Asia-Pacific Online Payment Methods: Second Half 2017 code:1357

Asia-Pacific Online Payment Methods: Second Half 2017
OVERVIEW
TABLE OF CONTENTS
COMPANIES MENTIONED
Countries Covered: Australia, China, India, Indonesia, Japan, Malaysia, Singapore, South Korea, Taiwan, Thailand, Vietnam
Pages: 84
Publication Date: 16/02/2018
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Questions Covered in the report:
  • How is the digital payments landscape evolving across Asia-Pacific?
  • What were the market shares of the top payment methods in Asia-Pacific E-Commerce in 2017?
  • How do online payment method preferences vary between 10 major markets of this region?
  • What is the current state and prospects of mobile payments in Asia-Pacific?
  • What are the leading mobile wallets in the countries of this region?

Key findings:

Digital wallets dominate the online payment landscape in Asia-Pacific

E-Wallets such as Alipay, WeChat Pay and Paytm accounted for close to one-half of E-Commerce sales in Asia-Pacific in 2017, according to research findings contained in the yStats.com’s report. These third-party online and mobile payment services have gained significant popularity in China and India, and are also growing in use across Southeast Asia. While remaining the leading online payment method in Japan, South Korea and Australia, payment cards accounted for just above one-quarter of online retail sales in the region, as the contribution from the emerging markets has grown.

Digital wallets not only dominate the E-Commerce landscape, but are also transforming the way tech-savvy consumers in Asia make payments in their daily lives. According to a recent survey cited in the yStats.com’s report, E-Wallet was the second most frequently used payment method overall in Asia in 2017, ranking behind cash only and sharing the second place with physical payments by credit card. In China, mobile payment apps are catching up with cash payments in usage by connected consumers, with in-store payment transactions conducted via QR code scanning growing at high double-digit rates every quarter. Even in Japan, where cash still dominates overall retail payments, the potential for in-store mobile payments is high, as around one-half of smartphone owners who do not yet use QR code-based payments could imagine doing so in the future.

India has shown some interesting developments in digital payments following the 2016 demonetization. Close to one-half of online shoppers had reported switching from cash on delivery to online payment methods post-demonetization, according to a survey from 2017 cited by yStats.com. As a result, bank cards and E-Wallets have become the leading online payment methods in India, with the latter seeing the highest growth rates among the non-cash payment methods in fiscal year ending March 2017. Some other emerging markets in Asia-Pacific are yet to embrace innovative payment methods, such as Indonesia and Vietnam, where ATM transfers and cash on delivery remain ahead of card and E-Wallet payments in E-Commerce.

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1. Management Summary

2. Global Developments

  • Breakdown of E-Commerce Sales by Payment Methods, in %, 2021f
  • Top Two Payment Methods Preferred in Cross-Border Online Shopping, in % of Cross-Border Online Shoppers, 2016 & 2017
  • Penetration of Bank Account Holders Willing to Share Personal Financial Data with Third-Party Providers to Use Their Services, in %, by Selected Countries, August 2017
  • Share of Internet Users Who Believe That Mobile Payment is Not Secure, in %, October 2016
  • Mobile Payment User Penetration, in % of Internet Users, by Regions, Q4 2015 & Q2 2017
  • Apple Pay User Penetration Compared to Overall Mobile Payment User Penetration, in % of Internet Users, by Penetrated Markets, Q2 2017
  • FinTech Adoption Rate, in % of Internet Users, by Selected Countries, 2017
  • Most Used FinTech Services According to Internet Users, in %, 2017
  • Most Relevant Emerging Technologies for Large FinTech and Financial Companies to Invest In, in % of Respondents in Each Group,  April 2017
  • Top 10 VC-Backed FinTech Unicorns by Valuation, in USD billion, Q3 2017

3. Asia-Pacific

3.1. Regional

  • Breakdown of E-Commerce Sales by Payment Methods, in %, 2017e
  • Breakdown of General Payment Methods Used Most Frequently, in % of Consumers, August 2017
  • Awareness and Usage of New Payment Methods, in % of Consumers, August 2017
  • Rate of Adoption of New Payment Methods, in % of Consumers, by Selected Emerging Markets in Asia, August 2017
  • Top 3 Mobile Payment Services Used by Internet Users, by Selected Countries, incl. India, Indonesia, Philippines, South Korea and Thailand, in % of Internet Users, Q2 2017
  • Top 3 General Non-Cash Payment Methods Preferred by Consumers in Southeast Asia, by Country, 2017

3.2. Advanced Markets

3.2.1. Japan

  • Online and Mobile Payment Trends, January 2018
  • Payment Methods Used in E-Commerce, in % of Online Shoppers, 2016
  • Online Payment Services Market Revenues, in JPY billion, FY 2014 – FY 2021f
  • Awareness and Usage of E-Money Services and Smartphone Payment Services, in % of Smartphone Users, November 2017
  • Most Used Smartphone Payment Services, in % of Smartphone Payment Users, November 2017
  • Locations of Using Smartphone Payment, in % of Smartphone Payment Service Users, November 2017
  • Share of Smartphone Owners Who Have Used QR Code Payment, in %, and Share of Non-Users Who Would Like to Use It in the Future, in %, October 2017

