Asia-Pacific Online Payment Methods 2022

Asia-Pacific Online Payment Methods 2022

China is the largest alternative payments market in Asia-Pacific: new yStats.com report.

China is among the leading countries regarding digital payment use

During the COVID-19 pandemic, digital payments accelerated in the Asia-Pacific region, and the growth has continued post-pandemic, as cited in the new yStats.com report. China is one of the frontrunners in the APAC region towards a cashless society. Online payment user penetration in China surpassed a high double-digit percentage of the country’s Internet users, adding several hundred million users over the past three years. China is also among the countries that is forecasted to experience a double digit CAGR in B2C E-Commerce payments value from 2021 to 2025.

Cards and digital wallets are the most common payment instruments in most countries of the region

According to yStats.com, the acceptance of mobile payments increased over the course of the pandemic and beyond. Mobile wallet ownership in South Korea is projected to rise by around one quarter by 2025. Since the mobile wallet user penetration in China is already high, it is projected to grow by a high single digit percentage through 2025.

Australia sees growing use of BNPL

Over three quarters of Australians were aware of the BNPL service and its main market players such as Afterpay and Zip. As stated in the yStats.com report, in New Zealand, however, BNPL payments were not as equally common. Younger generations preferred the BNPL services in the country, with the older generations still using card payments more often.


