by Two Comparative Estimates, Q1 2016 – Q1 2017
  • Third-Party Online Payment Volume, in CNY trillion, by Two Comparative Estimates, 2013 – 2019f
  • Breakdown of Third-Party Online Payment GMV by Players, in %, by Two Comparative Estimates, Q1 2017
  • Breakdown of Third-Party Online Payment GMV by Segment, in %, Q1 2017
  • Number of Mobile Payment Users, in millions, and Penetration, in % of Mobile Internet Users, 2014 – 2016
  • Share of Internet Users Who Use Mobile Payment in Physical Stores, in %, 2016
  • Breakdown of Mobile Payment Users by Gender and Age Group, in %, 2015 & 2016
  • Third-Party Mobile Payment Volume, in CNY trillion, by Two Comparative Estimates, Q1 2016 – Q1 2017
  • Third-Party Mobile Payment Volume, in CNY trillion, by Two Comparative Estimates, 2013 – 2019f
  • Breakdown of Third-Party Mobile Payment GMV by Players, in %, by Two Comparative Estimates, Q1 2017
  • Breakdown of Third-Party Mobile Payment GMV by Segment, in %, Q1 2017

3.3.2. Taiwan

  • Categories of Products and Services Paid for In-Store Using Mobile Payment Systems, in % of Users, October 2016

3.3.3. India

  • Breakdown of Payment Methods Used in M-Commerce, in % of Mobile Shoppers, 2016
  • Payment Methods Used in E-Commerce, in % of Generation Z Online Shoppers, June 2017
  • Number of RuPay Card Transactions, in millions, and Value, in INR billion, by POS and E-Commerce, FY 2014/2015 – FY 2016/2017
  • Number of Mobile Payment Transactions, in billions, and Value, in INR trillion, FY 2016 – FY 2022f
  • Breakdown of Mobile Payment Transaction Value by Segment, in %, FY 2017e
  • Number of Mobile Wallet Transactions, in billions, and Value, in INR billion, FY 2016 – FY 2022f
  • Breakdown of Mobile Wallet Transaction Value by Segment, in %, FY 2017e
  • M-Wallet Market Size, in INR billion, FY 2016 – FY 2022f
  • Mobile Wallet Transaction Value, in USD billion, FY 2015 & FY 2017

3.3.4. Indonesia

  • Credit Card Uses, in % of Banked Adults Interested in Owning a Credit Card, March 2017
  • Breakdown of Main Purposes of Using Online Banking, incl. “Shopping Online”, in % of Users, March 2017
  • Number of E-Money Transactions, in millions, and Value, in IDR billion, 2012 – 2016 & H1 2017

3.3.5. Thailand

  • Payment Methods Used in E-Commerce, by Number of Online Shoppers and Percentage of Online Shoppers, Q1 2016
  • Value of Mobile Payment Transactions, in THB billion, and Volume, in millions, by Bank, Non-Bank and Total, 2011 – 2016

3.3.6. Singapore

  • Breakdown of Payment Methods Preferred in Online Shopping, in % of Online Shoppers, 2016
  • Breakdown of Credit Cards Used in Online Shopping, by Credit Card Network and Credit Card Issuer, in % of Online Shoppers Paying with Credit Card, 2016

3.3.7. Malaysia

  • Breakdown of Payment Methods Preferred in Online Shopping, in % of Online Shoppers, November 2016

3.3.8. Vietnam

  • Breakdown of Payment Methods Used in E-Commerce, in % Online Shoppers, August 2016
  • Credit Card Uses, in % of Adults, June 2017
Read More
  • Ant financial services
  • Apple Inc
  • China UnionPay Co Ltd
  • GMO Payment Gateway Inc.
  • MasterCard Inc.
  • PayPal Holdings Inc
  • Tencent Holdings Ltd
  • Visa Inc.
Read More

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