3.2.2. South Korea

  • Daily Average Personal Credit Card Payment Value by Major Consumption Types, incl. Online and Home Shopping, in KRW billion, H1 2016 – H1 2017
  • Daily Average Value of Mobile Card Payments, in KRW billion, H1 2015 – H1 2017
  • Top 5 Mobile Payment Services by Payment Volume, in KRW billion, January-August 2017
  • Top 10 General Payment Methods Used, in % of Banked Consumers, H1 2017
  • Proximity Mobile Payment User Penetration, in % of Smartphone Users, 2018f

3.2.3. Australia

  • Breakdown of Online Payments by Payment Method, in %, 2013 & 2016
  • Breakdown of Online Payments by PC/Tablet and Mobile, in %, 2013 & 2016
  • Share of In-Person Card Payments Made via Mobile Phone, in %, 2016
  • E-Commerce Sales Shares of Apple Pay and Android Pay, in %, 2017e

3.3. Emerging Markets

3.3.1. China

  • Online and Mobile Payment Trends, January 2018
  • Number of Online Payment Users, in millions, and Penetration, in % of Internet Users, 2012 – 2016 & June 2017
  • Third-Party Online Payment Volume, in CNY trillion, by Two Comparative Estimates, Q1 2016 – Q2 2017
  • Breakdown of Third-Party Online Payment GMV by Players, in %, by Two Comparative Estimates, Q2 2017
  • Breakdown of Third-Party Online Payment GMV by Segment, in %, Q2 2017
  • Number of Mobile Payment Users, in millions, and Penetration, in % of Mobile Internet Users, 2014 – 2016 & June 2017
  • Third-Party Mobile Payment Volume, in CNY trillion, by Two Comparative Estimates, Q1 2016 – Q2 2017
  • Breakdown of Third-Party Mobile Payment GMV by Players, in %, by Two Comparative Estimates, Q2 2017
  • Breakdown of Third-Party Mobile Payment, by Type, in %, Q2 2016 – Q2 2017
  • Payment Methods Used for In-Store Purchases, in % of Internet Users, June 2017
  • Selected Mobile Payment Services Used Regularly to Make Payments, in % of Urban Consumers, 2017
  • Payment Transactions Processed via Offline QR Code Scanning, in CNY billion, Q1 2016 – Q1 2017
  • Proximity Mobile Payment Users Number, in millions, and Penetration, in % of Smartphone Users, 2016 -2021f

3.3.2. Taiwan

  • Payment Methods Used in E-Commerce, in % of Online Shoppers, Q4 2016

3.3.3. India

  • Share of Urban Online Shoppers Who Switched from Cash on Delivery to Online Payment Methods Following Demonetization, in % of Online Shoppers, 2017
  • Share of Urban Online Shoppers Who Introduced Family or Friends to Cashless Payment Methods After Demonetization, in %, 2017
  • Breakdown Payment Methods Preferred in E-Commerce, in % of Urban Online Shoppers, 2017
  • Payment Methods Preferred When Making Online/Mobile Payments, in % of Urban Internet Users, 2017
  • Share of Digital and Mobile Wallets in E-Commerce Sales, in %, 2013 & 2017e
  • Value of Payment Transactions by Selected Non-Cash Payment Methods, in INR billion, and Volume, in millions, incl. Mobile Wallets, FY 2014-2015 – FY 2016-2017

3.3.4. Indonesia

  • Top 3 Payment Methods Used in E-Commerce, in % of Internet Users, 2016
  • Top 10 Mobile Payment Services Used, in % of Mobile Payment Users, September 2017

3.3.5. Singapore

  • Share of Cards and Digital Wallets in E-Commerce Sales, in %, 2013 & 2017e
  • Share of Credit Card Holders Who Used Mobile Wallets to Make Payments from Credit Card, 2016 & 2017

3.3.6. Thailand

  • Payment Methods Used in E-Commerce, in % of Online Shoppers, July 2017
  • Breakdown of Online Payment Channels Used by SMEs in E-Commerce, in %, 2016
  • Reasons to Choose an E-Commerce Website to Purchase From, incl. Payment-Related, in % of Online Shoppers, June 2017

3.3.7. Malaysia

  • Payment Methods Used in E-Commerce, in % of Online Shoppers, February 2017
  • Problems in E-Commerce, in % of Online Shoppers, August 2017

3.3.8. Vietnam

  • Payment Methods Used in E-Commerce, in % of Online Shoppers, 2015 & 2016
  • Factors Most Important to Online Shoppers When Buying Online, in % of Online Shoppers, 2016
  • Accepted Payment Methods, in % of E-Commerce Companies, 2016
  • Payment Providers Used, in % of E-Commerce Companies Using Payment Providers, 2016
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  • Ant financial services
  • Apple
  • China UnionPay
  • Kakao
  • Line
  • MasterCard
  • Mobikwik
  • Naver
  • Osaifu Keitai
  • PayPal
  • PayU
  • Paytm
  • Rakuten
  • Samsung
  • Tencent
  • True Corporation
Read More

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