Asia Pacific Online Payment Methods - First Half 2014

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Security and convenience of payments as the top factors for online shoppers in Asia-Pacific

Digital wallets had a substantial share on total B2C E-Commerce payments in the Asia-Pacific region, though still behind credit and debit card. “Security“ and “Convenience of the Payment Method“ were among the top decision factors in B2C E-Commerce for online shoppers in the region.

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Asia Pacific Online Payment Methods - First Half 2014

  1. 1. yStats.com GmbH & Co. KG • Behringstrasse 28a • D-22765 Hamburg • Phone +49 (0) 40 39 90 68 50 • Fax +49 (0) 40 39 90 68 51 press@ystats.com • www.ystats.com • www.twitter.com/ystats • www.linkedin.com/company/ystats • www.facebook.com/ystats WE DELIVER THE FACTS YOU MAKE THE DECISIONS RESEARCH ON INTERNATIONAL MARKETS Press Release Hamburg, May 22nd, 2014 Security and convenience of payments as the top factors for online shoppers in Asia-Pacific Published recently by Hamburg-based secondary research organization yStats.com, “Asia-Pacific Online Payment Methods: First Half 2014“, reviews the variety of payment methods that consumers in the region prefer when shopping online. Among the findings of the report is that security and convenience of payment were important factors in the online shopping decision. Security remains a major issue on the global online payments market. Surveys show that more than a third of Internet users globally who do not shop online cite distrust to online payments as their reason for not making purchases, though this consumer concern varies greatly by country and region. Moreover, an important trend is integration of payments across various channels. Banks, payment processers, card companies and multi-channel merchants globally are working toward integration of online payments with mobile and POS payment, while mobile wallets start to offer services beyond mobile payments, and merchants increasingly opt for a single payment provider across channels. In Japan, payments in B2C E-Commerce are dominated by prepayment with a credit card, followed by cash or card payments upon delivery in distant second. Over the counter payments for online purchases also are popular. Though NFC payments arrived in Japan in 2013, contactless payment with cards is likely to continue dominating this market segment. In South Korea, credit card payments are most common in E-Commerce, while regulations are strict about security of such payments. In distant second, the payment method following card payments was money transfer.
  2. 2. yStats.com GmbH & Co. KG • Behringstrasse 28a • D-22765 Hamburg • Phone +49 (0) 40 39 90 68 50 • Fax +49 (0) 40 39 90 68 51 press@ystats.com • www.ystats.com • www.twitter.com/ystats • www.linkedin.com/company/ystats • www.facebook.com/ystats WE DELIVER THE FACTS YOU MAKE THE DECISIONS RESEARCH ON INTERNATIONAL MARKETS Mobile payments had a boom last year in China, with gross merchandise volume of third-party mobile payment growing by around 7-8 times, sparked by mobile shopping. Still more growth is expected as competition intensifies. The number of online payment users in China topped a quarter of a billion, while value of payments increased by half. Alipay accounted for the largest share of the online payments market in China in 2013, while Tenpay was in second place. Alipay was also the largest player on the Chinese third-party payment market, with its dominance even more evident than in online payments. In other areas of Asia, the share of cash on delivery on B2C E-Commerce payments in India is forecasted to decrease from 2013 to 2016, though still account for around a half of the market as credit card and mobile payment increase there. In Indonesia, bank transfer was the most preferred payment method in B2C E-Commerce last year, followed by cash on delivery. For further information, see: http://ystats.com/uploads/report_abstracts/1084.pdf Press Contact: yStats.com GmbH & Co. KG Behringstrasse 28a, D-22765 Hamburg Phone: +49 (0)40 - 39 90 68 50 Fax: +49 (0)40 - 39 90 68 51 E-Mail: press@ystats.com Internet: www.ystats.com Twitter: www.twitter.com/ystats LinkedIn: www.linkedin.com/company/ystats Facebook: www.facebook.com/ystats About yStats.com yStats.com has been committed to researching up-to-date, objective and demand-based data on markets and competitors for top managers from various industries since 2005. Headquartered in Hamburg, Germany, the firm has a strong international focus and is specialized in secondary market research. In addition to offering reports on markets and competitors, yStats.com also carries out client- specific research. Clients include leading global enterprises from various industries including B2C E- Commerce, electronic payment systems, mail order and direct marketing, logistics, as well as banking and consulting.

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