Features
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eCommerce growth
eCommerce revenue in Asia is expected to reach USD 2.82 trillion by 2027*. * Source: Statista, 2023
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eWallets phenomenon
eWallets have emerged as the preferred payment method in Asia, accounting for 69% of the total eCommerce purchases in the region*. * Source: Statista, 2023
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Internet users
The internet penetration rate in Asia doubled from 2011 to 2022, reaching 67.4%*. * Source: Statista, 2023
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Online shoppers
The number of online shoppers in Asia is forecast to reach 3.38 billion by 2027*. * Source: Statista, 2023
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Country List
Bangladesh
Bangladesh is a fast-growing eCommerce market, mainly due to the boost received from the Bangladesh Bank since the late 2000s. With a significant dependency on the Cash-on-Delivery payment method, currently used in 90% of online transactions, the credit and debit card usage is gradually gaining speed. Twelve million people (7% of the country’s population) use debit cards, and approximately 1 million (less than 1%) use credit cards. Understanding Bangladesh consumers and offer local payment methods are the key for all merchants looking to set their footprint in this market.
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Bank Transfers
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China
China has the largest eCommerce revenue in the world: USD 1.305B*.
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Credit and debit cards
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Bank Transfers
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Philippines
The projected market volume is expected to reach $25 billion by 2027.
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Credit and debit cards
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Wallets
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Cash-based payments
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Bank Transfers
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India
The world's most populated country is growing in business opportunities.
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Credit and debit cards
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Bank Transfers
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Unified payment service (UPI)
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Indonesia
eWallets are the most popular payment method in Indonesia*.
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Credit and debit cards
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Wallets
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Cash-based payments
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Bank Transfers
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Malaysia
The country's eCommerce is projected to be one of the largest in Southeast Asia, with an annual growth rate of 13.25%*.
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Credit and debit cards
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Wallets
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Cash-based payments
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Bank Transfers
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Buy Now, Pay later
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Pakistan
The fastest growing alternative payment method in Pakistan, a country with a population of over 241 million, is the eWallet. eWallets such as JazzCash and Easypaisa making eCommerce, transactions and coverage easier than ever for businesses and consumers alike. Previously, many digital purchases were paid using cash-on-delivery (CoD), but this is slowly changing as internet access becomes more common.
The rapid growth of internet penetration has risen rapidly, averaging over 35% per year. This has caused a shift in many businesses to become mobile first. Digital transactions and internet banking are expected to grow as the over 100 million Internet subscribers become more acquainted with eCommerce.
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Credit and debit cards
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Wallets
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Bank Transfers
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Thailand
With a population of 69 million people, Thailand has a GDP of US$ 500 billion and an eCommerce market value of US$ 26 billion. Card payments lead as the payment method of choice in the Land of Smiles at 25.7% of market share with bank transfers (23.8%) and eWallets (22.8%) close behind, although the usage of digital wallets is predicted to increase and gain a market share of 28%.
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Credit and debit cards
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Wallets
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Cash-based payments
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Bank Transfers
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Vietnam
Merchants selling into Vietnam can accept international cards such as Visa, MasterCard and UCB, as well as local credit cards and wallets such as VTC Pay, Vietcombank, Techcombank, and more.
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Credit and debit cards
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Wallets
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Bank Transfers
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Most commonly used payment methods
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UPI
Unified payment Interface (UPI) -
PhonePe
Wallets -
paytm
Wallets -
true money
Wallets -
Alipay
Wallets -
Shopee Pay
Wallets -
DuitNow
Wallets -
GCash
Wallets