Payment with digital wallets spreads in Asia-Pacific region says yStats.com report

Germany based secondary market research firm yStats.com’s new report, “Asia-Pacific Online Payment Methods: Second Half 2017,” among other findings, points to the rapid rise in popularity of payment by digital wallets throughout the Asia-Pacific region. The publication covers the payment preferences of shoppers in 10 nations of the vast Asia-Pacific area.

Third-party online and mobile wallets are growing in popularity in China and India and spreading through other countries of the region. Research cited in the yStats.com report shows that Alipay, WeChat Pay, Paytm and similar services made up nearly half of online retail payments in the Asia-Pacific region. Traditional plastic card remains the leading payment method for B2C E-Commerce in Japan, South Korea and Australia, but now accounts for only a little over 25% of online sales in the region as the electronic methods used in emerging markets shift the shares.

Digital wallets are used not only in online shopping, but also increasingly in brick and mortar stores. While cash is still the leader in all retail shopping in Asia, electronic wallets are second, and share second place with plastic for in-store shopping, according to a survey summarized in the yStats.com report.

The demonetization reform of India in 2016 produced incentive for many shoppers in that county to change their payment preferences. Bank card and E-Wallets became the leading payment methods for online shoppers in India last year. The yStats.com publication nevertheless reports that not all economies in the region are on the E-Wallet bandwagon: in Indonesia and Vietnam, cash on delivery and ATM transfers still are the leading payment methods in B2C E-Commerce.

For further information, see: https://www.ystats.com/wp-content/uploads/2018/02/2018.02.15_Product-Brochure-Order-Form_Asia-Pacific-Online-Payment-Methods_Second-Half-2017.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.