Asia-Pacific’s Mobile Wallet Market Expands, According to a New Report by yStats.com

Hamburg, Germany, March 30, 2019 –(PR.com)– Asia-Pacific tops the world in mobile wallet adoption

Asia-Pacific has the world’s highest mobile payment user penetration, surpassing 50% of smartphone users in 2019, according to the market data cited by yStats.com. The largest market in the region, China, has more than half a billion of mobile wallet users and continues to grow. The top competitors in this country include Alipay and WeChat Pay, which combined, processed the lion’s share of transaction value in 2018. Another mobile leader, India, is also expected to see strong growth reflected in the doubling of the value of mobile wallet payments by 2021.

Local mobile wallet solutions are growing across the region

In addition to Alipay and WeChat Pay, other local competitors have emerged to tap into mobile wallets’ growth in Asia-Pacific. These include Paytm and PhonePe in India and GrabPay and GO-PAY in Southeast Asia, described in the yStats.com report. Furthermore, consumers in Japan are also starting to adopt innovative mobile payment methods offered by companies such as Rakuten and LINE.

For further information, see: https://www.ystats.com/wp-content/uploads/2019/03/2019.03.25_Product-Brochure-Order-Form_Asia-Pacific-Top-10-Mobile-Wallet-Profiles-2019.pdf

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About yStats.com
Founded in 2005 and headquartered in Hamburg, Germany, yStats.com is one of the world’s leading secondary market research companies. We are committed to providing the most up-to-date and objective data on Global B2C E-Commerce and Online Payment markets to sector-leading companies worldwide.

Our multilingual staff researches, gathers, filters and translates information from thousands of reputable sources to synthesize accurate and timely reports in our areas of expertise, covering more than 100 countries and all global regions. Our market reports focus predominantly on online retail and payments, but also cover a broad range of related topics including M-Commerce, Cross-Border E-Commerce, E-Commerce Delivery, Online Gaming and many others. In addition to our wide selection of market reports, we also provide custom market research services.

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