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Use of digital wallets in APAC increases

Adrian M. Reodique | Feb. 24, 2016
Most of the digital wallet users come from China (45 percent), followed by India (36.7 percent) and Singapore (23.3 percent).

One in five people (19.5 percent) in Asia Pacific region is using digital wallets - this is a two-fold increase from 9.7 percent in 2013, according to the Mobile Shopping survey by MasterCard in the last quarter of 2015.

Most of the digital wallet users come from China (45 percent), followed by India (36.7 percent) and Singapore (23.3 percent).

In addition, mobile shopping activities continue to surge across the region.

According to the survey, nearly half of the respondents (48.5 percent) have made a purchase using their smartphone in the last quarter of 2015. This shows a 2.9 percentage point increase from 45.6 percent growth achieved in 2014.

India topped the list at 76.4 percent, followed by China (76.1 percent), South Korea (62 percent), and Thailand (61.1 percent).

Majority of the respondents (53.9 percent) cited convenience as the key factor for shopping via their smartphones. Other reasons include the ability to shop on-the-go (42.9 percent) and the growing availability of mobile applications that make it easy to shop online (41.4 percent).

Meanwhile, mobile banking apps remained as the most widely used mobile technology in the region at 31.8 percent.

The survey polled 8,500 people across 14 markets in Asia Pacific.

 

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