This market report gives an overview of the mobile payments landscape of Asia. It covers markets where Fortumo has coverage. These markets are Indonesia, Pakistan, Bangladesh, Philippines, Vietnam, Thailand, Myanmar, South Korea, Malaysia, Taiwan, Cambodia, Hong Kong and Singapore.
The growth of the mobile audience in Western markets is slowing down. But in Asia, the mobile audience is growing at an increasing rate. This can be attributed to availability of cheap Android smartphones (the global average price of Android smartphones is 3 times lower than iPhones) which are also affordable by people with a lower income.
Entering the rapidly growing markets in Asia is a significant opportunity for digital content merchants, but also involves additional work in terms of localization. The key aspects that should be considered by merchants expanding are: language (few people speak English), pricing (lower income), access to payment methods (lack of credit cards), social networks (local networks are often more popular than Facebook and Twitter), devices (cheaper phones means less technological capability) and lack of access to mobile data (need to make apps available offline).
As can be seen from the report, in a majority of the countries the average revenue per paying user (ARPPU) and average transaction size with carrier billing has declined over the year. At the same time, there has been a massive growth in the amount of end-users making payments. These two trends strongly correlate with each other. Early adopters with a higher income are the first to adopt carrier billing, while the people adopting carrier billing later generally have a lower income and are able to pay less.
Fortumo’s Asian market report gives a high-level overview of the biggest markets in the region as well as insights on user spending behavior, localization and platform preferences. Data presented in the white paper has been taken from public sources of information as well as anonymized, aggregated data on payments processed by merchants using Fortumo’s cross-platform mobile payments product.
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Fortumo is a mobile payments company that enables direct carrier billing with more than 350 mobile operators in 90+ countries. Fortumo's payment products work across a wide range of platforms including desktop devices, smartphones, feature phones, tablets and smart TV-s. These products give consumers a simple, 1-click payment method to charge online purchases to their phone bill. For app stores, digital media companies and game developers, Fortumo provides one integration with 350 mobile operators as well as a single point of contact for settlements, reporting, support and infrastructure upgrades. Founded in 2007, Fortumo has offices in Estonia, San Francisco, Beijing, Delhi, Singapore & Hanoi and is backed by Intel Capital and Greycroft Partners.