Global Compendium 2025: Volume 2 Asia-Pacific E-Commerce & Payments 2025: Market Intelligence on B2C, B2B, Innovations in Digital Payments, Adoption Patterns, and Shifting Dynamics
Description
Asia-Pacific E-Commerce and Payments Expand Through Scale, Digital Wallets, AI Integration, and B2B Platforms, yStats.com Reports
Asia-Pacific B2C E-Commerce Accelerates Across Major Markets
Forecasts show Asia-Pacific’s retail E-Commerce nearing USD 5 trillion in 2028, cementing its global lead. Growth is fueled by China’s dominance, Southeast Asia’s expanding digital economy, and the role of cross-border shopping in deepening trade integration.
Digital Payments Reshape Consumer and Merchant Transactions
Non-cash transactions in the region are projected to reach 1.5 trillion annually by 2028, reflecting the shift toward digital payments. Wallets remain the centerpiece of consumer spending across China, Japan, South Korea, and Southeast Asia, reinforced by BNPL and regulatory support for new payment models.
AI Adoption Grows but Operational Gaps and Fraud Risks Persist
As of 2025, only one in four Southeast Asian E-Commerce sellers had achieved full AI implementation. Fraud challenges are accelerating AI use in payment security, while regulatory sandboxes in leading markets provide frameworks to balance innovation with consumer protection.
B2B E-Commerce Expands Through Digital Trade Platforms and Marketplaces
B2B E-Commerce in Asia-Pacific is expanding at over +15% CAGR from 2022 to 2026, supported by cloud systems and digital trade. Platforms such as AliExpress, 1688.com, IndiaMART, and Japanese procurement leaders are powering SME integration, increasing efficiency, and enhancing cross-border supply networks.
Asia-Pacific B2C E-Commerce Accelerates Across Major Markets
Forecasts show Asia-Pacific’s retail E-Commerce nearing USD 5 trillion in 2028, cementing its global lead. Growth is fueled by China’s dominance, Southeast Asia’s expanding digital economy, and the role of cross-border shopping in deepening trade integration.
Digital Payments Reshape Consumer and Merchant Transactions
Non-cash transactions in the region are projected to reach 1.5 trillion annually by 2028, reflecting the shift toward digital payments. Wallets remain the centerpiece of consumer spending across China, Japan, South Korea, and Southeast Asia, reinforced by BNPL and regulatory support for new payment models.
AI Adoption Grows but Operational Gaps and Fraud Risks Persist
As of 2025, only one in four Southeast Asian E-Commerce sellers had achieved full AI implementation. Fraud challenges are accelerating AI use in payment security, while regulatory sandboxes in leading markets provide frameworks to balance innovation with consumer protection.
B2B E-Commerce Expands Through Digital Trade Platforms and Marketplaces
B2B E-Commerce in Asia-Pacific is expanding at over +15% CAGR from 2022 to 2026, supported by cloud systems and digital trade. Platforms such as AliExpress, 1688.com, IndiaMART, and Japanese procurement leaders are powering SME integration, increasing efficiency, and enhancing cross-border supply networks.
