DUBLIN – (BUSINESS WIRE) – The “Top Mobile Payment Service Providers In Selected Asian Countries In 2020 And Their Response To COVID” -19 Crisis Report Has Been Added To ResearchAndMarketscom offering

Overall, mobile payment services market revenue in Asia is growing steadily during the coronavirus pandemic, especially in the larger economies such as India, Australia, Japan and Singapore, although cash is still king in Asia and these economies are expected to be that by 2025 Leading growth rankings in Asia-Pacific region Nonetheless, Asia is made up of economies that vary greatly in terms of the adoption of mobile payment methods.For example, a survey cited in the report shows that in Japan, almost two-fifths of adults are using smartphone payments every day in 2020 in the Philippines the acceptance rate for mobile payments is now much lower However, the market is promising as the adoption of new e-wallet accounts is growing much faster than the rate of penetration of bank accounts

Another interesting fact highlighted in the report is that consumers in Asia are mostly opting for the domestic mobile payment service providers rather than the global giants like PayPal or Google Pay, which has helped the local M-PSPs in particular, according to To keep their heads above water after the pandemic outbreak In addition, most of them have significantly expanded their user base.In Malaysia, for example, the government used digital wallets to distribute funds to businesses and communities affected by the health crisis

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ResearchAndMarketscom
Laura Wood, Senior Press Manager
Press @ researchandmarketscom
For ES.T Office hours call 1-917-300-0470
For youSCall / CAN toll free at 1-800-526-8630
For GMT office hours, call 353-1-416-8900

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World News – UK – Top Mobile Payment Service Providers in Select Asian Countries and Their Response to COVID-19 Crisis – Mobile Payments Gain Momentum During Health Crisis – ResearchAndMarketscom

Source: https://www.businesswire.com/news/home/20210108005168/en/Top-Mobile-Payment-Service-Providers-in-Select-Asian-Countries-and-their-Reaction-to-the-COVID-19-Crisis—Mobile-Payments-Gain-Momentum-During-the-Health-Crisis—ResearchAndMarkets.com