Asia-Pacific Digital Payment Forecast Report 2022: Over 65% of the Population in China is Forecast to Use Proximity Mobile Payments by 2025

News provided by

Feb 21, 2022, 05:30 ET

DUBLIN, Feb. 21, 2022 /PRNewswire/ -- The "Snapshot: Asia-Pacific Digital Payment Forecasts 2022-2025" report has been added to ResearchAndMarkets.com's offering.

The report provides insights into the future trends of the APAC digital payment market. Among other findings, the publication reveals that by 2025, mobile wallet user penetration in India is projected to nearly double to almost a third of the population.

By 2025 the volume of non-cash transactions in the APAC region is forecasted to surpass the one trillion mark

The APAC online payments industry was profoundly shaped by the COVID-19 global health crisis in 2020, which has led to a major advancement in the market. The rate of adoption of cashless payments has accelerated dramatically and is projected to grow even more. In fact, the region is estimated to add the most value to the number of cashless payments compared to other regions worldwide in 2021 and further.

Asia-Pacific is expected to be the global leading market for mobile wallet payments

The COVID-19 pandemic has accelerated the use of mobile payments worldwide since 2020. This is attributed to the enhanced security and cross-channel payment features of mobile contactless payments. In 2021, China is expected to be the leading country in the share of contactless mobile payment users, accounting for more than 4 out of 5 smartphone users, followed by South Korea. In addition, mobile wallets have become the primary way to make payments in a number of nations, as authorities attempt to reduce the use of cash. In Asia-Pacific, for example, the number of mobile wallets in use is projected to more than double from 2021 to 2025.

Questions Covered in the report:

What is the projected value of cashless transactions in the Asia-Pacific region in 2025?
Which payment form is forecasted to contribute the most to the total smart payment transaction value in Japan by 2026?
What country in APAC is predicted to reach the largest volume of proximity mobile wallets in use by 2025?
How are the digital transaction value and volume projected to develop by 2025 in India?

Companies Mentioned

Alipay
Android Pay
Apple Pay
Paypal
Samsung Pay

Key Topics Covered:

1. Management Summary

2. Global Developments

Non-Cash Transaction Volume, by Regions, in billions, and Y-o-Y Change of Global, in %, 2020-2025f
B2B Non-Cash Transaction Volume, by Regions, in billions, and Y-o-Y Change of Global, in %, 2019-2025f
Number of Mobile Contactless Transactions, in billions, 2021e & 2023f
Number of Cashless Transactions, in billions, CAGR, in %, 2020, 2025f & 2030f
Proximity Mobile Payment Users in Select Countries, in % of Smartphone Users, 2021e

3. Asia-Pacific

For more information about this report visit https://www.researchandmarkets.com/r/5vv0kb

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

SOURCE Research and Markets