Table of Contents
232 Pages
- 1. Key Takeaways
- 2. Management Summary
- 3. Asia-Pacific: B2CE-Commerce Overview
- 3.1. Market Size and Regional Growth Trends
- Asia-Pacific: Retail E-Commerce Sales, in USD trillion, & in % of Year-on-Year Change, in %, 2022-2028f
- China, South Korea, Japan, India, and Australia: Online Retail Sales, in USD trillion, 2023 & 2028f
- Indonesia, Thailand, Vietnam, Malaysia, the Philippines, and Singapore: Retail E-Commerce Sales, n USD billion, 2023 & 2028f
- 3.2. China: Digital Consumer Landscape
- China: Number of Internet Users, in millions and Internet Penetration, in %, Dec. 2020 - Dec. 2024
- China: Number of Online Shoppers, in millions, and Internet Penetration, in %, Dec. 2020 - Dec. 2024
- China: Share of Online Physical Goods Sales, in % of Total Retail Sales of Consumer Goods, Q1 2025
- China: Breakdown of Total Internet Users by Urban & Rural Areas, in %, Dec. 2023 & Dec. 2024
- 3.3. China: Cross-Border and Luxury Shopping Behavior
- China: Top 5 Global Origins for Cross-Border Online Purchases, % of International Shoppers, 2024
- China: Share of International Cross-Border Online Purchases, in %, 2018-2024
- China: Top 3 Source Markets for Most Recent Cross-Border Online Purchase by Chinese Shop., in %, 2024
- China: Willingness to Purchase Luxury or Designer Products Online Without Seeing Them First, in %, 2024
- 3.4. China: E-Commerce Platform Shifts & Policy Environment
- China: BNPL Market Growth, Key Platforms, and Sectoral Integration, June 2025
- China: E-Commerce Platforms Shift Strategies Amid USA Tariff Pressures, April 2025
- China: Adapting to Tariffs and Domestic Shifts in E-Commerce, April 2025
- 4. Asia Pacific: Digital Payments Ecosystem
- 4.1. Infrastructure, Revenue, and Payment Method Trends
- Asia-Pacific: Total Non-cash Transactions Volume, in volume billions, 2018 & 2021-2024e & 2028f
- Asia-Pacific: Total B2B Non-cash Transactions Volume, in volume billions, 2018 & 2021-2024e & 2028f
- Asia-Pacific: Payments Revenue Value, in USD trillion, 2013, 2018, 2020- 2023
- Asia-Pacific: Payments Revenue by Type, Commercial & Consumer in %, 2018 & 2023
- APAC: Payment Mix: New Payments vs Traditional Payments, In % of Transaction Volume, 2023
- Asia-Pacific: Top Point-of-Sales Payment Methods, in % of Transaction Value, 2023 - 2027f
- Asia-Pacific: Share of Payment Revenue Value, in %, 2027f
- 4.2. Merchant Acceptance and Business Strategy Tools
- 4.2.1. Indonesia
- Indonesia: Acceptance of Payment Methods Among Merchants, in % of Merchants, 2024
- Indonesia: Payment Trends Observed by Merchants, in % of Merchants, 2024
- Indonesia: Payment Initiatives Identified as Critical to Business Strategy, in % of Merchants, 2024
- 4.2.2. Thailand
- Thailand: Acceptance of Payment Methods Among Merchants, in % of Merchants, 2024
- Thailand: Payment Trends Observed by Merchants, in % of Merchants, 2024
- Thailand: Payment Initiatives Identified as Critical to Business Strategy, in % of Merchants, 2024
- 4.2.3. Philippines
- Philippines: Acceptance of Payment Methods Among Merchants, in % of Merchants, 2024
- Philippines: Payment Trends Observed by Merchants, in % of Merchants, 2024
- Philippines: Payment Initiatives Identified as Critical to Business Strategy, in % of Merchants, 2024
- 4.2.4. Vietnam
- Vietnam: Acceptance of Payment Methods Among Merchants, in % of Merchants, 2024
- Vietnam: Payment Trends Observed by Merchants, in % of Merchants, 2024
- Vietnam: Payment Initiatives Identified as Critical to Business Strategy, in % of Merchants, 2024
- 4.2.5. Singapore
- Singapore: Acceptance of Payment Methods Among Merchants, in % of Merchants, 2024
