Asia-Pacific Mobile Payments Services Market, Forecast to 2025

Asia-Pacific Mobile Payments Services Market, Forecast to 2025

Mobile Payments Capabilities in the Region Continue to Lead the World Driven by Innovative Use Cases and Viable Business Models

RELEASE DATE
24-Jul-2020
REGION
Asia Pacific
Research Code: 9ABE-00-4C-00-00
SKU: CI00701-AP-MR_24435

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Description

As countries are making a conscious shift towards cashless societies, mobile payments are expected to be an alternate digital payments solution for consumers. Majority of the population already has access to internet and mobile phones, therefore mobile payments have the potential to reach people with diverse backgrounds, such as the older generation and the rural population.

Asia-Pacific (APAC) is expected to continue to lead the world in mobile payment developments. Across the region, payments infrastructures are being built, regulations are being drafted, and partnerships are being encouraged. This will greatly increase the security and convenience of mobile payments security, leading to a higher adoption rate of mobile payments.

The mobile payments landscape differs by countries but a general comparison can be made between developed countries and developing countries. Mobile payments growth is faster in developing countries because of the active participation from both the government and the industry. In developed countries, the market is more industry-led, thus the growth highly emphasizes on profit for the market participants.

Multiple mobile payments providers are competing for market share across different countries. It is important for mobile payments providers to take into account the differences in government regulations, payments infrastructure, and consumers’ behavior in different countries. These factors will affect the effectiveness of a business model in increasing and retaining its user base.

The security aspect of mobile payments will continue to be a major area of concern. Mobile payments carry sensitive data over the Internet; therefore providers need to assure consumers that the platform is secure and trustworthy.

This study also briefly analyzes the growth opportunities in other markets, such as online payments, cross-border payments, and B2B mobile payments. With the advancement in technology, such as 5G and ISO20022, the market will be able to provide an innovative solution to address the problems and meet the demands in these markets.

This study is based on extensive secondary research. Companies mentioned in this study include but are not limited to AirPay, Ali Pay, ANZ goMoney, Apple Pay, Beem It, Boost, CIMB Pay, D-barai, DANA, Fave Pay, GoMobile, Google Pay, Go-Pay, Grab Pay, iSaku, Jenius, Kakao Pay, LG Pay, LINE Pay, LinkAja, Maybank Pay, Merpay, Mobikwik, Moca, MoMo, Naver Pay, NextPay, NHN Payco, Origami Pay, OVO, Payoo, PayPay, Paytm, PhonePe, PixivPay, Rakuten Pay, Sakuku, Samsung Pay, Starbucks, Touch ‘n Go, Toss, TrueMoney, vCash, Venmo, ViettelPay, WeChat Pay, ZaloPay, and Zelle.

Countries covered include Australia, China, India, Malaysia, Indonesia, Thailand, Singapore, Vietnam, South Korea, Japan, New Zealand, Philippines, and the United States (as a reference for APAC).

Table of Contents

Executive Summary

Key Findings—Country Specific (Developed)

Key Findings—Country Specific (Developing)

Market Definitions

Key Questions this Report will Answer

Mobile Payments in APAC—Market Trends

Market Drivers

Market Restraints

Market Drivers—Developed Countries in APAC

Market Restraints—Developed Countries in APAC

Market Drivers—Developing Countries in APAC

Market Restraints—Developing Countries in APAC

Summary of Mobile Payments in APAC

Summary of Mobile Payments in APAC (continued)

Summary of Mobile Payments in APAC (continued)

Summary of Mobile Payments in APAC (continued)

Forecast Assumptions

Transaction Value and Volume Forecast—APAC

Transaction Value and Volume Forecast Discussion—APAC

Percent Transaction Value Forecast by Country

Percent Transaction Value Forecast Discussion by Country

Active Customers and Transaction Value Forecast—China

Active Customers and Transaction Value Forecast Discussion—China

Transaction Value and Volume Forecast—India

Transaction Value and Volume Forecast Discussion—India

The United States—Market Overview

The United States—Market Overview (Continued)

The United States—Key Market Players

The United States—Market Analysis

The United States—Market Analysis (Continued)

Japan—Market Overview

Japan—Key Market Players

Japan—Market Analysis

South Korea—Market Overview

South Korea—Key Market Players

South Korea—Market Analysis

Australia—Market Overview

Australia—Market Overview (continued)

Australia—Key Market Players

Australia—Market Analysis

Singapore—Market Overview

Singapore—Key Market Players

Singapore—Market Analysis

New Zealand—Market Overview

New Zealand—Key Market Players

New Zealand—Market Analysis

Cashless Society

The Impact of NUCC on Alipay and WeChat Pay

Credit Scoring System in China

Alibaba Sesame Credit and Tencent Credit

Alipay’s Footprint in Southeast Asia

Revenue Model of Alipay

WeChat

WeChat (continued)

Business Model of WeChat (excluding WeChat Pay)

Revenue Model of WeChat

SWOT Analysis—Alipay versus WeChat Pay

China—Market Analysis

India—Market Overview

India—Key Market Players

India—Market Analysis

Vietnam—Market Overview

Vietnam—Market Overview (continued)