1. Management Summary
2. Global Developments
Overview of the Online and Mobile Payment Trends, May 2022
Payment Value, by B2C E-Commerce Payments and POS Payments, in USD trillion, 2021 & 2026f
Share of Cash Payments, in % of Total POS Transaction Value, by Region, 2021 & 2025f
Value of Contactless Card Transactions, in USD trillion, 2020 & 2021e
Share of Contactless Card Transactions, in % of Overall Contactless Transaction Value, 2021e
BNPL B2C E-Commerce Sales, in USD billion, 2021e & 2026f
Number of BNPL Users, in millions, 2021e & 2026f
BNPL Share of B2C E-Commerce Payments, in %, 2021e & 2026f
Value of Digital Wallet Transactions, in USD trillion, 2022f & 2026f
Number of B2C E-Commerce Transactions Paid by OEM Mobile Payment Apps, in billions, 2022f & 2026f
Number of Mobile Wallet Users, by Region, in millions, 2020 & 2025f
Proximity Mobile Payment Users Worldwide, in millions, and Year-on-Year Change, in %, 2020 - 2025f
Proximity Mobile Payment User Penetration, in % of Smartphone Users, 2020 – 2025f
Proximity Mobile Payment User Penetration, in % of Smartphone Users, 2021e
Payment Methods Accepted by Online Merchants, by Already Accepted and Planned, in % of Online Merchants, February 2022
Factors Influencing Store Purchasing Choice, Excluding Digital Payments, in % of Consumers, December 2021
Areas for Growth According to Small Businesses, in % of Small Businesses, December 2021
Share of Consumers and Small Businesses Planning to Use Digital Payment Methods Exclusively Within the Next Two Years, in %, December 2021
Cryptocurrency Payment Value, in USD billion, 2018 – 2023f
3. Asia-Pacific
3.1. Regional
Overview of the Online and Mobile Payment Trends, July 2022
Card Payment Value, in USD trillion, and Year-On-Year Change, in %, 2019-2025f
Breakdown of Payment Methods Used in B2C E-Commerce, in %, 2021
3.2. Advanced Markets
3.2.1. Japan
Payment Methods Used in B2C E-Commerce, in % of Online Shoppers, 2021
General Payment Methods Used, in % of Respondents, January 2022
Breakdown of Mobile Payments’ Percentage Share of Total Payments Made, in % of Mobile Payment Service Users, February 2022
Breakdown of Attitude Towards Future Use of Mobile Payments, in % of Smartphone Users, February 2022
Mobile Payment User Penetration, by QR Code Payment and Contactless Payment, in % of Internet Users, January 2022
Breakdown of Most Used QR Code Mobile Payment Services, in % of QR Code Mobile Payment Users, January 2022
Breakdown of Most Used Contactless Mobile Payment Services, in % of Contactless Mobile Payment Service Users, January 2022
Number of Mobile Wallet Users, in millions, 2020 & 2025f
Number of Mobile Wallet Transactions, in billions, 2020 & 2025f
Mobile Wallet Transaction Value, in USD billion, 2020 & 2025f
3.2.2. South Korea
Breakdown of Payment Methods Used in B2C E-Commerce, in %, 2021
Mobile Wallet Ownership and Usage, in % of Adults, H1 2021
Number of Mobile Wallet Users, in millions, 2020 & 2025f
Number of Mobile Wallet Transactions, in billions, 2020 & 2025f
Mobile Wallet Transaction Value, in USD billion, 2020 & 2025f
3.2.3. Australia
Card Payment Value, in USD billion, 2022e & 2026f
BNPL Sales, in AUD billion, FY 2019 & FY 2021
Awareness and Usage of Buy Now Pay Later Payment Methods, in % of Respondents, September 2018 & June 2021
Awareness of Selected Buy Now Pay Later Services, in % of Respondents, September 2018 / August 2020 & June 2021
Usage of Selected Online Payment Platforms, in % of Respondents, January 2018 & June 2021
3.2.4. New Zealand
BNPL and Credit Card Use, by Generation, in % of Respondents, January 2021
3.2.5. Singapore
Card Payments Value, in USD billion, 2021 & 2025f
Payment Methods Preferred in B2C E-Commerce, in % of Online Shoppers, 2021
Changes in Consumer Behavior Following COVID-19 According to Online Merchants, incl. Payment-Related, in % of Online SMBs, September 2021
Share of Adults Who Would Prefer to Use BNPL to Buy An Item They Could Not Afford Immediately, in %, December 2021
3.3. Emerging Markets
3.3.1. China
B2C E-Commerce Payments Value, in CNY trillion, 2021e - 2025f
Payment Methods Preferred in B2C E-Commerce, in % of Online Shoppers, 2021
Most Used Payment Methods, in % of Internet Users, February 2022
Online Payment User Penetration, in % of Internet Users, June 2021
Number of Online Payment Users, in millions, and Penetration, in % of Internet Users, 2017–2021
Number of Real-Time Payment Transactions, in billions, 2020 & 2025f
Mobile Wallet Transaction Value, in USD trillion, and Volume, in billions, 2020 & 2025f
Mobile Wallet User Penetration, in % of Population, 2020 & 2025f
Breakdown of Mobile Wallet Market, in % of Total Value, July 2021
Third-Party Payment Value, by Mobile & Online, in CNY trillion, 2018-2025f
Number of Proximity Mobile Payment Users, in millions, and Share, in % of Population, 2019-2025f
Factors Considered Before Choosing a Mobile Payment Platform, in % of Internet Users, February 2022
3.3.2. Taiwan
Breakdown of Most Preferred Online Payment Methods, in % of Internet Users, August 2021
Mobile Payment and Card User Penetration, by Age Group, in % of Internet Users, August 2021
3.3.3. Hong Kong
Breakdown of Most Used Online Payment Methods, in %, 2023f
3.3.4. India
Breakdown of Total Transaction Volume, by Payment Method Type, in %, 2021
Breakdown of Total Transaction Volume, by Payment Method Type, in %, 2026f
Breakdown of Total Transaction Value, by Payment Method Type, in %, 2021
Breakdown of Total Transaction Value, by Payment Method Type, in %, 2026f
Number of Digital Payment Transactions, in billions, FY 2021-22e & FY 2025-26f
Value of Digital Payment Transactions, in INR trillion, FY 2021-22e & FY 2025-26f
B2C E-Commerce Payments Value, in USD billion, 2021 & 2025f
Payment Methods Preferred in B2C E-Commerce, in % of Online Shoppers, 2021
Overview of Selected Functions Available in Leading Mobile Wallet Apps, July 2021
3.3.5. Indonesia
Payment Methods Preferred in B2C E-Commerce, in % of Online Shoppers, 2021
Number of Mobile Wallet Users, in millions, 2020 & 2025f
Number of Mobile Wallet Transactions, in billions, 2020 & 2025f
Mobile Wallet Transaction Value, in USD billion, 2020 & 2025f
Digital Wallet and Mobile Banking Use, by Generation, in % of Mobile Payment Users, H2 2021
Most Used Digital Wallet Platforms, in % of Mobile Payment Users, by Socio-Economic Status, H2 2021
Proximity Mobile Payment User Penetration, in % of Smartphone Users, 2021e
3.3.6. Thailand
Payment Methods Preferred in B2C E-Commerce, in % of Online Shoppers, 2021
Breakdown of Daily Payment Transactions by Payment Method, in %, 2021
Number Digital Payment Users, in millions, 2020 & 2021
3.3.7. Vietnam
Payment Methods Preferred in B2C E-Commerce, in % of Online Shoppers, 2021
3.3.8. Malaysia
Payment Methods Preferred in B2C E-Commerce, in % of Online Shoppers, 2021
Card Payment Value, in USD billion, 2021e & 2025f
Number of Mobile Wallet Users, in millions, 2020 & 2025f
Mobile Wallet Transaction Value, in USD billion, 2020 & 2025f
Number of Mobile Wallet Transactions, in billions, 2020 & 2025f
3.3.9. Philippines
Card Payment Value, in USD billion, 2022e & 2025f
Breakdown of Payment Methods in B2C E-Commerce, in %, 2021

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