Asia-Pacific Digital Payments 2025: Payment Methods, Trends, & Consumer Shifts
Description
Mobile Wallets to Surpass Cards by 2027 Across Asia-Pacific, While AI and Regulation Drive Payment Innovation, yStats.com Reports
Digital Wallets Take the Lead, but Traditional Payments Persist
Asia-Pacific’s non-cash payments are on track to reach 1.5 trillion by 2028, driven by over +5% annual growth. Mobile wallets are expected to cover 66% of POS transactions by 2027, led by China, Indonesia, and South Korea. Yet, cards remain popular in Japan and Australia, and cash continues to play a key role in places like Hong Kong and Vietnam, especially for in-person and delivery purchases.
AI Gains Ground in Payments, Though Progress Varies
AI is becoming central to payment systems, particularly in areas like fraud detection and credit services. Visa’s USD 3 billion investment has led to tools like Visa Protect, improving security for online and instant payments. Southeast Asia sees big potential, aiming for up to 9% revenue growth by 2027, though AI’s rollout isn’t uniform across all markets.
Cross-Border Payments Strengthened by Regulatory Moves
Regional regulators are pushing for better payment integration, with India’s UPI, China’s e-CNY, and Indonesia’s QRIS helping improve cross-border flow. These efforts are connecting local innovations to wider regional and international payment ecosystems.
Digital Wallets Take the Lead, but Traditional Payments Persist
Asia-Pacific’s non-cash payments are on track to reach 1.5 trillion by 2028, driven by over +5% annual growth. Mobile wallets are expected to cover 66% of POS transactions by 2027, led by China, Indonesia, and South Korea. Yet, cards remain popular in Japan and Australia, and cash continues to play a key role in places like Hong Kong and Vietnam, especially for in-person and delivery purchases.
AI Gains Ground in Payments, Though Progress Varies
AI is becoming central to payment systems, particularly in areas like fraud detection and credit services. Visa’s USD 3 billion investment has led to tools like Visa Protect, improving security for online and instant payments. Southeast Asia sees big potential, aiming for up to 9% revenue growth by 2027, though AI’s rollout isn’t uniform across all markets.
Cross-Border Payments Strengthened by Regulatory Moves
Regional regulators are pushing for better payment integration, with India’s UPI, China’s e-CNY, and Indonesia’s QRIS helping improve cross-border flow. These efforts are connecting local innovations to wider regional and international payment ecosystems.
Table of Contents
120 Pages
- 1. Key Takeaways
- 2. Management Summary
- 3. Asia-Pacific Digital Payments Insights and AI Developments
- Total Non-cash Transactions Volume, in volume billions, 2018 & 2021 - 2024e & 2028f
- Total B2B Non-cash Transactions Volume, in volume billions, 2018 & 2021 - 2024e & 2028f
- Payments Revenue Value, in USD trillion, 2013, 2018, 2020 - 2023
- Payments Revenue by Type, Commercial & Consumer in %, 2018 & 2023
- Payment Mix of New vs Traditional Payments, in % of Transaction Volume, 2023
- Top Point-of-Sales Payment Methods, in % of Transaction Value, 2023 - 2027f
- Share of Payment Revenue Value, in %, 2027f
- AI Applications in Credit Inclusion, Finance Automation, and Procurement, April 2025
- AI in Fraud Detection, Real-Time Payment Security, and Biometric Authentication, July 2025
- AI Integration, Stablecoin Cards, Tokenised Transfers, and Micro-Merchant Access, June 2025
- Funding for AI-Driven FinTech Companies, in USD billions, 2023-2025f
- SEA: Enablers of AI Adoption in E-Commerce and Digital Payments, April 2025
- SEA: Average Cost Reduction from AI/GenAI, in % of Total Costs, 2023 & 2027
- SEA: Average Revenue Growth from AI/GenAI, in % Revenue Growth, 2023 & 2027
- 4. China Payment Market Overview, Mobile Wallet Use, and Consumer Trends
- Mobile Wallet Penetration, Digital Infrastructure, and Consumer Adoption, June 2025
- Mobile Wallet Penetration among Adult Consumers, in %, Q2 2023
- Mobile Wallet Ownership and Usage, in %, Q2 2023
- Share of Consumers Using WeChat Pay Daily, in %, 2023
- WeChat Pay & Alipay Market Share in % and Ecosystem Penetration in Mobile Payments, 2023
- Share of Consumer Transactions by Payment Method, in %, 2024
- Development of Online Payment Usage and User Penetration, Dec. 2020 - Dec. 2024
- Forecasted Payment Market Size, in USD trillions, 2025e & 2030f
- Card Transaction Value, in USD trillion, 2024 & 2028f
- Debit Card Transaction Value, in CNY trillions, 2020 - 2028f
- Credit and Charge Card Transaction Value, in CNY trillions, 2020 - 2028f
- 5. Japan Payment Market Overview, Cashless Adoption, and Consumer Preferences
- Card Payment Market Trends, Cash Usage, and Government Cashless Policy Targets, July 2025
- Breakdown of Cashless Payments by Method, in %, 2017 - 2024
- Cashless Payment Ratio, in %, 2017 - 2024
- Share of Household Adoption of E-Money, in %, 2023
