Share of e-commerce payment methods APAC 2023
In 2023, digital wallets accounted for the largest share of e-commerce payment methods in the Asia-Pacific region with 70 percent. According to the source, the share was forecast to increase to a share of 77 percent by 2027.
The rise of electronic payments
As e-commerce continues to grow in APAC, consumers are increasingly switching to different payment methods. The number of mobile wallet users was especially high in Indonesia, with over 100 million users. Popular e-payment services in Asian countries and territories mostly include domestic payment services. However, the American payment service PayPal was among the top three e-payment services in some APAC regions. One of the leading reasons for making e-payments was convenience, but users were also in favor of ease of use.
Smartphones as an all-rounder device
Consumers in APAC mostly preferred to shop in physical stores to buy goods, but online purchases via mobile phones or computers were becoming more popular, especially in China and Vietnam. Mobile commerce sales accounted for over 70 percent of the total e-commerce share in China, and they are forecast to continue to rise in APAC by 2026.
