Australia 🇦🇺 and New Zealand 🇳🇿: Over 50% of retail transactions in Australia are made with credit and debit cards. BNPL’s like AfterPay and Zip are popular.
eftpos is very popular, it is a domestic payments network that facilitates the transfer of funds electronically when debit or some credit payments cards are used at the point-of-sale. As of recent years, eftpos now also allows NFC technology (tap and go, contactless payments), much like Mastercard and Visa.
New Zealand 🇳🇿: New Zealand has the lowest proportion of cash to GDP in circulation in the world.
Hong Kong 🇭🇰 Credit cards are the top payment method for ecommerce transactions and are expected to remain the most popular payment method.
Mobile wallets (Alipay and WeChat) are gaining traction among Hong Kong consumers.
Indonesia 🇮🇩 Cash on delivery is still the most popular payment method for retail goods. Wallets are growing with popular names such as Doku Wallet, Dana, GoPay, Ovo. Payments at Convenience Store or at ATM are important as well. Card penetration is 15%
Japan 🇯🇵 is a cash-dominated market where cash on delivery is a popular payment method. Konbini allows customers to pay for online purchases in 24/7 convenience stores. Local credit card JCB is also popular, as are international credit cards. PayEasy is another very popular way to pay.
Malaysia 🇲🇾 Malaysia is second only to Singapore in terms of credit card penetration and usage.
The growing use of mobile devices may speed Malaysia’s ecommerce growth, as mobile payments can be made from a prepaid wallet instead of a bank account.
Popular wallets in Malaysia are GrabPay, Razer, Boost. DuitNow is Malaysia’s Fast Payment Method which is growing rapidly.
The Philipines 🇵🇭 popular payment methods are wallets like Gcash, Paymaya and GrabPay. InstaPay is Phillipines’s Fast Payment Method which is growing rapidly.
Singapore 🇸🇬In Singapore, credit cards are the top payment methods, followed closely by bank transfers and NETS payments. Contactless and ewallet payments like Apple Pay and Google Pay are also picking up pace. GrabPay, Shopee Pay, FavePay are the popular wallets. PayNow is Singapore’s Fast Payment Method which is growing rapidly.
South Korea 🇰🇷 has the highest credit card penetration in the world, and the average South Korean shopper has five credit cards, compared to two in the US. 80% of the population owns a smartphone and 44% uses it for shopping.
KakaoPay is a very popular payment method.
Thailand 🇹🇭has huge e-commerce growth potential. Popular payment methods are wallets like TrueMoney, GrabPay, Rabbit Line Pay. PromptPay is Thailand’s Fast Payment Method which is