Everything you need to know about payment localization in today’s fastest growing markets
APAC

China is one of the fastest-growing major economies in the world. In 2017, e-commerce in China generated close to $1 trillion in sales. The demand for e-commerce is fueled by rapid smartphone adoption, increased Internet penetration, availability of secure online payment mechanisms and reduced delivery times. Fuelled by growing prosperity, Chinese e-commerce continues to expand rapidly – by 27% a year. Chinese online shoppers most commonly use e-wallets to pay for goods and services. The most popular categories are clothing, travel, and food.
Internet penetration: 57% | Smartphone penetration: 83%
E-wallet | 49% |
Credit card | 25% |
Cash | 9% |
Online bank | 8% |
Other | 9% |
Online Bank Transfers
Credit & debit cards

With a population of over 1.36 billion, India is the world’s second most populous country. From 2014 to 2016, it was the world’s fastest-growing economy but was overtaken by China in 2017. Fueled by multilateral digitization efforts that are bringing 1 billion of India’s citizens online and into the financial mainstream, the country’s $42.4 billion e-commerce market is undergoing tremendous expansion. By 2021, it is expected to reach $64 billion, growing at a compound annual growth rate of 23%.
Internet penetration: 41% | Smartphone penetration: 40%
Cash | 26% |
Credit card | 23% |
Debit card | 18% |
Online bank | 9% |
Domestic card | 6% |
Other | 18% |
Immediate payment service
Online bank transfers
Local cards
Online bank transfers

With the fourth biggest population in the world, and yet the least-developed e-commerce market in Southeast Asia, Indonesia is facing a dramatic rise in the market size, going from just over $3 billion in 2015 to $11 billion in 2019. Almost 56% of the population is currently online, and the number of debit and credit cards issued is only 15%. As with many developing economies, the shift online is happening through mobile, with over 90% of online users in Indonesia going online via their phone.
Internet penetration: 56% | Smartphone penetration: 60%
Bank transfer | 50% |
International credit card | 20% |
Cash | 13% |
E-wallet | 7% |
Debit card | 6% |
Domestic credit card | 2% |
Other | 2% |
Cash
Bank transfers
Local credit & Debit Cards
e-Wallets