25-34 cash are perfect for conversion to new payments such as by phone new payments can offer:...
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10.4%
Smartphone wallet
14.0%
online payment ServiceS
17.2%
debit card33.9%
caSh
24.0%
credit card
0.4%
other
Future Payments
asia in the driving seat
IDC Financial Insights conducted a survey, sponsored by ACI Worldwide, across 9 markets (developed markets of Australia, New Zealand, Singapore, Japan and the emerging markets of China, India, Indonesia, Malaysia and Thailand) of 2,000 consumers in order to understand where payments currently stand and how they will evolve.
younger demographicS using smartphones across Asia/Pacific are driving change in the way that shopping is done and how payments are made
11%
from emerging markets were mobile only shoppers
59%
of consumers have used a mobile phone for shopping
Payments complexity is increasing in asia/pacific
more new digital payments are being used
age range most likely to use the widest range of payments25-34
emerging markets are leading in new payments usage
L e g a c y p a y m e n t s
n e W p a y m e n t s
Emerging markets Developed markets
72%
70%
33%
17%
13%
6%
have used SmartphoneS for payments already71
% have used mobile money for payments23
%
emerging markets — engine for new payments growth
An IDC Infographic
Consumers who intend to use Smartphone walletS for payments within the next 6 months
74%
46%
Why are people using new payments?
better, FaSter and more eFFicient ServiceS
New payments can have clear advantages over traditional payments in:
users happy to sacrifice some
security for speed and efficiency
mobile- and Desktop-Based Payments are Used Differently
For Shopping in an oFFline Setting such as a store
For paying for ServiceS such as taxis
m o b i l e - b a s e d p a y m e n t s
55%
46%
D e s k t o p - b a s e d p a y m e n t s
For online Shopping
For paying billS
92%
60%
mobile payments can be real cash replacements in certain situations
social media services — a big driver for
new-generation payments
line now has P2P payments embedded as a
service in Japan, Taiwan and
Thailand
Facebook recently introduced payments to its social networking platform and aims
for global launches later
wechat wallet is already one of the most popular
mobile wallets globally.
90 million in China have accounts
Payments in social media are an important part of the ecosystems that they are trying
to build in order to gain market dominance
not just new payments but superior payment experiences
the internet of services and the shared economy will also drive further demand
H o w p e o p l e p a y f o r t a x i s t h r o u g h a p p s
lower value, higher volume tranSactionS currently paid for in cash are perfect for conversion to new payments such as by phone
New payments can offer:
perFect match For next-generation ServiceS
emerging marketS in aSia once again may prove to be the driving force – they show higher correlation of usage of shared economy services and new payment methods
Shared economy ServiceS
new payment methodS
Research Team: Michael Yeo and Shiv PutchaSource: IDC Financial Insights Consumer Payments Survey 2015, Sponsored by ACI Worldwide (N=2,000)
This IDC Infographic was produced by IDC Go-to-Market Services. Any IDC information or reference to IDC that is to be used in advertising, press releases, or promotional materials requires prior written approval from IDC. For more information, visit: www.ap.idc.asia or email: [email protected]
about aci worldwideACI Worldwide, the Universal Payments company, powers electronic payments and banking for more than 5,600 financial institutions, retailers, billers and processors worldwide. ACI software processes $13 trillion each day in payments and securities transactions for more than 300 of the leading global retailers, and 18 of the top 20 banks worldwide. For more information, please email: [email protected]
Sponsored by
Emerging markets
Developed markets
C h i n a I n D I a
no 1. reaSon:
43%
will grow together in tandem in aSia/paciFic