Asia-Pacific tops the world in mobile wallet adoption
Asia-Pacific has the world's highest mobile payment user penetration, surpassing 50% of smartphone users in 2019, according to the market data. The largest market in the region, China, has more than half a billion of mobile wallet users and continues to grow. The top competitors in this country include Alipay and WeChat Pay, which combined, processed the lion's share of transaction value in 2018. Another mobile leader, India, is also expected to see strong growth reflected in the doubling of the value of mobile wallet payments by 2021.
Local mobile wallet solutions are growing across the region
In addition to Alipay and WeChat Pay, other local competitors have emerged to tap into mobile wallets' growth in Asia-Pacific. These include Paytm and PhonePe in India and GrabPay and GO-PAY in Southeast Asia, described in the report. Furthermore, consumers in Japan are also starting to adopt innovative mobile payment methods offered by companies such as Rakuten and LINE.
Questions Answered in this Report
- How is the mobile payment market evolving across Asia-Pacific?
- Which countries of this region are leading in mobile payment adoption rate?
- What are the top mobile wallets in the countries of Asia-Pacific?
- How do Alipay, Kakao Pay, LINE Pay, WeChat Pay and others stack up in different countries?
- How do they differ in coverage and functionalities?
Key Topics Covered:
1. Mobile Wallet Market & Rankings
1.2. Asia-Pacific Regional
1.4. Hong Kong
1.7. South Korea
2. Top 10 Mobile Wallet Profiles
Profile of Alipay, February 2019
Profile of WeChat Pay, February 2019
Profile of Rakuten Pay, February 2019
Profile of LINE Pay, February 2019
Profile of Samsung Pay, February 2019
Profile of Kakao Pay, February 2019
Profile of Paytm, February 2019
Profile of PhonePe, February 2019
Profile of GrabPay, March 2019
Profile of GO-PAY, March 2019
For more information about this report visit https://www.researchandmarkets.com/research/4wg5dg/asiapacific—top?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20190402005719/en/
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Related Topics:M-Commerce,Mobile and Contactless Payments
KEYWORD: ASIA PACIFIC
INDUSTRY KEYWORD: TECHNOLOGY INTERNET MOBILE/WIRELESS PROFESSIONAL SERVICES FINANCE
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 04/02/2019 10:15 AM/DISC: 04/02/2019 10:15 AM