Vietnam—Cross-border Regulations

Vietnam—Cross-border Regulations (continued)

Vietnam—Key Market Players

Vietnam—Market Analysis

Malaysia—Market Overview

Malaysia—Key Market Players

Malaysia—Market Analysis

Indonesia—Market Overview

Indonesia—Key Market Players

Indonesia—Market Analysis

Thailand—Market Overview

Thailand—Key Market Players

Thailand—Market Analysis

Philippines—Market Overview

Philippines—Key Market Players

Philippines—Market Analysis

Mobile Payments in Online and Offline Retail

Mobile Payments on Online Retail

Mobile Payments in Online Retail (continued)

Singtel VIA Alliance Case Study

Singtel VIA Alliance Case Study (continued)

Singtel VIA Alliance Case Study (continued)

Singtel VIA Alliance Case Study (continued)

“Going Cashless” versus “Going Less Cash”

Local versus Global

Local versus Global (continued)

Mobile Payments Solution of Today

What Mobile Payments in the Future Need to Be

Sustained Use of the Credit Card Model is Expected…

… Complemented by Alternate Global Solutions for eMoney

Growth Opportunity 1—Online Payments

Growth Opportunity 2—Cross-Border Mobile Payments

Growth Opportunity 3—B2B Mobile Payments

Strategic Imperatives for Success and Growth

Conclusions and Recommendations

The Last Word—3 Big Predictions

Legal Disclaimer

List of Abbreviations

List of Exhibits

List of Exhibits (continued)

The Frost & Sullivan Story

Value Proposition: Future of Your Company & Career

Global Perspective

Industry Convergence

360º Research Perspective

Implementation Excellence

Our Blue Ocean Strategy

Related Research
As countries are making a conscious shift towards cashless societies, mobile payments are expected to be an alternate digital payments solution for consumers. Majority of the population already has access to internet and mobile phones, therefore mobile payments have the potential to reach people with diverse backgrounds, such as the older generation and the rural population. Asia-Pacific (APAC) is expected to continue to lead the world in mobile payment developments. Across the region, payments infrastructures are being built, regulations are being drafted, and partnerships are being encouraged. This will greatly increase the security and convenience of mobile payments security, leading to a higher adoption rate of mobile payments. The mobile payments landscape differs by countries but a general comparison can be made between developed countries and developing countries. Mobile payments growth is faster in developing countries because of the active participation from both the government and the industry. In developed countries, the market is more industry-led, thus the growth highly emphasizes on profit for the market participants. Multiple mobile payments providers are competing for market share across different countries. It is important for mobile payments providers to take into account the differences in government regulations, payments infrastructure, and consumers’ behavior in different countries. These factors will affect the effectiveness of a business model in increasing and retaining its user base. The security aspect of mobile payments will continue to be a major area of concern. Mobile payments carry sensitive data over the Internet; therefore providers need to assure consumers that the platform is secure and trustworthy. This study also briefly analyzes the growth opportunities in other markets, such as online payments, cross-border payments, and B2B mobile payments. With the advancement in technology, such as 5G and ISO20022, the market will be able to provide an innovative solution to address the problems and meet the demands in these markets. This study is based on extensive secondary research. Companies mentioned in this study include but are not limited to AirPay, Ali Pay, ANZ goMoney, Apple Pay, Beem It, Boost, CIMB Pay, D-barai, DANA, Fave Pay, GoMobile, Google Pay, Go-Pay, Grab Pay, iSaku, Jenius, Kakao Pay, LG Pay, LINE Pay, LinkAja, Maybank Pay, Merpay, Mobikwik, Moca, MoMo, Naver Pay, NextPay, NHN Payco, Origami Pay, OVO, Payoo, PayPay, Paytm, PhonePe, PixivPay, Rakuten Pay, Sakuku, Samsung Pay, Starbucks, Touch ‘n Go, Toss, TrueMoney, vCash, Venmo, ViettelPay, WeChat Pay, ZaloPay, and Zelle. Countries covered include Australia, China, India, Malaysia, Indonesia, Thailand, Singapore, Vietnam, South Korea, Japan, New Zealand, Philippines, and the United States (as a reference for APAC).--BEGIN PROMO--

Key Issues Addressed

  • What is the scope of mobile payments services in APAC? What are the capabilities that are being offered via mobiles?
  • Who are the key market players and what are their service offerings?
  • What is the revenue upside and how payment capabilities in apps can improve the efficiency of business processes and reduce manpower requirements?
  • What are the risks of implementing a mobile payments service? What are updates on the governing local regulations and standards?
  • Why global, standard, and interoperable digital payments solutions are needed to grow the mobile payments services market and to achieve a cashless society?

Author: Mei Lee Quah

 

More Information
No Index No
Podcast No
Author Mei Lee Quah
Industries Cross Industries
WIP Number 9ABE-00-4C-00-00
Is Prebook No
GPS Codes 9702-C1,9705-C1,9657,9838-C1,9A66-C1