New yStats.com report contains predictions of cashless economies in the Asia-Pacific region

Germany-based online business intelligence firm yStats.com has published a new report, “Asia-Pacific Payment & E-Commerce Forecasts Snapshot 2018,” citing predictions of rapid growth of digital payments in the Asia-Pacific region. The publication includes forecasts that some nations may become cashless in the next decade.

Shoppers in Asia-Pacific economies accelerate trend to digital payments

With the increase of digital payments in online shopping plus the growing use of mobile payment in-store, some nations in the Asia-Pacific region could become cashless in the next several years. A prediction cited in the yStats.com report suggests that Australia could be the first cash-free economy, as early as within the next five years. Cashless status is much further out for the emerging economies of the region as well as for Japan.

Payment with mobile devices aids move away from cash

Mobile wallets are increasingly used for payments in-store throughout the Asia-Pacific region. China is a leader in mobile payment adoption, according to the yStats.com report. In India, where it is expected that in a decade over one-third of retail payments will be electronic, mobile payments contribute to the trend.

Electronic payment growth encouraged by expanding online shopping

Online shoppers increasingly adopt electronic payments methods. The economies of Southeast Asia and India have some of the highest recent growth rates for B2C E-Commerce regionwide, with projection for continued rapid growth. China already is the global leader in online retail sales, as cited in the yStats.com report. With continued growth of online retail, the adoption of electronic payment methods will expand.

For further information, see: https://www.ystats.com/wp-content/uploads/2018/09/2018.09.21_Product-Brochure-Order-Form_Asia-Pacific-Payment-E-Commerce-Forecasts-Snapshot-2018.pdf

About yStats.com
Founded in 2005 and headquartered in Hamburg, Germany, yStats.com is one of the world's leading secondary market research companies. We are committed to providing the most up-to-date and objective data on Global B2C E-Commerce and Online Payment markets to sector-leading companies worldwide.

Our multilingual staff researches, gathers, filters and translates information from thousands of reputable sources to synthesize accurate and timely reports in our areas of expertise, covering more than 100 countries and all global regions. Our market reports focus predominantly on online retail and payments, but also cover a broad range of related topics including M-Commerce, Cross-Border E-Commerce, E-Commerce Delivery, Online Gaming and many others. In addition to our wide selection of market reports, we also provide custom market research services.

We are proud to cooperate with companies like Bloomberg and Thomson Reuters. Given our numerous citations in leading media sources and journals worldwide, including Forbes and the Wall Street Journal, we are considered one of the most highly-reputed international secondary market research companies with an expertise in the areas of B2C E-Commerce and Online Payment.

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This release was published on openPR.