The Asian market consists of several of the world’s largest and most populated economies, offering a diverse range of payment options: e-Wallets are the most popular payment system in the region, with credit and debit cards, bank transfers, and cash-on-delivery also widespread methods.
In China, credit card penetration remains slow, predicted to grow from 16% in 2014 to 44% in 2025. Instead, over 400 million users prefer to rely on Alipay, China’s most popular third-party online payment service.
Indonesia and India both have a large population without bank accounts or internet access, preferring cash-on-delivery payments.
As preferences tend to vary by country, there is a large range of payment methods to consider integrating in hopes of reaching consumers in the APAC region.