Digital wallets surge in popularity in APAC
One in five smart phone users in Asia Pacific
now shopping with a digital wallet
MasterCard’s latest
Mobile Shopping Survey reveals that consumers in Asia Pacific are embracing new
mobile technologies with one in five or (19.5 percent) using digital wallets, a
two-fold increase from two years ago (9.7 percent).
Emerging markets are leading the
way with smart phone users in China (45.0 percent), India (36.7 percent) and
Singapore (23.3 percent) the region’s biggest adopters of digital wallets. The results are based
on interviews that took place between October and December 2015with 8,500
people aged 18-64 across 14 markets in Asia Pacific.
While mobile banking apps (31.8
percent) are still the most widely used among other new mobile technologies such
as in-app shopping and mobile NFC payments, digital wallets have seen the
fastest uptake over the last two years.
In addition, consumers continue
to embrace mobile shopping with half in Asia Pacific having made a purchase
using their smart phone in the three months. Unsurprisingly, the markets that
have seen strong uptake of digital wallets are also where the majority of
people are using their mobiles to shop.
Overall, close to half of
respondents (48.5 percent) across the region have made a purchase using their
smart phone in the past three months, led by those in India (76.4 percent),
China (76.1 percent), South Korea (62.0 percent) and Thailand (61.1 percent).
India also tops the region in
growth rates, with the number of people shopping on smart phones rising by 29.3
percent from two years ago, followed by Vietnam (17.7 percent) and Singapore
(17.1 percent).
Australians (23.7
percent) and New Zealanders (16.2 percent) are the least likely to shop online
via their mobile phones.
More than half of the respondents
across Asia Pacific (53.9 percent) cited convenience as the key driver for
shopping on their smart phone. Other motivating factors include the ability to
shop on the go (42.9 percent) and the growing availability of apps that make it
easy to shop online (41.4 percent).
Clothing and accessories (35
percent), personal care and beauty products (20.9 percent) and movie tickets (20.4
percent) are the top mobile shopping purchases amongst Asia Pacific consumers. Close to half of consumers in China (46.4
percent), India (42.5 percent) and Korea (42.1 percent) shop for clothing and
accessories on their smart phone.
In the Philippines, an increase
in mobile shopping was also noted, with 40.9 percent purchasing an item via
smart phone in the past three months. Similar to their counterparts in Asia
Pacific, Filipinos’ top mobile shopping purchases are 31.5 percent clothes and
other fashion accessories, 21.7 percent personal care and beauty products, and
18.3 percent home appliances. Filipinos
point to being able to shop on the go and convenience as primary reasons for
mobile shopping.
When it comes to new mobile
technologies for business and online shopping, 33.5% of Filipinos are more
familiar and likely to use mobile banking apps.
Digital wallets come second at 17 percent, which has risen from 10.3
percent in the past years.
Raj
Dhamodharan, Group Head, Digital Payments, Asia Pacific,
MasterCard commented “New forms of mobile payment technology, such as MasterCard’s
digital wallet MasterPass,
are making transactions easier and safer, online, in-app and in-store. As more and more merchant apps provide
shopping and services, consumers need a digital wallet that provides the best
balance between security and convenience. We are already seeing that demand in
many markets in Asia Pacific from India to Singapore to Australia. In Singapore
for example consumers are using their MasterPass wallet to pay their bills and book taxis. In each of these cases we worked with merchants to enable
safe and simple in app payments using MasterPass."
About MasterCard
MasterCard (NYSE:
MA), www.mastercard.com, is a technology company in
the global payments industry. We operate the world’s fastest payments
processing network, connecting consumers, financial institutions, merchants,
governments and businesses in more than 210 countries and territories.
MasterCard’s products and solutions make everyday commerce activities – such as
shopping, traveling, running a business and managing finances – easier, more
secure and more efficient for everyone. Follow us on Twitter @MasterCardAP and @MasterCardNews, join the discussion on
the Beyond the
Transaction Blog and subscribe for the latest news on
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Bureau.
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