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TMCNet:  Asia-Pacific's Top 10 Mobile Wallet Company Profiles 2019: Alipay, WeChat Pay, Rakuten Pay, LINE Pay, Samsung Pay, Kakao Pay, Paytm, PhonePe, GrabPay, & GO-PAY

[April 04, 2019]

Asia-Pacific's Top 10 Mobile Wallet Company Profiles 2019: Alipay, WeChat Pay, Rakuten Pay, LINE Pay, Samsung Pay, Kakao Pay, Paytm, PhonePe, GrabPay, & GO-PAY

DUBLIN, April 4, 2019 /PRNewswire/ -- The "Asia-Pacific Top 10 Mobile Wallet Profiles 2019" report has been added to ResearchAndMarkets.com's offering.

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Asia-Pacific is the world leader when it comes to the adoption of mobile payments. In 2019, more than one in two smartphone users in this region are expected to make contactless mobile payments in-store, according to a forecast cited in the report. The number of mobile wallets in China from providers such as Alipay and WeChat Pay surpassed half a billion people in 2017 and is projected to remain on the growth path through 2022. Another fast growing market for mobile wallets in Asia-Pacific is India. The value of mobile wallet transactions is projected to more than double between 2018 and 2021, benefitting the top competitors such as Paytm and PhonePe.

Japan has lagged behind the countries such as China, India and South Korea in terms of mobile wallet adoption, but has shown some improvement in the recent years, as reported in this publication. The number of QR-based wallet users in this country is projected to see strong double-digit growth rates through 2021 and companies such as Rakuten, LINE, SoftBank and Yahoo! Japan have already embarked on this emerging opportunity. Furthermore, the ASEAN countries are also gradually adopting digital wallets. The trend is championed by popular ride-hailing services such as GrabTaxi and GO-JEK, which both launched their own mobile wallets.

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. 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 report. Furthermore, consumers in Japan are also starting to adopt innovative mobile payment methods offered by companies such as Rakuten and LINE.

Questions Answered in this Report

  • How is the mobile payment market evolving across Asia-Pacific?
  • Which countries of this region are leading in mobile payment adoption rate?
  • What are the top mobile wallets in the countries of Asia-Pacific?
  • How do Alipay, Kakao Pay, LINE Py, WeChat Pay and others stack up in different countries?
  • How do they differ in coverage and functionalities?


Key Topics Covered:

1. Mobile Wallet Market & Rankings
1.1. Global
Proximity Mobile Payment User Penetration, by Region, incl. Asia-Pacific, in % of Smartphone Users, 2017-2022f
1.2. Asia-Pacific Regional
Proximity Mobile Payment User Penetration, by Australia, China, India, Indonesia, Japan, and South Korea, in % of Smartphone Users, 2017-2022f
1.3. China
Number of Mobile Payment Users, in millions, and Penetration, in % of Mobile Internet Users, 2014 - 2018
Proximity Mobile Payment Users Number, in millions, and Penetration, in % of Smartphone Users, 2017 - 2022f
Third-Party Mobile Payment Transaction Value, in CNY trillion, 2015 - 2020f
Breakdown of Frequency of Using Mobile Payments, in % of Users, 2018
Payment Methods Used by Chinese Tourists During Overseas Travel, in % of Chinese Tourists Travelling Overseas, 2017 & 2018
Top 5 Third-Party Payment Services, in % of Users, August 2018
Top 3 Third-Party Mobile Payment Providers by Market Share, in %, Q3 2018
1.4. Hong Kong
Share of Bank Customers Frequently Using Mobile Payment Services, in %, January 2018
Top 2 Mobile Wallets Used by Retail Banking Customers, in %, December 2018
1.5. Taiwan
Mobile Payment User Penetration, in % of Smartphone Users, 2017 & 2018
Mobile Payment Usage Locations, in % of Mobile Payment Users, Q3 2018
Breakdown of Most Used Mobile Payment Services, in % of Mobile Payment Users, Q3 2018
1.6. Japan
Proximity Mobile Payment User Penetration, in % of Smartphone Users, 2018e & 2022f
Proximity Mobile Payment Transaction Value, in JPY trillion, and Year-on-Year Change, in %, FY 2017 - 2023f
Share of Smartphone Owners Who Have Used QR Code Payment, in %, January 2019
Mobile Payment Users, by E-Money and QR-based Smartphone Payments, in millions, FY 2016 - FY 2021f
Locations of Using Mobile Payment, in % of Mobile Payment Service Users, by Rural and Urban, May 2018
Share of Smartphone Owners Who Started to Use a New Mobile Payment Service in 2018, in %, and Top 15 Mobile Payment Services that Smartphone Owners Started to Use, in of %, November 2018
Top 10 Mobile Payment Services Used, in % of Mobile Payment Users, June 2018
Top 10 QR-Based Mobile Payment Services, in % of Users, December 2018
1.7. South Korea
Proximity Mobile Payment User Penetration, in % of Smartphone Users, 2017-2022f
Overview of Four Selected Leading Mobile Payment Services, incl. Provider, Launch Date, Channels, Number of Users and Cumulative Transaction Value, 2018
1.8. Australia
Number of Users of Digital Payment Services, in thousands, and Penetration, in % of Population, 12 Months to March 2018
Top Mobile Payment Services Used to Pay In-Store, in % of Respondents, 2017 & 2018
Breakdown of E-Commerce Transactions by Payment Method, in %, April 2018
1.9. India
Proximity Mobile Payment Users Number, in millions, and Penetration, in % of Smartphone Users, 2017 - 2022f
Mobile Payments, in USD billion, FY 2018e & FY 2023
Mobile Wallets Transaction Value, in INR trillion, and Year-on-Year Growth Rate, in %, 2016 - 2021f
Top Mobile Wallets Used, in % of Young Urban Mobile Wallet Users, March 2018
Number of App Downloads of Selected Mobile Wallets, in millions, August 2018
1.10. Indonesia
Mobile Payment App User Penetration, in % of Internet Users, 2017
Mobile Payment Transaction Value, in IDR trillion, 2016 - 2020f
Number of E-Money Transactions, in millions, and Value, in IDR billion, 2012 - 2018e
E-Money Usage Cases, in % of Mobile Users, by Gender, January 2018
Most Used E-Money Services, in % of Mobile Users, January 2018
1.11. Singapore
Mobile Payment Transaction Value, in USD billion, 2016 & 2021f
1.12. Malaysia
Non-Cash Payment Methods Used, in % of Individuals Using Non-Cash Payment Methods, 2018
Number of E-Money Transactions, in millions, and Value, in MYR billion, 2013 - 2018
Top 5 E-Wallet Services Used, in % of Users, October 2018
1.13. Philippines
Digital Wallet Transaction Value, in USD million, 2018f & 2021f

2. Top 10 Mobile Wallet Profiles
Profile of Alipay, February 2019
Profile of WeChat Pay, February 2019
Profile of Rakuten Pay, February 2019
Profile of LINE Pay, February 2019
Profile of Samsung Pay, February 2019
Profile of Kakao Pay, February 2019
Profile of Paytm, February 2019
Profile of PhonePe, February 2019
Profile of GrabPay, March 2019
Profile of GO-PAY, March 2019

For more information about this report visit https://www.researchandmarkets.com/research/cfm3x6/asiapacifics?w=5

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SOURCE Research and Markets


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