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February 04, 2019
The outlook for eCommerce across Asia Pacific continues to be defined by extraordinary growth. Asia Pacific is the leading eCommerce region globally and stands at the forefront of payment innovation, particularly in terms of mobile commerce and the rise of frictionless, invisible payments – offering convenience so seamless that the act of payment is effortless.
Here are Worldpay’s predictions for Asia Pacific’s eCommerce market in 2019 and beyond1:
Across specific markets in Asia Pacific, Worldpay expects the following trends to emerge:
Phil Pomford, general manager for Asia Pacific, Global Enterprise eCommerce at Worldpay, said: “In 2019, it’s more important than ever for merchants to tailor their mix of payment methods to match the preferences of local shoppers.”
“Asia leads the way in a trend we’ve seen across the globe – the rise of mCommerce and alterative payments like eWallets, both in-store and online, as consumers increasingly seek the most friction-free shopping and payment experience. With some of the highest rates of smartphone penetration in the world and a preference for digital payment methods like eWallets, it’s no surprise that consumers in Asia Pacific are eager for more opportunities to enjoy the shopping experiences they love via innovative new channels.”
“The most important advice for retailers is providing a consistent overall retail experience that matches brand attributes, so that consumers can enjoy seamless and secure shopping and payments from desktop, to mobile, to bricks-and-mortar.”
About the 2018 Global Payments Report
The 2018 Global Payments Report offers a snapshot of the current payment landscape across 36 countries globally. Worldpay’s Market Intelligence team compiles the Global Payment Report using a combination of authoritative third-party vendors and other publicly available data. This compiled data was analyzed using Worldpay’s proprietary data model and categorization scheme, with support from McKinsey. The report also draws upon Worldpay’s decades of experience in providing global eCommerce solutions, informed by our processing of more than 40 billion transactions annually via more than 300 payment types, across 146 countries and 126 currencies.
The projected growth figures contained in this report were sourced from GlobalData and McKinsey and relate to the industry as a whole, not Worldpay’s business. The data has been collected using consumer surveys, B2B surveys and input from local research teams. 45,000 consumers were surveyed globally.
Any indicative predictions based on the data we have used should be treated as such. No representation or warranty, expressed or implied, is made by Worldpay, Inc.3 and/or any of its affiliates, directors, officers, employees, agents or advisers as to the reliability, accuracy, timeliness or completeness of any information, opinions or analysis contained in this document, which is not intended to be relied upon by you or any person for any purpose whatsoever.
Worldpay, Inc. (NYSE: WP; LSE: WPY) is a leading payments technology company with unique capability to power global omni-commerce. With an integrated technology platform, Worldpay offers a comprehensive suite of products and services, delivered globally through a single provider. Worldpay processes over 40 billion transactions annually, supporting more than 300 payment types across 146 countries and 126 currencies. The company is focused on expanding into high-growth markets and customer segments, including global eCommerce, integrated payments and B2B. Visit us at www.worldpay.com.
1Figures refer to Worldpay’s 2018 Global Payments Report
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