- Breakdown of Online Shoppers by Payment Method for Internet Transactions, in %, 2024
- Mobile Payments Market Size, in USD billion, 2025 & 2030f
- Real-Time Transactions Volume, in billions, 2023 & 2028
- Cards Transaction Value, in USD billion, 2024 & 2028f
- Share of Paper-Based Payments, in %, 2023 & 2028f
- 6. India Payment Market Overview, Digital Wallet Use, and E-Commerce Payments
- Share of Consumers Using Digital Wallets for Online and In-Store Purchases, in %, 2023
- Mobile Wallet Payments, in USD trillion, 2024 & 2028f
- Share of Electronic Payments Conducted via Real-Time Transactions, in %, 2023
- Most Frequently Used Online Payment Methods for E-Commerce, in %, 2024
- Cards Transaction Value, in USD billion, 2024 & 2028f
- Share of Online Credit Card Transactions Within Total Card Spending, in %, September 2024
- Share of Online Credit Card Spending, in %, April 2024 - September 2024
- 7. South Korea Payment Market Overview, Mobile Payments, and Online Shopping Trends
- Share of Smartphone Ownership, in %, 2023
- Share of Digital Transactions via Mobile Devices, in %, 2023
- Daily Usage Volume of Simple Payment Services, in millions, 2022 & 2023
- Transaction Value of Simple Payment Services, in USD million, 2022 & 2023
- Samsung Pay Market Share in Mobile Payments, in % of Total and In-Person Payments, 2023
- Frequency of Online Shopping Activity, in %, 2024
- B2C E-Commerce Payment Value, in USD billion, 2024 & 2028f
- Mobile Payments Market Size, in USD billions, 2024 & 2033f
- Cards Transaction Value, in USD billion, 2024 & 2028f
- 8. Australia Payment Market Overview, Card Transactions, and BNPL Preferences
- Mobile Wallet Payments, in USD billion, 2024 & 2028f
- Cards Transaction Value, in USD billion, 2024 & 2028f
- Share of Gen Z & Y Consumers Who Find BNPL Most Appealing for E-Commerce Payments, in %, 2024
- 9. Indonesia Payment Market Overview, E-Wallet Use, and Merchant Payment Trends
- Cards Transaction Value, in USD billion, 2023 & 2027f
- Mobile Payments Market Size, in USD billions, 2025e & 2030f
- Mobile Payments Market Share, by Payment Type, in %, 2024
- Mobile Payments Market Share, by Application, in %, 2024
- Share of Consumers by Payment Method Used, in %, 2023
- Share of Consumers Using E-Wallets for Financial Transactions, in %, 2023
- Acceptance of Payment Methods Among Merchants, in % of Merchants, 2024
- Payment Trends Observed by Merchants, in % of Merchants, 2024
- Payment Initiatives Identified as Critical to Business Strategy, in % of Merchants, 2024
- 10. Vietnam Payment Market Overview, E-Wallet Providers, and Merchant Adoption
- Cards Transaction Value, in USD billion, 2023 & 2027f
- Market Share of Leading E-Wallet Providers, in %, 2023
- Acceptance of Payment Methods Among Merchants, in % of Merchants, 2024
- Payment Trends Observed by Merchants, in % of Merchants, 2024
- Payment Initiatives Identified as Critical to Business Strategy, in % of Merchants, 2024
- 11. Thailand Payment Market Overview, Mobile Wallet Use, and Merchant Initiatives
- Mobile Wallet Payments, in USD billion, 2024 & 2028f
- Acceptance of Payment Methods Among Merchants, in % of Merchants, 2024
- Payment Trends Observed by Merchants, in % of Merchants, 2024
- Payment Initiatives Identified as Critical to Business Strategy, in % of Merchants, 2024
- 12. Singapore Payment Market Overview, Card Transactions, and Merchant Insights
- Cards Transaction Value, in USD billion, 2024 & 2028f
- Acceptance of Payment Methods Among Merchants, in % of Merchants, 2024
- Payment Trends Observed by Merchants, in % of Merchants, 2024
- Payment Initiatives Identified as Critical to Business Strategy, in % of Merchants, 2024
- 13. Philippines Payment Market Overview, Card Transactions, and Merchant Trends
- Cards Transaction Value, in USD billion, 2024 & 2028f
- Acceptance of Payment Methods Among Merchants, in % of Merchants, 2024
- Payment Trends Observed by Merchants, in % of Merchants, 2024
- Payment Initiatives Identified as Critical to Business Strategy, in % of Merchants, 2024
- 14. Malaysia Payment Market Overview, E-Wallet Use, and Card Transactions
- Cards Transaction Value, in USD billion, 2024 & 2028f
- Share of Consumers Using E-Wallets by Purchase Type (Online Shopping vs. Food Delivery), in %, 2024
- 15. Hong Kong Payment Market Overview, Digital Payment Share, and Market Trends
- Payment Market Size, in USD trillions, 2025e & 2030f
- Payment Market Share by Mode (Point of Sale vs. Online Sale), in %, 2024
- Top Digital Payment Methods for Online Transactions, in % of Respondents, 2023 & 2024
- Operational Localization, Consumer Preferences, and Regulatory Compliance, July 2025
- Payment Integration, Merchant Adoption, and Digital Innovation, July 2025
- 16. New Zealand Payment Market Overview, Card Transactions, and E-Commerce Payments
- Cards Transaction Value, in USD billion, 2023 & 2027f
- Share of Payment Cards in the E-Commerce Market, in %, 2023
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