- Singapore: Payment Trends Observed by Merchants, in % of Merchants, 2024
- Singapore: Payment Initiatives Identified as Critical to Business Strategy, in % of Merchants, 2024
- 4.2.6. Hong Kong
- Hong Kong: Operational Localization, Consumer Preferences, and Regulatory Compliance, July 2025
- Hong Kong: Payment Integration, Merchant Adoption, and Digital Innovation, July 2025
- 4.3. Country-Level Payment Ecosystems and Method Preferences
- 4.3.1. China
- China: Forecasted Payment Market Size, in USD trillions, 2025e & 2030f
- China: Share of Consumer Transactions by Payment Method, in %, 2024
- China: Share of Consumers Using WeChat Pay Daily, in %, 2023
- China: WeChat Pay & Alipay Market Share in % and Ecosystem Penetration in Mobile Payments, 2023
- China: Mobile Wallet Penetration among Adult Consumers, in %, Q2 2023
- China: Mobile Wallet Ownership and Usage, in %, Q2 2023
- China: Mobile Wallet Penetration, Digital Infrastructure, and Consumer Adoption, June 2025
- China: Development of Online Payment Usage and User Penetration, Dec. 2020 - Dec. 2024
- China: Card Transaction Value, in USD trillion, 2024 & 2028f
- China: Debit Card Transaction Value, in CNY trillions, 2020 - 2028f
- China: Credit and Charge Card Transaction Value, in CNY trillions, 2020 - 2028f
- China: Growth of Cross-Border Payments via Acquisitions and Global Partnerships, June 2025
- China: Alipay and WeChat Pay Global Expansion and Cross-Border Usage Trends, June 2025
- 4.3.2. Japan
- Japan: Card Payment Market Trends, Cash Usage, and Government Cashless Policy Targets, July 2025
- Japan: Breakdown of Cashless Payments by Method, in %, 2017 - 2024
- Japan: Cashless Payment Ratio, in %, 2017 - 2024
- Japan: Share of Household Adoption of E-Money, in %, 2023
- Japan: Breakdown of Online Shoppers by Payment Method for Internet Transactions, in %, 2024
- Japan: Mobile Payments Market Size, in USD billion, 2025 & 2030f
- Japan: Real-Time Transactions Volume, in billions, 2023 & 2028
- Japan: Cards Transaction Value, in USD billion, 2024 & 2028f
- 4.3.3. India
- India: Mobile Wallet Payments, in USD trillion, 2024 & 2028f
- India: Share of Electronic Payments Conducted via Real-Time Transactions, in %, 2023
- India: Most Frequently Used Online Payment Methods for E-Commerce, in %, 2024
- India: Cards Transaction Value, in USD billion, 2024 & 2028f
- India: Share of Online Credit Card Transactions Within Total Card Spending, in %, September 2024
- India: Share of Online Credit Card Spending, in %, April 2024 - September 2024
- 4.3.4. South Korea
- South Korea: Share of Smartphone Ownership, in %, 2023
- South Korea: Share of Digital Transactions via Mobile Devices, in %, 2023
- South Korea: Daily Usage Volume of Simple Payment Services, in millions, 2022 & 2023
- South Korea: Transaction Value of Simple Payment Services, in USD million, 2022 & 2023
- South Korea: Samsung Pay Market Share in Mobile Payments, in % of Total and In-Person Payments, 2023
- South Korea: Frequency of Online Shopping Activity, in %, 2024
- South Korea: B2C E-Commerce Payment Value, in USD billion, 2024 & 2028f
- South Korea: Mobile Payments Market Size, in USD billions, 2024 & 2033f
- South Korea: Cards Transaction Value, in USD billion, 2024 & 2028
- 4.3.5. Australia
- Australia: Mobile Wallet Payments, in USD billion, 2024 & 2028f
- Australia: Cards Transaction Value, in USD billion, 2024 & 2028f
- Australia: Share of Gen Z & Y Consumers Who Find BNPL Most Appealing for E-Com. Payments, in %, 2024
- 4.3.6. Indonesia
- Indonesia: Cards Transaction Value, in USD billion, 2023 & 2027f
- Indonesia: Mobile Payments Market Size, in USD billions, 2025e & 2030f
- Indonesia: Share of Consumers by Payment Method Used, in %, 2023
