How big is the Asia-Pacific Payments Market?

The Asia-Pacific Payments Market size is expected to reach USD 13.93 trillion in 2024 and grow at a CAGR of 13.32% to reach USD 26.03 trillion by 2029. Read More

What is the current Asia-Pacific Payments Market size?

In 2024, the Asia-Pacific Payments Market size is expected to reach USD 13.93 trillion. Read More

Who are the key players in Asia-Pacific Payments Market?

Matercard Inc., Visa Inc, American Express Company, Samsung (Samsung Pay) and Naver Corporation (Naver Pay) are the major companies operating in the Asia-Pacific Payments Market. Read More

What years does this Asia-Pacific Payments Market cover, and what was the market size in 2023?

In 2023, the Asia-Pacific Payments Market size was estimated at USD 12.29 trillion. The report covers the Asia-Pacific Payments Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Payments Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Asia-Pacific Payments Market Report | Industry Analysis, Size & Growth Trends

APAC Payments Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Asia-Pacific Payments Market Report is Segmented by Mode of Payment (Offline/Point of Sale (Card Payments, Digital Wallets, Cash), Online Sale/E-commerce (Card Payments, Digital Wallet)), End-user Industries (Retail, Entertainment, Healthcare, Hospitality), and Country (China, India, South Korea, Taiwan, Singapore, Philippines, Malaysia, Indonesia, Vietnam, Australia, and Japan). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.

APAC Payments Industry Overview

The Asia-Pacific payments market is highly competitive as crucial players in the region are developing new solutions in the e-commerce market for various end-user applications. Companies also invest and form partnerships to grow their regional businesses and provide the country's e-commerce platform. Some market players, such as Visa, Mastercard, Samsung Pay, American Express, and Naver Corporation, are increasing their market presence by moving across the untapped market space.

In June 2022, Samsung Pay introduced the Samsung Wallet by combining Samsung Pay and Samsung Pass. This wallet could securely save passwords and monitor digital assets like cryptocurrencies. Moreover, the Samsung Wallet included features to store driving licenses and student IDs.

In March 2022, Mastercard, DBS Bank, and Pine Labs partnered to launch Mastercard Installation Payments with Pine Labs. This new program allows DBS/POSB credit cardholders to pay interest-free installments with merchants by simply presenting the DBS / POSB and using a later pay identifier card at checkout.