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.

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 Pay, 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

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

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