- Indonesia: Share of Consumers Using E-Wallets for Financial Transactions, in %, 2023
- 4.3.7. Thailand
- Thailand: Mobile Wallet Payments, in USD billion, 2024 & 2028f
- 4.3.8. Vietnam
- Vietnam: Cards Transaction Value, in USD billion, 2023 & 2027f
- Vietnam: Market Share of Leading E-Wallet Providers, in %, 2023
- 4.3.9. Malaysia
- Malaysia: Cards Transaction Value, in USD billion, 2024 & 2028f
- Malaysia: Share of Consumers Using E-Wallets by Purchase Type (Online Shopping vs. Food Delivery), in %, 2024
- 4.3.10. Singapore
- Singapore: Cards Transaction Value, in USD billion, 2024 & 2028f
- 4.3.11. Philippines
- Philippines: Cards Transaction Value, in USD billion, 2024 & 2028f Value, in USD billion, 2024 & 2028f
- 4.3.12. Hong Kong
- Honk Kong: Payment Market Size, in USD trillions, 2025e & 2030f
- Honk Kong: Payment Market Share by Mode (Point of Sale vs. Online Sale), in %, 2024
- Hong Kong: Top Digital Payment Methods for Online Transactions, in % of Respondents, 2023 & 2024
- 4.3.13. New Zealand
- New Zealand: Cards Transaction Value, in USD billion, 2023 & 2027f
- New Zealand: Share of Payment Cards in the E-Commerce Market, in %, 2023
- 5. Asia: AI & Automation in Commerce
- 5.1. AI Adoption & Seller Readiness in E-Commerce
- 5.1.1. Regional Adoption & Perceptions
- APAC: Consumer Usage of Offline, Digital, & AI Channels for Product Discovery, in % of Resp., 2024
- APAC: Consumer Usage of Offline, Digital, & AI Channels for Product Research, in % of Resp., 2024
- Asia: Adoption of AI Systems by Country, in % of Resp. Reporting Regular Use, Nov 2024 - Jan 2025
- Asia: Perception of AI Benefits Over Risks, in % of Respondents by Country, Nov 2024 - Jan 2025
- SEA: AI Tool Usage, Functional Adoption Levels, and Seller Readiness by Market, 2025
- SEA: Share of E-Commerce Sellers by Level of AI Adoption, in % of Resp., February 2025
- SEA: Claimed vs Actual AI Adoption Rates by E-Com. Sellers, in % of Respondents, February 2025
- SEA: Seller Perceptions of AI Benefits, in % of Respondents, February 2025
- SEA: Barriers to AI Adoption Among Online Sellers, in % of Respondents, February 2025
- SEA: Enablers of AI Adoption in E-Commerce and Digital Payments, April 2025
- SEA: Share of AI Adepts by Country, in % of E-Commerce Sellers, February 2025
- SEA: Share of AI Agnostics by Country, in % of E-Commerce Sellers, February 2025
- SEA: Share of AI Aspirants by Country, in % of E-Commerce Sellers, February 2025
- SEA: Key Areas to Improve Seller Experience Among AI Agnostics, in % of E-Com. Sellers, Feb. 2025
- SEA: Key Areas to Improve Seller Experience Among AI Aspirants, in % of E-Com. Sellers, Feb. 2025
- SEA: Key Areas to Improve Seller Experience Among AI Adepts, in % of E-Com. Sellers, Feb. 2025
- 5.1.2. Functional Use of AI and Business Outcomes
- SEA: AI Adoption by Business Function and Readiness Group, in % of Functions, Feb. 2025
- SEA: Share of E-Commerce Sellers Using Selected AI Tools, in % of Resp., February 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
- Asia: AI Applications in Credit Inclusion, Finance Automation, and Procurement Innovation, April 2025
- Asia: AI-Driven Cloud Banking, Investment Analytics, and Vertical B2B Financial Solutions, April 2025
- APAC: AI Integration, Stablecoin Cards, Tokenised Transfers, and Micro-Merchant Access, June 2025
- 5.1.3. Country Level AI Adoption in E-Commerce
- China: Overview of AI Use in B2C E-Commerce Market, February 2024
- Indonesia: AI Adoption by Tool Type Among E-Commerce Sellers, in % of Resp. Using Each Tool, Feb. 2025
- Thailand: AI Adoption by Tool Type Among E-Commerce Sellers, in % of Resp. Using Each Tool, Feb. 2025
