Hamburg, Germany, July 25, 2018 --(PR.com
)-- E-Commerce in the vast Asia-Pacific region is rapidly expanding, with digital and mobile wallets emerging as the leading payment method in many of the 10 major markets of the region covered in the yStats.com report. They were used for nearly 50% of online purchases in the region last year, accounting for more online sales than credit cards. China’s Alipay and WeChat dominate the digital wallet scene in the region along with upcoming mobile wallets in India. In the more mature economies of Japan, South Korea and Australia, card payments still prevail, but digital methods are increasingly used there, also.
Along with digital wallets, the smartphone or mobile payment also are widely used in the Asia-Pacific region. In fact, this region leads the world in mobile payment penetration, according to information cited in the yStats.com report. QR-based payments are widely used especially in China, rivalling cash for payment in-store.
In addition to the spreading use of digital and mobile wallets, other alternatives to the use of credit card in online purchases in the Asia-Pacific region are cash on delivery and bank transfers. But credit cards are not going away: the increasing penetration of online purchases in Indonesia and Vietnam results in growing use of plastic.
For further information, see: https://www.ystats.com/wp-content/uploads/2018/06/2018.06.19_Product-Brochure-Order-Form_Asia-Pacific-Online-Payment-Methods_Full-Year-2017.pdf
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