- Vietnam: AI Adoption by Tool Type Among E-Commerce Sellers, in % of Resp. Using Each Tool, Feb. 2025
- Malaysia: AI Adoption by Tool Type Among E-Commerce Sellers, in % of Resp. Using Each Tool, Feb. 2025
- Singapore: AI Adoption by Tool Type Among E-Commerce Sellers, in % of Resp. Using Each Tool, Feb. 2025
- Philippines: AI Adoption by Tool Type Among E-Commerce Sellers, in % of Resp. Using Each Tool, Feb. 2025
- 5.2. AI Driven Risk, Fraud & Security in Payments
- 5.2.1. Regional Threat Landscape
- Asia-Pacific: AI in Fraud Detection, Real-Time Payment Security, and Biometric Authentication, July 2025
- APAC: Synthetic Identity Fraud, Deepfakes, Verification Gaps and Country Trends in FinTech, 2025
- APAC: AI-Driven Enterprise Fraud Management, Identity Verification, and Integration Challenges, July 2025
- APAC: Financial Crime Regulation, Synthetic Identity Laundering, and AI Compliance Strategy, July 2025
- Asia-Pacific: Overview of AI Use in Online Payment Fraud, February 2024
- 5.2.2. Trust in AI by Consumers & Workers
- Asia: Intentional Use and Trust of AI at Work by Country, in % of Respondents, Nov 2024 - Jan 2025
- Asia: Trust and Acceptance of AI Systems by Country, in % of Respondents, Nov 2024 - Jan 2025
- APAC: Consumers’ AI Trust by Activity Type, in % of Respondents, 2024
- 5.2.3. SEA-Specific Risk Management & Security Trends
- Asia: Cyber Defence, Identity Risk Management and Compliance Automation via AI, April 2025
- SEA: Year-over-Year Increase in AI-linked Fraud Rate, in %, 2024
- SEA: AI Detection with 80%+ False Positives, Generative AI for Alerts and Support, 2024
- SEA: Risk-Scoring Models, Network Analytics, and Data-Sharing Efforts, 2024
- 5.3. AI Governance, Regulatory Sandboxes & Innovation
- 5.3.1. Regional Governance, Strategy & Innovation
- APAC: AI Strategy in Anti-Financial Crime, Predictive Capabilities, and Governance Priorities, July 2025
- Asia: Public & Private Drivers of AI Governance, Infrastructure and Experimentation in Finance, 2025
- SEA: Infrastructure, Talent, and Regulatory Barriers Impacting AI Adoption, April 2025
- SEA: Sectoral and Country-Level AI Contributions to Economic Growth, April 2025
- 5.3.2. Sandboxes & Experimental Platforms
- Asia: AI Sandboxes and Capacity-Building Programs in Four Economies, 2025
- Asia: AI-Focused Regulatory Sandboxes and Innovation Hubs in Four Financial Markets, 2025 (1 of 2)
- Asia: AI-Focused Regulatory Sandboxes and Innovation Hubs in Four Financial Markets, 2025 (2 of 2)
- Asia: Development of AI Experimentation Platforms and Governance Across Multiple Sect., 2025 (1 of 2)
- Asia: Development of AI Experimentation Platforms and Governance Across Multiple Sect., 2025 (2 of 2)
- 5.3.3. Frameworks, Barriers, and Facilitators
- Asia: AI Innovation Facilitators, Financial Inclusion, Regulatory Insight and Risk Management, 2025
- Asia: Regulatory Frameworks for AI Innovation, Market Fit, Coordination, and Expertise, 2025
- Asia: Design, Resource, and Oversight Barriers of AI Innovation Facilitators in Financial Markets, 2025
- 5.4. Regional and Country Spotlights: FinTech, Health, and China’s AI Strategies
- 5.4.1. FinTech and Health Use Cases
- Asia: Funding for AI-Driven FinTech Companies, in USD billions, 2023-2025f
- Asia: Number of AI-Driven FinTech Companies, in thous., in % of Total FinTech Comp., 2023, 2025e
- Asia: Top Countries of AI FinTech Companies, in % of Total AI FinTech Companies, 2025
- Asia: Cross-Border Integration, Market Entry, Strategic Exit and Global Partnerships via Alipay+, 2024
- APAC: Visa AI Commerce, Mastercard Agent Pay, Shopper Trends, and Market Positioning, May 2025
- Asia-Pacific: Overview of AI Use in Digital Health, May 2023
- 5.4.2. China: Retail AI, Advertising & Platform Strategy
- China: Top Digital Health Areas in Which Healthcare Leaders Are Investing, in % of Healthcare Leaders, March 2022
- China: Top Digital Health Areas in Which Healthcare Leaders Are Investing, in % of Healthcare Leaders, March 2022
- China: Top Digital Health Areas in Which Healthcare Leaders Are Investing, in % of Healthcare Leaders, March 2022
- China: Overview of AI Use in B2C E-Commerce Market, February 2024
- China: Overview of Alibaba’s AI Investment Strategy and Platform Integration, June 2025
- China: Generative AI, Retail Productivity, Consumer Insights, Strategic Adaptation, June 2025
- China: AI-Powered Advertising Strategies of Alibaba, Tencent, and JD.com, May 2025
- China: Alipay Tap!’s User Growth, Ecosystem Investment, and AI-Driven Healthcare Expansion, June 2025
- China: Taobao and Tmall’s Membership Strategy, AI Marketing, and Revenue Drivers, June 2025
- 6. Asia: B2B E-Commerce & Digital Trade
- 6.1. B2B Market Trends and Digital Transformation
- APAC: B2B E-Commerce GMV Compound Annual Growth Rate, in % of CAGR, 2018-2022 & 2022-2026f
- APAC: Product Research Channels For Purchase Decisions, in % of B2B Buyers, 2022
- APAC: Significant Strategic Changes Planned to the Configuration And Operation of Supply Chains, in % of B2B Supply Chain Managers, 2023e
- APAC: Share of B2B Companies That Saw Improvement in Operations Within a Few Months of Cloud Adoption, in %, 2022
- APAC: Amount B2B Companies Are Willing to Spend in a Single Transaction on Digital Channels, in % of B2B Businesses, 2022
- China: Online B2B E-Commerce Market Size, in USD billion, 2022 & 2025f
- India: B2B E-Commerce Market GMV, in USD billion, 2022 & 2027f
- India: Cross-Border B2B E-Commerce Market Size, in USD billion, 2021 & 2026f
- India: B2B E-Commerce Marketplace Overview, October 2024
- 6.2. Country-Level B2B Marketplace Landscape
- 6.2.1. China
- China: Overview of Selected Top B2B E-Commerce Marketplace Alibaba, October 2024
- China: Overview of Selected Top B2B E-Commerce Marketplace AliExpress, October 2024
- China: Overview of Selected Top B2B E-Commerce Marketplace 1688, October 2024
- China: Overview of Selected Top B2B E-Commerce Marketplace Tmall, October 2024
- China: Overview of Selected Top B2B E-Commerce Marketplace Joybuy, October 2024
- China: Overview of Selected Top B2B E-Commerce Marketplace Global Sources, October 2024
- China: Overview of Selected Top B2B E-Commerce Marketplace Made-in-China, October 2024
- China: Overview of Selected Top B2B E-Commerce Marketplace DHGate, October 2024
- China: Overview of Selected Top B2B E-Commerce Marketplace China.cn, October 2024
- China: Overview of Selected Top B2B E-Commerce Marketplace HKTDC, October 2024
- 6.2.2. India
- India: Overview of Selected Top B2B E-Commerce Marketplace IndiaMART, October 2024
- India: Overview of Selected Top B2B E-Commerce Marketplace TradeIndia, October 2024
- India: Overview of Selected Top B2B E-Commerce Marketplace Udaan, October 2024
- India: Overview of Selected Top B2B E-Commerce Marketplace Alibaba India, October 2024
- 6.2.3. Japan
- Japan: Overview of Selected Top B2B E-Commerce Marketplace MontaRO, October 2024
- Japan: Overview of Selected Top B2B E-Commerce Marketplace ASKUL, October 2024
- Japan: Overview of Selected Top B2B E-Commerce Marketplace Caddi, October 2024
- 6.2.4. Asia-Pacific
- South Korea: Overview of B2B Marketplaces, October 2024
- Australia: Overview of B2B Marketplaces, October 2024
- Thailand & Indonesia: Overview of B2B Marketplaces, October 2024
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